Lamacchia Realty

JUNE 21, 2022

In early March it was becoming clear that the market was changing from a frenzied post-pandemic scene to one where rising mortgage rates would slow it down and help inventory finally rise back up. That’s because fewer homes are being placed under contract. Price adjustments/decreases were up across the country in May. See chart below.

Housing Market 65

Housing Market Bracketing Marketing Sellers 65

Appraisal Today

JUNE 17, 2022

NOTE: Please scroll down to read the other topics in this long blog post on real estate market, USPAP and contracts, unusual homes, mortgage origination stats, etc. ==. USPAP and the Contract. Excerpt: But USPAP and the contract have a very unique relationship. Some appraisers do not like having a copy of the contract.

Appraisal 52

Appraisal Contracts Real Estate Mortgage 52

Housing Wire

AUGUST 23, 2022

can’t have a credit sales boom like we saw from 2002-2005. This means we won’t be working from record-breaking demand of high sales like we did at the peak of 2005. The builders are in a better position to manage their inventory glut than when they were working from a credit boom in 2005 that took new home sales up to 1.4

Construction 370

Construction Housing Market Sellers Marketing 370

Housing Wire

AUGUST 3, 2021

Home prices continue to increase as national inventory levels remain low heading into August. Bend, Oregon, with beautiful scenery, a bevy of craft breweries and microscopic home inventory, saw the second-highest home price increase in the country year-over-year, at 35.4%. But relief for buyers could be coming in the next 12 months.

Buyers 498

Buyers Inventory Realtors Contracts 498

Housing Wire

FEBRUARY 16, 2023

Last year we had monthly existing home sales collapse back to 2007 levels, except this time around, NAR has total inventory at 970,000 and not over 4 million. If the homebuilders and homebuyers knew rates would hit 7% in 2022, many would not have taken those contracts they’re canceling now.

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Construction Housing Market Inventory Mortgage 519

Lamacchia Realty

JANUARY 25, 2024

It kept inventory down, which propped up prices, but sales are down nearly 22%, and buyers are hungry. A year later, still no crash, which had more to do with the decrease in inventory than the decrease in sales. The number of homes placed under contract (pending), decreased by 17.7% A lot of it had to do with anemic inventory.

Inventory 69

Inventory Sellers Contracts Buyers 69

Housing Wire

MARCH 17, 2022

In fact, considering the drop in builders’ confidence, now we have to watch for whether some people will cancel their building contracts because rates have jumped so much while they’ve been waiting for their new home to be built. The February rate for units in buildings with five units or more was 501,000. Housing completions.

Construction 457

Construction Housing Market Inventory Buyers 457

Lamacchia Realty

MARCH 26, 2024

As you can see in the chart below, Florida has the highest shift in rising inventory over the past twelve months. Source Condo inventory has been rising more than single families as sales have been decreasing since 2023. Source Inventory rises when more sellers are listing than buyers are buying.

Bracketing 60

Bracketing HOA Sellers Buyers 60

Lamacchia Realty

FEBRUARY 22, 2022

The 2021 Massachusetts Year in Review Housing Report breaks down average prices, sales, inventory, new active listings, and pending sales for 2021 compared to 2020 and illustrates what that means for the current market. Below is a graph that illustrates home sales per year since 2005. Inventory of Homes for Sale. to 9,796.

Inventory 51

Inventory Sellers Buyers Real Estate 51

Lamacchia Realty

APRIL 15, 2022

Sellers kept listing, albeit, at a much slower pace, and buyers were buying at the highest rate in over 15 years, absorbing inventory faster than ever. Low rates, even lower inventory, maxed out demand, and anemic supply remained the name of the game for well over a year until this past winter, when it truly plunged to incredible lows.

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Marketing Sellers Buyers Inventory 66

Lamacchia Realty

JANUARY 27, 2023

in Massachusetts The 2022 Massachusetts Year in Review Housing Report breaks down average prices, sales, inventory, new active listings, and pending sales for 2022 compared to 2021 and illustrates what that means for the current market. Market adjustments, global pandemics, and anemic inventory are not for the faint of heart.

Inventory 63

Inventory Buyers Real Estate Sellers 63

Lamacchia Realty

DECEMBER 28, 2021

The inventory of homes for sale and the number of homes being listed for sale were not nearly enough to satisfy the buyer demand. Even though the inventory of homes for sale at any given time all year stayed lower than ever, it did not decrease sales overall. 2021 Recap. Yes, you read that correctly, worse. It is a real problem.

Sellers 74

Sellers Inventory Buyers Realtors 74

Appraisal Today

FEBRUARY 9, 2024

I am so glad I quit doing residential lender appraisals in 2005! = Homebuilders have been offering sizable concessions, including money for mortgage rate buydowns, to attract bidders and offload inventory. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.57 percent from 13.3

Appraisal 79

Appraisal Contracts Insurance Construction 79

Lamacchia Realty

JANUARY 28, 2022

The drop in early 2020 sales due to low winter inventory and then the pandemic made it easier for 2021 to outperform in that time frame. Homes Pending (contract accepted) – All of NH. Its easy to see why inventory is so tight. Multis increased by 26.6% and by 23.5% for sales and prices respectively.

Buyers 45

Buyers Contracts Inventory Real Estate 45

Will Springer Realtor

DECEMBER 14, 2021

There are too many consumers searching for homes and clearly not enough inventory, however that still means costs around goods, services and housing are going to inflate. Even in the housing bubble of 2005, prices rose “only” 12% nationally.) Nine of the homes are under contract, as of this writing. 3-bedroom with den).

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Real Estate Buyers Construction Sellers 69

Appraisal Today

MAY 27, 2022

Trying to use the 2005 URAR form is sometimes like trying to put a square peg in a round hole! Currently, higher rates, low inventory, and high prices are keeping prospective buyers out of the market. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 5.46

Construction 52

Construction Appraisal Modernization Contracts 52