Housing Wire

MAY 28, 2024

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. But, basically, inventory is still climbing everywhere as mortgage rates are still north of 7%. immediate sales).

Inventory 508

Inventory New Listings Contracts Sellers 508

Housing Wire

OCTOBER 18, 2022

High mortgage rates approaching 7% have significantly weakened demand , particularly for first-time and first-generation prospective home buyers,” Jerry Konter, the NAHB chairman, said in a statement. The post Homebuilders say housing starts will fall even further in 2023 appeared first on HousingWire.

Housing Market 388

Housing Market Buyers Contracts Construction 388

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. Chikonde worked at Optimal Blue for five years before joining Go Mortgage, according to her LinkedIn profile.)

Mortgage 336

Mortgage Marketing Retail Construction 336

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%

Inventory 349

Inventory Contracts Housing Market Realtors 349

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?

Supply Chain 351

Supply Chain Construction Inventory Finance 351

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. percent)* above the January 2023 estimate of 649,000. months , the builders will pause construction. percent (±19.9

Construction 521

Construction Business Contracts Marketing 521

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. trillion from the previous year.

Mortgage 341

Mortgage Housing Market Buyers Contracts 341

Housing Wire

FEBRUARY 1, 2023

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. According to the MBA , mortgage applications decreased 9% across the board for the week ending January 27 compared to the week prior. The MBA data shows refinancings were 31.9%

Mortgage 303

Mortgage Marketing Loan Officers Contracts 303

Housing Wire

MARCH 16, 2023

How is today’s housing starts data , which beat expectations, good for mortgage rates ? 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. Like most recessions, when demand falls, so does production.

Mortgage 488

Mortgage Construction Marketing Contracts 488

Housing Wire

MARCH 21, 2024

Kingsborough has more than 20 years of experience in mortgage lending and will be responsible for driving the company’s expansion plans in the western U.S. I’m here to build on our presence in the West by fostering an environment where mortgage loan originators and branch managers can truly thrive.”

Lending 317

Lending Retail Contracts Construction 317

Housing Wire

APRIL 27, 2023

An index of 100 is equal to the level of contract activity in 2001. Looking ahead to the second half of 2023 and beyond, NAR said it expects that the economy will continue adding jobs , but at a slower pace. In addition, NAR forecasts that mortgage rates will drop to 6.0% in 2023 and 5.6% year over year in 2023 to 1.44

Inventory 382

Inventory Realtors Contracts Construction 382

Housing Wire

MARCH 27, 2023

The ongoing banking instability may affect the availability of jumbo mortgages and residential construction loans due to the high concentration of those originations stemming from small and mid-sized banks, Fannie Mae’s Economic and Strategic Research (ESR) Group said. contraction.

Construction 329

Construction Lending Finance Mortgage 329

Housing Wire

FEBRUARY 27, 2023

“Buyers responded to better affordability from falling mortgage rates in December and January,” Lawrence Yun, NAR’s chief economist, said in a statement. An index of 100 is equal to the level of contract activity in 2001. in 2023 and 5.4% year over year in 2023 to a total of 4.47 in 2023 and 5.4% million units.

Housing Market 388

Housing Market Realtors Contracts Buyers 388

Housing Wire

NOVEMBER 2, 2022

And with Fed rates expected to rise even further, industry experts and economists don’t expect mortgage rates to stabilize for at least another year. Mortgage rates , which are currently near a 22-year high, declined slightly from last week ahead of the Fed’s sixth rate hike announcement. Tables have turned for some sellers.

Mortgage 385

Mortgage Sellers Contracts Buyers 385

Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The trade association forecasts the 30-year fixed mortgage rate to close at 6.4% in 2023 before increasing to 4.1% With consumer price inflation calming close to the Federal Reserve’s desired conditions, mortgage rates look to have topped out,” Yun added.

Construction 335

Construction Inventory Realtors Housing Market 335

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.

Construction 259

Construction Retail Mortgage Contracts 259

Housing Wire

DECEMBER 1, 2022

“Higher interest rates further dented home sales, which declined at a moderate pace overall but fell steeply in some Districts,” the report states, noting that “residential construction slid further at a modest pace” and “home prices grew less rapidly or declined outright amid weak demand.”. million in 2023 from 5.67 trillion from $2.34

Housing Market 308

Housing Market Marketing Construction Inventory 308

Housing Wire

OCTOBER 26, 2022

This doesn’t mean sales can’t fall further from here, especially with rising mortgage rates. We saw some stabilization in the data when mortgage rates fell from 6.25% to 5%. However, now we are dealing with a 7% mortgage rate. The builders will pull back on construction when the supply is 6.5 When supply is 4.4

Construction 433

Construction Inventory Contracts Buyers 433

Housing Wire

DECEMBER 19, 2022

Mortgage rates are down from above 7% in recent weeks to about 6.3% As builders look to improve their sales, 62% reported using incentives, including providing mortgage rate buydowns, paying points for buyers and offering price reductions. However, builders can only slash prices so much.

