article thumbnail

Existing home sales data shows extent of housing inflation

Housing Wire

Today the National Association of Realtors reported that existing home sales fell once again to 4.80 From NAR Research : “Total existing-home sales notched a minor contraction of 0.4% However, it’s not the market of 2002-2011. from July to a seasonally adjusted annual rate of 4.80 million in August.”

Inventory 448
article thumbnail

Practical Tips for Working With AMCs

Appraisal Today

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. percent, but remained close to its highest since 2002,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. percent from 7.16

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Dave Stevens on understanding this housing market

Housing Wire

It created a massive demand for home purchases as consumers competed to win a sales contract and get a home with a low single digit interest rate. It means a massive contraction in demand for mortgages, tighter margins, corporate layoffs and “right-sizing,” and concerns about what the future may hold.

article thumbnail

A Guide to Houston’s Best Ranches & Farms On The Market

Houston Properties

The ultimate ranch and farm buyer guide from the number one Realtor in Houston! Houston’s best realtor, Houston Properties, will guide you in every step of this great venture. Work with the best Realtor in Houston to ensure that you’re purchasing a high-quality home at a favorable market value.

article thumbnail

The new home sales recession continues

Housing Wire

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. can’t have a credit sales boom like we saw from 2002-2005. months of supply in an orderly manner. This is 12.6 percent (±16.9 percent (±10.9 months and above.

article thumbnail

Data Collectors: Appraisers vs. Uber Drivers

Appraisal Today

Unlicensed Data Collectors By Jonathan Miller (13-minute video) Here’s a great take on the difference between Certified Appraisers vs. Unlicensed Data Collectors by Leigh Brown, President of the NC Association of REALTORS. In 2000 and 2002, Architectural Digest named him one of the top 100 architects in the United States.

article thumbnail

FED’S ACTIONS TAKE STEAM OUT OF HOUSING MARKET

Will Springer Realtor

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. ( That’s according to a survey of 1,002 Hispanic Americans by The National Association of Realtors®. >> may be the better million-dollar question.).