Housing Wire

OCTOBER 10, 2023

Inventory continues to grow faster than last year at this time. Higher rates equal more inventory, and lower rates equal less inventory. If mortgage rates were to fall between now and January, expect to see inventory decline again next year like it did for most of this year. That’s up a fraction from last week.

Mortgage 404

Mortgage Inventory Contracts Sellers 404

Birmingham Appraisal

MAY 11, 2022

Median home prices continue to rise as a result of high demand and limited inventory. The amount of time a home stays on the market before going under contract continues to decline as buyers snatch up what limited inventory is available. In a buyer’s market, the inventory is much higher and buyers have more choices.

Housing Market 52

Housing Market Marketing Inventory Buyers 52

Housing Wire

DECEMBER 7, 2020

months, builders will halt the rate of growth for new construction plans as they did in 2018 and again for a brief period this year. For now, though, the low inventory means housing starts have legs to move higher. Existing home inventory is also at all-time lows. Unsold inventory sits at an all-time-low 2.5-month

Inventory 544

Inventory Construction Government Housing Market 544

Houston Properties

JULY 22, 2022

My last three listings have received a combined 14 offers and gone under contract, on average, within 4 days. The combination of low inventory and high demand is great for sellers. We’re also seeing the re-emergence of backup contracts, bidding wars, and homes closing materially over the asking price. Houston has 3.7

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Real Estate Agent Real Estate Realtors Agents 36

Housing Wire

JULY 24, 2023

Pending Sales There are now 378,000 single-family homes in contract. There were 68,000 new contracts for single-family homes this week. In the chart below, the light portion of each bar represents the new contracts each week. But, there were another 15,000 condos and townhomes that went into contract this week.

Inventory 298

Inventory Contracts New Listings Buyers 298

Housing Wire

DECEMBER 10, 2021

At this moment, about 25% of properties are going into contract essentially immediately every week (around 20,000 of them within hours or days of listing) — even as supply and transaction volume declines through the end of the year. Low inventory will continue to be a major issue. That being said, keep an eye on rising interest rates.

Housing Market 542

Housing Market Marketing Inventory Sellers 542

Appraisal Today

DECEMBER 15, 2023

Purchase volume was running about 18 percent below last year’s pace, as prospective homebuyers are still challenged by a lack of inventory, even as rates have decreased.” The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 7.07 percent the previous week.

Appraisal 78

Appraisal Contracts Business Mortgage 78

Lamacchia Realty

JUNE 21, 2022

In early March it was becoming clear that the market was changing from a frenzied post-pandemic scene to one where rising mortgage rates would slow it down and help inventory finally rise back up. That’s because fewer homes are being placed under contract. Price adjustments/decreases were up across the country in May.

Housing Market 65

Housing Market Bracketing Marketing Sellers 65

Appraisal Today

MAY 10, 2024

Appraisers must consider broader economic indicators, such as inflation rates and GDP growth, in tandem with localized market conditions, including inventory levels and median price changes, to provide accurate and timely valuations. From 2015 to 2018, there were 5 significant fires. percent from 7.29 percent from 7.39 percent from 7.09

Reconsideration of Value 71

Reconsideration of Value Appraisal Real Estate Insurance 71

Housing Wire

JULY 17, 2023

By October 2022, it looked like 2023 would have rising inventory and falling home prices. Inventory has fallen all year. The peak of inventory for 2023 so far was the week of the New Year — that is insane. We could see inventory from distressed sellers emerge in 2025. I grew pretty bearish again. There was no crash.

Real Estate 296

Real Estate Marketing Inventory Contracts 296

Appraisal Today

FEBRUARY 2, 2024

To see the timeline (from 2018 to 2026) PDF, Click Here Too large to include in this newsletter. For residential appraisers, it remains imperative to remember that even as the market shows initial signs of correcting, inventory still sits at extremely supply-constrained levels from a historical context. percent from 6.51

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Appraisal Contracts Training Real Estate 67

Will Springer Realtor

JANUARY 10, 2023

Homes going under contract (Pending sales) dropped 25% from the previous month and by 30% year-on-year (YoY) – staggering drop-offs. The general softening of prices comes despite tight inventory, even when factoring out canceled and expired listings that typically take place in November and December. months of inventory, down from 2.2

Housing Market 36

Housing Market Marketing Inventory Real Estate 36

Will Springer Realtor

APRIL 10, 2024

Affordable housing initiatives focus not on the climate but on increasing inventory to meet demand, while climate-focused efforts lack integration with housing resilience goals. That’s only 20 cents more than in 2018. About half of all homes within the twin-tower community have buyers under contract. Interested in learning more?

