Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. It’s positive news for an industry that has recently dealt with a lackluster amount of inventory. Barnes said.

Renovations 373

Renovations Realtors Construction Mortgage 373

Housing Wire

NOVEMBER 10, 2022

The number of renters who can even afford to buy a home at the national median list price of $425,000 compared to a year ago is down 15%, according to the National Association of Realtors. . Construction lending has sort of slowed to a crawl,” Peter DiCorpo, the co-founder and COO of Black Farm Group , said.

Construction 402

Construction Supply Chain Buyers Development 402

Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). In 2023, new-home sales are up 5% year to date, Yun said.

Real Estate 449

Real Estate Inventory Sellers Realtors 449

Housing Wire

OCTOBER 26, 2023

in September despite significant affordability hurdles weighing on the market, according to data released Thursday by the National Association of Realtors (NAR). Furthermore, inventory remains tight, which hinders sales but keeps home prices elevated.” in 2023, reaching an annual rate of 670,000. in September.

Inventory 351

Inventory Contracts Housing Market Realtors 351

Housing Wire

APRIL 18, 2024

million in February, according to a report released Thursday by the National Association of Realtors (NAR). The inventory of existing homes has been steadily increasing, despite elevated mortgage rates. At the end of March, total housing inventory sat at 1.11 Meanwhile, unsold inventory sat at a 3.2-month

Inventory 336

Inventory Real Estate Agent Sellers Buyers 336

Housing Wire

JANUARY 26, 2024

month over month in December, according to the newest data from the National Association of Realtors (NAR). The trade organization projects a 13% increase in existing home sales between 2023 and 2024 for an annualized pace of 4.62 Additionally, mortgage rates fell toward the end of 2023, raising hopes for the 2024 housing market.

Contracts 444

Contracts Housing Market Construction Inventory 444

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. Headwinds like mortgage rates , low inventory and rising rents are still strong, but easing,” Zillow Senior Economist Orphe Divounguy, said in a statement.

Housing Market 370

Housing Market Marketing Training New Listings 370

Housing Wire

MARCH 6, 2024

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday.

Mortgage 342

Mortgage Real Estate Inventory Construction 342

Housing Wire

APRIL 27, 2023

month-over-month decrease, according to data released Thursday by the National Association of Realtors (NAR). The lack of housing inventory is a major constraint to rising sales,” Lawrence Yun , NAR’s chief economist, said in a statement. in 2023 and 5.6% year over year in 2023 to 1.44 million for all of 2023.

Inventory 383

Inventory Realtors Contracts Construction 383

Appraisal Buzz

APRIL 25, 2024

compared with March 2023, according to the National Association of Realtors (NAR). million 2023) and another 13.2% million (from 1.413 million in 2023) and 4.9% in 2024 to a record of $396,800 (from $389,800 in 2023) and another 1.8% in 2024 to a record of $396,800 (from $389,800 in 2023) and another 1.8%

Inventory 195

Inventory Construction Realtors Appraisal 195

Housing Wire

DECEMBER 13, 2023

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year. Home starts forecasts, meanwhile, don’t offer much certainty about the pace of construction next year. million to 5.07 million to 5.07

Inventory 457

Inventory Construction Mortgage Buyers 457

Housing Wire

APRIL 14, 2023

This article is part of our 2023 Housing Market Forecast series. After the series wraps, join us on May 30th for the HW+ Virtual 2023 Forecast Event. The monthly Realtors Confidence Index is an essential measure of what real estate professionals are seeing in their local markets and how the market is evolving on a monthly basis.

Realtors 404

Realtors Buyers Inventory Sellers 404

Housing Wire

JULY 25, 2023

Home prices showed resilience in May as buyers took advantage of the relatively lower rates during that month, keeping the pressure on available inventory. home prices continued in May 2023,” Craig Lazzara, managing director at S&P DJI. “ million – the slowest since January, according to the National Association of Realtors (NAR).

Inventory 269

Inventory Construction Buyers Mortgage 269

Housing Wire

JULY 27, 2023

After dropping slightly month over month in May , pending home sales ticked back up in June, rising 0.3%, according to data released Thursday by the National Association of Realtors (NAR). in 2023 before increasing to 4.1% in 2023, settling at 4.38 Home prices will be influenced by how much inventory is brought to market.

