Housing Wire

MARCH 25, 2024

Mortgage rates seem to have finally settled down. I was worried that we might come out of that meeting with a spike in mortgage rates but that didn’t materialize so we got lucky. More sellers means more sales will happen. The longer mortgage rates stay higher, the more inventory will grow closer to the old levels.

New Listings 479

New Listings Inventory Contracts Sellers 479

Housing Wire

APRIL 1, 2024

As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. At the same time, seller volume dried up. But now sellers are coming back into the market. Pending sales Last week saw 69,000 new contracts for single-family home purchases across the country.

Inventory 457

Inventory New Listings Contracts Sellers 457

Housing Wire

OCTOBER 31, 2023

We may be nearing the bottom in home sales even if mortgage rates don’t decline. New listings decline isn’t as steep as a year ago There were only 53,000 new listings (single-family homes) unsold this week, plus 10,000 more new listings that are already in contract. There are far fewer sellers now than in any recent year.

New Listings 466

New Listings Inventory Contracts Housing Market 466

Housing Wire

MAY 20, 2024

The second dynamic to watch here is how many sellers are cutting their prices each week. It’s not as steep as 2022 — the market now is not shifting as quickly from big growth to price declines, like it did briefly about 18 months ago. So inventory is growing everywhere and will continue to grow as long as mortgage rates stay elevated.

Inventory 392

Inventory New Listings Sellers Contracts 392

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.” But the housing market in the second half of 2022? A mortgage rate lockdown freezes the housing market. over asking price.

Housing Market 490

Housing Market Marketing Real Estate Agent Real Estate 490

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. The average interest rate on a 30-year-fixed mortgage was 7.07% in August. That rate is up from 14.3% The median U.S.

Buyers 390

Buyers Mortgage New Listings Real Estate Agent 390

Housing Wire

JANUARY 2, 2024

We have more homes going into contract each week now than we did a year ago — supply and demand are climbing together. This implies that there are more than enough buyers at these prices and these mortgage rates to keep activity happening in housing. Each week sellers are easing back into the market a little more than last year.

Housing Market 524

Housing Market Marketing Inventory Contracts 524

Housing Wire

JANUARY 29, 2024

The headline was an impressive 8% jump over December of 2022. They obviously picked up in December when mortgage rates did a recent dip. However, December’s momentum slowed very quickly in January as mortgage rates jumped back up and as a deep freeze gripped the country. Assuming mortgage rates stay in the 6s.

Contracts 390

Contracts Inventory Housing Market Mortgage 390

Housing Wire

MARCH 18, 2024

At the time, I observed that even if mortgage rates stayed flat, the momentum seemed to be in the cards for broad, slow growth in the market. However, mortgage rates didn’t stay flat. 1 and as of today, March 18, mortgage rates are 30-40 basis points higher than Jan. This week in 2022 was the last of the 3% mortgages.

Inventory 384

Inventory New Listings Sellers Contracts 384

Housing Wire

NOVEMBER 27, 2023

There were 58,000 new listings this week, with 10,000 of those homes already under contract as immediate sales. A few more sellers appear to be braving the market each week. However, if mortgage rates were to jump again, we could see sales slip, so it’s a delicate balance. We had 52,000 new pending sales this week.

New Listings 479

New Listings Contracts Inventory Housing Market 479

Housing Wire

OCTOBER 16, 2023

It’s quite clear that homebuyers have hit the brakes waiting to see if mortgage rates recede from these multi-decade highs. Note the inventory climb is not from sellers. 5% fewer sellers each week than last year. There are only 326,000 single-family homes in the contract pending stage. Some 38.2%

Inventory 435

Inventory Contracts Sellers New Listings 435

Housing Wire

JANUARY 8, 2024

2022 started insanely strong and weakened rapidly in the second quarter. 2023 started with recovery, but slowed down in Q3 as mortgage rates hit 8%. Sellers are coming back There are 499,000 single-family homes unsold on the market now. There are slightly more sellers each week. Sales were held back for lack of sellers.

