Housing Wire

AUGUST 22, 2023

compared to July 2022. Median home prices there were roughly unchanged from the same period in 2022. Average mortgage rates rose by about a half percentage point in May and June, pricing some buyers out and limiting closed sales in July. month over month and 23.8% The median price for a home was $467,500, up 5.5% a year ago.

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Buyers Inventory Realtors Housing Market 338

Appraisal Buzz

JANUARY 17, 2022

What is on the horizon in 2022? Things may be taking a turn for the better in 2022, though. Many buyers hope the housing market will cool down in 2022, and while experts don’t think it will be as competitive, this is unlikely to be a dramatic shift — at least not one that turns the market away from being seller-friendly.

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Construction Supply Chain Housing Market Technology 468

Housing Wire

NOVEMBER 3, 2023

I actually started out as a buyer’s agent myself… and I see buyer’s agency as being a very valuable tool for buyers,” Sanford said during the Q&A session. I’m concerned, quite frankly, about what this might mean to buyers who may not be able to afford representation if things change up too much.” million to $14.90

Buyers 391

Buyers Realty Real Estate Realtors 391

Real Estate News

MARCH 28, 2023

Millennials dominated the market in 2021, but as affordability pushed younger buyers to the sidelines, boomers took over as the top group of buyers 2022.

Buyers 288

Buyers Marketing 288

Appraisal Buzz

MARCH 26, 2024

The surge in listings is bringing some buyers back to the market, the firm says. year over year, the second-biggest increase since October 2022, and the median monthly mortgage payment is just $31 shy of its all-time high due to elevated mortgage rates and prices. Increasing inventory has yet to dampen price growth. The median U.S.

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New Listings Buyers Marketing Inventory 195

Housing Wire

JANUARY 25, 2023

As mortgage rates continue to decline, Chad Earnest’s mantra with his referral partners in 2023 is “no buyer left behind.” The Montgomery, Texas-based area manager, who moved from AmeriSave Mortgage Corporation to Cardinal Financial Company in November, launched in mid-2022 a platform to help their referral partners succeed.

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Buyers Mortgage Real Estate Agent Contracts 479

Housing Wire

FEBRUARY 1, 2023

While mortgage rates have been trending lower, rates are still higher than 12 months ago, but some experts anticipate that the downward pressure on rates will provide opportunities for buyers. in February 2022. For the buyer of a median-priced home, these lower prices translate into a $9,800 savings on a 20% down payment.

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Buyers Mortgage Landlords Law 392

Real Estate News

APRIL 22, 2023

A new report finds that in 2022, 30% of Gen Z Americans owned a home at age 25, making them a prime source of buyer (and seller) leads.

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Buyers Sellers 254

Real Estate News

FEBRUARY 24, 2023

trillion since June 2022, with the biggest declines in the San Francisco Bay Area. A new Redfin report found the total value of U.S. homes has dropped $2.3

Home Value 251

Home Value Buyers 251

Housing Wire

MARCH 14, 2024

To determine the affordability score of each state, Insurify identified the average yearly cost of a home insurance policy in 2023, how much home insurance prices changed since 2022, and how that change compared to the state’s wage growth.

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Insurance Buyers Finance Real Estate 448

Sacramento Appraisal Blog

JUNE 6, 2022

Sellers haven’t had to negotiate much with buyers over the past two years, but that’s starting to change. Let’s talk about this today by looking at seller concessions (credits for repairs, help with closing costs, etc…). I hope you enjoy, whether you’re local or not.

Buyers 449

Buyers Real Estate Sellers Marketing 449

Housing Wire

JULY 28, 2023

from June 2022, according to Realtor.com economic researcher Hannah Jones. asking rent is just $24 shy of the $2,053 peak hit in 2022. Austin buyers must earn $92,000, down 3.3% year over year, and Phoenix buyers must earn $86,100, down about 1%. It dropped 17% year over year in June. Meanwhile, average U.S.

Buyers 370

Buyers Housing Market Investors Real Estate 370

Housing Wire

AUGUST 24, 2023

That buyer lost $71,000 in purchasing power compared to one year ago when a $500,000 home would have been accessible to them with an average rate of about 5.5%. Agents say cash-strapped buyers are negotiating hard to get deals in this environment. mortgage rate, using rate data from August 23. Demand levels vary by region.

