Housing Wire

NOVEMBER 11, 2022

While elevated mortgage rates, sluggish home sales and high inflation have taken a significant toll on the housing industry, it’s unlikely that these issues will cause home prices to drop next year, at least according to National Association of Realtors (NAR) Chief Economist Lawrence Yun.

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Inventory Housing Market Realtors Mortgage 488

Housing Wire

DECEMBER 16, 2022

After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. The last year has been a completely split housing market — one that started with the lowest inventory NAR has recorded dating back to 1999 and one with low mortgage rates. At the height of the spring market, the typical home had 5.5

Buyers 463

Buyers Realtors Inventory Sellers 463

Housing Wire

JULY 6, 2023

The nation’s housing industry has entered a new normal in which the dynamics of the market appear perplexing — marked by high mortgage rates and high home prices, along with shrinking mortgage originations. Fannie Mae recently projected originations for 2023 at $1.59 trillion, a revision downward from its January estimate of $1.65

Inventory 447

Inventory Renovations Real Estate Government 447

Housing Wire

SEPTEMBER 26, 2023

Available inventory of homes for sale is on the rise in late September, which is very unusual for this time of year. In fact, inventory is growing faster than this time a year ago. What’s happening with inventory? There are now 528,000 single-family homes on the market. That’s an increase of 1.8% from last week.

Inventory 481

Inventory Contracts New Listings Mortgage 481

Housing Wire

MAY 29, 2024

The National Association of Realtors (NAR) reported that it had 1,509,195 members at the end of April, a decline of 2.96% from the 1,554,604 members it had at the end of 2023 but higher than its numbers in February and March. You can find more information in our recent update in Realtor Magazine.“ How many is unclear.

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Realtors Agents Inventory Modernization 301

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. Against that backdrop, Zillow identified prime markets for first-time homebuyers , and half of them were nestled in the Midwest.

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Housing Market Marketing Training New Listings 374

Housing Wire

JANUARY 12, 2022

Early in 2021, when I was talking about how people should worry about home prices overheating, I had a glimmer of hope that maybe toward the end of 2021 we would be spared another seasonal collapse of inventory. Inventory always falls in the fall and winter, but I hoped it wouldn’t be a repeat of 2020.

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Inventory Mortgage Housing Market Marketing 535

Housing Wire

JANUARY 31, 2023

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. It’s also what keeps Andrew Marquis, regional vice president at CrossCountry Mortgage and Scotsman Guide ’s seventh top LO, up at night, especially as he sees more buyers entering the market.

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Inventory Marketing Business Buyers 317

Housing Wire

SEPTEMBER 14, 2023

Over one-third (34%) of prospective buyers have yet to purchase a home because there are not enough homes for sale in their budget, according to a new survey from the National Association of Realtors. The Realtor survey was sent out in late July to 55,751 randomly-selected residential Realtors.

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Buyers Inventory Realtors Finance 393

Housing Wire

MAY 15, 2024

housing market saw dramatic changes in affordability as mortgage rates skyrocketed 500 basis points. After an initial rush to get to market in Q2 2022, new listings volume fell precipitously. million by October of 2023 (when rates crossed over 8%). million fewer home sales between March 2022 and December 2023.

Mortgage 366

Mortgage New Listings Inventory Sellers 366

Housing Wire

MARCH 21, 2024

Existing home sales increased in February, a good sign as the market heads into the spring homebuying season. million, up from 4 million in January, according to a report released Thursday by the National Association of Realtors (NAR). million units in February 2023. Existing home sales rose 9.5% year over year to $384,500.

Inventory 402

Inventory Realtors Marketing Mortgage 402

Housing Wire

MARCH 29, 2024

It is nearly April, which means temperatures in the Austin metropolitan area are heating up — and so is the housing market. The market is still strong,” said Wendy Cash, a broker at Austin area-based Century 21 Hellmann Stribling. In November 2023, this figure actually surpassed its pre-pandemic level at 8,527 listings.

