Housing Wire

JANUARY 26, 2024

It was the largest monthly jump in pending home sales since 2020. The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. Pending home sales rose 8.3% NAR’s Pending Home Sales Index (PHSI) increased to 77.3

Contracts 450

Contracts Housing Market Construction Inventory 450

Housing Wire

AUGUST 17, 2021

For better or worse, trends in the mortgage industry tend to mirror corresponding trends in the overall real estate market. Like so many other production pipelines, the construction of new homes, along with shortages in building materials like concrete and lumber , caused a significant decrease in new homes for purchase. Push for tech.

Mortgage 506

Mortgage Inventory Real Estate Technology 506

Housing Wire

JUNE 3, 2021

Fickle mortgage rates rose once again last week, this time four basis points to an average of 2.99%, according to Thursday data from Freddie Mac ‘s PMMS. However, despite fluctuating sub-3% mortgage rates, borrowers are still competing in a supply strained and overheated market. Even though rates have been below 3.2% from March to 5.85

Mortgage 365

Mortgage Inventory Construction Realtors 365

Housing Wire

DECEMBER 2, 2020

As 2020 comes to an end, realtor.com ’s economists believe that the housing inventory shortage won’t be as dire in 2021. Additional lockdowns and quarantines due to COVID-19 could put a dent in housing inventory and sales, potentially slowing down the market and putting increased pressure on buyers, the forecast said.

Housing Market 521

Housing Market Marketing Inventory Buyers 521

Housing Wire

APRIL 2, 2021

Sectors that were hit hardest by the pandemic led job growth last month, with jumps in leisure, hospitality, public and private education and construction – good signs for the housing industry. The Mortgage Bankers Association expects this heightened pace to drop unemployment numbers to below 5% by the end of the year.

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Inventory Construction Housing Market Business 498

Housing Wire

FEBRUARY 15, 2024

While “homeowner tenure” has fallen slightly since its 2020 peak, the length of time that homeowners are remaining in their properties doubled to 11.9 were 65 and older as of 2020, up from 13% in 2010,” the report reads. Some young families are turning to new construction, and others are renting homes.”

Property Taxes 457

Property Taxes Insurance Construction Inventory 457

Housing Wire

JUNE 2, 2023

“Even though the pace of layoffs has picked up, many businesses, particularly in transportation, healthcare, and hospitality, continue to have strong demand for workers,” Mike Fratantoni , the Mortgage Bankers Association’s chief economist, said in a statement. Residential building construction added 2,400 jobs during the month.

Construction 380

Construction Real Estate Housing Market Transportation 380

Housing Wire

NOVEMBER 10, 2022

Finally, some good news: the growth rate of inflation is cooling off for now, and with the CPI inflation report being positive, the 10-year yield fell noticeably, and mortgage rates will fall with that! This of course led some people to believe that bond yields and mortgage rates would go much higher today.

Mortgage 534

Mortgage Supply Chain Housing Market Marketing 534

Housing Wire

AUGUST 3, 2022

To say that mortgage rates have been on a wild Mr. Toad’s ride in 2022 is an understatement. People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% It’s savage man, truly savage with the mortgage rate rise.

Mortgage 498

Mortgage Inventory Sellers Housing Market 498

Housing Wire

MARCH 4, 2022

jobs report released Friday shows that 678,000 non-farm payroll jobs were added in February, and the return of skilled labor in residential construction is reason alone for optimism. unemployment rate recorded in February 2020, just prior to the Covid-19 pandemic. After mixed results in January , the U.S. in January.

Construction 370

Construction Renovations Real Estate Marketing 370

Housing Wire

MARCH 22, 2021

Homebuyers who offer all-cash improve their chances of winning a bidding war by 290%, per Redfin’s study of clients buying homes between June 2020 and February 2021. “All-cash buyers used to be able to go in a little below list price, but now I’m seeing a lot of cash offers that are at list price or higher. .

Inspection 545

Inspection Inventory Buyers Sellers 545

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?

Marketing 450

Marketing Mortgage Supply Chain Inventory 450

Housing Wire

MARCH 4, 2022

During this epic recovery, which started on April 7, 2020 , I was very adamant on Twitter that job openings would hit 10 million soon. This is why I use the term replacement buyers for housing, and it applies to workers too. 9, 2020, I knew the jobs recovery would lag all the other economic data for multiple reasons.

