Housing Wire

MARCH 28, 2022

Due to this reality, I have downgraded the housing market from unhealthy housing to a savagely unhealthy housing market. Housing construction will be impacted if the monthly supply for new homes breaks above 6.5 To downgrade it to a savagely unhealthy housing market caught some people by surprise.

Housing Market 334

Housing Market Marketing Supply Chain Inventory 334

Housing Wire

SEPTEMBER 26, 2023

. “This is about the same rate of price growth that occurred during the 2002 through 2006 period when subprime lending drove exuberant housing demand. “But that is where the similarities end.

Inventory 447

Inventory Housing Market Lending Buyers 447

Housing Wire

AUGUST 21, 2020

Let’s just say this is the final nail in the coffin for the housing bear troll camps that were so sure that this time, housing would finally crash. COVID didn’t get the housing market, but it did pull a fast one on those pesky bears. We saw hints of a flourishing housing market prior to the COVID crisis.

Housing Market 544

Housing Market Mortgage Buyers Marketing 544

Housing Wire

JANUARY 20, 2023

housing market , we just experienced an event that most people never thought could happen. From NAR : “December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates ,” said NAR Chief Economist Lawrence Yun. The days on market were too low.

Inventory 540

Inventory Housing Market New Listings Marketing 540

Housing Wire

MAY 9, 2022

housing market follow Canada? In short, the answer is no, we won’t have the type of home-price velocity that Canada has experienced because our housing market is more diverse than theirs. housing market is more tied to mortgage buyers. from 2002-to 2005, which led to forced credit selling.

Buyers 529

Buyers Housing Market Mortgage Marketing 529

Housing Wire

SEPTEMBER 22, 2022

The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . Since the summer of 2020, I have talked about what could change the housing market, which was a 10-year yield above 1.94%, which means rates over 4%.

Inventory 451

Inventory Housing Market New Listings Mortgage 451

Housing Wire

NOVEMBER 9, 2022

However, the housing market did run into one problem in 2020. Inventory levels broke to all-time lows and thus created massive housing inflation quickly, which broke my model. I knew housing would be OK as long as home prices only grew at 23% over five years — 4.6% This means less demand for housing.

New Listings 485

New Listings Inventory Housing Market Sellers 485

Housing Wire

APRIL 24, 2023

In addition, some white neighborhoods had zoning laws that legally banned non-white buyers from owning homes in those neighborhoods. million new minority homeowners when the president launched the Blueprint for the American Dream in 2002. This means that the most likely buyer for many of these new retirees will be a minority family.

Legal 344

Legal Housing Market Government Buyers 344

Housing Wire

OCTOBER 20, 2023

No buyer must use a real estate agent — ever. A meaningful percentage of buyers did not hire a real estate agent when they bought their last home. RealTrends + Harris Insights ‘ studies from 2002, 2005, 2006, 2011, 2014, and 2019 all show that consumers know that commissions are negotiable.

Real Estate Agent 425

Real Estate Agent Real Estate Brokerage Agents 425

Housing Wire

AUGUST 30, 2022

While the growth rate is cooling monthly, we are still in a savagely unhhealthy housing market trying to get national inventory levels back to pre-COVID-19 levels. However, we haven’t had a credit sales boom like the one we saw from 2002-2005. Case in point, purchase application data is already below 2008 levels today.

Inventory 383

Inventory New Listings Law Housing Market 383

Housing Wire

OCTOBER 27, 2022

“The 30-year fixed-rate mortgage broke 7% for the first time since April 2002, leading to greater stagnation in the housing market,” Sam Khater, Freddie Mac’s chief economist, said in a statement. This translates to a whopping $1,000 increase in the typical home payment in just the last year,” Jones said in a statement. . “I

Mortgage 368

Mortgage Loan Officers Clients Housing Market 368

Housing Wire

DECEMBER 29, 2022

As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. A few months ago, I was asked to go on CNBC and talk about why I call this a housing recession and why this year reminds me a lot of 2018, but much worse on the four items above.

Housing Market 545

Housing Market Marketing Inventory Sellers 545

Appraisal Buzz

MAY 17, 2021

Between 2002-2005 in many markets, the real estate market was scorching, much like it is today. Prices were escalating quickly, and buyers were purchasing in a frenzy for fear of being left behind and not being able to get their foot on the property ladder. This is no different than ignoring declining trends.

