Housing Wire

NOVEMBER 13, 2023

Buying a house was obtainable only for the haves in 2023 as home prices and mortgage rates soared. Homebuyers’ median household income increased by $19,000 this year from 2022, reaching $107,000, according to the National Association of Realtors ’ 2023 Profile of Homebuyers and Sellers. Meanwhile, in September, one-third of U.S.

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Housing Wire

AUGUST 10, 2022

One thing that I have stressed is that higher mortgage rates can create a slowdown in demand and thus allow more inventory to accumulate through a weakness in demand. If you really want to see inventory grow to 2019, 2016, 2014 or even 2012 levels, you need a healthy amount of new listing growth each year. How low do rates need to go?

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Inventory New Listings Housing Market Sellers 519

Housing Wire

MARCH 29, 2024

From 2014 to the present, Wang reportedly bought several homes in Massachusetts, New York, New Jersey and Washington, D.C., Additionally, Wang wrote in his complaint that as a repeat buyer, he did not rely on his agents for advice or recommendations on inspectors, contractors, mortgage brokers or electricians.

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Advertising Real Estate Realtors Buyers 414

Housing Wire

APRIL 14, 2023

Since October of 2022, the share of buyers who are purchasing their home without a mortgage has been more than one quarter of the market. These all-cash homebuyers are happily avoiding the higher mortgage interest rates, which touched 7% in the fall of 2022 before trending down to the current rate of 6.28%. Today, the average is 2.7

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Realtors Buyers Inventory Sellers 419

Housing Wire

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. Northpointe was the 24th largest correspondent lender , according to Inside Mortgage Finance.

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Housing Wire

MARCH 16, 2022

The rate of Hispanic homeownership has been inching up each year since 2014, according to U.S. A lot of sellers were very blunt about it: ‘If it’s FHA, forget it,’” said Lizbeth Alarcon, an agent at RE/MAX Vivid Realty. A lack of supply impacts the entire mortgage market, but for Latinos, it is particularly worrying, the report argued.

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Real Estate Agent Real Estate Agents Sellers 378

Housing Wire

JULY 20, 2022

This means 4%+ mortgage rates. This is common in recent history, which has happened before in 2013/2014 and 2018/2019. Higher rates need duration so sellers can adjust their pricing reality. We are already below 2008 levels today — not that far off the 21st century low of 2014. This is the unhealthy aspect of housing.

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Inventory Housing Market Marketing Realtors 506

Housing Wire

MARCH 18, 2022

You can see why I have been on team higher mortgage rates for some time now because we don’t have any other way to get off this madness. Inventory has been slowly falling since 2014, so if demand picks up in 2020-2024, it can collapse to shallow levels. However, a seller is also a natural homebuyer, unless they’re an investor.

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Housing Market Marketing Inventory Sellers 542

Housing Wire

JANUARY 26, 2021

November’s numbers mark the greatest annual growth rate since February 2014 and even blew past the 8.4% Novembers numbers were buoyed by record-low mortgage rates, Speakman noted, which plumbed new depths in November. Record low inventory and strong buyer demand once again pushed up the cost of homes in the U.S., in October.

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Inventory Housing Market Buyers Sellers 544

Housing Wire

JANUARY 7, 2021

“In particular, the sell-side component fell for the first time since April and by 18 points, reversing most of the increases of the past three months and implying to us that, at least temporarily, potential home sellers might wait to list their homes,” Duncan said. “If The report also predicts home price growth to slow through this November.

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Housing Wire

JANUARY 5, 2022

While the new fees on high-balance and second homes will function similarly to the now-suspended limits on investor and second homes, mortgage industry stakeholders welcomed Thompson’s decision. During her tenure so far as FHFA acting director, Thompson has made affordability a top priority.

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Finance Mortgage Government Sellers 516

Housing Wire

OCTOBER 11, 2022

There’s a showdown at the housing market corral between homebuyers and sellers. To top it all off, we started 2022 at all-time lows, forcing bidding action everywhere until mortgage rates rose. And we aren’t talking about your grandfather’s mortgage rates rising; we went from 2.5% Image by Brandon Johnson/HW Media.).