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Buyers Agents Inventory Mortgage 367

Housing Wire

JANUARY 20, 2023

The phrase “in like a lion, out like a lamb” is typically used to describe the month of March, but it is also applicable to existing home sales trends in 2022. The housing market may have started 2022 out with a bang, but it exited the year with a whimper,” Lisa Sturtevant, Bright MLS’ chief economist, said in a statement.

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Inventory Housing Market Realtors Buyers 376

Housing Wire

AUGUST 10, 2023

Wells Fargo rolled out a down payment grant program that will offer $10,000 to eligible buyers or homeowners who currently live in or are purchasing homes in underserved communities in eight metropolitan areas. Eligible buyers can combine the bank’s grant with other programs including — Wells Fargo’s Dream.

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Buyers Lending Mortgage Finance 370

Housing Wire

SEPTEMBER 7, 2023

That partnership is everything,” Amy Breach, a Seattle-based Keller Williams agent, told HousingWire in late 2022. But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. The lender and LO can make or break the transaction.”

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Buyers Agents Loan Officers Real Estate 396

Housing Wire

SEPTEMBER 30, 2022

Another 125 basis points in hikes are still to come in 2022, with a federal funds rate topping out well above 4%. It’s transitioning to a buyers’ market, as 20% of sellers had a price reduction in August 2022, compared with 11% a year ago,” said Rich Weidel, CEO at Princeton Mortgage. Not yet anyway.

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Buyers Mortgage Loan Officers Retail 458

Housing Wire

MARCH 2, 2023

When the entire mortgage industry saw volume drop by more than half in 2022, nearly every lender emerged with battle scars. billion in 2022, up from the previous year’s $2.2 While investor bonds were scarce, A&D securitized its loans and sold the bonds, leading to seven securitization deals in 2022.

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Mortgage Investors Development Investing 397

Housing Wire

JUNE 23, 2022

Co-founded in 2019 by Tim Herman and Louis Wilson, the lender and “power buyer” allows homebuyers to make all-cash offers to compete with institutional investors. UpEquity earns a commission from brokering or selling the mortgage buyers take out to buy their homes.

Buyers 378

Buyers Investors Technology Training 378

Appraisal Buzz

SEPTEMBER 12, 2022

While many in the housing market are predicting a shift in power to buyers’ favor, that switch may not be coming anytime soon to according to a recent NerdWallet report due to tempered demand due to higher mortgage rates. The post Affordability Decreases for First-Time Buyers appeared first on Appraisal Buzz.

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Buyers Housing Market Appraisal Mortgage 195

Housing Wire

FEBRUARY 3, 2022

This article is part of our HousingWire 2022 forecast series. After the series wraps, join us on February 8 for the HW+ Virtual 2022 Forecast Event. 2022 Forecast series. What are the drivers of housing demand in 2022? 5 predictions for the 2022 housing market. The new 2022 houing market environment.

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Housing Market Marketing Supply Chain Mortgage 410

Housing Wire

DECEMBER 16, 2021

Nevertheless, while we view the trends described below as the most likely path for the economy and mortgage market in 2022, this news highlights the elevated level of uncertainty we’ve all been living with the past few years. A silver lining is that we are expecting both 2022 and 2023 to be record years for purchase originations.

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Marketing Mortgage Supply Chain Inventory 458

Housing Wire

APRIL 14, 2023

The benefits of homeownership only accrue if first-time buyers can both successfully purchase a home at a reasonable price and remain in it for the long-term, weathering various economic cycles. However, buyers are contending with rising interest rates , high home prices and constrained inventory. Mortgage Insurers.

Finance 361

Finance Buyers Insurance Housing Market 361

Housing Wire

APRIL 25, 2023

The Detroit-headquartered lender’s first special-purpose credit program debuted in December 2022. The program is available for buyers who met the requirements and are purchasing a home in countries across 10 metropolitan areas. For Rocket Pro TPO, home sellers or real estate agents funded the program for borrowers.

Buyers 355

Buyers Finance Real Estate Agent Government 355

Housing Wire

APRIL 13, 2021

“If they get a higher offer that has financing, then when appraisal comes back, the buyer is going to renegotiate the sales price to be closer to appraised value.”. Garrett said aside from cash buyers, he also has clients who have money to offset any appraisal gap. Either way, it puts the squeeze on property valuation.

