Housing Wire

APRIL 5, 2024

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. Millennials comprised 75% of this demographic, with older millennials and Generation X (ages 44 to 58) accounting for 44% and 24% of first-time buyers.

Housing Market 374

Housing Market Marketing Training New Listings 374

Housing Wire

SEPTEMBER 27, 2023

Despite mass layoffs in the wake of the Federal Reserve’s fight against inflation, mortgage professionals still see opportunities in the market. Others allocated resources into digital marketing (31.1%), automation technology (26.7%) and market data (19.3%). in events to garner business. were from the Northeast 16.3%

Housing Market 370

Housing Market Mortgage Marketing Inventory 370

Housing Wire

FEBRUARY 13, 2024

Between July 1, 2022, and July 1, 2023, Alabama’s population grew by 34,000 people, according to estimates published by the U.S. Additionally, the 2023 National Movers Study conducted by United Van Lines ranked Alabama No. We do not have enough houses on the market to satisfy demand, even with the higher interest rates.”

Construction 353

Construction Supply Chain Inventory Agents 353

Housing Wire

FEBRUARY 24, 2023

New home sales started off 2023 on a positive note, rising 7.2% The uptick in the sales pace resulted in just 439,000 new homes remaining on the market at the end of the month, representing 7.9 Many home builders are offering incentives to buyers, sweetening the deal just enough to bump sales from the month prior.”

Construction 423

Construction Contracts Buyers Development 423

Housing Wire

NOVEMBER 29, 2023

Cutting prices is one of several mechanisms homebuilders have employed to keep buyers interested since rates began skyrocketing. Homebuilders are also pacing the number of homes they bring to market. The rate of homes under construction has roughly plateaued since April 2022. for the third quarter of 2023.

Construction 364

Construction Finance Inventory Development 364

Housing Wire

MAY 21, 2024

In a supply-constrained housing market , even landing a deal at foreclosure auction has become challenging, but those deals tend to be more readily available in markets or neighborhoods that are off the beaten path. It’s very, very market dependent right now. I’m still focusing on those markets with very low (retail) inventory.

Marketing 422

Marketing Investors Real Estate Investing 422

Housing Wire

NOVEMBER 10, 2022

David Meyer is thankful that his business is still plugging along during the wildest housing market in decades. With mortgage rates hovering around 7% and home prices still at record highs, buyers across America are calling off the house hunt and finding multifamily apartments. . It could be a while.

Construction 406

Construction Supply Chain Buyers Development 406

Housing Wire

SEPTEMBER 27, 2023

After experiencing a temporary hiccup between July 2022 to January 2023, the U.S. housing market is back on track , stronger than ever, with a total estimated value of $52 trillion, according to a new analysis by Orphe Divounguy, a senior economist at Zillow Group. housing market has surged by more than $2.6

Housing Market 499

Housing Market Marketing Inventory Construction 499

Housing Wire

JANUARY 23, 2024

For what felt like a moment in time, buyers enjoyed the luxury of being incredibly picky, carefully selecting what felt like their dream homes in a market that had shifted towards more favorable conditions. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

Real Estate Agent 403

Real Estate Agent Real Estate Buyers Agents 403

Housing Wire

JULY 6, 2023

The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.81% as of July 6, up significantly from last week ’s 6.71%. High rates combined with low inventory continue to price many potential homebuyers out of the market, added Khater.

Mortgage 375

Mortgage Construction Inventory Investors 375

Housing Wire

NOVEMBER 22, 2023

Going more in-depth than a Fed meeting, our virtual Housing Market Update event provides you with the strategy-building insights needed to operate in 2024. It’s a savagely unhealthy housing market out there, and these economists unpack what that means for you. Register for the virtual event on Dec.

Housing Market 476

Housing Market Marketing Inventory Sellers 476

Housing Wire

FEBRUARY 29, 2024

This is according to an analysis conducted by Point2 , which examined metrics including single-family and multifamily completions in 2023, as well as corresponding permits issued. Bureau of Labor Statistics from 2013 to 2023. The findings are based on historic data from the U.S. Census Bureau and the U.S.

