Housing Wire

NOVEMBER 10, 2022

David Meyer is thankful that his business is still plugging along during the wildest housing market in decades. With mortgage rates hovering around 7% and home prices still at record highs, buyers across America are calling off the house hunt and finding multifamily apartments. . It could be a while.

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Construction Supply Chain Buyers Development 406

Housing Wire

JANUARY 26, 2024

month over month in December, according to the newest data from the National Association of Realtors (NAR). 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. Pending home sales rose 8.3%

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Contracts Housing Market Construction Inventory 445

Housing Wire

FEBRUARY 13, 2024

We are very bullish on Alabama and its long-term prospects,” Jeremy Walker, CEO of the Alabama Realtors Association , said. “We Walker said the prospect of lower mortgage rates is prompting many agents to feel more positive about the 2024 housing market. New construction is backed up,” she said.

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Construction Supply Chain Inventory Agents 353

Housing Wire

NOVEMBER 18, 2020

Real estate agents across the country have made it clear – low inventory and low mortgage rates have kept them busy throughout the pandemic, especially in typical vacation destinations. That trend is holding true for the housing market in Hawaii, located about 2,500 miles west of the mainland. They were just here last week.”.

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Housing Market Marketing Real Estate Agent Agents 457

Housing Wire

DECEMBER 10, 2020

The Des Moines housing market has had a record-setting year for home sales, which local Realtors credit to low mortgage rates, the work from home phenomenon and Des Moines’ affordable lifestyle. Housing inventory in the Des Moines housing market is tight. Now it’s under $300,000.”.

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Housing Market Marketing Realty Realtors 428

Housing Wire

NOVEMBER 30, 2023

As mortgage rates edged near multi-decade highs, pending home sales declined 1.5% in October on a month-over-month basis, according to data released Thursday by the National Association of Realtors (NAR). Meanwhile, new home sales posted a better performance as homebuyers pivoted to new construction amid waning existing home supply.

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Housing Market Inventory Realtors Construction 444

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

APRIL 28, 2022

For the fifth consecutive month, pending home sales declined in March from February, down 1.2%, signaling a potential return to “much calmer” conditions, according to the National Association of Realtors. 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

FEBRUARY 3, 2022

Thanks to a boom in the housing market and a historic refinance market, the past two years have been a favorable period for the mortgage market. In the process, a historic $9 trillion of mortgage loans were closed over two years. What are the drivers of housing demand in 2022? 2022 Forecast series.

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Housing Market Marketing Supply Chain Mortgage 403

Housing Wire

DECEMBER 29, 2023

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. Let’s look at the new construction forecast for 2024. The business appears durable, too. million and 7.3

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Construction Supply Chain Inventory Housing Market 427

Housing Wire

MARCH 25, 2021

The broader economy showed signs of recovery last week, pushing the average mortgage rate for a 30-year fixed loan up eight basis points to 3.17%, according to Freddie Mac ’s Primary Mortgage Market Survey. million, according to the National Association of Realtors. That’s a full 5% drop. month-over-month.

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Mortgage Construction Realtors Inventory 539

Housing Wire

APRIL 18, 2024

Existing home sales slumped last month under the weight of elevated mortgage rates. million in February, according to a report released Thursday by the National Association of Realtors (NAR). There are nearly six million more jobs now compared to pre-COVID highs, which suggests more aspiring home buyers exist in the market.”

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Inventory Real Estate Agent Sellers Buyers 339

Housing Wire

MAY 27, 2021

Mortgage rates fluctuated again last week, down 5 basis points to 2.95% after managing to pop back up to 3% the week prior, according to Thursday data from Freddie Mac ‘s PMMS. Mortgage rates have been hovering around 3% for over a month now, as macro economic factors left the bond market hesitant over the global recovery.

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Mortgage Inventory Housing Market Construction 457

Housing Wire

JANUARY 3, 2023

according to data released last Wednesday by the National Association of Realtors. Falling home sales and construction have hurt broader economic activity.”. Yet, mortgage applications point to a thawing, but still cold, housing market as mortgage rates come down.”.

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Contracts Housing Market Realtors Construction 481

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% We do not see new construction returning in a meaningful way any time soon. Will Savage, an LO at PMC Mortgage.

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Mortgage Loan Officers Buyers Inventory 400

Housing Wire

SEPTEMBER 23, 2021

The average 30-year-fixed mortgage rose, ever so slightly, to 2.88% for the week ending Sept. Mortgage rates have been roughly flat for months now. financial markets,” said Sam Khater, Freddie Mac’s chief economist. “The financial markets,” said Sam Khater, Freddie Mac’s chief economist. for the past two weeks.