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Housing Market Buyers Marketing Real Estate Agent 534

Appraisal Buzz

JULY 25, 2022

Until recently, the mortgage industry has been satisfied to leave the work of empowering new buyers to their real estate agents, so that loan officers (LOs) could spend time focusing on the flood of refinance business that led to a $4 trillion mortgage market in 2021.

Buyers 195

Buyers Real Estate Agent Marketing Loan Officers 195

Housing Wire

JANUARY 25, 2023

Buyers who qualify in these metro areas can use the assistance to purchase a house anywhere in the U.S., In addition, the company will offer zero- and low-down-payment options to expand access to VA, USDA, HomeOne, HomeReady, Home Possible loans and home equity lines of credit (HELOCs).

Buyers 384

Buyers Contracts Insurance Mortgage 384

Housing Wire

APRIL 19, 2023

But the landscape is changing, and ADU buyers (and ADU builders and makers) are adapting to it. In early 2022, people were locking into 3% and 4% interest rates. The often hyperlocal nature of ADU permitting can act as a deterrent to potential ADU buyers, who lack the expertise (or the time and energy) to navigate the regulatory maze.

Buyers 368

Buyers Real Estate Construction Finance 368

Housing Wire

FEBRUARY 9, 2023

Housing affordability hit a record low in the fourth quarter of 2022, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released Thursday. The all-time high of $390,000 was set in the second quarter of 2022. In addition, Q4 also saw average mortgage rates reach a series high of 6.80%.

Supply Chain 370

Supply Chain Housing Market Marketing Mortgage 370

Inman

JANUARY 10, 2024

Manhattan has been experiencing a buyers' marker since the summer of 2022, a new report argues, but the winds are about to shift.

Buyers 169

Buyers Real Estate Agents Marketing 169

Housing Wire

MARCH 10, 2023

California-based lender Guild Mortgage posted a higher profit in 2022 thanks to its increased purchase mortgage market share — and now has its eyes set on acquiring other lenders. In the fourth quarter of 2022, Guild’s purchase recapture was 25% and the company retained servicing rights for 89% of total loans sold during that period.

Business 365

Business Mortgage Loan Officers Retail 365

Housing Wire

JANUARY 27, 2023

Pending home sales ended 2022 on a positive note. Interested buyers are out there. After six consecutive months of declines, the Pending Home Sales Index rose 2.5% month over month in December to a reading of 76.9, according to data released Friday by the National Association of Realtors (NAR).

Contracts 421

Contracts Realtors Mortgage Buyers 421

Eyes on Housing

OCTOBER 31, 2022

Prospective buyers in the third quarter of 2022 are more likely to have higher levels of income and education than earlier in the year. In the third quarter of 2022, 69% of buyers could only afford a minority of homes for sale in their markets, a much lower share than in the. Read More ›

Buyers 187

Buyers Marketing 187

Appraisal Buzz

DECEMBER 20, 2021

After the challenges of landing a home in 2021, millennials and first-time buyers head into Q1 of 2022 set to land the home of their dreams. The post First-Time Buyers Willing to Overpay for Dream Homes appeared first on theMReport.com.

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Buyers Appraisal 195

Eyes on Housing

AUGUST 1, 2022

For the first time since 2020, prospective buyers expect housing availability to improve. After falling steadily for five quarters, the share expecting the home search to get easier in the months ahead grew from 17% to 22% between the first and second quarters of 2022.

Buyers 190

Buyers Mortgage Marketing 190

Housing Wire

APRIL 3, 2023

Rocket, which was displaced as America’s largest mortgage lender by rival United Wholesale Mortgage in the third quarter of 2022, is working to incentivize home sellers, too. For example, a homebuyer who puts 5% down on a $350,000 home would have a loan of $332,500. Those borrowers are eligible to receive an additional 0.5%

Agents 397

Agents Buyers Real Estate Agent Mortgage 397

Eyes on Housing

JANUARY 31, 2023

Dwindling housing affordability in the fourth quarter of 2022 caused the share of prospective home buyers who are actively engaged in the purchase process (i.e. The share of prospective buyers fully engaged in the buying process declined in every region between the.

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Buyers 190