Inventory 383

Inventory Supply Chain Construction Buyers 383

Housing Wire

FEBRUARY 5, 2024

An estimated 668,000 new homes were sold in 2023, 4.2% In the fourth quarter of 2023, almost 32% of U.S. single-family homes for sale were new construction, similar to the percentage from a year earlier and good for the highest level of any fourth quarter on record. Only 71% viewed this as a problem in 2023.

Construction 380

Construction Housing Market Buyers Sellers 380

Housing Wire

OCTOBER 18, 2022

Homebuilder confidence continued its downward spiral in October, hitting its lowest level since August 2012, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Tuesday. Three other indices monitored by the NAHB also posted declines in October.

Housing Market 391

Housing Market Buyers Contracts Construction 391

Housing Wire

MARCH 26, 2024

Last year might best be described as a risk-prone atmosphere for the single-family rental sector and the related fix-and-flip market. We didn’t call it a bear market, but we did call it a lack of liquidity, which I think is more accurate,” said L.D. In 2023, the landscape for home flipping across the U.S.

Investors 426

Investors Marketing Inventory Real Estate 426

Housing Wire

SEPTEMBER 14, 2023

Over one-third (34%) of prospective buyers have yet to purchase a home because there are not enough homes for sale in their budget, according to a new survey from the National Association of Realtors. The homebuyer survey was conducted by Morning Consult in June 2023.

Buyers 393

Buyers Inventory Realtors Finance 393

Housing Wire

JANUARY 3, 2024

Real Estate Market Outlook 2024. About 900,000 units are currently under construction , and 440,000 new units are expected to be completed in 2024, according to the report. Construction completions have already peaked in Chicago, Washington, D.C. and Las Vegas.

Inventory 385

Inventory Construction Property Management Real Estate 385

Housing Wire

DECEMBER 20, 2022

After record sales in 2021, demand for new construction waned throughout 2022 as the Federal Reserve raised interest rates cutting into home buyer’s purchase power and making financing new development projects even more costly for builders. As a result, I think it has actually insulated some aspects of the market.

Supply Chain 355

Supply Chain Construction Inventory Finance 355

Housing Wire

MAY 3, 2024

We’ve been a sellers’ market here for at least the past eight years, but probably closer to 10 or 11.“ On the existing-home market , agents say the lack of inventory is due to a rate-lock effect, as homeowners with mortgage rates at 5% or below are reluctant to give up their rate unless a major life change necessitates a move.

Inventory 290

Inventory Housing Market Marketing Real Estate 290

Housing Wire

MARCH 6, 2024

“Should mortgage rates fall, demand for residential real estate would increase, encouraging buyers who had been waiting on the sideline to move forward with home purchases,” according to the Beige Book. The Beige Book is published two weeks before each meeting of the policy-setting Federal Open Market Committee.

Mortgage 346

Mortgage Real Estate Inventory Construction 346

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. in March 2022 to 4.5%

Housing Market 324

Housing Market Marketing Construction Real Estate 324

Housing Wire

JANUARY 19, 2023

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said.

Inventory 375

Inventory Housing Market Marketing Construction 375

Housing Wire

JANUARY 22, 2024

Seniors largely want to remain in their own homes as they get older, and that preference could be remaking the housing market in the city of Chicago, according to a new report. The two organizations produce the quarterly Reverse Mortgage Market Index (RMMI) report. Boomers own 35.6% of the national U.S.

Housing Market 310

Housing Market Marketing Construction Insurance 310

Housing Wire

MARCH 27, 2024

Pre-pandemic, Jacksonville’s housing market was propelled by strong tailwinds: affordability relative to the rest of the Sunshine State, Florida’s lack of income tax and the quality of life benefits of having a river and oceanfront, to name a few. Listings jumped at both the state and city levels in 2021 and 2022.

Brokerage 381

Brokerage Realty Real Estate Inventory 381

Housing Wire

DECEMBER 20, 2022

Economists believe that if the trend continues, the market will be able to improve in the second half of 2023. . “The latest data on the housing market show that homebuilders are pulling back the pace of new construction in response to low levels of traffic, and we expect this weakness in demand will persist in 2023, as the U.S.

