Remove 2006 Remove Housing Market Remove Modernization Remove Sellers
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. These were forced credit sellers, which means these sellers don’t sell to buy a home like a traditional seller does. Total inventory levels. NAR: Total Inventory levels 1.22

article thumbnail

What’s next after a historic housing boom?

Housing Wire

“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. What we’re starting to see is more of a cooling or a plateauing than a market correction.”. on pace for 6.29

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

There’s a showdown at the housing market corral between homebuyers and sellers. When I came up with the “ savagely unhealthy housing market ” label in February of this year, it was based on the premise that the housing inflation story that we have had to deal with since 2020 was a historical event.

Sellers 498
article thumbnail

Home sales are going to nosedive in 2023, Fannie Mae says

Housing Wire

The forecast for the housing market in 2023 gets worse by the month, with the latest report predicting a million-plus decline in existing home sales. The slowing effect on the housing market of the higher mortgage rate environment has been largely predictable, and home prices appear to have already begun trending downward.”.

Contracts 414
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. The housing market is cooling-off. Or, hit the reply button.

article thumbnail

Appraisal Risk, Reviews, and Revisions

Appraisal Today

I’m always looking for something new ;> Nearly Two-Thirds of Homebuyers and Sellers Are Hesitant to Move Somewhere With Climate Risk. Meanwhile, 15% of buyers and sellers said climate change caused them to search in a different part of their area. percent, the highest level since 2006. Redfin Survey October 07, 2022.

article thumbnail

CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

DID SOMEBODY SAY, ‘HOUSING BUBBLE?’. Are we in a housing bubble? The housing market has become bubbly,” said economist Enrique Martinez-Garcia of the Federal Reserve Bank of Dallas. He was one of the authors of a recent report that found signs of a housing bubble in the real estate market.