Housing Wire

DECEMBER 5, 2022

I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. In many ways it was similar to today, with one exception: When I started, I hadn’t been spoiled by a housing market like the one in 2020 and 2021. economy, especially the mortgage and housing sector.

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Housing Wire

SEPTEMBER 19, 2023

Buyers early in 2023 had slightly lower rates than now and were optimistic that mortgage rates would go lower still. This “higher for longer” conventional wisdom is working its way through the housing market. This change in buyer expectations is adding to the slowness right now. That’s 12% fewer than last year.

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Housing Wire

DECEMBER 23, 2022

This article is part of our 2022-23 Housing Market Forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business.

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Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. ” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!) But the housing market in the second half of 2022? over asking price. High octane stuff.

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Housing Wire

APRIL 17, 2023

Local housing markets is a HousingWire magazine feature spotlighting housing trends across the country. Austin, Texas In 2021, Austin had one of the hottest housing markets in the country. It is keeping the pressure on buyers to shop wisely,” Kent Redding, a local Berkshire Hathaway Home Services agent, said.

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Housing Wire

SEPTEMBER 7, 2023

However, high home prices and growing affordability challenges are the two factors weighing on prospective home buyers, said Sturtevant. She expects a market contraction this fall in the housing sector.

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Housing Market Mortgage Marketing Contracts 416

Housing Wire

MARCH 1, 2023

Higher mortgage rates have zapped mortgage demand, as buyers are having second thoughts about purchasing homes. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances that are $726,200 or less increased to 6.71% from the previous week’s 6.62%.

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Housing Wire

JUNE 21, 2021

Many are eyeing scenic East Tennessee, where Knoxville and its surrounding suburbs have formed one the country’s hottest housing markets. Currently on Realtor.com , more than 2,000 homes are currently on the market in Knoxville with an average listing price of $270,000. Generally, they go under contract in a day or two.”

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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.

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Housing Wire

DECEMBER 10, 2021

As we approach the end of another hot year for the market, homebuyers and sellers are eagerly looking ahead to the 2022 housing market. Will the market continue its streak of strong growth, or are we finally about to see a slow down? I’ll also highlight which variables we should be watching for unexpected market shifts.

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Housing Wire

OCTOBER 1, 2022

However, there are a number of attention-grabbing headlines, which unfortunately only compare today’s housing market to the very recent history of the last two years. It is always good to know where we are with the real estate market, but it is essential to keep all data in historical perspective. . Historically 2.5

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Housing Wire

JULY 25, 2022

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. The market is going to go into correction,” he said. “I

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Housing Wire

DECEMBER 1, 2022

Interest rates and inflation continued to dampen activity in the housing market across all 12 Federal Reserve districts, according to the Fed’s latest Beige Book. Following dampened activity from buyers, sellers provided increased concessions, such as temporary rate buydowns or paying closing costs to complete sales, the report noted.

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Housing Wire

AUGUST 14, 2023

Mortgage rates have been stubbornly above 7% for two months and it sure looks like home buyers are growing weary. We can see signs that buyers are slowing, both in the sales volume and in the sales price data. This slowdown is not like last year, instead, it’s just slightly fewer buyers each week. We measure the housing market.

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Housing Wire

JANUARY 19, 2023

While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. Housing markets continued to weaken, with sales and construction declining across [all 12 Federal Reserve] districts,” according to the Federal Reserve Beige Book released on Wednesday.

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Housing Wire

MARCH 26, 2023

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. In a regular market, they would be closer to 5.25%.

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Housing Wire

OCTOBER 23, 2020

And while real estate agents repping luxury homes aren’t seeing as many bidding wars as they did this summer , their respective housing markets are still crazy right now. Contracts during this time also skyrocketed 62%. And, since early July to now, it’s just getting very busy.”. 1, and runs through May 1.

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Sacramento Appraisal Blog

JULY 6, 2022

A quick change in rates has led to a quick change in the housing market. UPCOMING (PUBLIC) SPEAKING GIGS: 7/15/2022 Lunch & Learn Big Market Update (sign up here)) […]. We didn’t see much difference right away in the stats, but we are finally getting some good numbers now. Let me show you what I mean.

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Housing Wire

DECEMBER 19, 2023

The defining characteristic of the 2023 housing market has been dramatically fewer home sellers than any recent year. The inventory picture There are now 539,000 single-family homes on the market unsold, which is up 3.2% Housing inventory climbed late in the year as mortgage rates rose. than last year at this time.