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Mortgage Inventory Construction Technology 441

Housing Wire

NOVEMBER 19, 2020

mortgage rate for a 30-year fixed loan fell this week to 2.72%, Freddie Mac said in a report on Thursday – the lowest rate in the survey’s near 50-year history. The average fixed rate for a 15-year mortgage also fell by 6 basis points to 2.28%. Low mortgage rates fuel the demand for valuation and settlement services.

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Mortgage Construction Valuation Buyers 546

Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). “The bond market is forcing the Fed to pivot.”

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Real Estate Inventory Sellers Realtors 450

Housing Wire

JUNE 3, 2021

Fickle mortgage rates rose once again last week, this time four basis points to an average of 2.99%, according to Thursday data from Freddie Mac ‘s PMMS. However, despite fluctuating sub-3% mortgage rates, borrowers are still competing in a supply strained and overheated market. Even though rates have been below 3.2%

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Mortgage Inventory Construction Realtors 310

Housing Wire

MARCH 8, 2024

In February, employment continued to trend up in construction, adding 23,000 jobs month over month. The jobs report contains two conflicting implications for the housing market, according to Sturtevant. Lower rates this spring could give housing market demand a boost.” Job openings were essentially unchanged at 8.9

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Transportation Retail Housing Market Construction 412

Housing Wire

APRIL 14, 2023

This article is part of our 2023 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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Realtors Buyers Inventory Sellers 406

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. Slow home sales in 2023 were accompanied by higher mortgage rates , with the average rate on a 30-year fixed rate mortgage hitting a 23-year high in early November.

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Inventory Realtors Housing Market Construction 416

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). For those new construction units, the national median new home price is projected to drop by 5.9% Pending home sales ticked up 1.1% in September. increase in September.

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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). Instead, expect a bumpy road on the way to a more normal housing market in 2023.” After posting a 2.5% in 2023 and 5.4%

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Housing Market Realtors Contracts Buyers 393

Housing Wire

JUNE 29, 2023

After holding steady month over month in April , pending home sales were back down again in May, dropping 2.7%, according to data released Thursday by the National Association of Realtors (NAR). Yun, however, is optimistic about the impact increased housing starts and homebuilder confidence will eventually have on housing inventory. “It

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Contracts Inventory Housing Market Realtors 310

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. With mortgage rates nearly doubling from the start of 2022, the LO, who has more than 20 years of experience in the industry, says it’s painful to see deals simply disappear.

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Mortgage Loan Officers Inventory Retail 375

Housing Wire

AUGUST 10, 2023

The 30-year fixed mortgage rate continued its upward trajectory for the third consecutive week, rising to 6.96%, according to Freddie Mac. According to Lawrence Yun, chief economist and senior vice president of research at NAR , “mortgage rates are likely to be past their peak and on the way downward.” since May of this year, the 4.2

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Mortgage Real Estate Buyers Construction 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.

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Mortgage Sellers Contracts Buyers 388

Housing Wire

APRIL 29, 2021

The National Association of Realtors released encouraging news Thursday about the future of the housing market. Low inventory has been a constant problem, but more inventory will show up as new home construction intensifies in the coming months, as well as from a steady wind-down of the mortgage forbearance program,” Yun said.

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Contracts Inventory Construction Realtors 414

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

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). The trade association forecasts the 30-year fixed mortgage rate to close at 6.4% Meanwhile, housing starts are forecast drop 5.3%

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Construction Inventory Realtors Housing Market 339

Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. At least not in the foreseeable future, unless another pandemic would create favorable conditions for the housing market.

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Renovations Realtors Construction Mortgage 376

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

Housing Wire

APRIL 20, 2023

monthly increase in February , breaking a year long streak of declines, existing home sales were back down again in March, according to a report from the National Association of Realtors (NAR), released Thursday. It’s a unique housing market.” With mortgage rates remaining in the mid to low 6.0% from a month prior and 5.4%

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Inventory Housing Market Realtors Mortgage 343

Housing Wire

JULY 25, 2023

Credit: S&P Dow Jones Affordability pressures “This month’s index data tracks prices for March, April and May, a period during which mortgage rates spanned a 0.5 The 30-year mortgage rates dropped to as low as 6.3% in April, according to Mortgage News Daily. on Monday, according to HousingWire’s Mortgage Rates Center.

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Inventory Construction Buyers Mortgage 272

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. As of mid-March, Richards said the company had signed up more than 20 clients with an aggregate total of more than 5,000 mortgage originations.

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Loan Officers Clients Mortgage Construction 343

Housing Wire

DECEMBER 18, 2020

And it’s a trend that is only going to get worse, as real estate company Redfin reports that hot housing markets in major southern cities , including Austin, will become less affordable in 2021. I think there’s a lot of homebuyers that are really tempted by the fact that mortgage interest rates are so low.”.

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Realtors Inventory Housing Market Real Estate 441