Housing Wire

SEPTEMBER 27, 2023

housing market is back on track , stronger than ever, with a total estimated value of $52 trillion, according to a new analysis by Orphe Divounguy, a senior economist at Zillow Group. housing market has surged by more than $2.6 After experiencing a temporary hiccup between July 2022 to January 2023, the U.S.

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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

MAY 4, 2023

A paradoxical picture is emerging as the spring market is underway. On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. All major housing market metrics point to a restrained housing market. Buyer disappointment.

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Housing Wire

OCTOBER 20, 2023

The last two years of soaring mortgage rates and rising home prices have brought the fastest erosion in housing market affordability in modern history, and it’s hurt first-time homebuyers the most. To conduct this analysis, Redfin compared median monthly mortgage payments for homebuyers in August 2023 and August 2022.

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Housing Wire

NOVEMBER 9, 2020

Though prospective buyers revealed slight wariness in September, Fannie Mae reported buyer morale gained 6% in October, with 60% of respondents saying it is a good time to buy a home while those who believe it is a bad time fell to 35%. Low mortgage rates fuel the demand for valuation and settlement services.

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Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” ” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!)

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Appraisal Buzz

APRIL 2, 2024

With mortgage rates now well above 6.5% According to ICE Mortgage Technology’s Mortgage Monitor report , a homeowner looking to move to a home that is 25% more expensive would see their mortgage payments increase by an average of $1,384 per month, or 103%.

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Housing Wire

MARCH 1, 2023

Higher mortgage rates have zapped mortgage demand, as buyers are having second thoughts about purchasing homes. Mortgage applications for home purchases dropped 6% for the week ending February 24 from the previous week, according to the Mortgage Bankers Association ’s seasonally adjusted index. of the total volume.

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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. housing market inventory channels have changed due to how the U.S.

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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. at the end of 2022.

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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. Millennials comprised 75% of this demographic, with older millennials and Generation X (ages 44 to 58) accounting for 44% and 24% of first-time buyers.

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Housing Wire

SEPTEMBER 22, 2023

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. this week, Fannie Mae Chief Economist Doug Duncan believes that mortgage rates will stay elevated before the Fed makes further rate cuts. Kim: Spreads in the mortgage space are wide.

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Housing Wire

APRIL 8, 2021

Mortgage credit showed signs of loosening up in March, and with it, more availability for lower credit scores and high LTV products to enter the housing market, the Mortgage Bankers Association said in a report on Thursday. The group’s Mortgage Credit Availability Index rose.6% Presented by: Citibank.

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Housing Wire

JANUARY 29, 2024

Homebuyers are getting some relief in 2024 as mortgage rates recede from their 20-year high point of last October. mortgage rate, the prospective buyer with a $3,000 budget can afford a $453,000 home. In October, a buyer with the same monthly budget and a 7.8% mortgage rate could have afforded a $416,000 home.

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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. for much of the year before reaching 6.2% by the year’s end.

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Housing Wire

MARCH 18, 2022

You can see why I have been on team higher mortgage rates for some time now because we don’t have any other way to get off this madness. To get the housing market to be sane and normal again, we need inventory to get back in a range between 1.52 – 1.93 NAR Research : Unsold inventory sits at a 1.7-month

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Housing Wire

APRIL 23, 2023

Can we now say that the housing market ‘s spring selling season is finally underway? Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data.

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Inventory Housing Market Marketing New Listings 545

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. in August 2022 and marks the highest percentage since October 2022, when mortgage rates surpassed 7% for the first time in two decades. That rate is up from 14.3% That rate is up from 14.3% The median U.S.

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Housing Wire

MAY 23, 2023

While it’s not as clear how long-lasting the rebound will be, it does still provide some much-needed good news for the spring and summer housing market. This article is part of our ongoing 2023 Housing Market Forecast series. After this series wraps, join us on May 30 for the next Housing Market Update Event.

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Housing Wire

JANUARY 2, 2024

The “ silver tsunami ” — a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging — could have more of an impact on the housing market this year, according to analyst Meredith Whitney in a conversation with Yahoo Finance. “[T]he

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Housing Wire

JANUARY 9, 2023

The housing market saw inventory fall 4% last week from the week before. Traditionally, we do see housing inventory fall in the month of December, however, we clearly saw in the second half of 2022 that higher rates created more days on the market and inventory was lingering longer. That’s a big one-week change.

