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Home-price index gains the most since 2018

Housing Wire

in July from a year ago, the biggest advance since 2018, as rock-bottom mortgage rates made it possible for people to bid higher for properties. advance in the prior month, and it was the largest annual gain since December 2018. The post Home-price index gains the most since 2018 appeared first on HousingWire.

Inventory 542
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Bidding wars – the scourge of buyers – slowed in August

Housing Wire

The bidding wars that put smiles on the faces of sellers and simultaneously drove buyers to rip their hair out weren’t as frequent in August, according to the latest report from brokerage Redfin. But buyers shouldn’t get too excited. In 2018-2019, total housing inventory was in the range between 1.52

Buyers 441
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Buyers rush to lock mortgages as rates move fast and furious

Housing Wire

Mortgage origination activity rose last month despite rapidly rising mortgage rates as prospective buyers sought to lock in their loans. In the face of rapidly climbing mortgage rates , refinance comprised 28% of the mortgage market last month, the lowest level since November 2018. during the same period. during the same period.

Buyers 370
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Key housing markets are starting to buck national trends: Redfin

Housing Wire

My advice to sellers is to price your home fairly,” Chen Zhao, economic research lead at Redfin, said in a statement. Even though sellers are getting top dollar at the moment, they should price competitively to attract buyers from the start and avoid having to drop their price as stubbornly high mortgage rates eat into buying budgets.

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Mortgage Rates Reach Highest Level Since 2018

Lamacchia Realty

This rapid increase is akin to a rate spike in 1994, however, the last time we saw 4.72% was in November of 2018. What does this mean for buyers? What does this mean for sellers? The impact may eventually diminish rising list prices as sellers become aware of buyers’ predicament with current rates. Buyer Resources.

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Share of Black first-time homebuyers falls to 3%

Housing Wire

The share of Black and Asian first-time buyers is down from 6% in 2021, while the share of white first-time buyers is up from 82% and Hispanic homebuyers up from 7%. Conversely, White and Hispanic Americans experienced gains in buyer shares. NAR found the age of repeat buyers increased to 59 years from 56 years last year.

Buyers 376
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Opendoor launches… a brokerage?

Housing Wire

Home Reserve , launched in May, enables Opendoor to list sellers’ homes while purchasing and reserving their next home with all-cash offers. Hanging your license with Opendoor Brokerage as an independent contractor means you are eligible for a consistent, steady stream of highly motivated seller & buyer clients,” the job post reads.

Brokerage 536