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Fannie Mae on Q4: Existing home sales will be lowest since 2010

Housing Wire

million on an annualized basis – the lowest since Q3 2010. Compared to October 2022, existing home sales slumped 14.6%, down from 4.44 Fannie Mae expects Q4 seasonally adjusted existing home sales to be 3.9 Total home sales are projected to come in at around 4.8 million in 2023, 4.7 million in 2024 and 5.3 million in 2025. in 2024 and 6.9%

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Share of first-time homebuyers hits highest level since 2010: Zillow

Inman

That's the highest share since 2010. Unburdened by rate lock, the share of first-time homebuyers rose to 50 percent this year, according to a new report from Zillow.

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NAR Reports $2.1 Trillion Increase in Housing Wealth for Middle-income Households Since 2010

Appraisal Buzz

National Association of Realtors ’ (NAR) new “Housing Wealth Gains for the Rising Middle-Class Markets” study examines the distribution of housing wealth between 2010 and 2020 across income groups and in 917 metropolitan or micropolitan areas. NAR found that during those 10 years, nearly 980,000 middle-income households became homeowners.

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How housing credit is shaping housing inventory

Housing Wire

After 2010, qualified mortgage laws were in place, meaning everyone getting a mortgage has to be able to repay the loan. This is what happened post 2010: The millennials started to buy homes in 2013 and they finance 90% of those homes. This matters because inventory was already heading toward all-time lows before COVID-19.

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The long road to remote reverse mortgage counseling in Massachusetts

Housing Wire

From 2010 to 2024, the reverse mortgage industry sought to allow remote reverse mortgage counseling in the state of Massachusetts, citing an insufficient number of actual counselors and logistical challenges for senior clients. The proposed change would be logistically difficult,” Yedinak reported in May 2010. Massachusetts Rep.

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Housing credit data in Q4 looks nothing like 2008

Housing Wire

Bankruptcies and foreclosures After 2010, the qualified mortgage laws came into play and all the exotic loan debt structures in the system, especially in the run-up in demand from 2002 to 2005, disappeared. Renters, younger renter households and those with lower FICO scores are the ones showing credit stress today.

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Just how bad was 2023 for the housing market?

Housing Wire

Even during the downturn of 2006-2010, this factor only hit a low of 3.84% (2010). Over the past 40+ years we have tracked this figure, the average percentage of all households (renter and owner-occupied) that purchased a home each year was 4.78% and the median was 4.64%. The factor for 2023 was 3.58%.