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Housing Wire

MARCH 30, 2023

Mortgage rates declined for the third consecutive week, sparking hope for a good homebuyers’ spring season. But while rates have dropped, the housing market has continued to be challenged by low inventory levels. Despite the week-over-week decline, mortgage rates started to tick up again over the last few days.

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Housing Wire

JANUARY 16, 2023

Mortgage rates fell along with bond yields, showing that mortgage rates peaked on Oct. The weekly data shows some good news for the housing market ! With mortgage rates also falling, I am hopeful that more people will list their homes and buy another, so we can get back to a more functional housing market.

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Housing Wire

SEPTEMBER 27, 2023

Despite mass layoffs in the wake of the Federal Reserve’s fight against inflation, mortgage professionals still see opportunities in the market. Others allocated resources into digital marketing (31.1%), automation technology (26.7%) and market data (19.3%). in events to garner business. were from the Northeast 16.3%

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Housing Market Mortgage Marketing Inventory 393

Appraisal Buzz

APRIL 11, 2024

But unlike housing markets of the past, this market isn’t being driven by low mortgage rates or low home prices – the current trickle of sales is coming mainly from people who are facing life events that require them to sell their homes and move.

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Housing Wire

APRIL 30, 2023

The spring housing market music is playing, and purchase application data and active listing inventory rose together last week. The other focus should be where mortgage rates go; only a little happened last week. However, even with that, the labor market, while getting softer, hasn’t broken yet.

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Housing Wire

MARCH 20, 2024

Those too young to remember the wild west of real estate believe that real estate commissions have always been evenly split between seller’s and buyer’s agents, with each receiving a portion of the sale price. This misconception obscures the reality that, historically, buyers lacked formal representation.

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Housing Wire

FEBRUARY 27, 2023

We created the weekly Housing Market Tracker because housing data has been so wild since 2020. The housing market madness persisted last week as inventory fell and higher mortgage rates took a bigger bite out of purchase application data. Weekly inventory change (Feb.

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Housing Wire

MAY 2, 2023

The housing market functions differently than other markets because it can be characterized as a heterogeneous, thinly traded, illiquid market. In other words, it’s a diverse market with a wide variety of different homes of varying ages and levels of repair, and sales happen very rarely. The result is fewer sales.

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Housing Wire

MARCH 13, 2023

Local housing markets is a HousingWire magazine feature spotlighting housing trends across the country. Tsai works with both homebuyers and tenants and while he says his business is typically split 50/50 between buyers and tenants, he has noticed a shift as mortgage rates have risen over the past six months.

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Housing Wire

JULY 2, 2023

Mortgage rates rose last week after the better-than-anticipated jobless claims data but even with higher rates, we also had a third week of positive purchase application data. We have often discussed that the housing market dynamics changed starting Nov. However, I need to put some context into what happened in 2022.

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Housing Wire

AUGUST 17, 2022

July saw whiplash mortgage rates and our audience followed economic news very closely. But we also saw some resiliency, with companies expanding loan products — especially cash out and home equity— and shoring up their mortgage servicing rights. The post July: Market Update for Housing Marketers appeared first on HousingWire.

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Housing Wire

JANUARY 25, 2023

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. Long-term mortgage rates responded by rising from 3.25% in early 2022 to over 7.25% in October 2022, more than doubling. The overall U.S. overnight.

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Housing Wire

APRIL 26, 2024

year over year in March, although growth in listings is expected to subside due to the lock-in effect of higher mortgage rates. HousingWire’s Mortgage Rates Center showed that the average 30-year conventional fixed rate was 7.56% on Friday — up from 6.83% at the start of the year. “My

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Housing Wire

JULY 31, 2023

Homeowners with a mortgage rate above 5% are nearly twice as likely to say that they plan to sell their home than those paying a rate below 5%, according to Zillow’s quarterly survey report. In fact, the share is even greater among mortgage holders who have a mortgage rate above 5%. However, demand remains strong.

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Housing Wire

SEPTEMBER 29, 2023

Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. In some markets, more than 50% of active listings have experienced a price cut, according to Altos Research. According to the brokerage, 6.5%

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Housing Wire

MAY 11, 2024

Mortgage rates and the bond market have fallen a bit recently and the spreads between the 10-year yield and 30-year mortgage rate have improved over last year’s levels. In the past two years, demand has always picked up whenever mortgage rates have moved lower with some duration.

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