Mortgage 382

Mortgage Retail Construction Marketing 382

Housing Wire

JANUARY 4, 2021

If you’re looking to buy a home, you’ll stand the best chance in a buyer’s housing market, where listings are flush, demand is low and buyers have the upper hand — not to mention most of the negotiating power. A buyer’s market in 2021? It’s not likely we’ll see a buyer’s housing market in 2021, at least according to experts.

Housing Market 546

Housing Market Marketing Buyers Real Estate Agent 546

Housing Wire

JULY 13, 2022

Keeping the figures simple, here is some math tied to the NAHB blog: If lumber in 2019 was $400/mbf, lumber cost was $11,200 per home If lumber in 2020 was $1070/mbf, lumber cost was $29,800 per home If lumber in 2022 is $400/mbf, lumber cost is back to $11,200 per home. What is the impact of lumber relative to interest rates?

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Supply Chain Buyers Construction Mortgage 403

Housing Wire

JUNE 23, 2021

from April 2020 to April 2021, with the median home price surging by more than $20,000. A downpayment can be a major barrier for first-time buyers—student debt, stagnating wages, and the increasing cost of rent all make it difficult to save. For example, today’s historically low mortgage interest rates offer buyers more spending power.

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Housing Market Marketing Construction Insurance 413

Housing Wire

JANUARY 6, 2022

Homebuilders responded to the shortage of homes for sale, accelerating new home construction, even as they face severe supply-side challenges, including rising building material costs and supply-chain bottlenecks, a lack of affordable lots, and difficulty in finding skilled labor. Since 2018, the housing supply deficit has been growing.

Supply Chain 493

Supply Chain Housing Market Construction Inventory 493

Housing Wire

APRIL 26, 2021

That’s also 16 days fewer than the same period in 2020. At the highest points in 2019 and 2020, average home sale prices never went above $300,000 and $325,000, respectively. And on top of that, builders are struggling to construct new homes given an ongoing lumber shortage.

Sellers 450

Sellers Housing Market Marketing Buyers 450

Hank Miller Team

DECEMBER 17, 2021

It's not a rosy outlook; expect home buyer frustration to increase in 2022. So what's in store for home buyers and sellers that have to make a move this spring? So what's in store for home buyers and sellers that have to make a move this spring? Well that was until about Mid-March of 2020 when all hell broke loose.

Buyers 98

Buyers Supply Chain Inventory Real Estate 98

Housing Wire

JUNE 22, 2021

from May 2020 ($283,500). “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. months in May 2020. The market’s outlook, however, is encouraging.

Inventory 414

Inventory Buyers Realtors Housing Market 414

Housing Wire

JANUARY 26, 2021

Record low inventory and strong buyer demand once again pushed up the cost of homes in the U.S., “With buyer demand continuing to outpace the previous year’s levels amid historically lowest inventory of for-sale homes, the pressure on home prices is going to fuel home price growth in the first half of 2021,” Happ said.

Inventory 544

Inventory Housing Market Buyers Sellers 544

Housing Wire

JUNE 30, 2021

Pending home sales reached its highest mark for the month of May since 2005, up 8% from the previous month of April as low inventory continues driving buyers to snatch up available real estate. “Buyers are still lining up a feverish pace,” Yun said. “Buyers are still lining up a feverish pace,” Yun said.

Supply Chain 414

Supply Chain Inventory Buyers Realtors 414

Housing Wire

MAY 25, 2021

from March 2020, according to the most recent S&P CoreLogic Case-Shiller Home Price Index report. Home price data is consistent with the hypothesis that COVID-19 has encouraged potential buyers to move from urban apartments to suburban homes,” Lazzara said. Home prices accelerated yet again in March, for the 10th straight time.

Supply Chain 404

Supply Chain Inventory Buyers Construction 404

Housing Wire

MARCH 28, 2022

However, since I had the possibility of the 10-year yield getting to 2.42% and 4% plus mortgage rates, I accounted for that in the range. HousingWire: How will rising rates affect new home construction? Housing construction will be impacted if the monthly supply for new homes breaks above 6.5 months on a 3-month average.

