Housing Wire

NOVEMBER 2, 2023

Real estate agents are always looking for vetted, high-quality leads — and especially so during 2023 market conditions. Below, we evaluated several platforms to find the top eight lead generation providers agents can buy real estate leads from in 2023.

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Housing Wire

FEBRUARY 21, 2023

Existing home sales started 2023 right where they left off at the end of 2022, dropping for the 12 th consecutive month. January sales reflect purchase contracts made in November or December, and there is evidence that in many markets, the housing market has bottomed out and buyers are beginning to return to the market.” in January.

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Inventory Buyers Housing Market Contracts 370

Housing Wire

FEBRUARY 15, 2024

For iBuyer Opendoor , 2023 was all about moderation. “We We are excited about how we are set up for 2024 and beyond,” CEO Carrie Wheeler told investors and analysts listening to the firm’s Q4 2023 earnings call on Thursday evening. This strategy paid off for the firm, as its net loss of $275 million for 2023 is markedly smaller.

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Housing Wire

MARCH 28, 2023

2023 began as 2022 had ended, with U.S. Persistent challenges related to low inventory , however, will prevent home prices from falling dramatically. First, despite the fact that inventory has increased from a year ago, supply is still very low by historical standards. The annual growth rate in December was 4.4%. in January.

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Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. percentage points in early December, when historically that spread has ranged between 1 to 2 percentage points.

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Housing Wire

JANUARY 26, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. The trade organization projects a 13% increase in existing home sales between 2023 and 2024 for an annualized pace of 4.62

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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.

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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. 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.

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Housing Wire

AUGUST 3, 2023

Opendoor continued to feel the market’s headwinds in the second quarter of 2023, which led to fewer homes sold and lower revenues in the period. The firm’s revenues came in at $2 billion in the second quarter of 2023, down 37% compared to the previous quarter and 53% related to 2Q 2022. in Q2 2023.

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Housing Wire

OCTOBER 31, 2023

home prices continued to rise in August 2023,” Craig Lazzara, managing director at S&P DJI , said in a statement. in August, which marks the seventh consecutive monthly gain since prices bottomed in January 2023. The August level was the highest recorded since the index began in 1987. Our National Composite rose by 0.4%

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Inman

FEBRUARY 5, 2024

percent decline in net new listings and a 2 percent decrease in contract signings, driven by mortgage rate fluctuations, according to HouseCanary. Despite a rise in total inventory compared to 2022 and 2023, the market is still behind historical inventory averages as sellers avoid entering a higher rate environment.

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Housing Wire

NOVEMBER 21, 2023

Homes typically go under contract a month or two before the closing, which means the October data largely reflects purchase decisions made in August and September. On the bright side, housing inventory rose 1.8% lower than October 2022 when inventory was at 1.22 Meanwhile, unsold inventory sat at a 3.6-month

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Housing Wire

NOVEMBER 28, 2023

home prices continued their rally in September 2023,” Craig Lazzara, managing director at S&P DJI , said in a statement.“Our in September, marking eight consecutive monthly gains since prices bottomed in January 2023. Low levels of existing home inventory contributed to keeping home prices elevated. by the end of September.

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Housing Wire

DECEMBER 23, 2022

New home sales data last month was much stronger than had been anticipated; the market had expected a contraction of 4.7% Since July, about 10,000 contracts have been canceled each month, according to data from John Burns Consulting. Census Bureau and the Department of Housing and Urban Development (HUD) on Friday. in November.

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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. Will we get more inventory?

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Appraisal Buzz

MARCH 28, 2024

compared with February 2023, according to the National Association of Realtors (NAR). Month-over-month, contract signings climbed in the Midwest and South but sank in the Northeast and West. Ongoing job gains are clearly increasing demand along with more inventory.” Pending home sales increased 1.6% in the Midwest and 1.1%

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Housing Wire

SEPTEMBER 6, 2023

“Both purchase and refinance applications fell, with the purchase index hitting a 28-year low, as prospective buyers remain on the sidelines due to low housing inventory and elevated mortgage rates,” said Joel Kan, MBA’s vice president and deputy chief economist. Department of Veteran Affairs loans’ share decreased to 11.3% Lastly, the U.S.

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Housing Wire

DECEMBER 23, 2022

After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. But relatively low inventory will be the primary driver of subdued transactions.

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Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. 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. in 2023, to 720,000. from 2022 to 2023, to 1.47 this year and then decline to 6.0% million in 2024.

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Construction Inventory Realtors Housing Market 370

Housing Wire

APRIL 17, 2023

In early 2023, however, as inventory in Austin has become more and more constrained, buyers have become accustomed to the higher mortgage rates and demand has ticked up. “It We are still seeing properties going under contract quickly, so long as they are priced properly,” he said. And the data supports Martirena’s assertion.

