Housing Wire

DECEMBER 16, 2021

We’ve had the sharpest and yet also the shortest recession in history, record-low mortgage rates leading to record origination volumes, and record home prices as housing demand far outstripped supply. How will the Federal Reserve respond to economic developments in 2022, and what will be the impact on mortgage rates?

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Housing Wire

JUNE 22, 2021

“Lack of inventory continues to be the overwhelming factor holding back home sales, but falling affordability is simply squeezing some first-time buyers out of the market,” said Lawrence Yun, NAR’s chief economist. Total housing inventory at the end of May grew to 1.23 Unsold inventory sits at a 2.5-month

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Housing Wire

MAY 25, 2021

In this webinar, MCT COO Phil Rasori and expert guest panelists will review how mortgage lenders can overcome common challenges selling their loans on the secondary market. Higher material costs , a lack of inventory and labor continue to drive demand, pushing up home prices. .” Presented by: MCT.

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Housing Wire

MARCH 2, 2022

So-called iBuyers purchased a total of 70,402 homes in 2021, more than doubling the number purchased in 2019, according to a report from Zillow released on Tuesday. Beyond just a record number of purchases by the iBuying companies, the number of completed home sales (44,933) also exceed the previous high from 2019 (28,265).

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Housing Market Inventory Construction Marketing 366

Housing Wire

DECEMBER 10, 2020

The Des Moines housing market has had a record-setting year for home sales, which local Realtors credit to low mortgage rates, the work from home phenomenon and Des Moines’ affordable lifestyle. That, along with the tech jobs Des Moines has to offer and low mortgage rates , means new builds are more affordable for younger buyers. “I’ve

Housing Market 467

Housing Market Marketing Realty Realtors 467

Housing Wire

APRIL 26, 2021

The effects of low housing inventory continue to cause significant ripples in the housing market, as a recent Redfin report shows home sale prices across the country have reached an average of $344,625 — an all-time high, and an 18% increase year over year. Average listing prices never approached $325,000 in 2019.

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Housing Wire

MAY 6, 2022

So far this year, with the rise in mortgage rates, it is still trending better than I thought it would have with rates over 5%. HousingWire: Will inventory finally break the streak and be positive year over year? Logan Mohtashami: The year-over-year inventory trends will finally show some positive prints in the upcoming weeks.

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Housing Wire

MAY 25, 2021

In order to account for uncertain prices and availability of materials, homebuilders are holding off on making homes available until they are further along in the construction process. This is not due to a lack of demand; quite the opposite, Speakman noted. ” Technology for navigating secondary market challenges. .

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Construction Development Technology Marketing 448

Housing Wire

NOVEMBER 2, 2020

Mortgage rates followed, which dampened demand. Plus, we have solid demographics and low mortgage rates. months, builders pull back, and new construction stalls. We saw this in 2018 and then spent the entire year of 2019 selling off the excess inventory. It was more noticeable than what we saw in 2018.

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Housing Wire

SEPTEMBER 22, 2023

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. this week, Fannie Mae Chief Economist Doug Duncan believes that mortgage rates will stay elevated before the Fed makes further rate cuts. “We’ve Kim: Spreads in the mortgage space are wide.

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Housing Wire

SEPTEMBER 27, 2022

This isn’t true (just look at his next statement, below) — he really wants the bidding wars to end, and for total inventory to grow and regain balance. As you can see below on the NAR total inventory chart, we didn’t have a seasonal push in inventory in 2020, which left us vulnerable to price growth that was above the historical norm.

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Hank Miller Team

NOVEMBER 15, 2022

Atlanta is one of the steady ones, and housing inventory in Atlanta will not jump in 2023. Atlanta Housing Inventory Everything must be kept in context. Same for where mortgage rates land, up in the air. There are always variables but at this point, we do not expect Atlanta housing inventory to jump in 2023.

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Housing Wire

DECEMBER 29, 2021

The housing market didn’t crash at all, in fact, more Americans bought homes with mortgages in 2021 than in 2020. After failing from 2012-2019, they went all in during 2020 due to COVID-19, only to move the goalpost to 2021 due to forbearance. mortgage rates, so on the mortgage rate side of the equation, it’s never been better.

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Housing Wire

MAY 3, 2024

No matter where you are in the Tar Heel State, real estate professionals across North Carolina are frustrated by the lack of housing inventory. The challenge remains lack of inventory — that’s definitely the big one,” said Alison Alston , the broker-owner of Charlotte-based Lodestone Real Estate and Investments. “We being outbound. “We

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Housing Wire

MAY 26, 2022

It’s an excellent time to discuss housing inventory. As the 10-year yield broke above 1.94% and mortgage rates rose, we saw the impact on housing data. How can housing inventory be so low today when it skyrocketed back in 2009? Now don’t get me wrong: demand is better in 2020 and 2021 than in any single year from 2008 to 2019.

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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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Housing Wire

APRIL 11, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Wait, what?

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Inventory Housing Market Marketing Modernization 512

Hank Miller Team

NOVEMBER 8, 2021

Trying to predict any market; stock, bond, mortgage, real estate or other type is a measured guess at best. In 2019 the housing market found its legs and combined with a historically strong economy and low rates, the housing market caught fire. The two main drivers; low mortgage rates and historically low inventory.

