Housing Wire

MARCH 17, 2022

Census Bureau released their construction report for February, showing a positive trend in housing construction data with a lovely print in housing permits at 1,859,000 and housing starts at 1,769,000. Of course, that’s until you look at the housing completion data, which hasn’t gone anywhere in years.

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Construction Housing Market Inventory Buyers 440

Housing Wire

JANUARY 9, 2023

One slice of the single-family home market that has gained traction over the past year in a topsy-turvy housing landscape is the build-for-rent sector — or BFR. While the market share of [single-family] BFR homes is small, it has clearly been trending higher,” the NAHB report continues. “As Riding a cresting wave.

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Housing Market Marketing Construction Development 544

Housing Wire

JANUARY 19, 2024

Fannie Mae has a rosy outlook for mortgage rates. The government sponsored enterprise is projecting that rates will drop below 6% by the end of 2024, which in turn will boost refi volumes and help thaw the existing home sales market. Q4/Q4 contraction of real gross domestic product (GDP). million in Q4 2023. trillion in 2023.

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Mortgage Contracts Construction Government 540

Housing Wire

MARCH 6, 2024

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday.

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Mortgage Real Estate Inventory Construction 346

Housing Wire

MAY 22, 2023

Housing demand has shifted more toward the new home market, Fannie Mae ’s Economic and Strategic Research (ESR) Group noted in its May economic outlook. “As such, housing demand has shifted further toward the new home market, bolstering builder optimism and the ESR Group’s single-family starts forecast,” the group said.

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Construction Inventory Government Contracts 379

Housing Wire

MAY 18, 2022

Census Bureau released their new residential construction report for April, showing a miss on the estimate and a negative revisions data line, which I believe is lagging behind the current market reality. Housing starts came in at 1.724 million , and housing permits came in at 1.819 million — both are still very healthy numbers.

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Mortgage Construction Contracts Housing Market 448

Housing Wire

APRIL 28, 2022

.” Lawrence Yun, chief economist for the NAR , said the dip in contract signings suggests “multiple offers will soon dissipate and be replaced by much calmer and normalized market conditions.”. He also expects higher mortgage rates to remain a key factor affecting home sales. The average mortgage rate should jump to 5.4%

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Housing Market Marketing Contracts Mortgage 326

Housing Wire

JANUARY 3, 2023

“Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates , which climbed at one of the fastest paces on record this year, drastically cut into the number of contract signings to buy a home,” Lawrence Yun, NAR’s chief economist, said in a statement. On a month over month basis, all four of the major U.S.

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Contracts Housing Market Realtors Construction 481

Housing Wire

MAY 31, 2022

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. Chicago’s housing market started out hot in 2022. Department of Agriculture (USDA).

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Mortgage Construction Lending Real Estate 382

Housing Wire

MAY 28, 2024

It’s the end of May and unsold inventory on the market is increasing across the U.S. Every state in the country has more homes on the market now than a year ago and, in many places, new construction is being completed and added to inventory, so it’s not just resale inventory that’s growing. Higher rates create more inventory.

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Inventory New Listings Contracts Sellers 511

Housing Wire

JUNE 17, 2021

The average 30-year fixed-rate mortgage fell three basis points from the week prior to 2.93%, according to data released Thursday by Freddie Mac ‘s PMMS. This marks the first time in over two months mortgage rates have fluctuated outside a five basis point range above or below 3%.

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Mortgage Housing Market Contracts Construction 442

Housing Wire

MAY 24, 2023

debt ceiling impasse and the resilient economy led mortgage rates to climb to the highest level in two months. The latest MBA data published on Wednesday morning shows that mortgage loan applications decreased 4.6% retail residential mortgage applications. Last week, the U.S. debt ceiling to avoid a default on June 1.

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Mortgage Inventory Retail Housing Market 378

Housing Wire

DECEMBER 20, 2022

Lower mortgage rates helped to increase borrowers’ demand for home loans last week, which in turn drummed up optimism for the mortgage industry at the end of 2022. Economists believe that if the trend continues, the market will be able to improve in the second half of 2023. . ” Uptick in applications . .

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Mortgage Housing Market Retail Contracts 403

Housing Wire

JUNE 23, 2021

For the second week in a row, mortgage applications increased — this time, up 2.1% for the week ending June 18, 2021, per the latest report from the Mortgage Bankers Association. The 30-year fixed mortgage rate also rose to 3.18% — the highest level in a month, according to the MBA. of total mortgage applications from 61.7%

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Mortgage Contracts Construction Government 317

Housing Wire

FEBRUARY 24, 2023

January marked a surge of people signing contracts to buy new homes. The increase in contract signings can be attributed to a decline in mortgage rates in January after a run-up in rates in October and November ,” Holden Lewis, NerdWallet ’s home and mortgage expert, said in a statement. months in December.

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Construction Contracts Buyers Development 423

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.

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Mortgage Housing Market Buyers Contracts 346

Housing Wire

MARCH 16, 2023

How is today’s housing starts data , which beat expectations, good for mortgage rates ? What we see in this latest starts report is encouraging, as a record number of 5-units are still in construction and anything that gets finished is positive against inflation. Like most recessions, when demand falls, so does production.

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Mortgage Construction Marketing Contracts 491

Housing Wire

OCTOBER 26, 2023

Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” Lawrence Yun, NAR chief economist said in a statement. For those new construction units, the national median new home price is projected to drop by 5.9% They project it to grow by another 19.4%

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Inventory Contracts Housing Market Realtors 355

Housing Wire

MARCH 9, 2021

Mortgage credit is still the tightest it has been in more than six years, but an unwavering February may be the calm before the purchase storm as lenders prepare for a revitalized economy, the Mortgage Bankers Association said in a report on Tuesday. The group’s Mortgage Credit Availability Index remained unchanged at 124.6

Mortgage 471

Mortgage Government Buyers Contracts 471

Housing Wire

JUNE 29, 2023

An index of 100 is equal to the level of contract activity in 2001. Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing,” Lawrence Yun , the chief economist of NAR, said in a statement. annual drop recorded in April.