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Sellers Inventory Housing Market New Listings 498

Housing Wire

MAY 3, 2022

Logan Mohtashami: Yes, purchase application data has always been a useful forward looking indicator for housing, especially when we are dealing with higher mortgage rates. After making some Covid-19 adjustments to the data line, we will have our first negative year over year since 2014, unless something changes on the mortgage rate side.

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Housing Market Marketing Inventory Mortgage 389

Housing Wire

FEBRUARY 1, 2023

Rob Nunziata , co-CEO and co-founder of Florida-based FBC Mortgage , says one mortgage sweetener that holds out some promise for making houses more affordable for a broader swath of borrowers is the temporary rate buydown. “It Nobody was doing buydowns in 2020 and 2021 [when 30-year fixed mortgage rates were in the 3% range].

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Housing Wire

FEBRUARY 9, 2022

That same group of individuals was also shocked to see that mortgage demand picked up very noticeably toward the end of the year in 2021; even I labeled the existing home sales market as outperforming due to mortgage demand, which makes the survey look incorrect. So what is the issue here? Nobody likes competition when buying a home.

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Inventory Buyers Sellers Investors 370

Housing Wire

FEBRUARY 9, 2022

That same group of individuals was also shocked to see that mortgage demand picked up very noticeably toward the end of the year in 2021; even I labeled the existing home sales market as outperforming due to mortgage demand, which makes the survey look incorrect. So what is the issue here? Nobody likes competition when buying a home.

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Inventory Buyers Sellers Investors 370

Housing Wire

NOVEMBER 29, 2021

Who is crazy enough to write an American economic recovery model on April 7, 2020, and try to explain to people why housing isn’t going to crash due to demographics, good credit profiles and low mortgage rates? Mother Demographics and low mortgage rates are two very hard competitors to go against when advocating an epic housing crash.

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Inventory Contracts Training Investors 527

Housing Wire

MAY 11, 2021

Market analysts on the call did not question Wu and Wheeler, and instead discussed matters such as Opendoor’s entry into title and mortgage, and whether the company is disproportionately affected by the well-documented lumber shortage (answer: not really).

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Real Estate Agent Real Estate Brokerage Inventory 341

Housing Wire

NOVEMBER 8, 2023

Offerpad is an instant buyer, or iBuyer, a company that gives sellers cash offers for their homes and attempts to resell the homes for a profit, sometimes after making renovations. Opendoor set out on its disruptive journey in 2014, and Offerpad followed soon after in 2015.

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Marketing Inventory Renovations Investors 408

Housing Wire

OCTOBER 1, 2022

Mortgage interest rates have risen quickly in the past few months further eroding affordability. It is difficult to obtain a mortgage today. A housing borrower must have a higher credit score, significant savings, and higher incomes to qualify for a mortgage and compete in today’s housing market. .

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Realtors Housing Market Marketing Buyers 388

Housing Wire

JUNE 28, 2022

Imagine if mortgage rates didn’t rise this year. We are still showing double-digit home-price growth trends in the recent data as it takes time for higher mortgage rates to really increase supply back to normal levels. Since 2014, we’ve not seen the credit housing boom that we saw from 2002-2005.

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Housing Market Marketing Inventory Investors 449

Housing Wire

OCTOBER 2, 2020

AmeriHome on Thursday became the latest mortgage lender to file for a public offering, the latest to do so amid a coronavirus pandemic that has helped spur record origination volume this year. It’s a huge growth engine for AmeriHome – in 2014 the correspondent channel produced $1.9 billion in volume representing just 0.5%

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Valuation Mortgage Business Modernization 248

Housing Wire

FEBRUARY 3, 2021

Wedgewood , a real estate investment firm that focuses on distressed properties, was the seller of Civic. billion since its inception in 2014, the company said. Terms of the deal were not disclosed. Pacific Western Bank hailed the acquisition as a strategic move into specialized areas of the non-QM market.

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Investors Real Estate Lending Investing 298

Housing Wire

MARCH 23, 2022

We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housing market was last year — and it got a lot worse this year — it’s a blessing that was much needed. million line in the sand has been this: Home prices grow above that 23% level: check Mortgage rates spike higher: check.

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Mortgage Inventory Housing Market Construction 463

Housing Wire

APRIL 15, 2022

We’ve all been wondering what 5% plus mortgage rates would do to the hot housing market, and now we’ve got that and a bag of chips. As a result, I’ve been rooting for mortgage rates to rise to create a balancing impact on this housing market. The last time this data line was fragile was back in 2013-2014.

