Remove 2007 Remove Construction Remove Inventory Remove Realtors
article thumbnail

How LOs are dealing with a mortgage rate lockdown

Housing Wire

I go into real estate offices and Realtors have zero listings for the week,” said the LO, who requested anonymity to protect the business of her partners. “I This month, she is lucky to have $2 million in her pipeline thanks to closing deals on a construction loan, a condo and a vacant lot. And it’s going to get worse.

Mortgage 383
article thumbnail

Fla. Unlikely to Feel Impact from Slowing Market

Empire Appraisal Group

s rising demand and lack of construction will probably offset a potential cooldown. Still, most economists are not predicting the catastrophic housing crash of 2007-2009 when there was a surplus of homes nationwide and a market saturated with bad mortgages. Unlikely to Feel Impact from Slowing Market | Florida Realtors.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Mortgage rates hold steady at 2.87%

Housing Wire

” Khater added that purchase application demand is improving, but very low inventory is the major obstacle to higher home sales. While borrowers weigh the benefits of refinancing their mortgage, in the purchase market, they still face rising prices and a lack of inventory. The lack of inventory is not expected to improve soon.

Mortgage 469
article thumbnail

Fed’s latest 25 bps hike could be its last (but maybe not)

Housing Wire

The Federal Reserve (Fed) raised its key federal funds rate for the 10th consecutive time, announcing a 0.25% rate hike Wednesday to 5% to 5.25%, a level they have not reached since 2007. Existing home sales in particular have been paltry in 2023, largely due to low levels of inventory.

article thumbnail

U.S. home prices hit 14-year high in October

Housing Wire

Home prices have continued to increase this year as a result of low inventory and high demand for homes. million, according to the National Association of Realtors. Larger homes have become more popular as more homeowners are working from home, becoming a main driver for construction. census divisions, reported an 8.4%

Buyers 543
article thumbnail

Houston Housing Market Forecast: Current Data & 2021 Predictions

Houston Properties

Top Ranked Realtors: Paige Martin & The Houston Properties Team. Today's monthly payments on a $500,000 mortgage are about the same as a $210,000 mortgage from the mid-1990s or a $300,000 mortgage from 2007. The market will see an influx of price drops and hikes due to low inventory and high demand. Buyers Beware?

article thumbnail

HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

Builders began construction on just under a million single-family homes in 2020. That’s the most since 2007. median figure is $320/month. >> Recent data from the National Association of Realtors® show buyers put down an average 12% of the purchase price on a home. A drying up of listings sent inventory figures lower.