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Housing Wire

MAY 30, 2024

New-home sales , which are also based on contract signings, fell 4.7% The few markets experiencing price declines will be viewed as second-chance opportunities for buyers to enter the market if those regions continue to add jobs.” month over month and 7.7%

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Housing Wire

NOVEMBER 23, 2022

The seller, who struggled to find a buyer in a cooled down housing market, agreed to deposit a lump sum payment into an escrow account at closing – ultimately saving Davis $6,900 in monthly payments in the first two years. With the mortgage market rapidly shrinking – some experts believe it might contract to just $1.3

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Housing Wire

OCTOBER 31, 2023

To get the weekly picture of the housing market, watch the video above. Inventory creeps up There are now 562,000 single-family homes on the housing market. This would be the first inkling of a housing market where sales could start to post year-over-year gains. Don’t have time? That’s up 1.5%

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Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. of homes that went under contract that month, according to a new report from Redfin. A lot of sellers are also willing to let buyers slip away because they don’t want to concede to repair requests,” Morre said.

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Housing Wire

SEPTEMBER 28, 2023

An index of 100 is equal to the level of contract activity in 2001. Pending home sales, like new home sales, are based on contract signings. Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers,” Lawrence Yun, NAR chief economist said.

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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. 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. “Job in December, up from 71.6 in November.

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Contracts Housing Market Construction Inventory 448

Housing Wire

OCTOBER 21, 2020

The housing market faced a lot of uncertainty when COVID-19 caused the real estate industry to pause under shut-downs, but low interest rates and the desire for more space has turned this year into a boom time for real estate agents. Lovern was actually on maternity leave at that time when open houses and contracts were paused. “In

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Housing Wire

APRIL 1, 2024

There are still a lot of people who assume that mortgage rates need to fall before we see a rebound in home sales, but the data shows that we only need stability in the mortgage markets. Pending sales Last week saw 69,000 new contracts for single-family home purchases across the country. There were another 15,000 condo sales started.

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Inventory New Listings Contracts Sellers 457

Housing Wire

APRIL 30, 2021

But if you can afford it, notes Redfin Agent Melanie Miller, building a new home is still the preferred route to take for many versus entering the shark-infested waters of the current housing market. A healthy housing market is considered roughly six months of supply. ” However, the U.S. ” However, the U.S.

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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. Just 31.4%

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Housing Wire

JULY 21, 2021

“Many buyers who have been priced out of the market for single-family homes have turned to condos,” Fairweather said. “Earlier in the pandemic, many buyers shunned small condos in favor of large detached homes with space for offices and homeschooling.

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Cleveland Appraisal Blog

MARCH 30, 2021

TODAY’S HOME BUYERS ARE LIKE THE CARP. This fish phenomenon reminds me of the housing market today. As soon as homes hit the market, they often sell in days, with numerous offers that usually bid the list price up. This year, it appears that buyer panic is even worse than last year. That is a lot of bread!

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Housing Wire

MAY 6, 2024

The good news for the housing market is that the pace of sales is gradually improving due to the expanded supply. housing market as we roll into May 2024. Housing inventory There are now just under 600,000 single-family homes on the market. More home sellers are coming back to the market each week.

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Housing Wire

MARCH 26, 2021

Portland, Maine, has emerged as a popular destination for current homeowners and prospective buyers looking to move out of metro areas into more spacious secondary cities. With demand that high, homes for sale are going under contract 24 to 36 hours after they are put on the market. A recent report from Redfin showed that 14.9%

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Housing Wire

MAY 28, 2021

Numerous other sales records were also set, including the median home sale price ($354,250) and number of days on the market (17, down from 36 one year ago). Diving deeper, for the two week period ending May 9, 2021, 57% of homes that went under contract had an accepted offer within the first two weeks on the market.

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Housing Wire

JULY 28, 2022

But they do agree on one thing: Higher interest rates will quell housing demand, which will allow inventory to rebound and, eventually, spur the return of reluctant buyers. If mortgage rates peak, Fratantoni said, “potential buyers who had been scared off by the rate spike, might find their way back to the housing market.”.

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Sacramento Appraisal Blog

JANUARY 16, 2023

How are appraisers handling concessions to the buyer? Could a seller credit damage the chance of appraising at the purchase contract? These questions weren’t asked a year ago, but welcome to the 2023 housing market.

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Housing Wire

MAY 28, 2024

More people coming off the sidelines to sell their homes is a healthy signal for the market. No one wants a scenario in which there’s a flood of sellers but no buyers. There were 72,000 new listings unsold and another 18,000 listings that are already under contract (i.e., There were also 68,000 new contracts started this week.

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