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. Generally, they go under contract in a day or two.”

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Housing Wire

DECEMBER 10, 2021

As we approach the end of another hot year for the market, homebuyers and sellers are eagerly looking ahead to the 2022 housing market. Will the market continue its streak of strong growth, or are we finally about to see a slow down? I’ll also highlight which variables we should be watching for unexpected market shifts.

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Housing Wire

JULY 25, 2022

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. in 2021, Freddie Mac reports. in 2022 but will drop to 4% in 2023.

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Housing Wire

MARCH 26, 2023

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. In a regular market, they would be closer to 5.25%.

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Housing Wire

AUGUST 14, 2023

Mortgage rates have been stubbornly above 7% for two months and it sure looks like home buyers are growing weary. We can see signs that buyers are slowing, both in the sales volume and in the sales price data. This slowdown is not like last year, instead, it’s just slightly fewer buyers each week. We measure the housing market.

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Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. of homes that went under contract that month, according to a new report from Redfin. A lot of sellers are also willing to let buyers slip away because they don’t want to concede to repair requests,” Morre said.

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Housing Wire

DECEMBER 30, 2020

Year-over-year, contract signings increased by 16.4%. As 2021 approaches, Yun predicts that there will be a slight uptick in mortgage rates to around 3%, existing-home sales to increase by roughly 10% and new home sales to increase by 20%. The post Pending home sales continue to slip as 2021 approaches appeared first on HousingWire.

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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

MAY 28, 2021

More than half of homes (51%) have sold above their listing price in the four week period ending May 23, 2021 — up from 26% one year ago, according to a recent study by Redfin. Numerous other sales records were also set, including the median home sale price ($354,250) and number of days on the market (17, down from 36 one year ago).

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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. The reasons for that are solid demographics and low mortgage rates , which will not change much in 2021. Due to the solid demand for homes, housing supply for both new and existing homes are at all-time lows.

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Housing Wire

JULY 28, 2022

But they do agree on one thing: Higher interest rates will quell housing demand, which will allow inventory to rebound and, eventually, spur the return of reluctant buyers. An improvement from the 6% mark, yet it’s still significantly higher than early 2021’s 3% level. I think it’s already priced in the market.”.

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Cleveland Appraisal Blog

MARCH 30, 2021

TODAY’S HOME BUYERS ARE LIKE THE CARP. This fish phenomenon reminds me of the housing market today. As soon as homes hit the market, they often sell in days, with numerous offers that usually bid the list price up. This year, it appears that buyer panic is even worse than last year. That is a lot of bread!

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Housing Wire

MARCH 26, 2021

Portland, Maine, has emerged as a popular destination for current homeowners and prospective buyers looking to move out of metro areas into more spacious secondary cities. were heading to Portland in January and February of 2021. “It’s a full-on frenzy for buyers to secure a home.”

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Housing Wire

MAY 22, 2024

One difference between 2023 and 2024 is that this year the pending contract data shows small but steady year-over-year sales growth. We are getting close to the seasonal peak and then this data line will decline, making 2021-2024 the lowest new listings data period ever recorded in history. This isn’t the case in 2024.

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Housing Wire

SEPTEMBER 12, 2023

The point of the editorial seemed to be to scaremonger over government programs to help home buyers and student loan borrowers. housing market now. That’s frankly surprising given how cold the housing market froze last fall. New contracts dipped as affordability is out of reach for so many.

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Housing Wire

OCTOBER 13, 2021

Houses, on average, are still selling for 2.8% Earlier this year, however, agents in the metro were seeing houses go into contract within five days of being listed and properties with desirable features – such as single-story living and an updated kitchen and bath – bringing in 20 to 30 offers. It is really wild.”.

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Sacramento Appraisal Blog

MAY 5, 2021

“Buyers are crazy!!! ” That’s what we tend to hear from people who are NOT trying to buy a house right now. How can they be paying these prices?” It seems like onlookers really don’t understand what it takes to get an offer accepted these days.

