Housing Wire

DECEMBER 29, 2022

As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. Housing permits and starts are falling now, even with the backlog of homes in the system. With less transaction volume , general incomes in the housing sector are falling.

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Housing Wire

NOVEMBER 9, 2020

The idea that it’s a seller’s market also picked up steam last month with the percentage of respondents who said it was a good time to sell a home gaining 3% to 59% in October. Low mortgage rates fuel the demand for valuation and settlement services. Presented by: VRM Mortgage Services. million Americans unemployed.

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Housing Wire

APRIL 15, 2022

We’ve all been wondering what 5% plus mortgage rates would do to the hot housing market, and now we’ve got that and a bag of chips. As a result, I’ve been rooting for mortgage rates to rise to create a balancing impact on this housing market. Have higher rates worked?

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Housing Wire

MAY 15, 2024

This is an excerpt of a HousingWire Research report titled: What Everyone Needs to Know about Mortgage Rate Lock-in, by Altos President Mike Simonsen. housing market saw dramatic changes in affordability as mortgage rates skyrocketed 500 basis points. That’s a swing of 17% fewer sellers in just a matter of days.

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Housing Wire

FEBRUARY 21, 2023

Last June, the Federal Reserve said it wanted a housing reset , which meant it wanted higher mortgage rates to destroy the housing market. Today, the Federal Reserve achieved its primary goal; the days on the market are now above 30 days, which was the most important data line to get housing back to somewhat normal.

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Housing Wire

DECEMBER 5, 2022

I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. So when I talk to loan originators today, I harken back to my early days when fixed mortgage rates were over 14% and there were absolutely no refinances to be had. Things will get better.

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Housing Wire

JANUARY 10, 2023

of home sellers gave concessions to homebuyers in Q4 of 2022, through money for repairs and mortgage-rate buydowns. This represents the highest increase of any three-month period since July 2020 when Redfin started tracking this data. In Q3 of 2022 and Q4 of 2021, sellers gave concessions in 30% of home sales.

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Housing Wire

MAY 2, 2023

The housing market functions differently than other markets because it can be characterized as a heterogeneous, thinly traded, illiquid market. In other words, it’s a diverse market with a wide variety of different homes of varying ages and levels of repair, and sales happen very rarely.

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Housing Wire

MARCH 8, 2024

Real estate agents in the leafy suburbs of Bergen County, New Jersey say the current housing market — with historically low inventory and record-high prices — is actually more challenging than the multiple offer chaos they sweated through during the pandemic. “At You aren’t getting that, but there is still a lot of competitive bidding.”

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Housing Wire

JANUARY 5, 2023

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. Mortgage rates. Home price s.

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Housing Wire

APRIL 7, 2021

Home sellers are chomping at the bit. As the economy reopens, vaccinations continue to roll out and stimulus checks reach bank accounts across America, home sellers are increasingly optimistic. There might even more intensity this year, since 2020’s spring homebuying season was limited by virus-related lockdowns,” Duncan said.

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Housing Wire

FEBRUARY 20, 2023

Another week down in 2023 and we’re seeing crazier action in the housing market as purchase application data fell, mortgage rates rose again, and weekly inventory took another dive with a noticeable move lower in new listing data. Mortgage rates hit 6.80%, marking the high point for 2023 so far.

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Housing Wire

JUNE 7, 2021

Homebuyers are feeling pretty discouraged by the housing market these days. In fact, four of the HPSI’s six components measuring market expectations increased month over month. points higher than it was in May 2020, when forbearance and unemployment heavily weighed down consumer sentiment. The HPSI is still 12.5

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Housing Wire

OCTOBER 10, 2022

Despite continued home price appreciation and a volatile mortgage rate environment that has resulted in the least affordable housing market in decades, there remains a minority of consumers who still feel that now is a good time to buy a home. The housing market index fell 1.2 points in September to 60.8,

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Housing Wire

JUNE 21, 2022

Now that we are almost in July, we can safely say the premise that once mortgage rates hit 4%, the mass panic selling of American homeowners who need to get out at all costs, driving total inventory up in the millions, hasn’t happened. Now that mortgage rates have risen, demand is getting hit, while we are still showing 14.8%

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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. at the end of 2022.

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Housing Wire

JANUARY 25, 2023

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. Long-term mortgage rates responded by rising from 3.25% in early 2022 to over 7.25% in October 2022, more than doubling. The overall U.S. overnight.

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Housing Wire

APRIL 30, 2023

The spring housing market music is playing, and purchase application data and active listing inventory rose together last week. The other focus should be where mortgage rates go; only a little happened last week. Since 2020, the seasonal inventory bump has happened later than usual — not until March or April.

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Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” ” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!)