Construction 336

Construction Inventory Realtors Housing Market 336

Housing Wire

SEPTEMBER 22, 2022

Economists at Fannie Mae say the Federal Reserve ‘s fiscal policy is having its desired effect on the housing market – home price growth began to slow in the summer, and the GSE says the housing slowdown will continue through 2023. trillion in 2023, according to Fannie Mae. trillion in 2022. month supply, up from 1.6

Housing Market 399

Housing Market Supply Chain Marketing Inventory 399

Housing Wire

JANUARY 6, 2023

Nearly every loan originator is fixated on going after the purchase mortgage market in 2023 following a brutal 2022 — a year in which even some of the top producers saw their origination volume drop to 20%. Read on for more about Gallo’s business strategies for 2023, his general take on LO compensation and prospects for the housing market.

Business 362

Business Loan Officers Clients Inventory 362

Housing Wire

MARCH 8, 2024

In February, employment continued to trend up in construction, adding 23,000 jobs month over month. Home sales recorded the lowest activity in 2023 in nearly 30 years. Average hourly earnings for private-sector employees grew by 0.1% month over month to $34.57 and were up 4.3% from a year ago. million at a rate of 5.4%, down from 10.4

Transportation 409

Transportation Retail Housing Market Construction 409

Housing Wire

JULY 20, 2023

With elevated mortgage rates sidelining both home buyers and sellers, existing home sales fell in June, according to the latest report from the National Association of Realtors (NAR). The pent-up demand will surely be realized soon, especially if mortgage rates and inventory move favorably.” Meanwhile, unsold inventory sits at a 3.1-month

Inventory 273

Inventory Buyers Construction Realtors 273

Housing Wire

FEBRUARY 22, 2024

Balancing supply and demand is a delicate dance between new construction and existing properties. months as of December 2023), and implementing measures to moderate home price appreciation, fostering increased affordability.

Business 334

Business Marketing Real Estate Legal 334

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. 4-7, in Las Vegas. “There is too much distraction in the market; there are some negative folks out there.

Mortgage 463

Mortgage Real Estate Agent Renovations Finance 463

Housing Wire

SEPTEMBER 22, 2022

Goldman Sachs predicts a 75 bps hike at the November meeting followed by a 50 bps raise in December and a 25 bps increase in January 2023. We do not see new construction returning in a meaningful way any time soon. million units last month from July, according to the National Association of Realtors (NAR). year-over-year.

Mortgage 398

Mortgage Loan Officers Buyers Inventory 398

Housing Wire

JANUARY 19, 2024

It happened in 2008 and then didn’t happen again until 2023. Remember, with median sales prices and inventory, it’s very seasonal. However, remember, the dive in inventory is normal at this time of the year. Below are charts with today’s report and the trend. I call it an alligator chart opening its mouth, see below.

Housing Market 402

Housing Market Inventory Contracts Marketing 402

Housing Wire

AUGUST 3, 2023

Rocket Companies , the parent of Rocket Mortgage , returned to profitability in the second quarter of 2023 driven by an increase in the purchase mortgage market share and expense cuts in business lines that aren’t profitable. billion in origination volume in Q2, up about 31% from $17 billion in Q1 2023. Rocket generated $22.3

Clients 297

Clients Business Inventory Mortgage 297

Housing Wire

MAY 3, 2023

Existing home sales in particular have been paltry in 2023, largely due to low levels of inventory. Single-family inventory for the week ending April 28 jumped to 422,270, up from 414,010 the week prior, offering real estate agents and mortgage loan officers hope that the ice is melting.

Real Estate Agent 368

Real Estate Agent Inventory Loan Officers Mortgage 368

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. compared to 2022.