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Housing Market Marketing Mortgage Inventory 493

Housing Wire

AUGUST 30, 2022

NAR Total Listing Data: If we cut the timeline to the last time inventory grew, which was 2014, you can see this downtrend in inventory, unlike 2001-2005, when inventory grew from 2 million to 2.5 One of the issues with existing home inventory has been that, for the most part, a traditional seller is usually a buyer of a home.

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Inventory New Listings Law Housing Market 382

Empire Appraisal Group

JANUARY 11, 2023

But even though mortgage rates and home prices are expected to moderate, home sales may still sag under persistent inventory shortages, housing economists predict. Next year, mortgage rates are expected to stabilize while home sales and prices moderate after recent highs, according to NAR’s forecast. compared to 2022.

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Real Estate Marketing Buyers Sellers 78

Birmingham Appraisal

JULY 27, 2022

If they didn’t lose out on a contract for the home of their dreams they had to bid the price up way over the list price to even get the attention of sellers who have had an edge in the market since interest rates dropped after the COVID pandemic. After all, a higher interest rate will result in a higher mortgage payment.

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Buyers Inventory Sellers Appraisal 87

Cornerstone

FEBRUARY 2, 2021

Because of the competitive market conditions mentioned above, homebuyers have to do whatever they can to stand out — including getting prequalified for a mortgage before they start shopping. Many sellers are seeing homes “fly off the shelves.” This speeds up selling significantly. It can also make selling simpler.

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Landlords Loan Officers Buyers Sellers 67

Housing Wire

APRIL 1, 2024

As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. At the same time, seller volume dried up. But now sellers are coming back into the market. When mortgage rates rose in January February and into early March, that sales growth slowed. Why the difference?

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Inventory New Listings Contracts Sellers 457

DataMaster

MAY 17, 2023

According to the National Association of Realtors’ 2023 Home Buyers and Sellers Generational Trends Report , Millennials have made up the largest share of homebuyers from 2014 to 2022. According to NAR, Americans between the ages of 18 to 23 made up 4% of buyers and sellers.

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Appraisal Technology Real Estate Agent Tools 147

Appraisal Today

MARCH 31, 2023

And, with this inspection a traditional appraisal is no longer a requirement for the mortgage loan. The only reason for these changes are about a piece of the 11 TRILLION dollar mortgage market. Mortgage Lending In Q4 Hit Lowest Point Since 2014 Refinance mortgage originations hit low point this century.

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Appraisal Contracts Inspection Clients 52

AmeriMac

JULY 15, 2021

This dramatic increase in value affects home appraisals, which is good news for both buyers and sellers. These appraisals are done by a third party, who doesn’t have a vested interest in the sale or a relationship with either the buyer or the seller. What Higher Appraisal Values Mean for House Buyers and Sellers.

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Appraisal Sellers Real Estate Buyers 36

Housing Wire

FEBRUARY 14, 2022

Living on commissions often means getting paid more for convincing a buyer to increase their acceptable price range or coaxing a seller to hold out for a more lucrative deal. Noah Goldberg came to Redfin in 2014, nine years after graduating from American University and bouncing between different corporate jobs. “I

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Business Brokerage Real Estate Agent Agents 368

Housing Wire

DECEMBER 26, 2022

The housing market is one sector that can turn positive or negative very quickly depending on mortgage rates or one-time shocks like we saw with COVID-19. The three categories I’ll cover will be the weekly purchase application data, the Altos Research weekly inventory data , and what the bond market/ mortgage rates did recently.

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Housing Market Marketing Inventory Mortgage 489

Housing Wire

APRIL 16, 2024

As the engines of the housing and mortgage markets continue to sputter due to higher interest rates and fewer buyers, industry innovators are looking for ways to get their company’s wheels off the ground. An originator since 1999, Read got his real estate license in 2014 and opened up his real estate brokerage in 2019.

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Real Estate Agent Loan Officers Real Estate Agents 427

Appraisal Today

APRIL 1, 2023

NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, real estate market, regression and AVMs, unusual homes, mortgage origination stats, etc. = This type of business requires research and personal (one-on-one) marketing, similar to the old mortgage broker market.

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Appraisal Business Marketing Agents 52