Housing Wire

JANUARY 9, 2023

One slice of the single-family home market that has gained traction over the past year in a topsy-turvy housing landscape is the build-for-rent sector — or BFR. While the market share of [single-family] BFR homes is small, it has clearly been trending higher,” the NAHB report continues. In addition, JP Morgan Chase & Co.

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Housing Market Marketing Construction Development 544

Housing Wire

MAY 22, 2023

While Fannie Mae expects sales to soften somewhat later in the year, the new housing market appears more upbeat than it was at the start of the year. Pending home sales, which lead contract signings on average by 30-45 days, declined during that time by 5.2%, pointing to a further sales slowdown in April and May.

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Construction Inventory Government Contracts 379

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.

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Mortgage Housing Market Retail Contracts 403

Housing Wire

OCTOBER 26, 2023

Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” Lawrence Yun, NAR chief economist said in a statement. in 2023, reaching an annual rate of 670,000. For those new construction units, the national median new home price is projected to drop by 5.9%

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Inventory Contracts Housing Market Realtors 355

Housing Wire

APRIL 28, 2022

” Lawrence Yun, chief economist for the NAR , said the dip in contract signings suggests “multiple offers will soon dissipate and be replaced by much calmer and normalized market conditions.”. by 2023, Yun said. “As He also expects higher mortgage rates to remain a key factor affecting home sales.

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Housing Wire

JANUARY 13, 2023

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. of builders showed profitability with $1 million plus contracts on average. This number is expected to increase to 72% in 2023.

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Marketing Contracts Supply Chain Project Management 436

Housing Wire

JANUARY 19, 2024

The government sponsored enterprise is projecting that rates will drop below 6% by the end of 2024, which in turn will boost refi volumes and help thaw the existing home sales market. Following years of volatility in mortgage rates, the housing market will begin its gradual return to a more normal balance in 2024. from a 0.3%

Mortgage 540

Mortgage Contracts Construction Government 540

Housing Wire

MAY 28, 2024

It’s the end of May and unsold inventory on the market is increasing across the U.S. Every state in the country has more homes on the market now than a year ago and, in many places, new construction is being completed and added to inventory, so it’s not just resale inventory that’s growing. immediate sales).

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Inventory New Listings Contracts Sellers 511

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. BH: What are you expecting to see in terms of demand for new construction heading into 2023?

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Supply Chain Construction Inventory Finance 355

Housing Wire

DECEMBER 4, 2020

More importantly, he said the current environment may even holdup into 2023. “We However, Nothaft expects that mortgages originated today, with a contract rate of 3% or lower, are more likely to have a relatively long life and lenders will not see them coming into refinance anytime soon. “That’s a lot of mortgages.

Mortgage 506

Mortgage Contracts Construction Inventory 506

Housing Wire

FEBRUARY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. NAR expects the economy to continue adding jobs throughout 2023 and 2024, and the 30-year fixed rate mortgage to steadily drop to an average of 6.1% in 2023 and 5.4% year over year in 2023 to a total of 4.47 year over year in 2023 before posting a 19.4%

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Housing Market Realtors Contracts Buyers 393

Housing Wire

MARCH 6, 2024

The Beige Book is published two weeks before each meeting of the policy-setting Federal Open Market Committee. The benchmark rate was last changed in July 2023, when it was raised to a range of 5.25% to 5.5%. New York: Housing markets strengthened as the spring selling season got underway a bit earlier than normal.

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Mortgage Real Estate Inventory Construction 346

Housing Wire

JANUARY 19, 2024

It happened in 2008 and then didn’t happen again until 2023. Our housing market tracker counts weekly active single-family listings, those homes that aren’t in the contract, and the raw available number of homes for sale. Whenever the days on the market fall to a teenager level, nothing good happens in housing.

