Remove 2006 Remove Contracts Remove Housing Market Remove Valuation
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Rising home prices take a toll on pending home sales

Housing Wire

in October – the second consecutive month the index has fallen as affordability strains the market, a recent report from the National Association of Realtors said. However, borrowers are still maintaining a strong pace, as contract signings are up 20.2% pending home sales fell 1.1% compared to a year ago.

Realtors 532
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VA Approves Desktops and Exterior-Only Appraisals

Appraisal Today

Excerpts from the Summary: On August 1, 2022, the Veterans Affairs released Circular 26-22-13 announcing new procedures for alternative valuation methods, effective immediately. Fannie: Learn how valuation modernization is changing collateral underwriting – Video, 1 hour, 23 minutes. The housing market is cooling-off.

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NAR Appraisal Survey 2022

Appraisal Today

The eight percent who cite other valuation methods most often explained that they use a hybrid approach or mostly an exterior appraisal. Three articles about the current housing market “Big Picture” I have three links below showing that markets vary widely around the country. Housing Market Cools.

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Too many appraisers?

Appraisal Today

Here we consider how these “frictions” will behave as appraisal demand has dropped, just as each of the five forces have found ways to reduce or “eliminate” the need for valuation expertise. Hot housing market not a bubble, economists say. The average contract interest rate for 15-year fixed-rate mortgages increased to 4.62

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Home prices see greatest gain in over 6 years

Housing Wire

census divisions rose 7% in September from a year ago, the greatest year-over-year gain since 2014, and nearly 23% higher than its last peak in 2006. “These elevated levels of market competition have been placing upward pressure on prices for months, but home prices have just recently begun to take off in earnest. Census Bureau.

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Appraisal Risk, Reviews, and Revisions

Appraisal Today

The second thing, and most everyone who is tracking this data already knows this, is that this data and the indexes that spring from them are all lagging indicators of the health of a given market. In a market that moves as quickly as ours is, often that can be too old. percent, the highest level since 2006. percent from 6.75