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Pending home sales fall 38% in November

Housing Wire

“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.

Contracts 479
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The evolution of the more productive real estate agent 

Housing Wire

Bonnie Williamson never intended to be a real estate agent. As more and more people enter the real estate industry – membership at the National Association of Realtors has ballooned to a record 1.6 Just how we do contracts now is so much faster. Real estate agents are busier than ever.

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Buyers are getting cold feet as mortgage rates exceed 7%: Redfin

Housing Wire

of homes that went under contract that month, according to a new report from Redfin. Rates last month surged to 7.23%—the highest since 2001 – sending the typical homebuyer’s monthly payment up significantly from last year. They’re getting cold feet,” said Jaime Moore, a Redfin Premier real estate agent in Reno, Nevada.

Buyers 387
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Pending home sales are down 31% from last year

Housing Wire

An index of 100 is equal to the level of contract activity in 2001. The Federal Reserve has had to drastically raise interest rates to quell inflation, which has resulted in far fewer buyers and even fewer sellers.”. regions recorded year-over-year decreases in contract signings. All four major U.S. to a reading of 62.7.

Contracts 507
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Some mortgage companies expanding despite challenges

Housing Wire

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. Since its establishment in 2008, the firm said it has bought and sold about $12 billion in residential real estate.

Mortgage 382
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2023 Maine Year in Review

Lamacchia Realty

2023 marked a significant chapter in real estate history, on the state level in Maine as well as nationally. This report analyzes the sales figures, average prices, the number of active listings, and listings under contract for both 2023 and 2022. Furthermore, it delves into predictions for the real estate landscape in 2024.

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Houston Real Estate Market Forecast: Current Data & 2022 Predictions

Houston Properties

Houston Real Estate Market Forecast: Current Data & 2022 Predictions. Review current Houston real estate data & lessons from past hurricanes and trends. For the broad Houston real estate market, all major indicators point to growth during the year. Why We're Fearful: Buyer & Seller Mistakes.