Housing Wire

AUGUST 24, 2023

Fannie Mae maintains its baseline call for a recession to occur – forecasting it to begin in the first half of 2024. In its July ESR note , Fannie Mae projected a modest recession beginning in Q4 2023 or Q1 2024. on a Q4/Q4 basis and revised its 2024 GDP growth prediction to a 0.2% decline from 0.1% down from 4.88 This was 9.5%

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Housing Wire

MAY 16, 2024

A key conclusion is that while new construction creates additional supply for first-time and move-up buyers alike, it comes with an additional expense. While many metro areas currently offer an advantage where you can purchase a new construction home for a similar price or even less than the average area home, there is still a 23.8%

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Construction Law Finance Realtors 363

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). in 2024, hitting 800,000 new homes. For those new construction units, the national median new home price is projected to drop by 5.9% in 2024, to $445,800.

Inventory 355

Inventory Contracts Housing Market Realtors 355

Housing Wire

FEBRUARY 27, 2023

January’s pending home sales picked up right where they left off in 2022, posting the second consecutive month of increases, according to data released Monday by the National Association of Realtors (NAR). in 2024 Despite these conditions, Yun still expects annual existing home sales to drop 11.1% annual jump in 2024.

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Housing Market Realtors Contracts Buyers 393

Housing Wire

APRIL 18, 2024

million in February, according to a report released Thursday by the National Association of Realtors (NAR). Meanwhile, new construction of both single-family and multifamily homes receded in March. Prospective home buyers face a very confusing housing market,” Bright MLS chief economist Lisa Sturtevant said in a statement.

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Inventory Real Estate Agent Sellers Buyers 339

Housing Wire

JANUARY 19, 2024

Existing home sales dropped to their lowest level in nearly 30 years in 2023, according to a report from the National Association of Realtors (NAR), released Friday. It requires economic and income growth and, most importantly, a steady buildup of home construction.” Compared to a month ago, housing inventory was down 11.5%

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Inventory Realtors Housing Market Construction 416

Housing Wire

JULY 27, 2023

After dropping slightly month over month in May , pending home sales ticked back up in June, rising 0.3%, according to data released Thursday by the National Association of Realtors (NAR). in 2024, according to NAR’s forecast. million in 2024. On the flip side, newly constructed home sales are forecast to increase 12.3%

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Construction Inventory Realtors Housing Market 339

Housing Wire

JANUARY 19, 2024

Today, we need context for the growth we’ll see in existing home sales in 2024. Our housing market tracker counts weekly active single-family listings, those homes that aren’t in the contract, and the raw available number of homes for sale. This is a positive for housing in 2024 as most sellers are buyers.

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Housing Market Inventory Contracts Marketing 405

Housing Wire

APRIL 27, 2023

month-over-month decrease, according to data released Thursday by the National Association of Realtors (NAR). in 2024, and housing starts will fall 7.3% annual in 2024 to 1.54 annual increase in 2024, bringing existing home sales back up to 5.26 In the new construction sector , NAR predicts sales to increase 4.5%

Inventory 387

Inventory Realtors Contracts Construction 387

Housing Wire

SEPTEMBER 21, 2023

The housing market will remain subdued until the Federal Reserve starts cutting rates next year, according to economists and housing pros following the central bank’s Wednesday announcement to leave the benchmark rate unchanged in the target range of 5.25%-5.5%. in 2024 and 5.1% in 2024, up from the 4.6%

Real Estate 368

Real Estate Mortgage Buyers Inventory 368

Housing Wire

MAY 10, 2023

Lawrence Yun , the National Association of Realtors ’ chief economist, took a stronger stance during the “Residential Economic Issues and Trends Forum” at NAR’s ongoing Legislative Meeting. According to Yun, the Fed’s rate hikes have hurt regional banks and the housing market. in 2023 before dropping below 6.0%

Housing Market 341

Housing Market Insurance Realtors Buyers 341

Housing Wire

APRIL 1, 2024

While many proptech companies have struggled to adapt to the slower housing market conditions and challenging venture capital environment, Flyhomes is viewing this as a time to grow. By the end of second-quarter 2024, Flyhomes hopes to be licensed and operational in 40 states. “So, This is just one more arrow in their quiver.”