Housing Market 365

Housing Market Marketing Supply Chain Inventory 365

Housing Wire

MARCH 1, 2022

In January I received a text message from Dave Savage, CEO of Mortgage Coach. News just broke that private equity investor LLR Partners announced strategic investments in two mortgage technology companies — Mortgage Coach and Sales Boomerang ( click here for article ). Tech100 Mortgage Winners. Hey Clayton …” and a link.

Real Estate 375

Real Estate Brokerage Real Estate Agent Technology 375

Housing Wire

MAY 25, 2021

April’s new home sales are nearly double that of April 2020’s estimate of 582,000. 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.

Construction 414

Construction Technology Development Marketing 414

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].

Marketing 404

Marketing Government Mortgage Sellers 404

Lamacchia Realty

OCTOBER 20, 2021

MORTGAGE RATES ARE RISING. The historically low mortgage rates we have seen during the COVID era are starting to rise. Economic stimulus programs were put in place in late spring of 2020 to prop up the economy , but as it has since recovered, these programs are likely soon being tapered off. Buyer Resources. Read More ».

Mortgage 72

Mortgage Buyers Realty Construction 72

Empire Appraisal Group

MARCH 14, 2024

After climbing every year between 2005 and 2020, U.S. However, given spiked mortgage rates and low existing home sales, tenure rates could start going higher again. homeowner tenure increase so much between 2005 and 2020? That’s according to Redfin’s new analysis of U.S. Census Bureau data. Why did U.S.

Property Taxes 78

Property Taxes Construction Housing Market Buyers 78

Housing Wire

JULY 25, 2023

I do a lot with new construction and homeowners’ insurance is cheaper on new builds because they are brand new,” Williams said. One of my recent new home buyers got their final quote on a property a 30-minute drive from the coast and it had gone up 40% from a year ago.

Insurance 369

Insurance Housing Market Marketing Agents 369

Housing Wire

FEBRUARY 2, 2022

billion in 2020. For Pulte Group, buyers paid an average price of $463,000, up 11% from the year before. The average 30-year fixed mortgage interest rate is about 3.6%, according to a Freddie Mac survey.). The Atlanta-headquartered company reported $1.95 billion in 2021 net income, a 38% leap from $1.41 in December.

Supply Chain 362

Supply Chain Investors Construction Buyers 362

Housing Wire

AUGUST 15, 2023

With strong demand and limited options for existing homes, many homebuyers are turning to new construction. Mortgage applications for new construction home purchases increased 35.5% in July on a year-over-year basis, according to the Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data. Overall, 24.2%

Construction 370

Construction Mortgage Inventory Buyers 370

Housing Wire

FEBRUARY 13, 2024

Walker said the prospect of lower mortgage rates is prompting many agents to feel more positive about the 2024 housing market. In Birmingham, ERA King Real Estate agent Anna-Maria Ellison said that even without lower mortgage rates, she is seeing buyers return to the market. “It New construction is backed up,” she said.

Construction 401

Construction Supply Chain Inventory Agents 401

Housing Wire

NOVEMBER 16, 2022

Homebuilder confidence continued to drop in November, hitting its lowest level since June 2012, with the exception of the onset of the COVID-19 pandemic in the spring of 2020, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Wednesday.

Buyers 545

Buyers Mortgage Real Estate Housing Market 545

Housing Wire

DECEMBER 4, 2020

Government employment, however, fell by 86,000 – a stat that Mike Fratantoni, senior vice president and chief economist at the Mortgage Bankers Association , chocks up to the loss of jobs tied to the 2020 U.S. census count. Total low-earning job losses in the third quarter were down 9.6%

Transportation 213

Transportation Retail Construction Housing Market 213

Appraisal Buzz

APRIL 11, 2022

It’s increasingly difficult for home appraisers to predict what will happen next, between seller booms and fluctuating mortgage rates. Here are some buyer relocation trends to watch out for in 2022’s hectic real estate market. Affordability remains an issue for younger buyers who haven’t yet saved enough money.

Buyers 370

Buyers Renovations Supply Chain Housing Market 370

Housing Wire

MAY 6, 2021

of homes sold in the fourth quarter of 2020 that were affordable to households earning the median income of $78,500. “After a surprising gain for housing affordability in 2020 that was driven by historically low interest rates, housing emerged as a bright spot for the overall economy,” said NAHB Chairman Chuck Fowke.

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Housing Market Marketing Market Value Construction 433