Real Estate 487

Real Estate Marketing Inventory New Listings 487

Housing Wire

NOVEMBER 6, 2023

Consumers care about home prices and mortgage rates; the industry cares about transaction volume. If we get lucky with mortgage rates, though, we might just be at the bottom of the housing market recession right now. Remember the Altos rule: If mortgage rates go up, inventory will build in 2024. While home prices in the U.S.

Housing Market 475

Housing Market Marketing Inventory Contracts 475

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. It was in December 2022 that the lender discovered Chikonde’s actions regarding Optimal Blue.

Mortgage 340

Mortgage Marketing Retail Construction 340

Appraisal Buzz

DECEMBER 27, 2021

Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. Five months later, the frequency increased to 19%, leaving homebuyers to either pay more out of pocket or request the seller to lower their asking price. of homes are valued lower than the contract price. More Remote Contact.

Appraisal 397

Appraisal Valuation Modernization Contracts 397

Housing Wire

MARCH 8, 2023

It’s counterintuitive but real: Despite surging mortgage rates , borrowers’ demand for home loans rose last week. There were very low levels of mortgage applications in the weeks prior to the surprising uptick. retail residential mortgage applications. In addition, adjustable-rate mortgages rose 13.9%

Mortgage 355

Mortgage Loan Officers Investors Government 355

Housing Wire

SEPTEMBER 26, 2023

We’re seeing fewer new sellers each week, but inventory is building as homebuyers wait to see if mortgage rates will come down to make purchases more affordable. Fewer new sellers also means that inventory can’t grow too much; the real trouble develops when demand drops and supply surges. What’s happening with inventory?

Inventory 481

Inventory Contracts New Listings Mortgage 481

Housing Wire

MAY 2, 2024

In early November, 30-year fixed mortgage rates began a nosedive, declining from near 8% to below 7% in a matter of months before once again starting to rise at the start of 2024. at the end of April, according to HousingWire ’s Mortgage Rates Center. Non-QM mortgages include loans that cannot be purchased by Fannie Mae or Freddie Mac.

Marketing 361

Marketing Mortgage Investors Sellers 361

Housing Wire

AUGUST 7, 2023

Even as mortgage rates climbed over 7% in the past six weeks, home prices have not declined. Mortgage rates are sitting at their highest levels in many years. The surprisingly strong economy has the markets assuming the Fed will keep rates higher for longer, therefore, mortgage rates follow suit. in just a few weeks.

Inventory 282

Inventory New Listings Contracts Buyers 282

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% in 2022 Tampa : 43.1%

Sellers 78

Sellers Buyers Agents Contracts 78

Housing Wire

NOVEMBER 17, 2023

compared to October 2022, it’s still the smallest annual decline in nearly two years, according to a report from Redfin. Sellers cut prices or offered concessions to get to the closing table. in October 2022. Since late October, mortgage rates have fallen slightly, spurring an uptick in buyer demand. year over year.

Buyers 387

Buyers Sellers Contracts Mortgage 387

Housing Wire

NOVEMBER 21, 2023

Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. Compared to October 2022, existing home sales slumped 14.6%, down from 4.44 lower than October 2022 when inventory was at 1.22 months in October 2022. months in September and 3.3

Inventory 377

Inventory Realtors New Listings Contracts 377

Housing Wire

FEBRUARY 7, 2023

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022.

Mortgage 362

Mortgage Loan Officers Government Buyers 362

Empire Appraisal Group

FEBRUARY 29, 2024

Lusky, DigitalVision, Getty Images Source: [link] FSBO Sellers Regret Not Having an Agent By Melissa Dittmann Tracey Survey: Sellers who go-it alone are twice as likely to be unsatisfied with the experience – and more likely to say their earlier opinion, “agents are overpaid,” was wrong.

Sellers 78

Sellers Agents Real Estate Agent Real Estate 78

Housing Wire

DECEMBER 11, 2023

The second takeaway is the lesson I’ve been sharing lately: Consumers are more sensitive to changes in mortgage rates than to the absolute levels of rates. Last year mortgage interest rates rose by 450 basis points from 3% to 7.5%. It’s a reflection of very high mortgage rates and how quickly rates rose in September and October.

