Housing Wire

APRIL 1, 2024

As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. All of these signals point to rising home sales in 2024. Pending sales Last week saw 69,000 new contracts for single-family home purchases across the country. At the same time, seller volume dried up.

Inventory 457

Inventory New Listings Contracts Sellers 457

Housing Wire

JANUARY 26, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. 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. increase between 2024 and 2025 to a pace of 5.35

Contracts 445

Contracts Housing Market Construction Inventory 445

Housing Wire

DECEMBER 19, 2023

In this week’s Altos Research video, I look at how home sellers and sales are up, but that doesn’t mean prices will climb in 2024. Housing inventory climbed late in the year as mortgage rates rose. Rates are falling now and if that continues, buyers will jump and inventory will fall well into the first quarter of 2024.

Sellers 424

Sellers Marketing Inventory Contracts 424

Housing Wire

MAY 22, 2024

Looking ahead, price growth will cool down in the second half of 2024 because of increased inventory and more homes taking a price cut before selling. The chart below shows that the inventory growth rate picked up more in 2024 after March. We have had two times recently when mortgage rates dropped more than 1%.

Inventory 449

Inventory New Listings Housing Market Contracts 449

Housing Wire

FEBRUARY 20, 2024

Mortgage rates are back over 7%. The economy has continued to be strong, so mortgage rates have defied expectations and remained very high. New pendings grow As inventory grows and new sellers grow, it was an encouraging week for new contracts too. This week saw 60,000 new contracts started for single family home purchases.

Mortgage 481

Mortgage Inventory Sellers New Listings 481

Housing Wire

JANUARY 23, 2024

For what felt like a moment in time, buyers enjoyed the luxury of being incredibly picky, carefully selecting what felt like their dream homes in a market that had shifted towards more favorable conditions. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

Real Estate Agent 403

Real Estate Agent Real Estate Buyers Agents 403

Housing Wire

OCTOBER 10, 2023

Mortgage rates continue to climb. It’s not uncommon to hear rates quoted over 8% for a 30-year fixed mortgage. 8% mortgage rates are a new reality We’ve been talking about the impact of 8% mortgage rates for months. The path to finally having more selection for homebuyers is through higher mortgage rates.

Mortgage 391

Mortgage Inventory Contracts Sellers 391

Housing Wire

APRIL 15, 2024

We saw a big jump in mortgage rates last week. The 30-year fixed rate mortgage, according to the HousingWire Mortgage Rates Center , is now over 7.2% — that’s 50 basis points above where we were at the start of the year. At that time, most of the voices in the media assumed that mortgage rates had peaked and would fall by now.

Inventory 373

Inventory Mortgage New Listings Sellers 373

Housing Wire

MARCH 11, 2024

Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The only way inventory would grow in 2024 is if mortgage rates climbed. But the evidence is the opposite.

Inventory 499

Inventory New Listings Sellers Real Estate 499

Housing Wire

MAY 6, 2024

As mortgage rates stay elevated and the number of unsold homes on the market grows — especially in the South — the leading indicators for future home sales prices continue to be softer than the current headlines suggest. That can change if mortgage rates fall dramatically, but the current trends show weakening home prices, not strengthening.

Inventory 392

Inventory Contracts Sellers New Listings 392

Housing Wire

APRIL 29, 2024

The bearish take is that there are many more sellers than buyers and inventory is rising. Mortgage rates are at 7.5% Even if the imbalance of more sellers than buyers continues, more sales will happen, especially compared to last year at this time. Mortgage rates are now topping 7.5%, the highest levels seen this year.

Sellers 462

Sellers Marketing Inventory Contracts 462

Housing Wire

JANUARY 8, 2024

Based on the trends we can see after the start of the year, I’ll project 2024 will see about 15% home sales growth over 2023. 2023 started with recovery, but slowed down in Q3 as mortgage rates hit 8%. But, 2024 is starting stronger than last year. But, 2024 is starting stronger than last year. That’s certainly possible.

