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Buyers showing renewed interest in condos

Housing Wire

That’s quite the contrast from back in 2012, when Redfin reported that condos were selling for more than 4% below asking price. “Many buyers who have been priced out of the market for single-family homes have turned to condos,” Fairweather said. And the biggest benefit of condo living is the more affordable price.”

Buyers 424
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New-year optimism reflected in mortgage applications jump

Housing Wire

. “Both conventional and government refinance applications increased, with applications for government loans having their strongest week since June 2012.”. “This is a positive sign of more lower-income and first-time buyers returning to the market,” Kan said. decrease from last week. from 10.1% the week prior.

Mortgage 498
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Homebuilders say housing starts will fall even further in 2023

Housing Wire

Homebuilder confidence continued its downward spiral in October, hitting its lowest level since August 2012, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Tuesday.

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Commission lawsuit: HomeServices files motion for judgment as a matter of law

Housing Wire

KANSAS CITY, Missouri — The second week of the Sitzer/Burnett class-action buyer broker commission antitrust lawsuit kicked off with a bang. She also said that HomeService’s guidelines state that listing brokers need to compensate buyer brokers only when the property is in the MLS. Goldberg testified that while there are roughly 2.5

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December marks a full year of declines in builder confidence

Housing Wire

Homebuilder sentiment dropped yet again in December, hitting its lowest reading since mid-2012, with the exception of the onset of the COVID-19 pandemic in the spring of 2020. The index that charts traffic of prospective buyers held steady from November at a reading of 20 points. However, builders can only slash prices so much.

Contracts 387
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Home price growth continued to soften in November

Housing Wire

Because most home sales take several months from contract to closing, the data likely includes some deals struck in July and August.) result in March 2012). Economic weakness, including the possibility of a recession, would also constrain potential buyers. to a reading of 313.07. decline in October 2019,” Lazzara said.

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Are you prepping for worst-case commission lawsuit outcomes?

Housing Wire

With the scrutiny of The Department of Justice and the Federal Trade Commission and multiple lawsuits concerning how buyers’ brokers get paid, many brokers say it feels like an all-out war on the real estate industry. billion in commissions they paid to buyers’ agents in the past eight years.