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Loan Officers Clients Mortgage Construction 343

Housing Wire

APRIL 11, 2022

Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Then in 2018, when mortgage rates got to 5%, we had a supply shock for the builders, which in essence stalled out construction for 30 months. million to 1.93

Inventory 494

Inventory Housing Market Marketing Modernization 494

Housing Wire

SEPTEMBER 13, 2023

Additionally, apartment construction is strong , which puts an additional pressure on landlords to avoid vacancy. “The recent rent and house price declines are only just starting to show up in the CPI and will likely drag down headline CPI through 2024,” added Potapov. The rent index was up 7.2% a year earlier. .

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Landlords Insurance Construction Realtors 333

Housing Wire

MARCH 29, 2022

Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Then in 2018, when mortgage rates got to 5%, we had a supply shock for the builders, which in essence stalled out construction for 30 months. million to 1.93

Inventory 404

Inventory Housing Market Marketing Modernization 404

Housing Wire

JUNE 22, 2023

Existing home sales marginally increased in May , but were still down significantly from a year prior, according to the latest report from the National Association of Realtors (NAR). Newly constructed homes are selling at a pace reminiscent of pre-pandemic times because of abundant inventory in that sector. million in May.

Inventory 328

Inventory Construction Realtors Marketing 328

Will Springer Realtor

DECEMBER 19, 2023

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. More than 75% of homes on the market are deemed too expensive for middle-class buyers, according to a study from the National Association of Realtors® (NAR) and realtor.com.

Real Estate 68

Real Estate Buyers Sellers Inventory 68

Listing Spark

FEBRUARY 7, 2024

As we enter into 2024, we are stepping out of one of the most turbulent years for real estate in Texas in some time. In this article, we will recap what exactly happened to the real estate market in Texas last year and discuss some predictions for the rest of this year. National mortgage originations closed the year at less than $1.5

Real Estate 36

Real Estate Sellers Home Value Inventory 36

Will Springer Realtor

FEBRUARY 13, 2024

The Seattle/King County housing market appears to have come through the worst of times with a slightly stronger showing in January than in previous months. This will skew figures, particularly in Seattle where more ADUs are under construction than traditional single-family residences. in Q1 2024 (previous forecast: 7.0%) 6.2%

New Listings 54

New Listings Buyers Inventory Lending 54

Housing Wire

JULY 6, 2023

This, in part, is causing the tight inventory we’re seeing in the housing market today, as two out of every three houses have mortgages with interest rates below 4% and aren’t motivated to sell their house unless a significant circumstance warrants it.” through the first quarter of 2024.” housing affordability.”

Inventory 447

Inventory Renovations Real Estate Government 447

Empire Appraisal Group

JANUARY 11, 2023

While 2022 may be remembered as a year of housing volatility, 2023 likely will become a year of long-lost normalcy returning to the market, economists predicted Tuesday during the National Association of REALTORS®’ annual Real Estate Forecast Summit. NAHB: Sharp Contraction in Construction. Bright MLS: The Great Reset. “We

Real Estate 78

Real Estate Marketing Buyers Sellers 78

Will Springer Realtor

OCTOBER 11, 2022

Seriously though, there must be a ceiling to rising rates that have all but extinguished a robust housing market. housing market is experiencing a price “correction,” defined as a 10% price drop from its most recent peak. That’s according to a survey of 1,002 Hispanic Americans by The National Association of Realtors®. >>

Housing Market 36

Housing Market Marketing Buyers Real Estate 36

Empire Appraisal Group

OCTOBER 28, 2021

USA TODAY spoke to eight experts to find out if a housing crash is on the horizon. For one, they say the housing market in 2021 is not like the boom-bust cycle leading up to the Great Recession. Given the strong housing market and price appreciation, banks are more likely to work with borrowers to restructure their loans.