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Housing Wire

MARCH 29, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Wait, what?

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Inventory Housing Market Marketing Modernization 435

Housing Wire

MAY 23, 2023

Demand for newly built homes has been strong amidst the historically low inventory of existing homes for sale ,” Lisa Sturtevant, the chief economist at Bright MLS , said in a statement. However, experts note that the existing home inventory trough won’t last forever. In April, the sales pace of new homes rose 4.1%

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Eppraisal

MARCH 17, 2023

From COVID-19 interventions to supply chain disruptions to record inflation, the hits kept coming against a real estate market that was already experiencing diminished inventories and a growing pool of buyers. Prior to COVID, i.e. March of 2020, inventory was already falling. Where Have We Been? Where Do We Stand Now?

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Housing Wire

JANUARY 5, 2023

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. Mortgage rates. Home price s.

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Housing Wire

MARCH 17, 2022

Census Bureau released their construction report for February, showing a positive trend in housing construction data with a lovely print in housing permits at 1,859,000 and housing starts at 1,769,000. So far, housing construction has done well during 2020-2022 considering the economic drama. Today, the U.S.

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Housing Wire

MAY 8, 2023

A key source of affordable housing inventory was cut in half over the last three years, resulting from well-intended but heavy-handed efforts to keep delinquent borrowers in homes. That key source of affordable housing inventory: distressed properties sold to third-party buyers or repossessed by lenders at foreclosure auction.

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Housing Wire

DECEMBER 7, 2020

The reasons for that are solid demographics and low mortgage rates , which will not change much in 2021. 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. For now, though, the low inventory means housing starts have legs to move higher.

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Housing Wire

JULY 26, 2022

This data line confirms what we all know to be the case: The housing market, at least as it relates to construction, is in a recession. We talked about this in March , and even last year, when I wrote about the problem with the housing construction boom premise. “I don’t expect a boom in housing construction.

Construction 514

Construction Housing Market Inventory Marketing 514

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

Quicken Loans

DECEMBER 16, 2021

Mortgage rates dropped down to record lows that carried through much of 2021. In combination with low housing inventory and labor shortages, that drove up selling prices. Some sought out properties that could support home offices, while others simply didn’t want to miss out on the low mortgage rates. Buyer demand continued.

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Housing Wire

JULY 22, 2021

You can thank a rise in housing inventory for the gains. million in June 2020 as housing inventory has slowly improved in recent months. Total housing inventory at the end of June amounted to 1.25 from May’s inventory and down 18.8% ” Unsold housing inventory sits at a 2.6-month share in June 2019.

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Housing Wire

FEBRUARY 21, 2024

The reports note that Millennials are reaching the typical age of homebuying at a time when a prospective homebuyer who can pay a 20% down payment and can pay the equivalent of the going market rent towards a monthly mortgage payment would not even qualify for the median home in the U.S. billion in sales is still 40% above 2019 levels.

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Housing Wire

FEBRUARY 24, 2023

9 up until the early part of February as mortgage rates fell from 7.37% to 5.99%. To combat higher mortgage rates, builders have been cutting prices and buying down rates to move product. Homebuilders’ for-sale inventory and months’ supply The seasonally-adjusted estimate of new houses for sale at the end of January was 439,000.

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Empire Appraisal Group

APRIL 22, 2021

While higher housing costs and mortgage rates will chip away at buyer demand, the sheer volume of current buyers makes the next buyers’ market appear far away. However, financing to invest in lots, land and inventory has been a significant challenge for private builders,” said Todd Pyatt, owner of Pyatt Builders. MECKLENBURG, Tenn. –

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Housing Wire

JULY 13, 2022

Looking at the housing market in the years 2020-2024, one risk i identified early on was that home prices could accelerate more in this period than we saw in the previous expansion if inventory channels broke to all-time lows. Back then, we had higher sales, higher inventory, and less price growth, but we had a massive credit bubble.

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Inventory Housing Market Mortgage Construction 540

Housing Wire

APRIL 18, 2023

What is the best news for mortgage rates long-term? Without rents taking off, the CPI data would look much more tame, like what we saw from the years 2000-2019. More supply of apartments coming on line will be good news for mortgage rates going forward. This is key for mortgage rates looking out for years to come.

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Housing Wire

DECEMBER 29, 2023

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. Let’s look at the new construction forecast for 2024. The business appears durable, too. million and 7.3

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Housing Wire

MARCH 8, 2023

It is no secret that the housing market is suffering from an ongoing inventory drought. Existing housing inventory fell by 11,021 homes week over week for the week ending March 6, according to data from Altos Research. This resulted in the gap between single family home construction and household formation growing to 6.5

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Housing Wire

OCTOBER 26, 2020

but this was before COVID-19, which temporarily crushed bond yields and mortgage rates. When mortgage rates got to 4.75% -5% in 2018, demand fell and inventory for new homes went up. This dramatically slowed the rate of growth in construction in 2019. above the September 2019 estimate of 726,000.

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