Real Estate 36

Real Estate Buyers Sellers Insurance 36

Lamacchia Realty

DECEMBER 28, 2021

The inventory of homes for sale and the number of homes being listed for sale were not nearly enough to satisfy the buyer demand. Even though the inventory of homes for sale at any given time all year stayed lower than ever, it did not decrease sales overall. 2021 Recap. Yes, you read that correctly, worse. It is a real problem.

Sellers 74

Sellers Inventory Buyers Realtors 74

Housing Wire

AUGUST 1, 2023

The median price of the homes in contract is $385,000. There are now 376,000 single-family homes in contract. Maybe by Q4, we’ll have more homes in contract than there were at the end of 2022. The count of new contracts this week was just over 68,000 single-family homes. Both lines indicate about 70,000 contracts.

Inventory 351

Inventory Contracts Buyers Mortgage 351

Appraisal Today

SEPTEMBER 1, 2023

The current official unofficial Advisory Opinions of the Foundation reference the 2018-2019 version of USPAP. Purchase applications increased but were still 27 percent lower than a year ago, as elevated mortgage rates and tight housing inventory continue to weigh on home buying activity.” percent spike in conventional refinances.

Appraisal 79

Appraisal Contracts Mortgage Real Estate 79

Lamacchia Realty

OCTOBER 13, 2022

It typically takes 30-60 days for a property to go from under contract to closed. Competition was high, inventory was low, and there were bidding wars happening everywhere. Mortgage Rates Reach Highest Level Since 2018. Market value is determined by sales, not the high hopes of a seller. Time and Comps. June 21, 2022.

Marketing 70

Marketing Sellers Buyers Market Value 70

Appraisal Today

SEPTEMBER 2, 2022

Many of the homes that go to contract in the peak spring selling season close around 45 to 60 days later in July.” 1427, with an average 451% in revenue growth from 2018 to 2021. 1427, with an average 451% in revenue growth from 2018 to 2021. The average contract interest rate for 15-year fixed-rate mortgages increased to 5.10

Appraisal 52

Appraisal Contracts Clients Real Estate 52

Patch of Land

OCTOBER 16, 2018

As the 2018 house flipping report from research firm ATTOM Data Solutions shows, completed house flips in 2017 yielded an average gross profit of $68,143, representing a 49.8% If that’s the case, I think what it might do is cause inventories to rise modestly and home price growth to slow. return on investment.

Investing 45

Investing Inventory Housing Market Contracts 45

Houston Properties

JANUARY 12, 2022

The buying frenzy and low inventory we saw last year and will continue to see for better parts of this year may push buyers (specially if driven by bad advice from an unseasoned Realtor) to make bad decisions. Overall, right now properties are still actively going under contract. The biggest challenge right now is the low inventory.

Real Estate 36

Real Estate Marketing Real Estate Agent Realtors 36

Housing Wire

MAY 24, 2022

As we can see below, the new home sales report just took us back almost to the 2018 levels — the last time when rates rose toward 5% and created a supply shock. My biggest thing is getting total inventory back to 2018-2019 levels, which can range from 1.52-1.93 This is 16.6 percent (±10.4 percent (±13.7 What do we have now?

Housing Market 392

Housing Market Inventory Construction Marketing 392

Houston Properties

JANUARY 13, 2021

Properties are still going under contract. Based on last year’s sales data, the number of homes that have gone under contract is still consistent with figures prior to the coronavirus and the oil price crash. The market will see an influx of price drops and hikes due to low inventory and high demand.

Housing Market 68

Housing Market Marketing Real Estate Realtors 68

Will Springer Realtor

DECEMBER 19, 2023

We experienced yet another unusual year for residential real estate – high interest rates, leading to affordability challenges amid low inventory. A median priced home in King County today runs about $800K, or 32% more than in 2018 and a whopping 111% more than a decade ago. Does anyone have WD-40 to help us out with those pesky gates?

Real Estate 68

Real Estate Buyers Sellers Inventory 68

Will Springer Realtor

JUNE 9, 2021

Prices have soared in most areas – including a 30% jump in the past year for single-family homes in King County – amid a shortage of inventory and a sharp rise in the number of buyers. One-tenth surveyed said they have added language to contracts that require buyers to share in the materials costs if they continue to rise.