Real Estate 487

Real Estate Marketing Inventory New Listings 487

Housing Wire

MAY 13, 2024

Home sales continue to run just a little ahead of last year’s pace, but with mortgage rates in the 7s, there are a ton of potential homebuyers sitting on the sidelines. All in all, you can see how effectively 7% mortgage rates have slowed the housing market. real estate market as of mid-May 2024. That’s up 1.5% for the week.

New Listings 402

New Listings Contracts Inventory Sellers 402

Housing Wire

MAY 2, 2024

In early November, 30-year fixed mortgage rates began a nosedive, declining from near 8% to below 7% in a matter of months before once again starting to rise at the start of 2024. at the end of April, according to HousingWire ’s Mortgage Rates Center. They crested near 7.6%

Marketing 361

Marketing Mortgage Investors Sellers 361

Housing Wire

APRIL 8, 2024

With the Easter holiday last week, data for housing inventory , new listings and the pace of new contracts started all took a breather from their growth pace. Here’s how 2024 is shaping up: There are now more listings, more active inventory and more sales than a year ago. So demand isn’t increasing.

Inventory 441

Inventory Contracts New Listings Sellers 441

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% NAR’s Pending Home Sales Index (PHSI) decreased to 74.3 in January, down from 77.3 in December.

Contracts 371

Contracts Inventory Realtors New Listings 371

Housing Wire

AUGUST 24, 2023

“In order to achieve a soft landing, economic growth will have to slow to a rate that is below trend for some time in order for the unemployment rate to rise sufficiently to cause wage growth to slow consistent with a 2% inflation target over the long term, but not so slow that the economy falls into a contraction,” the ESR group said.

Construction 262

Construction Retail Mortgage Contracts 262

Housing Wire

APRIL 22, 2024

After a couple weeks of big jumps for mortgage rates , we’re still seeing relatively surprising strength in the housing market. We’re watching a few key factors to see if homebuyers are backing off in the face of increased mortgage rates. With the most recent mortgage rate jump, inventory growth has also accelerated.

Inventory 474

Inventory New Listings Sellers Contracts 474

Housing Wire

NOVEMBER 1, 2023

The coming winter is expected to be an existential test of survival for many independent mortgage banks (IMBs), according to leaders of several mortgage advisory firms. “We’re really at the darkest part of the market this winter,” Brian Hale, CEO and founder of consultancy Mortgage Advisory Partners , said. .

Mortgage 431

Mortgage Loan Officers Finance Buyers 431

Housing Wire

JANUARY 20, 2023

Homebuilder confidence and demand for mortgages have increased recently, keeping hopes high for an improved housing market in 2023. But a modest recession is still expected this year, and elevated mortgage rates, coupled with high home prices, will limit housing activity, according to Fannie Mae. Prices are expected to fall 6.7%

Mortgage 346

Mortgage Housing Market Buyers Contracts 346

Housing Wire

JANUARY 29, 2024

They obviously picked up in December when mortgage rates did a recent dip. However, December’s momentum slowed very quickly in January as mortgage rates jumped back up and as a deep freeze gripped the country. Homes in contract rises There are more homes in contract now than last year at this time.

Contracts 390

Contracts Inventory Housing Market Mortgage 390

Housing Wire

SEPTEMBER 7, 2023

But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. You’ve got current economic conditions that are not opportunistic for a homebuyer right now, inflation is still out there and it’s all constraining buyers’ ability to spend. “You’ve

Buyers 373

Buyers Agents Loan Officers Real Estate 373

Housing Wire

OCTOBER 31, 2023

We may be nearing the bottom in home sales even if mortgage rates don’t decline. New listings decline isn’t as steep as a year ago There were only 53,000 new listings (single-family homes) unsold this week, plus 10,000 more new listings that are already in contract. There are far fewer sellers now than in any recent year.

New Listings 466

New Listings Inventory Contracts Housing Market 466

Housing Wire

MARCH 25, 2024

So while we can see currently the prices of home sales holding up, the signals for the end of 2024 and into 2025 seem to suggest we’re heading for flat home prices. Mortgage rates seem to have finally settled down. The longer mortgage rates stay higher, the more inventory will grow closer to the old levels.

