Remove 2006 Remove Buyers Remove Inventory Remove Modernization
article thumbnail

Lower mortgage rates are stabilizing the housing market

Housing Wire

What I mean by a credit bust is that after the housing bubble burst in 2005 into 2006, we saw a massive increase in supply. Since they were distressed forced sellers, inventory skyrocketed in 2006 and stayed very elevated in 2007 and 2008. Total inventory levels. NAR: Total Inventory levels 1.22

article thumbnail

What’s next after a historic housing boom?

Housing Wire

But — in the same beat — Caporale added, “There is still a massive influx of buyers, and I am not seeing a significant drop in demand.” We just went through one of the biggest housing booms in modern history,” said Jonathan Miller, a real estate appraiser at Miller Samuel who also produces housing market reports for Douglas Elliman.

Insiders

Sign Up for our Newsletter

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

article thumbnail

The standoff between homebuyers and sellers

Housing Wire

Inventory, which has been falling for years, broke to all-time lows in 2020. We didn’t have a seasonal push in inventory in 2020, and things worsened in 2021. Of course, this has brought back some inventory, as demand weakness always creates inventory through accumulation. million active listings, but at just 1.28

Sellers 498
article thumbnail

VA Approves Desktops and Exterior-Only Appraisals

Appraisal Today

Fannie: Learn how valuation modernization is changing collateral underwriting – Video, 1 hour, 23 minutes. Excerpt from emailed notice: “Valuation Modernization: New perspectives on collateral underwriting” is a must-see for underwriters and appraisal reviewers. For more details and graphs, click here. To read more, click here.

article thumbnail

Millennials Expected To Maintain Real Estate Buying Intensity

Will Springer Realtor

Amid the challengers for buyers, there is an expectation for housing activity to continue puffing its Thomas the Tank Engine without a misfire – at least through early summer – before possibly lowering a gear. One of the reasons for the continued home-sales intensity – in any season – is a key group of “new” buyers. million units.

article thumbnail

CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

That’s where buyers are paying about 42% more in their monthly mortgage payments for the same house today than they did a year ago. Sidenote: Adjustable-rate mortgages (ARMs), which typically have lower interest rates than fixed-rate mortgages, have become an attractive option for new buyers financing a home.

article thumbnail

IN DIRE NEED OF GENERATIONAL RESPONSE TO HOUSING SHORTFALL

Will Springer Realtor

The Biden administration’s $2T infrastructure plan includes $213B allocated for housing, with a focus on low- and middle-income homeowners and potential buyers. Lawrence Yun also said this figure will be the highest rate of sales since 2006. Both are welcome signs for buyers but they should not be interpreted as a trend.