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Contracts Inventory Housing Market Realtors 310

Housing Wire

MARCH 29, 2023

Pending home sales rose for the third month in a row in February, but at 0.8%, the uptick over January was less than is typically seen in the run-up to the spring housing market. Month-over-month, contract signings increased in three U.S. Overall, contract signings were down 21.1% In-contract deals rose 0.7%

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Contracts Realtors Home Value Housing Market 282

Housing Wire

FEBRUARY 26, 2024

It’s not the safest business model either because builders take a contract to buy a home and then, from start to finish, hope that mortgage rates don’t jump on the buyer by the time the home is ready. In fact, even during the years of the housing bubble crash, this number never reached 200,000. million new homes being sold.

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Construction Business Contracts Marketing 522

Housing Wire

DECEMBER 4, 2020

CoreLogic released its final three-year housing and mortgage outlook report for the year on Thursday, and if numbers hold up, the data company predicts 2021 will maintain its unprecedented sales and record low mortgage rates as the economy continues to recover. On average, CoreLogic predicts mortgage rates to sit closer to 3.2%

Mortgage 506

Mortgage Contracts Construction Inventory 506

Housing Wire

SEPTEMBER 12, 2023

So, the author tried to use new construction prices from back in April to describe the whole U.S. housing market now. That’s frankly surprising given how cold the housing market froze last fall. New contracts dipped as affordability is out of reach for so many. This week continues that trend.

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Contracts Inventory Housing Market Buyers 363

Housing Wire

JANUARY 19, 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 why the Altos Research numbers we cite are always smaller than the NAR numbers, which accounts for all home types and those in contract.

Housing Market 405

Housing Market Inventory Contracts Marketing 405

Housing Wire

JANUARY 19, 2023

As the housing market slowed from its frenzied peak in 2022 due to soaring mortgage rates, homebuilders pulled back. An estimated of 1.533 million housing units were started in 2022, down 3.0% Department of Housing and Urban Development. Builders still have a large backlog of single-family homes under construction.

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Inventory Construction Development Housing Market 379

Housing Wire

FEBRUARY 16, 2023

They have less competition as they are working from low sales levels in today’s housing market. The truth is that if mortgage rates fell below 5.875% and kept going lower, everyone’s housing predictions would need to be revised this year because the builders can sell their homes with lower mortgage rates.

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Construction Housing Market Inventory Mortgage 470

Housing Wire

MAY 23, 2023

housing market. And with total active house listings in America near all-time lows, that is all we have for completed units for sale. Last year, sale levels were meager and once mortgage rates fell and the builders were buying down rates to get more homes sold, the data stabilized and moved higher slowly.

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Inventory Housing Market Construction Marketing 516

Housing Wire

APRIL 29, 2021

The National Association of Realtors released encouraging news Thursday about the future of the housing market. The trade group reported that pending home sales – that is homes where a buyer signed a contract, but the sale has not closed – rose 1.9 % index points to 111.3 New residential construction building permits in the U.S.

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Contracts Inventory Construction Realtors 414

Housing Wire

OCTOBER 26, 2022

This doesn’t mean sales can’t fall further from here, especially with rising mortgage rates. However, it shows that the builders are better at managing their supply and demand imbalances compared to the housing bubble years. We saw some stabilization in the data when mortgage rates fell from 6.25% to 5%. When supply is 4.4

Construction 437

Construction Inventory Contracts Buyers 437

Housing Wire

SEPTEMBER 14, 2022

The economic standoff between rising inflation and rising interest rates continues to weaken the housing market nationwide, with home sales falling across all 12 Federal Reserve districts, according to the Fed’s latest Beige Book report. The Fed’s Federal Open Market Committee is slated to meet July 26-27. “A

Construction 369

Construction Real Estate Inventory Supply Chain 369

Housing Wire

NOVEMBER 2, 2022

And with Fed rates expected to rise even further, industry experts and economists don’t expect mortgage rates to stabilize for at least another year. Mortgage rates , which are currently near a 22-year high, declined slightly from last week ahead of the Fed’s sixth rate hike announcement. Tables have turned for some sellers.

Mortgage 388

Mortgage Sellers Contracts Buyers 388

Housing Wire

MAY 13, 2024

A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. historical dataset. that use trended credit bureau data.

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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. Instead, expect a bumpy road on the way to a more normal housing market in 2023.” in 2023 and 5.4%

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Housing Market Realtors Contracts Buyers 393

Housing Wire

AUGUST 23, 2022

Tuesday’s new home sales report missed expectations and had negative revisions, which isn’t surprising given this sector of our economy simply can’t handle higher mortgage rates. family houses in July 2022 were at a seasonally adjusted annual rate of 511,000, according to estimates released jointly today by the U.S.

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Construction Housing Market Sellers Marketing 369

Housing Wire

MAY 5, 2022

Mortgage rates are increasing and demand is beginning to level out. The residential real estate market is shifting, creating uncharted territory for lenders who’ve relied on a housing boom and refinancing to keep them in business. The days of 45-60 day processing times in mortgage lending will simply not satisfy, nor survive.

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Mortgage Buyers Technology Lending 348

Housing Wire

OCTOBER 12, 2023

What is happening in the housing market ? Both home prices and mortgage rates continue to rise. If mortgage rates pass 8%, housing market activity will see a contraction, Sturtevant said. “Overall, shelter costs were up 7.2% Rents of primary residences were up 7.4%.”

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Government Housing Market Contracts Insurance 321