Real Estate 78

Real Estate Marketing Buyers Sellers 78

McKissock

MAY 30, 2023

Uncover this month’s economic trends and insights—written from an appraiser’s standpoint—in the following economic recap for May 2023. Economic recap May 2023 The current economic landscape is riddled with several critical issues that demand attention. Despite this increase, inventory is low, with a 2.9-month Despite a 22.3%

Real Estate 73

Real Estate Construction Appraisal Inventory 73

Housing Wire

APRIL 28, 2022

For the fifth consecutive month, pending home sales declined in March from February, down 1.2%, signaling a potential return to “much calmer” conditions, according to the National Association of Realtors. by 2023, Yun said. “As Yun forecasts the 30-year fixed mortgage rate will reach 5.3% The average mortgage rate should jump to 5.4%

Housing Market 326

Housing Market Marketing Contracts Mortgage 326

Housing Wire

SEPTEMBER 22, 2022

I go into real estate offices and Realtors have zero listings for the week,” said the LO, who requested anonymity to protect the business of her partners. “I This month, she is lucky to have $2 million in her pipeline thanks to closing deals on a construction loan, a condo and a vacant lot. And it’s going to get worse.

Mortgage 373

Mortgage Loan Officers Inventory Retail 373

Listing Spark

SEPTEMBER 25, 2023

Increasing Days on Market and Months Supply of Inventory Days on market and the months’ supply of inventory have witnessed a steady climb, indicating that homes on the market are taking longer to sell. The Rise of New Construction Homes New construction is stepping up to fill the void in the market.

Real Estate 69

Real Estate Sellers New Listings Inventory 69

Housing Wire

JULY 12, 2023

Peak rent inflation was between May 2022 and February 2023, but has declined in subsequent months and is expected to continue to do so. Therefore, decelerating consumer prices could steadily lift home sales and increase home production in a few months,” said Lawrence Yun, chief economist for the National Association of Realtors.

Insurance 268

Insurance Construction Tools Realtors 268

Empire Appraisal Group

DECEMBER 14, 2023

home sales during the third quarter (3Q) of 2023, according to a report from Redfin – about the same as one year earlier (35.9%) but up from 27.6% 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 2023, down from 40.0%

Sellers 78

Sellers Buyers Agents Contracts 78

Housing Wire

NOVEMBER 2, 2022

“Even with the Federal Reserve raising its short-term fed funds rate by another large amount, longer-term interest rates look to move only slightly,” Lawrence Yun, chief economist at National Association of Realtors , said. Roger Ferguson , former vice chairman of the board of governors of the U.S. Tables have turned for some sellers.

Mortgage 386

Mortgage Sellers Contracts Buyers 386

Empire Appraisal Group

JANUARY 26, 2023

“It’s a valid question,” Lawrence Yun, chief economist for the National Association of REALTORS®, said Tuesday at NAR’s Real Estate Forecast Summit. Underbuilding and inventory shortages. New-home construction prior to the 2008 crash was amounting to 7.65 He predicted foreclosures to remain at historical lows in 2023.

Real Estate 78

Real Estate Realtors Inventory Housing Market 78

Empire Appraisal Group

MARCH 9, 2023

“It’s a valid question,” Lawrence Yun, chief economist for the National Association of REALTORS®, said Tuesday at NAR’s Real Estate Forecast Summit. Underbuilding and inventory shortages. New-home construction prior to the 2008 crash was amounting to 7.65 He predicted foreclosures to remain at historical lows in 2023.

Real Estate 78

Real Estate Inventory Housing Market Construction 78

Will Springer Realtor

MARCH 12, 2024

This return of buyers follows a sluggish late 2023. I stand by my late 2023 prediction that single-family median prices will surpass the $1M mark this year for the first time.) Months of inventory continue to be a burden on all buyers. Inventory is at 1.3 Because new home construction hasn’t kept up. There is 1.9

Buyers 57

Buyers Construction Sellers Inventory 57

Will Springer Realtor

DECEMBER 13, 2022

That real estate party of unquenchable buyer demand against a backdrop of low inventory is over. early in 2023 and drop to 7.1% The war in Ukraine and continued geopolitical uncertainty in China, Taiwan and who knows where else in 2023 add significant headwinds to the global economy. It believes rates will rise to about 7.4%

Real Estate 36

Real Estate Buyers Construction Sellers 36

DataMaster

JANUARY 15, 2021

And according to the National Association of Realtors , the median existing-home price for all housing types in November 2020 was $310,800. Not only did the historically low interest rates contribute to the rise in home prices, but new home construction didn’t keep up. New Home Construction. This is a 14.6% million units.

Appraisal 147

Appraisal Construction Business Real Estate 147