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Housing Wire

APRIL 25, 2023

Home price trends moderated in February 2023,” Craig Lazzara, the managing director at S&P DJI, said in a statement. However, despite the recent uptick, the continued low inventory conditions are expected to keep home prices elevated nationally. The national index came in at a reading of 293.17 in February. to a reading of 297.68.

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Inventory Contracts Buyers Sellers 397

Housing Wire

SEPTEMBER 11, 2023

HousingWire: According to ATTOM Data Solutions‘ latest foreclosure market report, bank repossessions climbed 9% in the first half of 2023 compared to the first half of 2022. The good news for homeowners is that home values in most areas remain stable, and inventory levels for homebuyers are still low.

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Housing Wire

OCTOBER 5, 2023

The home equity products involved include home equity lines of credit (HELOCs), closed-end second mortgages (CESs) and shared-equity contracts. That offering, Unlock HEA Trust 2023-1, is slated to close this week. The 5% overall increase in home prices since February [2023] means that the average U.S.

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Housing Wire

SEPTEMBER 29, 2022

An index of 100 is equal to the level of contract activity in 2001. The direction of mortgage rates – upward or downward – is the prime mover for home buying, and decade-high rates have deeply cut into contract signings,” Lawrence Yun, NAR’s chief economist, said in a statement. “If Presented by: Evocalize. All four major U.S.

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Housing Wire

MARCH 27, 2023

In addition, just 16% of the homes in Austin went under contract within two weeks of hitting the market. That’s a significant decline from February 2022, when 38% of homes in Austin were under contract within two weeks of being listed. according to Redfin’s data. Pending sales also dropped by 40%.

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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. Higher rates create more inventory.

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Housing Wire

AUGUST 31, 2023

Despite continued high rates, low inventory is keeping house prices steady,” said Sam Khater, Freddie Mac’s chief economist. Incentivized by return-to-office demands, some buyers have adjusted to the higher mortgage rate environment and are moving forward with their home search, according to Realtor.com’s 2023 Hottest Zip Codes report.

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Housing Wire

SEPTEMBER 22, 2022

From NAR Research : “Total existing-home sales notched a minor contraction of 0.4% Total Inventory data fell in this report from 1.31 It doesn’t even look like we will breach the lower level of my inventory wish list of 1.52 I am a big fan of inventory to 2019 levels. Unsold inventory sits at a 3.2-month

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Inventory Housing Market New Listings Mortgage 458

Housing Wire

APRIL 26, 2023

The MBA data shows the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) at 6.55% last week, compared to 6.43% the previous week. Altos Research data shows that inventory rose from 405,468 to 414,010 from April 14 to 21. Meanwhile, the peak for 2023 so far is 472,680.

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Housing Wire

OCTOBER 24, 2022

It’s now October, we’ve had the biggest spike in mortgage rates we’ve seen in decades, and all the signs of a slowdown are here: Inventory is rising. The big question is: how long will the market contraction last and when should we expect things to heat back up? Inventory and price reductions have resumed climbing now.

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Housing Wire

APRIL 15, 2024

Higher mortgage rates have forced available inventory to climb all year. Housing inventory There are now 526,000 single-family homes active unsold on the market. jump in unsold inventory in a week is very notable. As mortgage rates rise, inventory rises. Or, to put it another way: demand slows, inventory grows.

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Housing Wire

FEBRUARY 28, 2022

regions, only the West registered an increase in month-over-month contract activity. Unlike the surge in make-up demand we saw at the end of 2020, this recent outperforming data should moderate just due to traditional demand limits with the housing market at record low inventory levels. Of the four major U.S. This is critical.

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Housing Wire

JUNE 5, 2023

As with the rest of the country, the Chicago-area market is dealing with issues stemming from a lack of inventory , and until rates decline, it’s the first-time buyers that Lotsoff and Brok are primarily targeting for volume. billion in 2023 and expects a target production of $4 billion in 2024.

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Hank Miller Team

JANUARY 23, 2023

Best advice as to what home buyers should expect in the spring of 2023.understand While rates were certainly favorable, the lack of inventory resulted in a punishing home buying experience. Listing inventory drops during the pandemic with the seasonal bump in '21. But note, there is NO flood of inventory here or expected.

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Housing Wire

JANUARY 3, 2024

The survey, which was conducted between the end of November and the end of December 2023, garnered 136 respondents, with 28 from the Northeast, 26 from the Southeast, 33 from the Midwest, 33 from the Southwest and 16 from the Northwest. I was already using buyer broker contracts, but now use them 100% of the time.

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Housing Wire

MARCH 5, 2024

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. Clark’s team of 73 loan originators who cover the East Coast funded $81 million in loans in January 2024, up 35% from January 2023.

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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.

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