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Trade groups express concern to FHFA over historic credit data

Housing Wire

“We hope that by providing early, proactive, and constructive feedback to FHFA and the GSEs, there will be adequate time to augment the data made available in the planned 3Q 2024 data release as well as in any subsequent data release.”

Legal 385
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OK to average adjusted comps on appraisals?

Appraisal Today

In Sacramento, Invitation Homes went on a rampage in 2012 and 2013, and purchased more steadily in subsequent years. That’s partly because sale-price data is a lagging indicator, reflecting deals that went under contract a month or two ago. Constructed from adobe and stucco in 1981, this luxe earthship is known as the Desert Flower.

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New home sales plunge 18.2%, but demand stays strong

Housing Wire

to a seasonally adjusted annual rate of 775,000 in February — the sharpest month-over-month decline since 2013, according to estimates by the U.S. A new home sale occurs when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed.

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Value of a Pool for Homes?

Appraisal Today

Shortly after, Oatman Architects was brought on for the construction, which wrapped three years later in 2013. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.87 The average contract interest rate for 15-year fixed-rate mortgages decreased to 6.36

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How to grow housing supply in 2021

Housing Wire

months, builders will halt the rate of growth for new construction plans as they did in 2018 and again for a brief period this year. months, the builders are ok with construction as long as new home sales grow. In 2013/2014, when the economic data was improving, mortgage rates rose. If supply goes over 6.5

Inventory 545
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Housing starts data lags reality of higher mortgage rates

Housing Wire

Census Bureau released their new residential construction report for April, showing a miss on the estimate and a negative revisions data line, which I believe is lagging behind the current market reality. This happened in 2013-2014, and in 2018 when mortgage rates moved toward 5%. From Census: Housing Completions Privately?owned

Mortgage 471
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Home prices soared 10.4% in December

Housing Wire

Finally, lumber and other building materials are still scarce, forcing construction companies to delay projects and prevent an inventory build-up. ” Zillow Economist Matthew Speakman added that homes in some major markets are going under contract more than a month faster than they were at this time last year. December 2020’s 10.4%

Inventory 441