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Housing Market Inventory Contracts Marketing 405

Housing Wire

FEBRUARY 26, 2024

It’s not the safest business model either because builders take a contract to buy a home and then, from start to finish, hope that mortgage rates don’t jump on the buyer by the time the home is ready. In fact, even during the years of the housing bubble crash, this number never reached 200,000. Why so low? percent (±19.9 percent (±19.4

Construction 522

Construction Business Contracts Marketing 522

Housing Wire

JANUARY 20, 2023

Homebuilder confidence and demand for mortgages have increased recently, keeping hopes high for an improved housing market in 2023. But a modest recession is still expected this year, and elevated mortgage rates, coupled with high home prices, will limit housing activity, according to Fannie Mae. over the next two years.

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Mortgage Housing Market Buyers Contracts 346

Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The recovery has not taken place, but the housing recession is over,” said NAR Chief Economist Lawrence Yun. The presence of multiple offers implies that housing demand is not being satisfied due to lack of supply. in 2023 before increasing to 4.1%

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Construction Inventory Realtors Housing Market 339

Housing Wire

SEPTEMBER 12, 2023

So, the author tried to use new construction prices from back in April to describe the whole U.S. 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. This week continues that trend.

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Contracts Inventory Housing Market Buyers 363

Housing Wire

MAY 23, 2023

housing market. And with total active house listings in America near all-time lows, that is all we have for completed units for sale. From Census: New home sales: Sales of new single‐family houses in April 2023 were at a seasonally adjusted annual rate of 683,000, according to estimates released jointly today by the U.S.

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Inventory Housing Market Construction Marketing 516

Housing Wire

APRIL 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The lack of housing inventory is a major constraint to rising sales,” Lawrence Yun , NAR’s chief economist, said in a statement. Limited housing supply is simply not meeting demand nationally.” in 2023 and 5.6% in 2024, and housing starts will fall 7.3%

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Inventory Realtors Contracts Construction 387

Housing Wire

DECEMBER 19, 2022

This drop marks one full year of declines in builder confidence, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Monday. In December, builder confidence in the market for newly built single-family homes fell two points compared to November.

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Contracts Construction Buyers Housing Market 370

Housing Wire

OCTOBER 26, 2022

months, and below, this is an excellent market for builders. months , this is just an OK market for the builders. The builders will pull back on construction when the supply is 6.5 adjusted estimate of new houses for sale at the end of September was 462,000. months of supply is still under construction 2.1

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Construction Inventory Contracts Buyers 437

Housing Wire

FEBRUARY 21, 2023

The mortgage industry started 2023 with optimism due to an increase in housing activity. Fannie Mae expects home sales to remain subdued for the remainder of 2023, although recent mortgage application data came in stronger than expected. The agency now expects 2023 purchase volumes to be $1.3 trillion in 2023 and $2.03

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Inventory Mortgage Housing Market Contracts 369

Housing Wire

AUGUST 24, 2023

“In order to achieve a soft landing, economic growth will have to slow to a rate that is below trend for some time in order for the unemployment rate to rise sufficiently to cause wage growth to slow consistent with a 2% inflation target over the long term, but not so slow that the economy falls into a contraction,” the ESR group said.

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Construction Retail Mortgage Contracts 262

Housing Wire

JUNE 7, 2022

Consumers’ concerns about housing affordability are squeezing would-be homebuyers out of the market, according to Fannie Mae ‘ s Home Purchasing Sentiment Index , which tracks the housing market and consumer confidence to sell or buy a home. The index score dropped by 0.3 points to 68.2

Mortgage 364

Mortgage Housing Market Contracts Construction 364

Housing Wire

FEBRUARY 22, 2022

homebuilder, housing starts, lumber, builders, builder confidence, construction. Owing to a historic inventory crunch, new construction is playing a more prominent role in the housing inventory landscape in decades. single family homes on the market were new builds, according to a report by Redfin.

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Supply Chain Construction Inventory Housing Market 534

Hank Miller Team

JULY 12, 2023

The first half of the Atlanta 2023 housing market shared many similarities with the first half of the 2022 real estate market. In fact, some market are ahead of those record highs of '22. Clearly it's not the same market, but the interest rate shock seems to be accounted for. have a rate below 5.

