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New homes are selling like it’s 2006 again

Housing Wire

This is the fastest sales pace since September 2006. David Berson, Nationwide’s chief economist, said he is expecting that new home sales will continue to climb to levels not seen since 2006, despite expectations of modest mortgage rate increases. from February to a 1.02 Census Bureau. lower than March 2020.

Buyers 505
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The last time houses were this unaffordable was 2006

Housing Wire

housing was the least affordable ever back in July 2006 when it took 34.1% The post The last time houses were this unaffordable was 2006 appeared first on HousingWire. “As measured by the share of median income required to make the principal and interest payment on the average-priced home bought with 20% down, U.S.

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MSR market is partying like it’s 2006

Housing Wire

The post MSR market is partying like it’s 2006 appeared first on HousingWire. “Rising rates, significantly lower [mortgage] prepays and ample demand have driven MSR values to the highest levels since before the financial crisis [of 2007/2008],” Carnes said.

Marketing 397
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Equity surge boosts homeowner net worth by $208K: John Burns 

Housing Wire

Meanwhile, homeowners who bought in January 2000, January 2006 and January 2013 have received boosts of $414,000, $338,000, and $343,000, respectively. trillion in home equity at the end of 2023, up from $15 trillion in 2006, the previous peak of the housing cycle. Overall, U.S. homeowners held $31.8

Investing 468
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Opinion: Mortgage rates have a smaller impact on housing than you think; here’s proof

Housing Wire

From 1998 to 2006, according to Freddie Mac , the median annual mortgage rate was 6.45%. It goes to show what the failure to build enough homes from 2006 to the present combined with ultra-low, unrealistic mortgage rates and massive amounts of fiscal stimulus can do to the housing market. from 2005 to 2006, then another 22.4%

Mortgage 493
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How housing credit is shaping housing inventory

Housing Wire

You can see the drastic change this made in the Mortgage Bankers Association Credit Availability index , below, which skyrocketed in 2005 and 2006 before an epic collapse in 2008. Just look how lousy credit looked below in 2005, 2006 and 2007 — all before the job-loss recession in 2008. Demographics also play a role here.

Inventory 517
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The title insurance arms race heats up

Housing Wire

The first time Lawyers Title of Arizona Sales Executive Sarah Perkins walked through an acquisition was 2006. Perkins said the environment is reminiscent of 2006, when spirits were high and the market was in growth mode. But that wasn’t the only acquisition Perkins had seen during her 17-year career.

Insurance 430