Housing Market 36

Housing Market Marketing Inventory New Listings 36

Will Springer Realtor

APRIL 11, 2022

Parking stalls in the Puget Sound region increased by 13% from 2013 to 2018, while the population increased by 9% and housing rose by only 6%, according to local data sources. This year’s buying and selling campaign will be marked by increasing inventory (good!), overall, where housing inventory rose 2.4% months in King, 1.0

Construction 36

Construction Development Inventory Buyers 36

Appraisal Today

JUNE 24, 2022

million additional housing units to the market by 2018. However, purchase activity was still 10 percent lower than a year ago, as inventory shortages and higher mortgage rates are dampening demand. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.98

Appraisal 52

Appraisal Contracts Mortgage Real Estate 52

Housing Wire

MARCH 17, 2022

In fact, considering the drop in builders’ confidence, now we have to watch for whether some people will cancel their building contracts because rates have jumped so much while they’ve been waiting for their new home to be built. This is a very positive thing because it’s real. It wasn’t a crash in demand but a slowdown for sure.

Construction 447

Construction Housing Market Inventory Buyers 447

Will Springer Realtor

OCTOBER 8, 2021

The combination of buyers leaving the market, which brings down demand, and the slow but steady increase in new listings has beefed up inventory slightly month-to-month. Inventories improved fractionally. months of inventory across all homes in King County, up from 0.6 Eastside inventories are the lowest in the county, now at 0.4

Real Estate 36

Real Estate Buyers Inventory Housing Market 36

Will Springer Realtor

SEPTEMBER 8, 2021

There are no signs of a real estate crisis, particularly in the Puget Sound region, where prices keep rising – up about 20% the past year and 68% in Seattle alone since 2016, by one measure – amid a dearth of inventory and surge of buyers. A drying up of listings sent inventory figures lower. in July, and condo inventories were 1.0,

Construction 36

Construction Inventory Buyers Real Estate 36

Will Springer Realtor

MAY 12, 2021

That’s 52% higher than 2018, when Freddie first began looking at housing shortages. >> The lack of inventory to keep real estate moving is confirmed with the latest data on U.S. The excess of inventory that occurred in 2007, 2008 and ’09, was an anomaly,” said Marci Rossell, former chief economist for CNBC. month from 0.6,

Real Estate 36

Real Estate Inventory Buyers Construction 36

Will Springer Realtor

AUGUST 9, 2022

An independent estimate from 2018 claims roughly 40% of the nation is in a flood-risk area. Inventories are on the rise, so much so that one area is now considered a buyer’s market. The bright spots include increasing inventory and falling prices across most of the region. Inventory levels are mounting in King, now at 1.9

Inventory 36

Inventory Buyers New Listings Construction 36

Housing Wire

AUGUST 31, 2022

After two record-setting years of mortgage origination volume, the mortgage industry is contracting, sharply. The net loss at the industry level this past quarter matches the pattern we saw in 2018, with a run-up in rates and the end of a refi wave. By comparison, we are forecasting total volume of about $2.3

Lending 382

Lending Mortgage Real Estate Loan Officers 382

Housing Wire

DECEMBER 31, 2021

But the boost in purchase business likely won’t be enough to prevent operational contraction: As margins shrink, lenders will likely have to lay off staff and renegotiate compensation. Yearly data compiled by the MBA found that in 2014 and 2018, years with weaker origination volume, the LO turnover rate was 44% and 37%, respective-ly.

Marketing 419

Marketing Law Government Mortgage 419

Will Springer Realtor

FEBRUARY 9, 2022

People are looking at higher prices, there’s slim pickings in inventory and now we have higher mortgage rates.”. Inventory remains a big concern. months of single-family-home inventory in King County and on the Eastside, and 0.5 months (6 days) of single-family inventory. months (6 days) of single-family inventory.

Buyers 36

Buyers Law Inventory Development 36

Will Springer Realtor

JULY 9, 2021

Home prices are going to continue to go up until the inventory comes back bit,” said Rick Sharga, EVP at real estate information provider Realty Trac. Inventory across our area remains extremely low. There is more than a month of condo inventory in Seattle, including two-plus months in Capitol Hill/Central District.

Buyers 36

Buyers Development Transportation Inventory 36

Housing Wire

AUGUST 23, 2022

The builders are in a better position to manage their inventory glut than when they were working from a credit boom in 2005 that took new home sales up to 1.4 Also, we had a supply spike in 2018, which caused builders to pause construction — and that was with rates only getting toward 5%. months and above.

Construction 370

Construction Housing Market Sellers Marketing 370

Will Springer Realtor

JUNE 8, 2022

The multi-pronged effort includes legislative and administrative actions to increase the number of affordable units and overall inventory. Even though we’re seeing inventory grow, it remains quite low,” notes Danielle Hale, chief economist at realtor.com. months, Pierce at 0.8 and Snohomish at 0.6. month to month (436) and 6.1%

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Design Construction Development Property Taxes 36