Housing Wire

MAY 22, 2023

Existing home sales have been largely in line with the ESR Group’s recent forecast of further gradual declines throughout the year, which were expected due to affordability constraints and tight existing home sales inventory of existing homes for sale. Fannie Mae projected total originations for 2023 to be $1.65

Construction 379

Construction Inventory Government Contracts 379

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. So far, housing construction has done well during 2020-2022 considering the economic drama. Today, the U.S.

Construction 440

Construction Housing Market Inventory Buyers 440

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. On a year-over-year basis, pending sales were up 1.3%.

Contracts 445

Contracts Housing Market Construction Inventory 445

Housing Wire

SEPTEMBER 7, 2023

A slight cooling in mortgage rates wasn’t enough to keep mortgage applications from sinking to a 28-year low. Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.12% as of Sept. 7, down from last week ’s 7.18%.

Housing Market 400

Housing Market Mortgage Marketing Contracts 400

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. Furthermore, inventory remains tight, which hinders sales but keeps home prices elevated.” in 2023, to $430,800, and increase by 3.5%

Inventory 355

Inventory Contracts Housing Market Realtors 355

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.

Mortgage 378

Mortgage Inventory Retail Housing Market 378

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. So, the bar is still low if mortgage rates can come down and the builders can sell more homes. million new homes being sold.

Construction 522

Construction Business Contracts Marketing 522

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%

Mortgage 317

Mortgage Contracts Construction Government 317

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%.

Mortgage 442

Mortgage Housing Market Contracts Construction 442

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. New contracts dipped as affordability is out of reach for so many. Inventory is very low and just inching up now week over week late in the summer. This year, while mortgage rates are high, they aren’t climbing now.

Contracts 363

Contracts Inventory Housing Market Buyers 363

Housing Wire

OCTOBER 26, 2022

This doesn’t mean sales can’t fall further from here, especially with rising mortgage rates. We saw some stabilization in the data when mortgage rates fell from 6.25% to 5%. However, now we are dealing with a 7% mortgage rate. The builders will pull back on construction when the supply is 6.5 When supply is 4.4

Construction 437

Construction Inventory Contracts Buyers 437

Housing Wire

DECEMBER 1, 2022

“Higher interest rates further dented home sales, which declined at a moderate pace overall but fell steeply in some Districts,” the report states, noting that “residential construction slid further at a modest pace” and “home prices grew less rapidly or declined outright amid weak demand.”. million in 2023 from 5.67 trillion from $2.34

Housing Market 313

Housing Market Marketing Construction Inventory 313

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. The NAR’s Pending Home Sales Index fell to a reading of 76.5

Contracts 310

Contracts Inventory Housing Market Realtors 310

Housing Wire

APRIL 29, 2021

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 Though homes in contract are not always closed, the index figure is a strong indication that home sales will rebound in the coming months after an inventory-induced decline.

Contracts 414

Contracts Inventory Construction Realtors 414

Housing Wire

SEPTEMBER 14, 2022

Financial advisory firm Mortgage Capital Trading (MCT) notes that the strong inflation numbers released yesterday , September 13, make it likely that the Federal Reserve will be more aggressive in its next round of rate hikes. “A Philadelphia — Homebuilders reported that contract signings for new homes continued to fall modestly.

Construction 369

Construction Real Estate Inventory Supply Chain 369

Housing Wire

APRIL 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The lack of housing inventory is a major constraint to rising sales,” Lawrence Yun , NAR’s chief economist, said in a statement. In addition, NAR forecasts that mortgage rates will drop to 6.0% In the new construction sector , NAR predicts sales to increase 4.5%

Inventory 387

Inventory Realtors Contracts Construction 387

Housing Wire

MARCH 29, 2023

Month-over-month, contract signings increased in three U.S. Overall, contract signings were down 21.1% Homebuyers have been closely watching mortgage rates, which have been volatile during the first few months of the year,” said Lisa Sturtevant, chief economist for Bright MLS. In-contract deals rose 0.7%

Contracts 282

Contracts Realtors Home Value Housing Market 282

Housing Wire

MAY 23, 2023

Last year, while the Census Bureau was reporting the new home sales numbers and the builders were having high cancellation rates, the monthly sales report didn’t account for the cancellations of contracts. months and above, the builders will pull back on construction. The Inventory for homes completed is at 70,000 = 1.23

Inventory 516

Inventory Housing Market Construction Marketing 516

Housing Wire

MAY 10, 2023

You may have heard the good news: In recent weeks, several mortgage and real estate brokerage execs have exclaimed that we may have already reached the bottom of the market. For prospective home buyers and sellers, that could mean a gradual decline in mortgage rates , which would unlock inventory and—dare I say—sales activity.