Contracts 365

Contracts Construction Buyers Housing Market 365

Housing Wire

SEPTEMBER 12, 2023

So, the author tried to use new construction prices from back in April to describe the whole U.S. New contracts dipped as affordability is out of reach for so many. Let’s look at the signals for the week of September 11, 2023. Last year inventory was about to start climbing again with that autumn spike in mortgage rates.

Contracts 358

Contracts Inventory Housing Market Buyers 358

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 million units.

Inventory 366

Inventory Mortgage Housing Market Contracts 366

Housing Wire

MAY 19, 2022

It sees the second quarter of growth rebounding to 1.6%, despite the economy contracting 1.4% Fannie expects a slowdown in homesales for the second and third quarters of 2022, followed by a softening in construction activity and a large deceleration in home price growth. percentage points lower than its previous forecast.

Contracts 393

Contracts Mortgage Construction Development 393

Housing Wire

JULY 6, 2023

Horton also announced the acquisition of 156 lots and control of around 400 lots through option contracts from Truland affiliates, as well as 201 lots and control of approximately 260 lots through option contracts from third parties. In addition to the Truland acquisition, D.R. These strategic acquisitions will allow D.R.

Contracts 363

Contracts Development Insurance Construction 363

Housing Wire

JANUARY 4, 2023

This article is part of our 2022 – 2023 Housing Market Forecast series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. As a result, we expect the Q4 2022 GDP print to be a temporary positive blip, and for 2023 headline growth to be negative 0.5 million and 4.57

Housing Market 493

Housing Market Marketing Mortgage Contracts 493

Housing Wire

JUNE 7, 2022

All six of the index’s components — which ask consumers to weigh in on whether it’s a good time to buy, sell, and in what direction mortgage rates will move — dropped 11.8 About 70% of survey respondents expect mortgage rates will continue climbing during the next 12 months. . points from the same time last year.

Mortgage 361

Mortgage Housing Market Contracts Construction 361

Housing Wire

MAY 23, 2023

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. months and above, the builders will pull back on construction. The Inventory for homes under construction is 263,000 = 4.6 When supply is 4.4-6.4

Inventory 516

Inventory Housing Market Construction Marketing 516

Appraisal Today

SEPTEMBER 15, 2023

NAR Appraiser Survey July, 2023 In July 2023, NAR Research conducted a survey of all 9,800 appraiser members and 50,000 randomly-selected residential-focused non-appraiser members. The survey results had a comparison of 2022 and 2023, which was very interesting. Updates to AIR and these FAQs were published in August 2023.

Appraisal 82

Appraisal Real Estate Agent Contracts Real Estate 82

Housing Wire

JANUARY 19, 2024

It happened in 2008 and then didn’t happen again until 2023. We don’t have any data that shows sales are crashing from this low level: this is key when looking at the future because it does give us a place to grow sales as long as mortgage rates fall. From NAR : Existing-home sales waned 1.0% All four U.S.

Housing Market 400

Housing Market Inventory Contracts Marketing 400

Housing Wire

JULY 25, 2022

The Fannie Mae report projects “strong deceleration in home-price growth going forward” due to higher mortgage rates and the overall slowing economy affecting purchase demand. Homes listed for sale are increasingly seeing asking-price reductions, and both construction and home sales — both existing and new — are slowing.”.

Housing Market 393

Housing Market Marketing Supply Chain Real Estate 393

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. Housing markets continued to weaken, with sales and construction declining across [all 12 Federal Reserve] districts,” according to the Federal Reserve Beige Book released on Wednesday.

Inventory 371

Inventory Housing Market Marketing Construction 371

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.”. He also expects higher mortgage rates to remain a key factor affecting home sales. The average mortgage rate should jump to 5.4%

Housing Market 326

Housing Market Marketing Contracts Mortgage 326

Housing Wire

JANUARY 9, 2023

With many homebuilders feeling the impact of rising mortgage rates on new-home sales, delivering units for rent is expected to continue to become a larger segment of the overall single-family housing market.”. This will be particularly true as mortgage interest rates remain elevated and increase. Riding a cresting wave.

Housing Market 544

Housing Market Marketing Construction Development 544

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.

Real Estate 78

Real Estate Marketing Buyers Sellers 78

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

JANUARY 23, 2024

With the coming together of interest rate drops, the persistent, continued low inventory levels and 2023 being recorded as the slowest year for U.S. Well into January, we are already seeing properties go under contract in the first weekend with multiple offers. The second avenue for expanding inventory is new construction.

Real Estate Agent 398

Real Estate Agent Real Estate Buyers Agents 398

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. . Mortgage production in 2022 nationally was down about 50% from $4.44 They include a $405.2

Marketing 396

Marketing Investing Investors Landlords 396

Housing Wire

MARCH 20, 2024

In recent years, Zillow also launched segments for rental listings and mortgage origination; it briefly operated an instant buying segment, now shuttered. However, the company still makes the vast majority of its revenue – 75% in 2023 – from the services it provides brokers and agents in the for-sale residential market.

Investors 380

Investors Agents Real Estate Buyers 380