Mortgage 403

Mortgage Housing Market Retail Contracts 403

Housing Wire

MAY 15, 2024

With mortgage rates hovering north of 7% for the past few months, builder confidence declined for the first time since November 2023. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) sat at 45 in May, down 6 points from April ’s reading of 51, according to data released on Wednesday.

Buyers 331

Buyers Housing Market Insurance Construction 331

Housing Wire

DECEMBER 1, 2022

Interest rates and inflation continued to dampen activity in the housing market across all 12 Federal Reserve districts, according to the Fed’s latest Beige Book. Following dampened activity from buyers, sellers provided increased concessions, such as temporary rate buydowns or paying closing costs to complete sales, the report noted. .”

Housing Market 313

Housing Market Marketing Construction Inventory 313

Housing Wire

APRIL 9, 2024

Homebuilders are observing a rise in demand for homes that can accommodate natural aging from Gen X buyers. Gen X buyers are also more likely to have more financial means and control over their potential options, and are keeping access to necessary later-life services in mind when choosing where to live as they get older, the story explained.

Buyers 488

Buyers Construction Realtors Development 488

Housing Wire

MARCH 25, 2024

rise from the February 2023 pace of 625,000 units sold. Builder confidence, as measured by a survey from the National Association of Home Builders (NAHB), improved to a reading of 51 in March , its highest level since July 2023. Affordability remains a challenge in the housing market, particularly for first-time homebuyers.

Construction 366

Construction Inventory Housing Market Finance 366

Housing Wire

FEBRUARY 21, 2024

The deal came on the front end of market hype about the build-to-rent space, which cooled somewhat in 2023 as higher interest rates prompted a pullback by builders. Sales were half that in 2023, but the commercial real estate brokerage notes that $1.5 Similarly, construction has slowed but remains elevated.

Investors 421

Investors Construction Real Estate Inventory 421

Housing Wire

FEBRUARY 26, 2024

increase from the revised December rate of 651,000, it falls slightly below market expectations. rise from the January 2023 pace of 649,000 units sold. The uptick in new-home sales underscores the persistent strength of demand in the housing market despite the challenges posed by winter weather. While this figure represents a 1.5%

Construction 405

Construction Development Housing Market Government 405

Appraisal Buzz

MAY 23, 2024

compared with April 2023, according to estimates from the U.S. The average sales price was $505,700. “The last four weeks mortgage rates have been above 7 percent and this is clearly causing many potential home buyers to sit on the fence,” says Carl Harris, chairman of the National Association of Home Builders (NAHB), in a statement.

Mortgage 221

Mortgage Construction Buyers Inventory 221

Housing Wire

NOVEMBER 27, 2023

One of the urban myths spouted by people needing more experience tracking housing data was that millions of homes would hit the marketplace in 2023 because the builders had so many homes under construction. months and below, this is an excellent market for builders. months , this is just an OK market for builders.

Construction 421

Construction Buyers Mortgage Inventory 421

Housing Wire

MAY 11, 2024

Mortgage rates and the bond market have fallen a bit recently and the spreads between the 10-year yield and 30-year mortgage rate have improved over last year’s levels. To see mortgage rates drop and stay lower, the bond market needs to know the labor market is getting softer. That’s a 0.50% difference in rates.

Mortgage 394

Mortgage Inventory New Listings Housing Market 394

Housing Wire

MARCH 18, 2024

Strong demand, coupled with a lack of existing housing inventory and comparatively lower mortgage rates continue to drive buyers to new home construction, Homebuilder confidence continued its upward trajectory for the fourth straight month in March as builders await future rate cuts by the Federal Reserve. An index of 50 is neutral.

Inventory 408

Inventory Buyers Housing Market Finance 408

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher, VRM Mortgage Services HW: What does the current market and demand for REO assets look like? Balancing supply and demand is a delicate dance between new construction and existing properties. Presently, the demand for existing homes outpaces the available supply, raising potential concerns for both sellers and buyers.

Business 337

Business Marketing Real Estate Legal 337

Housing Wire

JANUARY 26, 2024

The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. According to an NAR outlook, home sales are projected to rise significantly in 2024 and 2025 as the housing market steadily returns to normal. in November.

Contracts 445

Contracts Housing Market Construction Inventory 445