Housing Wire
JUNE 30, 2021
Pending home sales reached its highest mark for the month of May since 2005, up 8% from the previous month of April as low inventory continues driving buyers to snatch up available real estate. “Buyers are still lining up a feverish pace,” Yun said. ” Contract signings on new homes increased 13.1%
Housing Wire
JULY 29, 2021
Though the desire for buyers to purchase a new home remains strong, skyrocketing prices are putting the dream out of reach for some buyers, economists in the housing industry said. An index of 100 is equal to the average level of contract activity during 2001, the first year examined. on the index in June, an 8.7% in June to 98.1,
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Housing Wire
JANUARY 20, 2023
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. This means we don’t have enough housing inventory available because with lending standards back to normal we can’t replicate the credit demand we saw in housing from 2002-2005.
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. We are seeing that as a profession again. How do we combat this?
Housing Wire
AUGUST 3, 2021
But relief for buyers could be coming in the next 12 months. gain by this time next year, as ongoing affordability challenges deter potential buyers — as well as an uptick in new for sale listings. An index of 100 is equal to the average level of contract activity during 2001, the first year examined. Home prices increased 2.3%
Appraisal Today
SEPTEMBER 22, 2023
A buyer gets a seller’s disclosure statement for that information. Values are so high that buyers are putting a lot of money down to lower the monthly payment as much as they can. I never had more than one assistant and no appraisers after that, and finally quit doing lender residential appraisals in 2005.
Lamacchia Realty
JUNE 21, 2022
Now, months later, with rates up nearly 100% from the start of the year- January mortgage rates were hovering in the low to mid 3’s and this week reached 6.28%- diminished buyer affordability is causing a big downshift in demand. Rising prices weren’t favorable but with historically low mortgage rates , they were still affordable for buyers.
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