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Housing Wire

JANUARY 9, 2023

The housing market saw inventory fall 4% last week from the week before. Traditionally, we do see housing inventory fall in the month of December, however, we clearly saw in the second half of 2022 that higher rates created more days on the market and inventory was lingering longer. That’s a big one-week change.

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Housing Wire

DECEMBER 30, 2020

While the United States may not have been prepared to combat a deadly virus, a quick and robust response from the Federal Reserve , along with changing consumer preferences, created a perfect storm that resulted in a record year for the housing and mortgage industries. bond market. Quite the opposite.

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Housing Wire

MAY 21, 2021

Nearly 50% of homes sold for more than their list price during the four weeks ending May 16, but there are signs that housing market demand may be reaching its peak, according to a recent study from Redfin. Mortgage purchase applications also decreased 4% week over week. The post Is housing market demand starting to weaken?

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Housing Wire

DECEMBER 29, 2021

A bullish housing market. economic recovery was a false story and that we were about to embark on a second housing bubble crash due to forbearance. economy continue to recover from the lows of April of 2020, but the 2021 economic data shows it has been one of the hottest years in many decades. What a year 2021 has been.

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Housing Wire

APRIL 7, 2021

And now, with the COVID-19 vaccine circulating and the economy slowly regaining strength, Zillow researchers say millions of additional households could enter the housing market in 2021. Specifically, housing markets like Portland, Maine , Bay City, Mich. markets; by December 2020, prices were already up 23.6%

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Housing Wire

FEBRUARY 6, 2023

Despite mortgage rates briefly falling below the 6% threshold, both housing inventory and mortgage demand fell last week. Let’s dive into the trend lines of the housing market. The show-me part of the housing market starts with this bounce from an extreme bottom. Weekly inventory change (Jan.

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Housing Wire

FEBRUARY 8, 2021

Following two months of steady declines, Fannie Mae’s Home Purchase Sentiment Index (HPSI), a composite index designed to track the housing market and consumer confidence to sell or buy a home, rose in January. 29, breaking a two-week streak of decreases, according to the Mortgage Bankers Association. The HSPI rose 3.7

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Housing Wire

FEBRUARY 27, 2023

We created the weekly Housing Market Tracker because housing data has been so wild since 2020. The housing market madness persisted last week as inventory fell and higher mortgage rates took a bigger bite out of purchase application data. Weekly inventory change (Feb.

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Housing Wire

JUNE 28, 2022

This data line lags the current housing market as it’s a few months old. Since the summer of 2020, I have talked about how to cool down home sales: we need the 10-year yield to break over 1.94%. Imagine if mortgage rates didn’t rise this year. The reality is that home sellers and builders had too much pricing power.

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Housing Wire

DECEMBER 2, 2020

As 2020 comes to an end, realtor.com ’s economists believe that the housing inventory shortage won’t be as dire in 2021. Additional lockdowns and quarantines due to COVID-19 could put a dent in housing inventory and sales, potentially slowing down the market and putting increased pressure on buyers, the forecast said.

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Housing Wire

MARCH 6, 2024

Housing professionals already know that high mortgage rates are bad for business. But with mortgage rates ascending past 7% according to HousingWire’s Mortgage Rates Center , those hopes have so far been dashed in 2024. Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates.

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Housing Wire

OCTOBER 5, 2021

home sellers received four or more offers on their home in 2021, according to Zillow’s latest consumer housing trends report. Typical sellers received two offers, which is the same as the past three years. This is slightly higher than the number of buyers who reported purchasing a home without a mortgage (68%).

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Housing Wire

MARCH 1, 2024

While Fischer attributes some of the uptick in activity to typical seasonality, he noted that the recent relative stability and even slight decreases in mortgage rates have also contributed. Both buyers and sellers are coming back to the market,” Fischer said. We have a pretty strong market heading into spring,” Fischer said. “I

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Housing Wire

JULY 16, 2021

Canadian customers can now work directly with the OJO concierge team to connect with local agents and mortgage professionals from Royal Bank of Canada , said Natalka Falcomer, who was named president of OJO Home Canada. It also launched in 2020 The OJO Select Network , which matches agents with home buyers and sellers based on customer needs.

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Housing Wire

SEPTEMBER 13, 2022

The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. It all started when mortgage rates jumped from 5.25% to 6.25% this year and I saw how home sellers reacted to that move.

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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

FEBRUARY 3, 2023

The labor market started off in 2023 with a bang, which could mean trouble for the housing market as the Federal Reserve continues to try and bring inflation under control this year. In comparison, the job market gained an average of 401,000 jobs per month in 2022.

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Housing Wire

MAY 8, 2024

Home prices escalated out of control after 2020 and when we look at why that happened, we can see that housing credit mattered more to inventory data than most people realize. On March 18, 2020, purchase application data broke out to pre-cycle highs in demand. It comes down to housing credit! What does that mean?

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