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. New listings climbed during the past week and there are now 72,000 more single-family homes on the market.

Inventory 508

Inventory New Listings Contracts Sellers 508

Housing Wire

MAY 30, 2023

The annual growth rate in March 2023 was up 0.7%. The modest increases in home prices we saw a month ago accelerated in March 2023,” Craig Lazzara, the managing director at S&P DJI, said in a statement. The average rate in March on a 30-year-fixed rate mortgage in March was 6.54%, with the rate dropping to 6.34% in April.

Mortgage 381

Mortgage Inventory Construction New Listings 381

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. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. million and a 15.8%

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 369

Housing Market Marketing Training New Listings 369

Housing Wire

MARCH 1, 2024

Sales from 2022 to 2023 were down 14%,” Mark Fischer, the CEO of the Indiana Realtors Association , said. “We We were up year over year in inventory , but we were at a 25 year low on new listings.” With existing inventory down, Schuler said new construction has taken on a larger role in his market. 23, 2024.

Housing Market 390

Housing Market Marketing Inventory Construction 390

Housing Wire

AUGUST 23, 2023

Builders are taking advantage of the housing market inventory issues , which is why new home sales are growing yearly, even with higher mortgage rates. They will build as long as new home sales are growing. months, the builders will pause construction. Today, the U.S. When supply is 4.4-6.4 When supply is over 6.5

Mortgage 360

Mortgage Inventory Construction Sellers 360

Housing Wire

JUNE 18, 2023

Mortgage rates were near 7% last week but purchase applications were still able to pull out an 8% week-to-week gain. Active housing inventory grew while new listing data fell. Mortgage rates hardly budged last week, even with the Federal Reserve ‘s announcement it was pausing rate hikes and CPI inflation reports.

Housing Market 446

Housing Market Marketing Inventory New Listings 446

Housing Wire

FEBRUARY 24, 2023

While the homebuilders weren’t surprised by the better-than-estimated new home sales report released Friday, some people were a bit shocked. 9 up until the early part of February as mortgage rates fell from 7.37% to 5.99%. To combat higher mortgage rates, builders have been cutting prices and buying down rates to move product.

Inventory 418

Inventory Construction Housing Market Mortgage 418

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

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

Listing Spark

SEPTEMBER 25, 2023

A Dip in New Mortgages With interest rates soaring to unexpected heights, many prospective homebuyers have taken a step back from applying for new mortgages. 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

SEPTEMBER 12, 2023

So, the author tried to use new construction prices from back in April to describe the whole U.S. 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. This year, while mortgage rates are high, they aren’t climbing now.

Contracts 358

Contracts Inventory Housing Market Buyers 358

Housing Wire

NOVEMBER 28, 2022

The question now is whether there is a way to avoid the job-loss recession we’re facing in 2023. New and existing home sales are falling, along with housing permits and starts, as we have too many new homes for the builders to issue new permits. “The NAR total inventory data: 1,220,000 listings.

Transportation 517

Transportation Construction Housing Market Mortgage 517

Listing Spark

JANUARY 12, 2023

In this episode of Real Estate Real Fast, Aaron Jistel discussed the market trends of 2022 and 2023. Sales were down 25% in Austin, Texas compared to 2021, and values are likely to continue decreasing in 2023. 2022 Market Trends: Decrease in sales, values, and new listings in Austin, TX; median home value up 9.9%

Real Estate 36

Real Estate Marketing Home Value Inventory 36

Will Springer Realtor

MARCH 12, 2024

This divergence of data put the mortgage market on its heels over the past several weeks and essentially reset rates after trending lower in December and January. As a result, home buyers and sellers across Seattle/King County saw a mixed bag of activity in February, according to the Northwest Multiple Listing Service (MLS).

Buyers 57

Buyers Construction Sellers Inventory 57

Will Springer Realtor

FEBRUARY 13, 2024

The number of newly listed homes more than doubled from December and increased moderately compared with the same time last year, according to data from the Northwest Multiple Listing Service (MLS). The final months of 2023 were among the quietest periods in recent memory for residential real estate amid a slow year overall.

New Listings 54

New Listings Buyers Inventory Lending 54

Will Springer Realtor

AUGUST 15, 2023

After a pandemic-induced free-for-all, where newly listed homes could be off the market in hours and prices soared into a stratosphere more recognizable by the Blue Angels, we are now “enjoying” a period of rest and re-evaluation in summer 2023. Mortgage rates are high, home prices are high, there’s no inventory.”

Sellers 60

Sellers Buyers New Listings Inventory 60

Will Springer Realtor

SEPTEMBER 12, 2023

The market is spooking many potential buyers and sellers thanks to stubbornly high mortgage interest rates. fewer new listings, the rate of sales rose 1.7% fewer new listings (1998) compared to July and 5.0% Another sign of the times: fewer mortgage applications. While there were 5.8% There are 7.4%

Finance 68

Finance Inventory Construction Buyers 68

Will Springer Realtor

JANUARY 9, 2024

The past year witnessed a financial rollercoaster, with interest rates fluctuating between 5.99% and 8.03% for conventional 30-year mortgages, according to Mortgage News Daily. Treasurys and mortgage-backed securities. At the same time, many homeowners are sitting comfortably with low mortgage rates.

Mortgage 36

Mortgage Real Estate Law Lending 36

Listing Spark

FEBRUARY 7, 2024

The 5 most notable events in Texas real estate from 2023 1) Home values flattened or declined in most of the major markets It’s no surprise that soaring home prices came down to earth in 2023. For example, in the city of Austin, home prices were essentially flat at $523,250 for the year (down only 0.43% in 2023).