Loan Officers 333

Loan Officers Marketing Inventory Real Estate Agent 333

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 23, 2024

With the coming together of interest rate drops, the persistent, continued low inventory levels and 2023 being recorded as the slowest year for U.S. Well into January, we are already seeing properties go under contract in the first weekend with multiple offers. Will we get more inventory? The strategy has changed for buyers.

Real Estate Agent 403

Real Estate Agent Real Estate Buyers Agents 403

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. Remember, with median sales prices and inventory, it’s very seasonal. However, remember, the dive in inventory is normal at this time of the year.

Housing Market 405

Housing Market Inventory Contracts Marketing 405

Housing Wire

FEBRUARY 16, 2023

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. This is why construction workers haven’t been laid off while other jobs in the housing market have been.

Construction 470

Construction Housing Market Inventory Mortgage 470

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

DECEMBER 7, 2020

The reasons for that are solid demographics and low mortgage rates , which will not change much in 2021. months, builders will halt the rate of growth for new construction plans as they did in 2018 and again for a brief period this year. For now, though, the low inventory means housing starts have legs to move higher.

Inventory 543

Inventory Construction Government Housing Market 543

Housing Wire

JULY 25, 2022

Housing demand weakened noticeably as growing concerns about affordability contributed to non-seasonal declines in sales, resulting in a slight increase in inventory and more moderate price appreciation,” states the Federal Reserve’s most recently released Beige Book report — based on data and reports current as of mid-July.

Housing Market 393

Housing Market Marketing Supply Chain Real Estate 393

Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The trade association forecasts the 30-year fixed mortgage rate to close at 6.4% With consumer price inflation calming close to the Federal Reserve’s desired conditions, mortgage rates look to have topped out,” Yun added. this year and then decline to 6.0%

Construction 339

Construction Inventory Realtors Housing Market 339

Housing Wire

FEBRUARY 21, 2023

The mortgage industry started 2023 with optimism due to an increase in housing activity. Fannie Mae expects home sales to remain subdued for the remainder of 2023, although recent mortgage application data came in stronger than expected. million units. While that expectation is up compared to the previous forecast of 4.52

Inventory 369

Inventory Mortgage Housing Market Contracts 369

Housing Wire

OCTOBER 26, 2022

Kelly Mangold of RCLCO Real Estate Consulting attributes August’s rise in new home sales to a dip in mortgage rates , but once rates started rising again in September, sales slowed. “As As mortgage rates approach 7.0% The slower sales pace meant that inventory was back up in September. from August and 17.6% months in August.

Inventory 288

Inventory Contracts Buyers Investors 288

Housing Wire

MAY 5, 2022

Mortgage rates are increasing and demand is beginning to level out. Now, these younger buyers are driving financial institutions to adapt to their expectations for more streamlined user experiences , accelerating digital transformations with new technology that will move the mortgage industry into a truly digital age. . A look forward.

Mortgage 348

Mortgage Buyers Technology Lending 348

Housing Wire

JULY 6, 2023

The purchase deal includes Truland’s homebuilding assets, which consist of approximately 263 lots, 155 homes in inventory, and 55 homes in the sales order backlog. The company also offers mortgage financing, title services , and insurance agency services through its subsidiaries. Horton family,” Donald R. In addition, D.R.

Contracts 365

Contracts Development Insurance Construction 365

Housing Wire

FEBRUARY 18, 2022

Homebuyers flocked to what little inventory existed in January, with existing-home sales rising 6.7% from December and mortgage rates shot up 30 basis points. Homes went under contract in just 19 days on average, down from 21 a year ago. Homes went under contract in just 19 days on average, down from 21 a year ago.

Supply Chain 404

Supply Chain Inventory Buyers Contracts 404

Housing Wire

FEBRUARY 25, 2021

And inventory shortages are the culprit. It’s no secret that low mortgage rates and societal shifts brought on by COVID-19 have collided to form a red-hot housing market. It’s no secret that low mortgage rates and societal shifts brought on by COVID-19 have collided to form a red-hot housing market. million in 2020.

Supply Chain 399

Supply Chain Inventory Housing Market Contracts 399

Housing Wire

NOVEMBER 7, 2023

One of the top concerns for homebuyers as well as agents right now is the historic lack of inventory. Change the search area, change the type of home or find an equally great school district to look in that has more inventory. Offer them solutions to get a better-than-average mortgage rate. Find them their dream home.

Clients 362

Clients Buyers Real Estate Agent Real Estate 362

Housing Wire

OCTOBER 18, 2021

As housing inventory remains low and buyers are continuing to face strong competition with one-third of homes going under contract within a week , many are becoming discouraged and have started looking for alternative options. Treasuries and mortgage-backed debt. NAHB attributes this increase to strong consumer demand for homes.

Supply Chain 519

Supply Chain Inventory Buyers Housing Market 519

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. Also, we had a supply spike in 2018, which caused builders to pause construction — and that was with rates only getting toward 5%.

Construction 369

Construction Housing Market Sellers Marketing 369