Inventory 78

Inventory Housing Market Construction Real Estate 78

Will Springer Realtor

SEPTEMBER 12, 2023

There is a feeling of Halloween in the real estate world because this housing market is a bit scary these days. The market is spooking many potential buyers and sellers thanks to stubbornly high mortgage interest rates. The single-family-housing market is also limping along. by the end of 2024. There are 7.4%

Finance 68

Finance Inventory Construction Buyers 68

Listing Spark

SEPTEMBER 25, 2023

The 5 most notable changes to the Texas Housing Market To really understand how these rising rates have changed things, we need to look at the big shifts in the housing market. Here are five of the biggest change in the Texas Real Estate market. At least, not yet.

Real Estate 69

Real Estate Sellers New Listings Inventory 69

Will Springer Realtor

JANUARY 9, 2024

The Federal Reserve recently updated its forecast, hinting at a potential decrease of about 75 basis points (0.75%) in its short-term lending rate by the year’s end – promising news for borrowers in 2024. This represents about 75M homeowner households, according to a Harvard housing report, out of a total of 85M households nationwide.

Mortgage 36

Mortgage Real Estate Law Lending 36

Cornerstone

JUNE 1, 2021

Lawrence Yun, NAR’s (National Association of REALTORS®) Chief Economist, recently stated : “[This] is not a bubble. ” Yun said this in response to the high homebuyer demand and rising housing prices we’re currently seeing — which he blamed simply on a shortage of inventory. percent 2023: 4 percent 2024: 3.6

Inventory 52

Inventory Buyers Sellers Investing 52

Will Springer Realtor

DECEMBER 12, 2023

To a happy 2024! = I wrote in this newsletter 12 months ago about the bumpy – maybe even bruising – housing market of 2022 across Puget Sound and most of the country. Just for Fun: In December 2022, the National Association of Realtors® projected mortgage interest rates would be 5.7% 19) at 10am PT. San Jose, Calif.,

Real Estate 36

Real Estate Buyers Housing Market Law 36

Will Springer Realtor

NOVEMBER 14, 2023

Worsening affordability issues and lower-than-usual inventory have prompted many consumers to watch this housing market from the sidelines – without the picket lines. in 2024 and 4.5M 2024 Outlook Freddie Mac is one of a few government-backed agencies that purchases mortgage loans from lenders. Among all U.S.

Inventory 36

Inventory Buyers Sellers New Listings 36

Appraisal Today

SEPTEMBER 8, 2023

It’s been on and off the market since 2014, four years after a lengthy construction project there was completed. Still on the market for the same amount in 2015, the eye-popping property ranked as one of the most viewed homes on Realtor.com®. After all, this isn’t the first time the unique property has been listed.

Appraisal 80

Appraisal Contracts Business Construction 80

Will Springer Realtor

MAY 13, 2024

America’s shortfall is most acute with the most vulnerable, as affordable housing inventory has been shrinking for decades. 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. shy of the need. But for how long?

HOA 36

HOA Transportation Construction Buyers 36

Will Springer Realtor

AUGUST 11, 2023

also the oldest age of a first-timer ever recorded by the National Association of Realtors® (NAR). Some developers are delivering smaller homes in the form of four- and six-plex townhomes on a parcel of land that once featured a single-family house. Click to expand any image or graphic from my newsletters and blog posts.)

Buyers 36

Buyers Development Construction New Listings 36

Will Springer Realtor

APRIL 10, 2024

Recent news that the National Association of Realtors® (NAR) wishes to settle a series of lawsuits from home sellers has sent ripples through the real estate industry. While the NAR denies any wrongdoing, the proposed settlement promises significant changes in how business is conducted in the real estate market. (A

Real Estate 36

Real Estate Buyers Sellers Insurance 36

Will Springer Realtor

MAY 9, 2022

All this tech construction gives new meaning to IT architecture! “A A growing diversified base of technology companies continue to proclaim the Eastside market as one of the best living and job opportunities in the country,” noted local commercial property firm Broderick Group in a report issued last month. “A million sq.

Architecture 36

Architecture Design Buyers Construction 36

Will Springer Realtor

MAY 12, 2021

Roughly 20 million Millennials will be entering their 30s, typically the time they purchase their first home, between now and 2024. Icon is on a mission to change the way we house the homeless and others. housing market needs 3.8 That’s 52% higher than 2018, when Freddie first began looking at housing shortages.

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Real Estate Inventory Buyers Construction 36