New Listings 479

New Listings Inventory Contracts Sellers 479

Housing Wire

JANUARY 22, 2024

For several weeks, I’ve been reporting data that shows the housing market growing in 2024. Those metrics, specifically the pace of new listings and new sales contracts, slowed this week. New listings and new contracts both still show a bit of improvement over 2023, but the growth rates have slid back down. There were just 1.4%

Real Estate 387

Real Estate New Listings Contracts Inventory 387

Housing Wire

FEBRUARY 26, 2024

Price reductions ticked up this week for the first time since November in the face of rising mortgage rates. We can see the impact of higher mortgage rates slowing homebuyer demand. Last year at this time, we were seeing surprising home buyer demand with rates having fallen to the low 6s. The pace of sales inched down, too.

Sellers 401

Sellers Inventory New Listings Contracts 401

Housing Wire

SEPTEMBER 12, 2023

The point of the editorial seemed to be to scaremonger over government programs to help home buyers and student loan borrowers. Supply of homes for sale is very low, and most of the year we’ve had more buyers than sellers. New contracts dipped as affordability is out of reach for so many. That’s blatantly wrong.

Contracts 363

Contracts Inventory Housing Market Buyers 363

Housing Wire

MARCH 18, 2024

As we started 2024, the signals in the U.S. At the time, I observed that even if mortgage rates stayed flat, the momentum seemed to be in the cards for broad, slow growth in the market. However, mortgage rates didn’t stay flat. 1 and as of today, March 18, mortgage rates are 30-40 basis points higher than Jan.

Inventory 384

Inventory New Listings Sellers Contracts 384

Housing Wire

MAY 20, 2024

Well, I have revised down my estimates for national home-price appreciation for 2024. Both dynamics are elevated this year: more of the homes on the market have taken price cuts and the slope is pretty steep — meaning more homes each week are cutting prices because they don’t have offers from buyers.

Inventory 392

Inventory New Listings Sellers Contracts 392

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%

Housing Market 393

Housing Market Realtors Contracts Buyers 393

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?”

Agents 335

Agents Real Estate Contracts Real Estate Agent 335

Housing Wire

JUNE 5, 2023

Direct retail lender Revolution Mortgage has scooped up two of loanDepot ‘s top LOs, accelerating its plans to expand market share despite a tough origination environment. billion in 2023 and expects a target production of $4 billion in 2024. Johnson estimates origination volume will be between $2 billion and $2.5

Loan Officers 365

Loan Officers Mortgage Lending Retail 365

Housing Wire

MAY 17, 2024

has raised its closing guarantee from $5,000 to $20,000 until July 27, 2024, the bank announced on Thursday. The guarantee means that the bank promises an on-time closing on or before the contract closing date, or it will pay the homebuyer $20,000.

Lending 353

Lending Real Estate Agent Contracts Government 353

Housing Wire

APRIL 20, 2022

With rates at the highest level in a decade, mortgage applications for the week ending April 15 fell 5%, according to the latest survey by the Mortgage Bankers Association. Purchase mortgage applications were down 14% from the same week a year ago. As a result, other types of mortgage products are seeing renewed interest.

Mortgage 400

Mortgage Contracts Buyers 400

Housing Wire

DECEMBER 6, 2023

As we edge towards 2024, the real estate landscape buzzes with both opportunities and uncertainties. With home prices expected to hold steady and even grow in many markets, real estate agents face a unique market shaped by shifting demographics, evolving buyer expectations and lingering economic uncertainties.

Real Estate 355

Real Estate Agents Real Estate Agent Tools 355

Housing Wire

JANUARY 19, 2024

Today, we need context for the growth we’ll see in existing home sales in 2024. 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. This is a positive for housing in 2024 as most sellers are buyers.

Housing Market 405

Housing Market Inventory Contracts Marketing 405

Housing Wire

FEBRUARY 28, 2024

If you’re struggling to market your business on social media, or worse, haven’t even started yet, you might be in for a rude awakening in 2024. Who doesn’t want to learn mortgage secrets banks don’t want you to know? Visit Coffee & Contracts 3. Social media gives you the perfect opportunity to build a brand that resonates.

Real Estate 397

Real Estate Marketing Tools Contracts 397