Appraisal 418

Appraisal Clients Real Estate Sellers 418

Housing Wire

APRIL 15, 2022

We’ve all been wondering what 5% plus mortgage rates would do to the hot housing market, and now we’ve got that and a bag of chips. As a result, I’ve been rooting for mortgage rates to rise to create a balancing impact on this housing market. Have higher rates worked? Some data to consider: 1.

Housing Market 497

Housing Market Marketing Mortgage Inventory 497

Housing Wire

APRIL 8, 2022

One of the reasons that I moved into the “team higher mortgage rate” camp is that what I saw in January, February, and March of this year was so unhealthy that I labeled the housing market savagely unhealthy. million — once that happens, I can take the unhealthy label off the housing market.

Housing Market 395

Housing Market Marketing Inventory Lending 395

Will Springer Realtor

OCTOBER 11, 2022

Seriously though, there must be a ceiling to rising rates that have all but extinguished a robust housing market. We are now seeing “7s” in front of some rates to new mortgage consumers – a figure not seen since April 2002 – causing applications for new loans to hit a 25-year low this month. ( TREATING YOURSELF EVERY DAY.

Housing Market 36

Housing Market Marketing Buyers Real Estate 36

Housing Wire

DECEMBER 5, 2022

I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. In many ways it was similar to today, with one exception: When I started, I hadn’t been spoiled by a housing market like the one in 2020 and 2021. economy, especially the mortgage and housing sector.

Housing Market 515

Housing Market Marketing Supply Chain Mortgage 515

Housing Wire

SEPTEMBER 22, 2020

housing market and compare those to where we are today — in the middle of one of the most epic years in our country’s history, due to COVID-19. No doubt about it, the COVID crisis has taken some juice out of the 2020 housing market. The February housing data, pre-COVID, was juicy indeed. Context is key!

Housing Market 542

Housing Market Marketing Construction Buyers 542

Housing Wire

JULY 19, 2022

The June housing starts data beat estimates with positive revisions, however, this doesn’t change the housing market recession call that I made last month. The housing completion data has been the most frustrating data line we have dealt with for years. One might even say this housing market is still savagely unhealthy.

Housing Market 517

Housing Market Marketing Construction Real Estate 517

Housing Wire

DECEMBER 20, 2022

Traditionally, housing starts, permits, and completions would move together, like what we saw in 2002-2005. In the chart below you can see more evidence of the housing recession; permits are falling as expected with demand getting weaker. From 2002-2005 it was a steady rise to the top of the housing bubble, and then it burst.

Housing Market 410

Housing Market Marketing Construction Supply Chain 410

Will Springer Realtor

NOVEMBER 9, 2022

The housing market in and around King County was moving along swimmingly at the start of 2022, with homes selling briskly and buyers taking advantage of interest rates in the 3s. and jump in mortgage rates of 4 percentage points has created a housing market belly flop. They’re also down 19% in Seattle and 4.0%

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New Listings Housing Market Inventory Buyers 36

Housing Wire

MARCH 23, 2022

We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housing market was last year — and it got a lot worse this year — it’s a blessing that was much needed. This sector on an apples-to-apples basis is more expensive than the existing home sales market. percent (±11.9

Mortgage 466

Mortgage Inventory Housing Market Construction 466

Housing Wire

MAY 26, 2022

It’s an excellent time to discuss housing inventory. The housing market shifted in March of this year. As the 10-year yield broke above 1.94% and mortgage rates rose, we saw the impact on housing data. Yes, crazy to think, but this is a survey trend data line, and the housing market was in free-fall at that time.

Inventory 511

Inventory Housing Market Construction Marketing 511

Housing Wire

MARCH 23, 2023

However, with active listings now near all-time lows, the builders’ new homes still have more value in the housing market than what we saw in previous decades. They can cut prices, pay down mortgage rates for their buyers, and do what they need to to make it work for them to move their products.

Inventory 541

Inventory Housing Market Construction Marketing 541

Housing Wire

DECEMBER 22, 2020

housing market has outperformed expectations, I expected these upward trends to moderate. Because housing demand is at pre-cycle highs, we can infer home prices are not an issue for most buyers. This is my biggest concern for the market going forward. Today, the National Association of Realtors reported a 2.5%

Housing Market 545

Housing Market Buyers Realtors Marketing 545

Housing Wire

OCTOBER 11, 2022

There’s a showdown at the housing market corral between homebuyers and sellers. When I came up with the “ savagely unhealthy housing market ” label in February of this year, it was based on the premise that the housing inflation story that we have had to deal with since 2020 was a historical event.

