Housing Wire

AUGUST 4, 2024

Mortgage rates moved massively lower last week without any Federal Reserve rate cuts, primarily because the labor market is getting softer. As we can see below, when the market priced economic weakness earlier in 2024, it took the 10-year yield down toward 3.80% but didn’t break that level. Can mortgage rates go even lower?

Mortgage 512

Mortgage Inventory New Listings Housing Market 512

Housing Wire

MARCH 15, 2024

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

Buyers 504

Buyers Agents Mortgage Real Estate Agent 504

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. The median existing- home price for all housing types in October was $391,800, down from $394,300 in September but up 3.4% Looking at the four major U.S. All four U.S.

Inventory 410

Inventory Realtors New Listings Contracts 410

Housing Wire

SEPTEMBER 15, 2024

10-year yield and mortgage rates My 2024 forecast included: A range for mortgage rates between 7.25%-5.75% A range for the 10-year yield between 4.25%-3.21% Mortgage rates are at their lows for 2024 and are not that far from the very bottom forecast I had for 2024 at 5.75%. More detail on that is here.

Mortgage 502

Mortgage Inventory New Listings Retail 502

Appraisal Buzz

AUGUST 5, 2024

During the second quarter of 2024, the demand for distressed properties at auction displayed strong performance initially but showed signs of decline in June, even as the supply of available auction properties continued to contract, according to Auction.com’s latest Auction Market Dispatch report. “The

Retail 273

Retail Renovations Inventory Contracts 273

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 2024 Despite these conditions, Yun still expects annual existing home sales to drop 11.1% million units.

Housing Market 431

Housing Market Realtors Contracts Buyers 431

Housing Wire

AUGUST 24, 2024

Did the changes affect any of the housing data we track every week? Since the buyer’s commission payout isn’t as transparent as before, I have been anticipating delays in the home-buying process as people adapted to the new rules. Here are the price-cut percentages for last week over the previous few years: 2024: 39.9%

Inventory 482

Inventory New Listings Sellers Mortgage 482

Housing Wire

APRIL 15, 2024

Although more agents are fielding questions about the commission lawsuits than they were a quarter ago , they also remain optimistic about where the housing market is headed in the second quarter of 2024, according to the RealTrends Q2 2024 AgentPulse survey.

Inventory 421

Inventory Agents Real Estate Sellers 421

Housing Wire

JUNE 14, 2024

home sales, with Redfin reporting Friday that sales in May 2024 dropped to one one of the lowest levels of the past decade. Buyers today are facing many of the realities of a hot market even though few homes are changing hands,” Redfin senior economist Elijah de la Campa said in the report. during the year ending in May 2024.

Sellers 466

Sellers Buyers Contracts Brokerage 466

Housing Wire

JUNE 22, 2024

The year-to-date data for 2024 is unfavorable, with 8 positive prints, 13 negative prints and two flat prints. 10-year yield and mortgage rates Considering the softness in the economic data last week, with retail sales and housing starts at COVID-19 recession levels, which I wrote about here , the 10-year yield held up well.

Mortgage 452

Mortgage Inventory New Listings Contracts 452

Appraisal Buzz

AUGUST 1, 2024

The market is getting more buyer-friendly as a result of a combination of increasing inventory levels and price decreases, according to Realtor.com’s July housing data. In July 2024, the number of active homes for sale increased by 36.6% In addition, the number of newly listed properties on the market increased by 3.6%

Inventory 418

Inventory Sellers Buyers Housing Market 418

Housing Wire

JUNE 29, 2024

Here is the new listings data for this week for the last three years: 2024 70,606 2023: 61,749 2022: 90,741 Our pre-listing data has declined recently, so it doesn’t look good for my 80K minimum peak call in 2024. As we can see, 2023 and 2024 data look much different than 2022 data when home sales crashed.

New Listings 415

New Listings Inventory Contracts Sellers 415

Appraisal Buzz

JUNE 17, 2024

Since March, when new listings increased but buyer demand remained sluggish, the share of properties on the market for at least one month has increased year-over-year, as it has since mortgage rates began climbing in 2022. The typical monthly housing payment in the U.S. set in October 2023. two years ago. metros: 1.

