Housing Wire

AUGUST 22, 2023

“Home sellers are buyers” — this is a phrase that I have been using in my economic work to explain the reality of the housing market recently. So, when home prices and mortgage rates rise so quickly, some sellers won’t list , which means they’re not buying either. million in July 2022). million in July.

Sellers 352

Sellers Marketing Inventory Housing Market 352

Appraisal Buzz

JULY 18, 2022

Unless you’re living under a rock, you have heard that interest rates have been rapidly increasing since Q1 of 2022. The average 30-year fixed rate mortgage rate was its lowest ever at 2.65% on December 31, 2021. It consistently climbed to 3.76% as of March 3, 2022, and as of the date I’m writing this, it is 5.81%.

Sellers 435

Sellers Marketing Market Value Home Value 435

Housing Wire

OCTOBER 11, 2022

There’s a showdown at the housing market corral between homebuyers and sellers. It facilitated a very unhealthy housing market in 2020-2021 that became savage in 2022. To top it all off, we started 2022 at all-time lows, forcing bidding action everywhere until mortgage rates rose. million today. million today.

Sellers 498

Sellers Inventory Housing Market New Listings 498

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.

Mortgage 381

Mortgage Sellers New Listings Buyers 381

Housing Wire

FEBRUARY 6, 2024

The elevated interest rate environment has brought an old product, the assumable mortgage, back into fashion. Assumable mortgages remain a niche market compared to new mortgage issuance. An assumable mortgage enables qualified buyers to take over the seller’s mortgage terms, including the existing balance and interest rate.

Mortgage 362

Mortgage Sellers Advertising Buyers 362

Housing Wire

MAY 14, 2024

“Most of the demand is coming from first-time buyers,” Trevor Levin, a local agent with Los Angeles-based Nourmand & Associates , said. Nationwide, the share of buyers who are first-time buyers has risen in recent months. Nationwide, the share of buyers who are first-time buyers has risen in recent months.

Buyers 359

Buyers Inventory Landlords Real Estate 359

Housing Wire

NOVEMBER 16, 2022

By the time 2022 is wrapped up, mortgage lenders will have originated about $2.2 But Brian Hale, who is assisting several buyers in their hunt for independent mortgage bank acquisition targets, sees an even more brutal landscape ahead. Who wants to be in the mortgage business? trillion to $1.7 trillion.

Buyers 398

Buyers Mortgage Sellers Investing 398

Housing Wire

MARCH 8, 2024

“At the height of the pandemic there were bidding wars and all that, but it didn’t seem impossible, but now it seems impossible to get our buyers into homes,” said Heather Corrigan , a RE/MAX Signature Homes agent based in Closter, a borough that is 24 miles north of Manhattan and renown for its schools. as of March 6, 2024.

Housing Market 391

Housing Market Buyers Agents Marketing 391

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. Presented by: FormFree.

Buyers 448

Buyers Mortgage Loan Officers Retail 448

Housing Wire

APRIL 30, 2024

Mortgage rates inched higher last week ahead of the Federal Reserve ’s Federal Open Markets Committee on Wednesday and the national jobs report on Friday. Unsold inventory was nearly 32% higher than at this time last year and 90% higher compared to the end of April 2022. “The

Mortgage 351

Mortgage New Listings Inventory Sellers 351

Housing Wire

APRIL 3, 2023

Rocket Mortgage is throwing a big incentive at spring homebuyers, offering them up to $10,000 in closing cost credits if they work with a real estate agent through its affiliate, Rocket Homes. “With BUY+, Rocket Mortgage is making this process a lot easier to achieve, lowering a hurdle for those who are ready for a home of their own.”

Agents 382

Agents Buyers Real Estate Agent Mortgage 382

Housing Wire

DECEMBER 9, 2023

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. This happened even with higher home prices and higher mortgage rates in 2023. Now lets take a look at the weekly inventory data.

Mortgage 517

Mortgage Inventory New Listings Sellers 517

Housing Wire

APRIL 25, 2024

Buyers are really struggling.” Although this is up from an all-time low of 1,429 active listings in early May 2022, it is down from the 3,021 listings recorded in late April 2020, a little over a month into the COVID-19 pandemic. But rising prices are not the only financial challenge buyers are having to contend with right now.