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Housing Market Agents Marketing Inventory 353

Housing Wire

DECEMBER 20, 2023

I would argue yes, and the housing market today looks a lot like what we saw in late 2022. From the National Association of Realtors (NAR): Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – elevated 0.8% So let’s take a look at the playbook.

Housing Market 428

Housing Market Marketing Inventory Realtors 428

Housing Wire

OCTOBER 19, 2023

The savagely unhealthy housing market continues to unfold as we approach Halloween. Sales are still falling, home prices keep rising, and inventory is still negative year over year. Too many people chasing too few goods — and days on the market are still under 30 days. Unsold inventory sits at a 3.4-month

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Housing Market Marketing Inventory Buyers 433

Housing Wire

FEBRUARY 22, 2024

The housing market in the state of Florida saw higher median home prices, more real estate listings and a higher number of active listings during the month of January, according to data released Thursday by Florida Realtors , a state-based trade organization for real estate professionals. from January 2023.

New Listings 394

New Listings Realtors Real Estate Inventory 394

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. million, according to a report from the National Association of Realtors (NAR) released Tuesday. Inventory remains low, but buyers are beginning to have better negotiating power,” Yun added. in January.

Inventory 343

Inventory Buyers Housing Market Contracts 343

Appraisal Buzz

MARCH 21, 2024

compared with February 2023, according to the National Association of Realtors (NAR). It was the largest monthly increase since February 2023. Helping to boost existing-home sales in February was that inventory increased 1.07 compared with February 2023. million in February, an increase of 9.5% That’s about a 2.9-month

Inventory 394

Inventory Realtors Investors Buyers 394

Housing Wire

NOVEMBER 13, 2023

Buying a house was obtainable only for the haves in 2023 as home prices and mortgage rates soared. Homebuyers’ median household income increased by $19,000 this year from 2022, reaching $107,000, according to the National Association of Realtors ’ 2023 Profile of Homebuyers and Sellers. Meanwhile, in September, one-third of U.S.

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Real Estate Agent Real Estate Agents Sellers 350

Housing Wire

MAY 18, 2023

Just when I thought days on market were returning to normal, that number for existing homes fell back down to 22 days. If the days on the market are at a teenager level or even lower, it’s never a good sign for the housing market. If we had a massive credit boom-to-bust, inventory would have skyrocketed in 2022.

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Housing Market Marketing Inventory Mortgage 526

Housing Wire

MAY 7, 2024

The official magazine for the National Association of Realtors (NAR) recently touched on the topic of reverse mortgages, mentioning products such as the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) and addressing topics like the desires of baby boomers to age in place in their homes.

Mortgage 420

Mortgage Real Estate Agent Inventory Housing Market 420

Housing Wire

MARCH 21, 2024

Will this mark the high point for sales this year like it did in 2023? When mortgage rates headed lower at the end of 2022 into 2023, we had 12 weeks of positive weekly purchase application data. million in February 2023). million in February 2023). That filtered itself into one massive report in March.

Inventory 450

Inventory Housing Market Mortgage Marketing 450

Housing Wire

DECEMBER 13, 2022

The National Association of Realtors predicts there will be 4.78 million existing home sales in 2023, down 6.8% In addition to a further drop in existing home sales, Yun said he expects the annual median home price to remain relatively flat year over year in 2023, rising just 0.3% from the 5.13 to $384,500.

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Realtors Mortgage Housing Market Real Estate 400

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 450

Real Estate Inventory Sellers Realtors 450

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.

Renovations 376

Renovations Realtors Construction Mortgage 376

Housing Wire

NOVEMBER 8, 2023

The slide, presented in March 2021, forecasted that Offerpad would sell nearly 15,000 homes in 2023. “The largest, undisrupted market in the U.S.,” “The largest, undisrupted market in the U.S.,” The Opendoor presentation projected sales of more than 37,500 homes in 2023.