Marketing 431

Marketing Inventory Contracts New Listings 431

Housing Wire

JANUARY 3, 2024

Real estate agents are optimistic about the housing market and working to implement buyer agency agreement as we head into 2024, according to the RealTrends Q1 2024 AgentPulse survey. Better buyer and seller presentations to break down payment to a more granular level,” was one agent’s response.

Agents 423

Agents Realtors Clients Real Estate 423

Housing Wire

MAY 1, 2024

On Wednesday evening, during the firm’s Q1 2024 earnings call with investor and analysts, CEO Rich Barton took a contrary view: Zillow is just beginning to unlock its revenue generating potential. “In In a hostile housing market and a noisy industry environment, why is Zillow outperforming?” he posited.

Real Estate 430

Real Estate Agents Contracts Real Estate Agent 430

Housing Wire

FEBRUARY 29, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. Meanwhile, new home sales , which are also a measure of contract signings, reached a seasonally adjusted annual rate of 661,000 in January, up 1.5% As a result, long-term housing demand is increasing more significantly in these regions.

Contracts 431

Contracts Inventory New Listings Realtors 431

Housing Wire

JUNE 21, 2024

However, what is different this year from 2023 is that we have more sellers that will be buyers. That means that our weekly pending sales contract data is showing growth year over year. Of course, the housing market didn’t have the credit sales boom it had from 2002-2005, but it lacked inventory.

Inventory 458

Inventory Housing Market New Listings Contracts 458

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. Many of his buyers are still waiting for rates to come down before seeking preapproval for a mortgage.

Loan Officers 421

Loan Officers Mortgage Buyers Inventory 421

Housing Wire

DECEMBER 6, 2023

Pennymac Financial Services is the latest mortgage company to issue debt in a challenging housing market. Analysts see mortgage companies issuing debt as a sign that market conditions may improve in 2024. The offer is subject to market conditions and other factors. For example, Freedom raised $1.3

Contracts 408

Contracts Investing Investors Mortgage 408

Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The recovery has not taken place, but the housing recession is over,” said NAR Chief Economist Lawrence Yun. The presence of multiple offers implies that housing demand is not being satisfied due to lack of supply. in 2024, according to NAR’s forecast.

Construction 370

Construction Inventory Realtors Housing Market 370

Housing Wire

JUNE 11, 2024

“Historically, buyers have had unlimited access to agents without ever needing to compensate them for their time,” Garg said. The settlement of the commission lawsuits mandates that buyers now sign a contract to compensate their agents directly before touring homes or even identifying potential properties.

Real Estate 428

Real Estate Real Estate Agent Technology Design 428

Housing Wire

AUGUST 1, 2024

It is fitting that the 2024 Summer Olympics in Paris are the backdrop for the final two weeks leading up to when the real estate industry will undergo its largest structural change in decades — a feat of near-Olympic proportions. They will also have to obtain a signed buyer representation agreement prior to a buyer’s first home tour.

Real Estate Agent 421

Real Estate Agent Real Estate Agents Business 421

Housing Wire

FEBRUARY 20, 2024

A housing market marked by relatively high interest rates and tight inventory — and punctuated by the practice of home inspection waivers to sweeten offers — are taking a bite out of business for home inspectors, who play a key role in the sales process by ensuring that buyers are not being sold a lemon of a house.

Inspection 410

Inspection Real Estate Agent Real Estate Insurance 410

Housing Wire

JULY 29, 2024

Any sales growth momentum in the real estate market we might have had early in the year is gone. New home sales contracts are coming in pretty consistently fewer than last year — 4.9% Our Immediate sales measure of homes that get listed, take offers and go into contract in a few days is also notably lower than last year.

Housing Market 419

Housing Market Marketing Inventory New Listings 419

Housing Wire

SEPTEMBER 22, 2022

The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . With the home-price growth we had in 2020 and 2021, my five-year price-growth model that I set for 2020-2024 of 23% was already smashed in just two years.

Inventory 458

Inventory Housing Market New Listings Mortgage 458

Housing Wire

MAY 2, 2024

The housing market has been on a topsy-turvy roller-coaster ride in recent years that has been particularly neck wrenching since this past fall, fueled by stubbornly high inflation and a still-strong jobs market. They crested near 7.6% at the end of April, according to HousingWire ’s Mortgage Rates Center.