Buyers 374

Buyers Marketing Inventory Investors 374

Housing Wire

JANUARY 10, 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. Sellers saw a market where their homes sold quickly and often above list price as multiple buyers competed to have the winning bid. . for 30-year fixed-rate loans.

Housing Market 545

Housing Market Marketing Construction Inventory 545

Housing Wire

APRIL 15, 2024

We saw a big jump in mortgage rates last week. The 30-year fixed rate mortgage, according to the HousingWire Mortgage Rates Center , is now over 7.2% — that’s 50 basis points above where we were at the start of the year. At that time, most of the voices in the media assumed that mortgage rates had peaked and would fall by now.

Inventory 373

Inventory Mortgage New Listings Sellers 373

Housing Wire

MARCH 5, 2024

Ahead of Friday’s national jobs report, mortgage rates have found stability after increasing for multiple weeks. Polly ’s average 30-year fixed rate for conventional loans was 7.17% on Tuesday, down from 7.24% one week earlier, according to HousingWire’s Mortgage Rates Center. one week earlier. Between Feb.

Mortgage 422

Mortgage Inventory Sellers Investors 422

Housing Wire

FEBRUARY 8, 2024

Mortgage rates stabilized this week despite newly released economic data. The 30-year fixed-rate mortgage averaged 6.64% as of Feb. 8, a slight increase from last week ’s figure of 6.63%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgage 389

Mortgage Marketing Sellers Buyers 389

Housing Wire

OCTOBER 20, 2022

Despite this drop, investment returns for home sellers is still up from 48.8% ATTOM says these factors are raising homeownership costs for buyers, which it says “cuts into resources available for down payments on purchases” and impacts overall household budgets. Metro results for home sellers. of sales in Q3 of 2021.

Sellers 365

Sellers Investing Housing Market Real Estate 365

Empire Appraisal Group

DECEMBER 14, 2023

1 in 3 Sellers Granting Buyer Concessions By Kerry Smith Two Fla. SEATTLE – Home sellers gave concessions to buyers in 35% of U.S. Orlando came closest to the national numbers in 2023 and 2022, and while Miami saw a decline in concessions, it was on par with national ones. in 2022 Orlando : 34.3%

Sellers 78

Sellers Buyers Agents Contracts 78

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(!)

Housing Market 490

Housing Market Marketing Real Estate Agent Real Estate 490

Housing Wire

MARCH 2, 2024

The mortgage rate lockdown premise says that if rates rise, inventory can’t grow meaningfully. The idea is that nobody will trade their low mortgage rates to buy another home — even though this happened every week last year. With mortgage rates higher, will this stop inventory from growing year over year?

Inventory 531

Inventory Mortgage New Listings Housing Market 531

Housing Wire

MAY 20, 2024

Remote work and historically low mortgage rates made it particularly attractive to buy a home. Second, homeowners have been reluctant to sell their houses due to mortgage rates, which have reached a two-decade high point. Many potential sellers prefer to keep their low rates rather than move and trade in for higher ones. “We

Construction 400

Construction Inventory Buyers Sellers 400

Housing Wire

NOVEMBER 25, 2023

Lower mortgage rates tend to take housing supply off the market and demand has been picking up lately as rates have fallen. However, the recent drop in housing inventory has more to do with seasonality factors than lower mortgage rates. The question now is what will inventory look like in the spring if mortgage rates keep falling?

Inventory 521

Inventory Mortgage New Listings Buyers 521

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.”

Buyers 373

Buyers Agents Loan Officers Real Estate 373

Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. I will watch for rising mortgage rates to see if they change the weekly data. I will watch for rising mortgage rates to see if they change the weekly data. I talked about this very topic on CNBC a few days ago.

Inventory 536

Inventory Mortgage New Listings Sellers 536

Housing Wire

DECEMBER 2, 2023

Mortgage rates almost fell below 7%, the 10-year yield is below 4.25% again, and people are seriously talking about Fed rate cuts in 2024. Mortgage rates have fallen by almost 1% in a short time, and it has created four straight weeks of positive purchase application data. Mortgage rates and the 10-year yield We are back!