Sellers 501

Sellers Inventory Housing Market New Listings 501

Housing Wire

DECEMBER 23, 2022

The truth here that nobody wants to talk about is that we didn’t have a massive sales credit boom in housing from 2020-2021 like we saw from 2002-2005. That would reverse the problem the housing market has had selling homes with mortgage rates above 7%. percent (±22.7 percent (±13.0

Construction 356

Construction Housing Market Mortgage Sellers 356

Housing Wire

DECEMBER 22, 2021

Then everyone went crazy on investors and iBuyers , suggesting that these people were holding up the entire housing market. I understand that grifters have to keep the grift going, but not even the Joker would say that the housing market lives off investors and not mortgage buyers.

Inventory 482

Inventory Housing Market Investors Marketing 482

Housing Wire

JUNE 16, 2022

Housing permits aren’t collapsing by any means, but the permits data is backward-looking. As rates rise, this will impact the builders more as they try to find buyers for current homes in cancellation. From Census: Housing Starts Privately?owned owned housing starts in May were at a seasonally adjusted annual rate of 1,549,000.

Housing Market 545

Housing Market Buyers Mortgage Construction 545

Housing Wire

MARCH 17, 2022

We had more housing starts during the bubble years because from 2002 to 2005 that demand curve was higher, but it was facilitated by unhealthy credit growth. The homebuyers of new homes today are very solid, but since we don’t have a credit boom in housing, housing starts will move up slowly.

Construction 456

Construction Housing Market Inventory Buyers 456

Housing Wire

MAY 18, 2022

However, the sting of higher mortgage rates is hitting the single-family construction data, and the real story is that the housing completion data, which has been bad for a long time, is still terrible. We simply cannot finish homes in America promptly, and now that mortgage rates are over 5%, some buyers won’t be able to purchase a home.

Mortgage 464

Mortgage Construction Contracts Housing Market 464

Housing Wire

APRIL 27, 2022

Housing data should cool off, and we are getting into the period where some forward-looking data reflects that. The new home sales market doesn’t have a 28% cash-buyer profile as we saw in the last existing home sales report. From Census: The median sales price of new houses sold in March 2022 was $436,700.

Construction 348

Construction Buyers Housing Market Inventory 348

Housing Wire

DECEMBER 20, 2021

Even in the extreme conditions of COVID-19, my general premise on housing economics predicted that the two variables with the most influence — demographics and mortgage rates — would hold up the housing market. Also, the market we have today doesn’t look like the credit boom we saw from 2002-2005. The forecast.

Housing Market 543

Housing Market Inventory Mortgage Marketing 543

Appraisal Today

NOVEMBER 4, 2022

Keep them up to date in every step of the report so that they can keep the Lender (and the Buyer/Seller/Realtor/Closing Attorneys when applicable) all in the loop on the progress of the report. Buyer-Borrower Remorse. Essentially, the cases are situations of “buyer-borrower remorse.” Have a very responsive credo.

Reconsideration of Value 52

Reconsideration of Value Appraisal Inspection Advertising 52

Housing Wire

APRIL 27, 2022

The loan profile of buyers during the post-2010 expansion is excellent, so when the next job loss recession happens, we won’t lose as many homeowners (compared to what occurred after the Great Recession). housing market like these bearish Americans and foreign citizens were screaming about in 2020 and 2021.

Inventory 353

Inventory Housing Market Legal Mortgage 353

Housing Wire

AUGUST 23, 2022

The housing market is in a recession, something that the homebuilders and the National Association of Realtors now agree with me on, as this recent CNBC clip shows. Over the years, I have tried to emphasize that the housing market in the U.S. can’t have a credit sales boom like we saw from 2002-2005. This is 12.6

Construction 370

Construction Housing Market Sellers Marketing 370

Will Springer Realtor

DECEMBER 8, 2021

GREATER BUYING POWER Buyers who are struggling to purchase a home in this frenzied housing market will receive a bit of a lifeline in 2022. For example, a mortgage-approved buyer will be able to purchase a $938,000 single-family home (or possibly townhome or condo) with 5% down and keep within the new threshold.

Sellers 36

Sellers Marketing Supply Chain Construction 36