Marketing 430

Marketing Mortgage Investors Sellers 430

Appraisal Today

NOVEMBER 3, 2023

Advisory Opinions For 2024, the ASB has retired Advisory Opinion 16 (AO-16) and replaced it with two new Advisory Opinions, AO-39 and AO-40. These requirements are carried forward in the 2024 edition of USPAP. USPAP 2024 is effective January 1, 2024. To read more, click here My comments: Be sure to read this blog post.

Appraisal 81

Appraisal Contracts Architecture Mortgage 81

Housing Wire

MARCH 1, 2023

Issuance of agency mortgage-backed securities (MBS) is projected to contract significantly over the next two years in the face of a housing-market contraction, but the actual supply of MBS available for purchase in the private market is expected to swell to record levels over that period. trillion and to nearly $9.3

Marketing 384

Marketing Investing Mortgage Investors 384

Housing Wire

JULY 6, 2024

This is precisely what the doctor ordered for the housing market. In March of 2022, we only had 240,000 active single-family homes available for sale, leading me to call the housing market savagely unhealthy as we simply had too many people chasing too few homes. have higher inventory data than the national data.

Housing Market 450

Housing Market Mortgage Inventory Marketing 450

Housing Wire

FEBRUARY 28, 2022

regions, only the West registered an increase in month-over-month contract activity. million as mortgage buyers became more active toward the end of the year, which breaks from the seasonal patterns. housing market is the inventory crisis, as we have started 2022 with fresh new all-time lows in inventory.

Inventory 410

Inventory Housing Market Realtors Marketing 410

Housing Wire

JANUARY 2, 2024

real estate market is in and it may surprise you, but pretty much all the signals for housing in 2024 are pointing for growth now. Inventory is slowly but steadily increasing over last year, which means slightly more options for buyers this spring. There are now 258,000 single family homes in contract.

Housing Market 528

Housing Market Marketing Inventory Contracts 528

Housing Wire

JULY 15, 2024

If we look at the housing market right now, sales are down, new listings are down and prices are decelerating. Good inflation data came in last week, the bond market rallied and mortgage rates took a notable dip below 7% for the first time in months. If so, how should we expect the housing market to react?

Housing Market 479

Housing Market New Listings Marketing Mortgage 479

Housing Wire

JULY 22, 2024

Fewer sales, mean a shrinking housing market as consumers wait it out. real estate market as we’re now in the second half of 2024. this week to 668,000 single-family homes unsold on the market. will be significant enough move in rates to move the needle for buyers. Let’s look at the details of the U.S.

Buyers 466

Buyers Inventory New Listings Sellers 466

Appraisal Today

MAY 10, 2024

ROV (Reconsideration of Value) Changes – FHA and GSEs GSE Effective date is August 29, 2024 HUD Effective date is September 2, 2024 Editor’s note: This long section includes, In order: McKissock/Dave Bradley post with a good summary including links to HUD and GSE documents. It was and is controversial. Try this this bigger oar.

Reconsideration of Value 78

Reconsideration of Value Appraisal Real Estate Insurance 78

Appraisal Today

MARCH 8, 2024

I’m always looking for something new = Shifting Tides in the Housing Market: A February 2024 Perspective By Kevin Hecht Excerpts: As we navigate through the early months of 2024, the U.S. housing market presents a landscape of contrasts and evolving dynamics. Is The Housing Market OK?

Appraisal 87

Appraisal Contracts Real Estate Housing Market 87

Appraisal Today

APRIL 5, 2024

To see the listing with 19 photos, Click Here == LoanDepot Appraisal Discrimination Settlement By Peter Christensen, March 28, 2024 Connolly and Mott v. The second development in the case is that on March 22, 2024, the attorneys for Drs. a state-of-the-art home gym, salon, yoga room. No pickleball court. District Court, Maryland.

Appraisal 81

Appraisal Contracts Business Construction 81

Housing Wire

JULY 20, 2024

We finally have six weeks of numbers that hit my housing inventory growth model perfectly in 2024. Last year, with higher mortgage rates , we had zero weeks at this level so I am now giving 2024 inventory growth a grade of A. Yes, home prices are still rising in 2024, but the pace is significantly slower than in 2020 and 2021.

Inventory 522

Inventory New Listings Contracts Mortgage 522