Inventory 436

Inventory Contracts Sellers Housing Market 436

Housing Wire

SEPTEMBER 7, 2023

Mortgage rates peaked at 7.5% Rising mortgage rates mean rising inventory as home buyer demand slows quickly. Last year at this time, mortgage rates began to spike dramatically from under 6% to 7.5% Last year, the change in mortgage rates was rapid enough to drive home sales prices down. in a few weeks. That’s this year.

Contracts 402

Contracts Inventory Buyers New Listings 402

Housing Wire

SEPTEMBER 12, 2023

Supply of homes for sale is very low, and most of the year we’ve had more buyers than sellers. New contracts dipped as affordability is out of reach for so many. Last year inventory was about to start climbing again with that autumn spike in mortgage rates. This year, while mortgage rates are high, they aren’t climbing now.

Contracts 363

Contracts Inventory Housing Market Buyers 363

Housing Wire

MAY 22, 2024

So, unless mortgage rates drop fast and demand picks up, inventory should have an average year of growth before the seasonal decline. We have had two times recently when mortgage rates dropped more than 1%. The chart below shows that the inventory growth rate picked up more in 2024 after March.

Inventory 449

Inventory New Listings Housing Market Contracts 449

Housing Wire

JULY 17, 2023

In the fall of 2022 after mortgage rates jumped to 7.5%, I thought maybe we’d missed the soft landing call. By October 2022, it looked like 2023 would have rising inventory and falling home prices. Sellers have not materialized, and buyers have been buying everything that becomes available. I grew pretty bearish again.

Real Estate 283

Real Estate Marketing Inventory Contracts 283

Housing Wire

MAY 31, 2022

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. Chicago’s housing market started out hot in 2022. trillion in 2022, down significantly from last year’s $4 trillion.

Mortgage 382

Mortgage Construction Lending Real Estate 382

Inman

FEBRUARY 5, 2024

percent decline in net new listings and a 2 percent decrease in contract signings, driven by mortgage rate fluctuations, according to HouseCanary. Despite a rise in total inventory compared to 2022 and 2023, the market is still behind historical inventory averages as sellers avoid entering a higher rate environment.

New Listings 138

New Listings Contracts Inventory Real Estate 138

Housing Wire

DECEMBER 4, 2023

New listings and home sales remain low this week while available inventory of unsold homes is finally falling across the country after rising with mortgage rates late into November. Home prices will also be up and we have more homes under contract than we did at the end of 2022. More sellers equals more home sales in 2024.

Housing Market 483

Housing Market Marketing Inventory New Listings 483

Housing Wire

JULY 24, 2023

Pending Sales There are now 378,000 single-family homes in contract. There were 68,000 new contracts for single-family homes this week. In the chart below, the light portion of each bar represents the new contracts each week. But, there were another 15,000 condos and townhomes that went into contract this week.

Inventory 285

Inventory Contracts New Listings Buyers 285

Housing Wire

AUGUST 1, 2023

All year, the strength of homebuyer demand and the tight supply of homes for sale has meant that the market pretty rapidly found a floor on the home-price correction of 2022. If you were looking at the market in the fall of 2022, you would have expected home prices to continue to fall further in 2023. That’s what I was expecting.

Inventory 341

Inventory Contracts Buyers Mortgage 341

Housing Wire

OCTOBER 12, 2022

The latest forecast also projects total mortgage origination activity at $1.6 trillion in 2022, a $78 billion decline from last month’s forecast. The mortgage market is projected to slip further to $1.3 million in 2022 and 3.93 contraction in real GDP in 2023. Presented by: Polly. million in 2023.

Contracts 414

Contracts Modernization Housing Market Mortgage 414

Housing Wire

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. Northpointe was the 24th largest correspondent lender , according to Inside Mortgage Finance.

Lending 351

Lending Business Retail Client Relationships 351

Hank Miller Team

FEBRUARY 8, 2022

So what happens if the appraisal is below contract price? Appraisals below contract price will continue to be a challenge in 2022. Consider, appraisals this year will be using data from the already insane market of 2021 and many will still fall below contract.

Contracts 98

Contracts Appraisal Sellers Buyers 98