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Housing Wire

MARCH 3, 2021

26, 2021 according to the latest report from the Mortgage Bankers Association. The housing market is entering the busy spring buying season with strong demand,” Kan said. Mortgage applications recovered slightly from last week , increasing 0.5% for the week ending Feb. from 11.2% the week prior. from 11.9% the week prior.

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Housing Wire

SEPTEMBER 29, 2021

Homebuyer contract signings in the U.S. its highest level since January 2021. 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. lower than the same time last year.

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Housing Wire

JANUARY 20, 2023

housing market , we just experienced an event that most people never thought could happen. From NAR : “December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates ,” said NAR Chief Economist Lawrence Yun. The days on market were too low. from November but up 10.2%

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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. These reports highlight the difference home buyers and potential home buyers have when embarking on the buying process.

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Housing Wire

MAY 18, 2022

However, the sting of higher mortgage rates is hitting the single-family construction data, and the real story is that the housing completion data, which has been bad for a long time, is still terrible. We simply cannot finish homes in America promptly, and now that mortgage rates are over 5%, some buyers won’t be able to purchase a home.

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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

MARCH 24, 2021

The dip in applications is linked to broader trends in the housing market: more than a year of low inventory is forcing interested buyers to snag whatever they can get their hands on, even if it’s overpriced. That’s coupled with a rise in mortgage rates , too.

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Housing Wire

FEBRUARY 25, 2021

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. Making housing more affordable by bridging the affordable supply gap.

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Housing Wire

JANUARY 31, 2023

decline since the market peaked in June 2022,” Craig J. These declines, of course, came after very strong price increases in late 2021 and the first half of 2022. Because most home sales take several months from contract to closing, the data likely includes some deals struck in July and August.) for the month, reflecting a -3.6%

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Housing Wire

AUGUST 7, 2023

The surprisingly strong economy has the markets assuming the Fed will keep rates higher for longer, therefore, mortgage rates follow suit. Higher mortgage rates mean higher monthly payments, less affordability for home buyers and slightly fewer transactions. Those buyers stopped, so inventory grew late in the year.

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Housing Wire

AUGUST 31, 2021

annual growth rate logged the month prior, in May 2021. “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. By fueling the process with certainty. .

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Housing Wire

MAY 3, 2022

The venture capital investment is in addition to $1 billion in separate capital commitments from investors that Point has lined up to help fund what it calls home-equity investment (HEI) contracts. “We Homeowners, in turn, get to cash out a slice of their home equity with no payments due until the contract matures.

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Housing Wire

SEPTEMBER 28, 2021

annual gain for the year ending in July 2021, up from 18.7% from July 2020 to July 2021, which is up from the 18.5% increase recorded in June 2021. Additionally, there are move-up buyers with larger budgets who are relocating to more affordable areas where they’re financially able to outbid local residents.

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Housing Wire

JANUARY 19, 2023

As the housing market slowed from its frenzied peak in 2022 due to soaring mortgage rates, homebuilders pulled back. An estimated of 1.533 million housing units were started in 2022, down 3.0% compared to 2021, according to a report released Thursday by U.S. Department of Housing and Urban Development.

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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. The index dropped to 116.7

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Housing Wire

SEPTEMBER 26, 2023

The home sales that are in contract now will close mostly in October. There are now 344,000 single-family homes in contract to close in the next couple months. That’s 14% fewer than last year and almost 30% fewer than in September of 2021. The price of the new contracts this week came in at $370,000.

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Housing Wire

JANUARY 27, 2023

Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.” compared to December 2021. An index of 100 is equal to the level of contract activity in 2001. “We Interested buyers are out there.

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Housing Wire

OCTOBER 16, 2023

In August, Zillow ‘s 2023 Consumer Housing Trends Report proclaimed that half of all homebuyers are purchasing their first home, the highest share that Zillow has ever recorded. It’s true that first-time buyers make up a larger piece of a smaller pie, as housing inventory shrinks. It never will be.

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Housing Wire

AUGUST 11, 2021

Homeowners continue to respond to lower rates, with refinance activity climbing to the highest level since February 2021,” said Kan. increase in FHA purchase applications could mean that some homebuyers are finding opportunities to enter the housing market. The refinance share of loan counts was at 68%, compared to a 63.4%

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