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Housing Market Marketing Buyers Sellers 40

Empire Appraisal Group

JANUARY 11, 2023

2023 Real Estate Forecast: Market to Regain Normalcy. Source: 2023 Real Estate Forecast: Market to Regain Normalcy (nar.realtor). But even though mortgage rates and home prices are expected to moderate, home sales may still sag under persistent inventory shortages, housing economists predict. compared to 2022.

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Real Estate Marketing Buyers Sellers 78

Housing Wire

MAY 19, 2022

It sees the second quarter of growth rebounding to 1.6%, despite the economy contracting 1.4% Fannie Mae said the economy is slowing faster than previously expected as markets adjust to the Federal Reserve’s tightening monetary policy and are unlikely to result in a “soft landing.”. percentage points lower than its previous forecast.

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Contracts Mortgage Construction Development 397

McKissock

APRIL 25, 2023

Uncover this month’s economic trends and insights—written from an appraiser’s standpoint—in the following economic recap for April 2023. Economic recap April 2023 While the first quarter of 2023 began with stronger economic signals than anticipated, the pace of economic activity had slowed considerably by the end of the first quarter.

Real Estate 86

Real Estate Appraisal Contracts Construction 86

Housing Wire

MARCH 16, 2023

What we see in this latest starts report is encouraging, as a record number of 5-units are still in construction and anything that gets finished is positive against inflation. As you can see, the 1974 recession destroyed the 5-unit construction production. The future growth of 5-unit construction will be at risk if a recession happens.

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Mortgage Construction Marketing Contracts 491

Housing Wire

JANUARY 13, 2023

The nation’s single-family investment-property sector and the lenders serving those borrowers face some major challenges in 2023 as rent growth is slipping, vacancy rates growing, home-value growth faltering, and a possible recession looms. . by the end of 2023,” the MBA’s December market-forecast report states.

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Marketing Investing Investors Landlords 399

Listing Spark

SEPTEMBER 25, 2023

The 5 most notable changes to the Texas Housing Market To really understand how these rising rates have changed things, we need to look at the big shifts in the housing market. Here are five of the biggest change in the Texas Real Estate market. At least, not yet.

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Real Estate Sellers New Listings Inventory 69

Housing Wire

NOVEMBER 2, 2022

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 7.06% on Wednesday from last week’s 7.16%, according to the Mortgage Bankers Association. . Roger Ferguson , former vice chairman of the board of governors of the U.S. Tables have turned for some sellers.

Mortgage 388

Mortgage Sellers Contracts Buyers 388

Will Springer Realtor

JANUARY 10, 2023

Each month, this blog will publish a fresh assessment of the King County area housing market. A patch of foul weather and persistent economic challenges chilled an already cold housing market. The Northwest MLS monthly housing report described it best: “December ends with a ‘whimper’.”. Economists across the U.S.

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Housing Market Marketing Inventory Real Estate 36

Will Springer Realtor

APRIL 11, 2023

After nearly a year, the housing sector’s contraction is coming to an end,” notes Lawrence Yun, National Association of Realtors® chief economist, speaking about the U.S. Existing-home sales, pending contracts and new-home construction pending contracts have turned the corner and climbed for the past three months.” 

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Housing Market Marketing Buyers Sellers 36

Will Springer Realtor

FEBRUARY 14, 2023

The Seattle/King County housing year kicked off slowly with some promising signals. From a macro perspective, the 2023 outlook for home buyers is the best it’s been for three years. Pending Sales – Another leading indicator, these are the homes that go under contract and typically complete the transaction within two months.

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Housing Market Marketing Inventory Buyers 36

Will Springer Realtor

DECEMBER 13, 2022

By all measures, our region (and the rest of the country for that matter) experienced one of the worst six months (June-November) any housing market has seen in at least a decade. Yes, the great housing market reset is in full swing. early in 2023 and drop to 7.1% with a 5% down payment – dropped by 16.5M

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Real Estate Buyers Construction Sellers 36