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Marketing Inventory Renovations Investors 395

Housing Wire

DECEMBER 20, 2023

While sales are still tracking below last year’s levels, the gap between 2022 and 2023 has narrowed considerably. million, according to the National Association of Realtors. Housing inventory fell 1.7% Meanwhile, unsold inventory sat at a 3.5-month million home sales nationally by the end of 2023. million. “The

Inventory 365

Inventory Housing Market Realtors Buyers 365

Housing Wire

APRIL 18, 2024

million in February, according to a report released Thursday by the National Association of Realtors (NAR). There are nearly six million more jobs now compared to pre-COVID highs, which suggests more aspiring home buyers exist in the market.” The inventory of existing homes has been steadily increasing, despite elevated mortgage rates.

Inventory 339

Inventory Real Estate Agent Sellers Buyers 339

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 355

Inventory Contracts Housing Market Realtors 355

Housing Wire

JANUARY 29, 2024

Most economists forecast mortgage rates to decline in 2024, stoking optimism about the housing market. According to the newest Bloomberg Markets Live Pulse Survey (MLIV Pulse), the rate on the 30-year fixed mortgage will fall to 5.5% In 2023, only 4.09 by the end of this year. On Monday, meanwhile, 97.9% With the U.S.

Mortgage 414

Mortgage Inventory Investors New Listings 414

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. The mortgage market is projected to slip further to $2.17 trillion in 2022.

Housing Market 400

Housing Market Supply Chain Marketing Inventory 400

Housing Wire

OCTOBER 12, 2022

The forecast for the housing market in 2023 gets worse by the month, with the latest report predicting a million-plus decline in existing home sales. The mortgage market is projected to slip further to $1.3 trillion in 2023, according to the government-sponsored enterprise. million in 2023. from a year ago. .

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Contracts Modernization Housing Market Mortgage 414

Housing Wire

SEPTEMBER 19, 2023

Meanwhile, the available inventory of unsold homes is growing. This week, inventory grew faster than it did last year at this time. This is alarming because this was the moment last year when the market turned south. Last year, inventory climbed dramatically for months. This is a trend worth watching. What’s happening?

Housing Market 405

Housing Market Marketing Inventory New Listings 405

Housing Wire

NOVEMBER 30, 2023

Bright MLS released its National Housing Market Outlook on Wednesday, which shows that affordability will remain the biggest challenge for homebuyers next year. Homebuyer traffic will increase in 2024, fueled by lower mortgage rates and more existing-home inventory. million, up 12% from 2023’s 4.1 million in 2023.

Buyers 431

Buyers Housing Market Sellers Inventory 431

Housing Wire

FEBRUARY 22, 2024

from December to a seasonally adjusted annual rate of 4 million in January, according to a report from the National Association of Realtors (NAR). million in January 2023. In fact, by the end of January, for-sale housing inventory was at 1.01 Unsold inventory sits at a 3-month supply at the current sales pace, down from 3.1

Inventory 397

Inventory Sellers Buyers Realtors 397

Housing Wire

APRIL 25, 2024

in March compared to February despite rising mortgage rates , according to data released Thursday by the National Association of Realtors (NAR). Meaningful gains will only occur with declining mortgage rates and rising inventory.” Existing-home inventory in March improved 14.4% Existing-home inventory in March improved 14.4%

Inventory 377

Inventory Buyers Realtors Investors 377

Housing Wire

DECEMBER 14, 2022

Growing concerns of a recession, led by the Federal Reserve ’s continued interest rate hikes next year, will prompt mortgage rates to trend lower in 2023, according to numerous experts. by the end of 2023, according to fresh projections, up from an estimate of 3.9% by the end of 2023, dropping slightly from the projected 7.5%

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Mortgage Housing Market Buyers Sellers 410

Housing Wire

MARCH 6, 2023

He was cautiously optimistic for a better 2023. With the industry cooling down slower than expected, LOs are having to work harder and get creative to overcome the double whammy of surging rates and a lack of inventory. While mortgage rates are high, rent in the Tampa Bay, Florida market has also been rising.

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Loan Officers Inventory Real Estate Agent Buyers 364