Mortgage 542

Mortgage Inventory New Listings Sellers 542

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. in 2021 and as high as 6.25% in 2022. It wasn’t the rate move that caught my attention — it was the new listing data. The parts of the U.S.

Mortgage 513

Mortgage Inventory New Listings Sellers 513

Housing Wire

MAY 20, 2024

The second dynamic to watch here is how many sellers are cutting their prices each week. Both dynamics are elevated this year: more of the homes on the market have taken price cuts and the slope is pretty steep — meaning more homes each week are cutting prices because they don’t have offers from buyers.

Inventory 392

Inventory New Listings Sellers Contracts 392

Housing Wire

MAY 26, 2023

Secret Service , notified the title industry of a rise in what is known as vacant lot fraud, or seller impersonation fraud. “We We started to hear a lot about seller impersonation fraud early on in the year,” Tyler Adams, the CEO of CertifID, said. “We Oftentimes this leads to the discovery of vacant lots. billion, up from $6.9

Sellers 358

Sellers Real Estate Realtors Real Estate Agent 358

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 339

Buyers Realty Real Estate Realtors 339

Housing Wire

NOVEMBER 10, 2023

Redfin classified purchases as all-cash when transactions had no mortgage loan information on the deed. High mortgage rates are exacerbating inequality between people who own homes and people who don’t,” Redfin Senior Economist Sheharyar Bokhari said. That’s the highest down-payment percentage since June 2022. respectively.

Mortgage 413

Mortgage Buyers Insurance Government 413

Housing Wire

FEBRUARY 4, 2024

How will mortgage rates impact seasonal inventory in 2024? Also, when mortgage rates rise, the inventory peak happens later in the year. Never forget most sellers are buyers of homes as well, especially if the economy isn’t in a job loss recession. Is the seasonal bottom going to happen later than I want?

Inventory 493

Inventory Mortgage New Listings Housing Market 493

Housing Wire

MARCH 5, 2024

Mortgage assumption is a niche option that gained momentum in 2023. An assumable mortgage enables a qualified buyer to take over a seller’s mortgage terms, including the existing balance and interest rate. trillion in mortgages were originated in 2020 and 2021, the Mortgage Bankers Association (MBA) reported.

Mortgage 389

Mortgage Buyers Agents Real Estate Agent 389

Housing Wire

NOVEMBER 13, 2023

Buying a house was obtainable only for the haves in 2023 as home prices and mortgage rates soared. Homebuyers’ median household income increased by $19,000 this year from 2022, reaching $107,000, according to the National Association of Realtors ’ 2023 Profile of Homebuyers and Sellers. Meanwhile, in September, one-third of U.S.

Real Estate Agent 350

Real Estate Agent Real Estate Agents Sellers 350

Housing Wire

JANUARY 12, 2024

in mid-2022. homeowners with mortgages had an interest rate below 6%. To conduct this study , Redfin analyzed data from the Federal Housing Finance Agency ’s National Mortgage Database as of the third quarter of 2023. For repeat buyers and first-time buyers who entered the market in 2022, the average mortgage rate was above 6%.

Real Estate Agent 457

Real Estate Agent Sellers Inventory Mortgage 457

Housing Wire

JULY 29, 2022

metropolitan areas in February 2022, based on year-over-year growth in median listing price according to the residential real estate listing website, Realtor.com. Table 1: 10 Hottest Housing Markets out of the Top 250 Metro Areas, February 2022. Table 2: 10 Hottest Housing Markets out of the Top 250 Metro Areas, June 2022.

Housing Market 390

Housing Market Sellers Marketing New Listings 390

Housing Wire

MAY 28, 2024

No one wants a scenario in which there’s a flood of sellers but no buyers. But, basically, inventory is still climbing everywhere as mortgage rates are still north of 7%. And this trend will continue until mortgage rates drop significantly. Inventory in 2022 was building much more quickly than it is now.

Inventory 511

Inventory New Listings Contracts Sellers 511