Real Estate 36

Real Estate Sellers Home Value Inventory 36

Will Springer Realtor

DECEMBER 19, 2023

The region’s real estate scene in 2023 will be remembered for rising home prices and scant new listings. As the year dims, all eyes fixate on 2024’s potential: a hopeful dance fueled by dreams of lower rates and a wave of new homes for sale. annualized for 2023 but only 3.4% by the end of 2024.

Real Estate 68

Real Estate Buyers Sellers Inventory 68

Will Springer Realtor

JANUARY 10, 2023

The number of new listings for all home types – single-family, townhomes and condos combined – in King (887) fell 47% from November and declined 36% from December 2021. The bar is so low on listings and sales data that one might trip over it. What else can we expect in 2023? Economists across the U.S.

Housing Market 36

Housing Market Marketing Inventory Real Estate 36

Will Springer Realtor

NOVEMBER 14, 2023

From health-care and auto workers – even Hollywood actors – Americans have hit the picket lines in greater numbers in 2023. Sales activity across the county is at historic lows; no October has experienced fewer listings in King County – not even close – since at least 1992 when records were first archived online. Closed sales fell 0.9%

Inventory 36

Inventory Buyers Sellers New Listings 36

Will Springer Realtor

APRIL 11, 2023

Existing-home sales, pending contracts and new-home construction pending contracts have turned the corner and climbed for the past three months.”  Pending sales are one of our favorite housing market data points – along with the number of mortgage applications and new listings – to track buyer intent and market intensity.

Housing Market 36

Housing Market Marketing Buyers Sellers 36

Will Springer Realtor

MAY 13, 2024

In March 2023, we had an undersupply of 1.7M Builders are trying to catch up and, according to federal officials , there are more housing units under construction today than at any time in the last 50 years. home sales in 2023, the highest level since 2014. We are now experiencing historic shortages. shy of the need.

HOA 36

HOA Transportation Construction Buyers 36

Will Springer Realtor

FEBRUARY 14, 2023

From a macro perspective, the 2023 outlook for home buyers is the best it’s been for three years. Mortgage Applications – The number of consumers seeking a mortgage, the earliest sign of home-buying intent in the purchasing funnel, is averaging 9% above the trough of Q4, though still down about 30% from a year ago.

Housing Market 36

Housing Market Marketing Inventory Buyers 36

Will Springer Realtor

AUGUST 11, 2023

NAR’s Housing Affordability Index is a good measure of whether a household earns enough to qualify for a mortgage on a typical home. Others are specializing in the design and construction of accessory dwelling units (ADUs) as detached backyard homes (also known as “ mother-in-laws ”). >> Bellevue is rated No.

Buyers 36

Buyers Development Construction New Listings 36

Will Springer Realtor

OCTOBER 11, 2022

At what point will mortgage interest rates peak? While investors of mortgaged securities help dictate their interest rates, the Federal Reserve is behind the scenes influencing the overall lending environment. When you raise [mortgage] rates to the point they’re at today, it breaks the back of housing.”.

Housing Market 36

Housing Market Marketing Buyers Real Estate 36

Will Springer Realtor

DECEMBER 12, 2023

It was a year of gyrating mortgage rates and stubbornly high home prices. Mortgage rates rose and rose again to more than 8% but have since mercifully fallen by nearly a percentage point. Just for Fun: In December 2022, the National Association of Realtors® projected mortgage interest rates would be 5.7% 19) at 10am PT.

Real Estate 36

Real Estate Buyers Housing Market Law 36

Will Springer Realtor

AUGUST 9, 2021

The index showed a growing difficulty to afford a home even while household income and mortgage rates improved compared to last year. And, Seattle’s attempt to force building developers to incorporate more affordable homes within their new residential endeavors yielded only 21 units in 2020 out of a swell of 224 construction projects.

Construction 36

Construction Inventory Property Taxes Development 36

Will Springer Realtor

OCTOBER 8, 2021

The Federal Reserve, which has been buying mortgage-related securities for more than a year to artificially keep interest rates low, has signaled a desire to taper its bulk purchases within the next month or so. A 30-year mortgage in our area could be had for about 3.125%, up from about 2.875% a month ago. New listings are up 6.3%

Real Estate 36

Real Estate Buyers Inventory Housing Market 36

Will Springer Realtor

OCTOBER 11, 2023

Suburban residents can be almost assured of the peaceful enjoyment of their home without worrying about a neighbor constructing a rollercoaster or baseball stadium next door. >> A full 19,396 apartment units are under construction in Seattle metro, according to a Q2 report from Berkadia, a U.S. . = Zoning laws in the U.S.

Law 36

Law Development Design Government 36

Will Springer Realtor

SEPTEMBER 12, 2023

A concrete and steel cover connecting First Hill to downtown, for example, would reduce traffic noise, potentially add more parkland and encourage construction of new housing. New owners here spend an average of $232.5K The market is spooking many potential buyers and sellers thanks to stubbornly high mortgage interest rates.

Sellers 36

Sellers Development Retail Real Estate 36

Will Springer Realtor

JULY 9, 2021

Hispanic households fare better with 32% of this segment being able to afford the mid-priced new home. Among non-Hispanic white households, 44% have sufficient income to qualify for a mortgage using standard underwriting criteria. of all mortgaged properties, were in negative equity. Target opening is spring/summer 2023.

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Buyers Development Transportation Inventory 36