Housing Wire

SEPTEMBER 13, 2021

Though the demand for homes remained strong across the United States in August, there are clear signs that the housing market is past its peak. Still, the 69,563 homes that went into contract represented a 9% decrease from the high point set in May 2021. Why today’s housing market makes speed and agility crucial for lenders.

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Housing Wire

MARCH 22, 2024

Unlike many other metropolitan areas across the country , the housing market in Southwest Florida is comparably flush with for-sale inventory. “I We are seeing a healthy increase in inventory, which we really needed.” Smith attributes the uptick in inventory to a bump in new listings.

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Housing Wire

NOVEMBER 17, 2022

For this reason, the number of housing units “under construction” is the largest ever recorded in history because they were taking so long to finish. For the builders, they have a new problem: they had homes under contract and then mortgage rates jumped in the biggest fashion ever recorded in history.

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Housing Wire

DECEMBER 23, 2022

This article is part of our 2022-23 Housing Market Forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business.

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Housing Wire

JUNE 21, 2021

Many are eyeing scenic East Tennessee, where Knoxville and its surrounding suburbs have formed one the country’s hottest housing markets. Currently on Realtor.com , more than 2,000 homes are currently on the market in Knoxville with an average listing price of $270,000. How 2020 is still shaping the way lenders use data.

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Housing Wire

NOVEMBER 17, 2020

This year has been full of surprises, but the biggest might be how exceptional the housing market is performing, National Association of Realtors Chief Economist Lawrence Yun said on Tuesday. A lingering trend in the housing market has been the increase of homeowners relocating to the suburbs and vacation towns.

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Housing Wire

MAY 6, 2024

Inventory increases aren’t occurring at a super fast pace, but the number of homes on the market across the country keeps expanding. The good news for the housing market is that the pace of sales is gradually improving due to the expanded supply. housing market as we roll into May 2024.

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Housing Wire

AUGUST 7, 2023

As a result, the available inventory of homes for sale is slightly higher each week. With fewer transactions, inventory is building just a bit as we approach the end of the summer. When will inventory peak for the year? Inventory Inventory is still climbing just a bit each week as we approach the end of the season.

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Housing Wire

APRIL 30, 2021

But the Scottsdale housing market, and Arizona as a whole, has seen an enormous uptick in out-of-state movers in the past 14 months — when the COVID-19 pandemic began spreading across the country, ultimately allowing people to work from home and seek larger, more cost-effective lots to live on. from 2010, per a recent U.S.

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Housing Wire

JANUARY 26, 2024

It was the largest monthly jump in pending home sales since 2020. For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. Job additions and income growth will further help with housing affordability, but increased supply will be essential to satisfying all potential demand.” in November.

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Housing Wire

MAY 27, 2021

Like new and existing sales, pending home sales felt the strain of exhausted home inventory in April ? Contract signings are approaching pre-pandemic levels after the big surge due to the lack of sufficient supply of affordable homes,” said Lawrence Yun, NAR’s chief economist. from April 2020. dropping 4.4% to an index of 101.1

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Housing Wire

JUNE 17, 2021

“Since reaching a survey-high 927,000 units in October 2020, the annual pace of new home sales has now fallen around 20 percent, weighed down by low housing inventory and rising prices,” said Kan. According to the data, housing starts increased 3.6% in May to a rate of 1.57 Censes Bureau releases each month.

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Housing Wire

MARCH 25, 2024

Specifically, when housing inventory is 25% greater than a year ago, the supply/demand balance is obviously very different than it has been. Housing inventory The available inventory of unsold homes continued to climb last week. There are now 513,000 single family homes unsold on the market. A year with 5.5

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Housing Wire

MARCH 26, 2021

But the East Coast seaside town was gaining popularity way before then – millennials , especially, began flocking to the Portland housing market in 2020 to take advantage of the city’s growing startup scene of biotechnology , bioscience and biopharma. A balanced market, Davin said, requires five to six months.

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Housing Wire

JANUARY 9, 2023

One slice of the single-family home market that has gained traction over the past year in a topsy-turvy housing landscape is the build-for-rent sector — or BFR. on an annualized basis, according to Fannie Mae , to as much as 20%, according to some market forecasts. metro areas. Numerically, that means that approximately 1.5

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Housing Wire

SEPTEMBER 22, 2022

The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . With the home-price growth we had in 2020 and 2021, my five-year price-growth model that I set for 2020-2024 of 23% was already smashed in just two years.

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Housing Wire

OCTOBER 28, 2021

An index level of 100 is equal to the level of contract activity in 2001. Contract transactions slowed a bit in September and are showing signs of a calmer home price trend, as the market is running comfortably ahead of pre-pandemic activity,” Lawrence Yun, NAR’s chief economist, said in a statement. in 2022.

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Housing Wire

FEBRUARY 28, 2022

regions, only the West registered an increase in month-over-month contract activity. My premise was that the pending home sales data should moderate from the surge in make-up demand we saw in 2020 and then spill over into the first two months of 2021. “The We ended 2020 with 5.64 Of the four major U.S. million – 6.2

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Housing Wire

SEPTEMBER 29, 2021

Homebuyer contract signings in the U.S. Increased inventory of homes for sale, near historic low mortgage rates and favorable demographics means more housing demand, ” Odeta Kushi, the First American deputy chief economist said in a statement. rose 8% month-over-month from July to August, though the figure was still 8.3%

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Housing Wire

MARCH 24, 2021

Refinance activity dropped to its slowest pace since September 2020 – down a full 5% – with declines in both conventional and government applications, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting. Inadequate housing inventory continues to put upward pressure on home prices,” Kan said.

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Housing Wire

FEBRUARY 25, 2021

And inventory shortages are the culprit. Despite the decline, many industry observers see big potential for the housing market in the year ahead. It’s no secret that low mortgage rates and societal shifts brought on by COVID-19 have collided to form a red-hot housing market. million in 2020.

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Housing Wire

JANUARY 29, 2021

It’s the fourth consecutive decline, but many housing industry observers see big potential for the year ahead. However, contract signings rose 21.4% Realtor.com’s Housing Market Recovery Index showed significant contract growth, specifically in Portland, Las Vegas, Denver, Los Angeles, and Boston.

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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. When you look at just the new sales each week, you can see how the pace of the market has recovered. In 2022 there were 418,000.

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Housing Wire

AUGUST 27, 2020

The seasonally-adjusted index measuring signed contracts was up 15.5% We are witnessing a true V-shaped sales recovery as homebuyers continue their strong return to the housing market,” said Yun. Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings.”.

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Housing Wire

MAY 24, 2022

A lot of the housing data was lagging the rate move, so it wasn’t apparent that higher rates impacted the data yet. Going back to the summer of 2020, the one factor that I said could change the housing market was the 10-year yield getting above 1.94%. Except now, we have had massive price gains in 2020, 2021 and 2022.

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Housing Wire

NOVEMBER 29, 2021

in October — and since we are days away from December, we can officially label the 2021 housing crash bears as even worse than the 2020 housing crash bears. Like I have often said, professional grifters have plagued the housing sector for many years and shouldn’t be looked to as fundamental economic sources of information.

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Housing Wire

FEBRUARY 21, 2023

This is the lowest level of home sales activity since May 2020 when the COVID-19 pandemic had shut down much of the economy,” Lisa Sturtevant, the Bright MLS chief economist said in a statement. Inventory remains low, but buyers are beginning to have better negotiating power,” Yun added. from December to a pace of 4.00 in January.

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Housing Wire

OCTOBER 18, 2021

Homebuilder confidence continued to rise in October despite increasing affordability issues due to rising material prices and ongoing shortages, according to the latest National Association of Home Builders (NAHB) and Wells Fargo Housing Market Index (HMI) report released on Monday.

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Housing Wire

SEPTEMBER 30, 2020

Realtors can usually count on their biggest season being spring, followed by summer, but nothing about 2020 has been normal, including home-buying patterns. Kanacki said that when it came to seasonal buying, “we’re still riding the wave with 2020.” Now, believe it or not, fall home-buying season is in full swing.

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Housing Wire

MAY 10, 2022

This article is part of our housing market economic update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. The homeownership rate for Black Americans has actually declined between 2010 and 2020 and stands at 43.4%, while the homeownership rate for white Americans is 72.1%.

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Housing Wire

FEBRUARY 17, 2021

Since hitting a survey low in December, the 30-year fixed rate has slowly risen, and last week climbed to its highest level since November 2020,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. On an unadjusted basis, the Market Composite Index decreased 4% compared with the previous week.

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Housing Wire

AUGUST 31, 2021

With little inventory, home-price growth in the U.S. “While the housing market feels like it has legs that never get tired, inventory and affordability constraints are still expected to put a damper on price growth,” said CoreLogic Deputy Chief Economist Selma Hepp. from June 2020.

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Housing Wire

DECEMBER 7, 2020

housing market was the single best outperforming economic sector globally during the COVID-19 pandemic in 2020. Due to the solid demand for homes, housing supply for both new and existing homes are at all-time lows. For now, though, the low inventory means housing starts have legs to move higher. Hard pass.

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Housing Wire

MAY 10, 2023

You may have heard the good news: In recent weeks, several mortgage and real estate brokerage execs have exclaimed that we may have already reached the bottom of the market. For prospective home buyers and sellers, that could mean a gradual decline in mortgage rates , which would unlock inventory and—dare I say—sales activity.

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Housing Wire

AUGUST 11, 2021

It was the highest month-to-month growth since August of 2020. increase in FHA purchase applications could mean that some homebuyers are finding opportunities to enter the housing market. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 3.06% from 3.08%.

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Housing Wire

OCTOBER 15, 2021

One-third of homes that went under contract had an accepted offer within one week of hitting the market, a new report from Redfin found. In addition, the number of homes that went under contract within two weeks of listing rose to 46% from 42% during the same period in 2020. points from a month earlier.

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Housing Wire

MARCH 17, 2022

Of course, that’s until you look at the housing completion data, which hasn’t gone anywhere in years. Housing starts data, like new home sales data, can be wild month to month, so the trend is always more important than any one report and the revisions are critical. has the most prolific housing demographic patch in history.

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