Housing Wire

NOVEMBER 18, 2022

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. However, I knew the years 2020-2024 would see better demand from the bump in demographics.

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Inventory Marketing Housing Market New Listings 491

Housing Wire

JANUARY 9, 2023

The housing market saw inventory fall 4% last week from the week before. Does that mean we are heading back to all-time lows in inventory again for 2023? During the last four weeks and especially this past week, we are seeing inventory decline faster than expected. Weekly housing inventory. Weekly inventory change: (Dec.

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Inventory Housing Market Marketing New Listings 531

Housing Wire

FEBRUARY 6, 2023

Despite mortgage rates briefly falling below the 6% threshold, both housing inventory and mortgage demand fell last week. Weekly Housing Inventory A few weeks ago, I was encouraged that we had a slight increase in inventory and a small decline the following week. This week inventory fell 8,664 units from the previous week.

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Inventory Housing Market Marketing New Listings 476

Housing Wire

DECEMBER 3, 2020

Even prior to the pandemic , housing inventory had hit record lows, and the problem has only gotten worse as demand continues to rise. Total home sales are outpacing new listings by a wide margin every month, and real estate tech company Homesnap foresees the shortage continuing in 2021 unless more sellers enter the market.

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Inventory Housing Market Marketing New Listings 546

Housing Wire

MARCH 18, 2022

Inventory has broken to all-time lows, but it doesn’t look like the year-over-year data will be positive at all this year unless demand softens up. NAR Research : Unsold inventory sits at a 1.7-month NAR Research : Unsold inventory sits at a 1.7-month However, negative year-over-year inventory is not what we want to see.

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Housing Market Marketing Inventory Sellers 542

Housing Wire

MARCH 27, 2024

Those advantages, coupled with cheap land, made the city a favorite for homebuilders like DR Horton and Lennar that brought plenty of new inventory to market. In this environment of high rates and tight inventory, brokerages have had to become sharp elbowed. Listings jumped at both the state and city levels in 2021 and 2022.

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Housing Wire

OCTOBER 21, 2021

As the COVID-19 pandemic has opened the possibilities of working remotely, more and more people are looking to buy a house in Vermont’s largest city, causing a huge swell in demand in an area that was already flush with prospective buyers. Buyers from across the country have set their sights on Burlington. “We

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Buyers Inventory Agents Realty 374

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. .

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Housing Wire

DECEMBER 7, 2022

These were forced credit sellers, which means these sellers don’t sell to buy a home like a traditional seller does. Since they were distressed forced sellers, inventory skyrocketed in 2006 and stayed very elevated in 2007 and 2008. Total inventory levels. NAR: Total Inventory levels 1.22

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Housing Market Mortgage Marketing Inventory 543

Housing Wire

MARCH 6, 2024

Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates. percentage points—sellers take notice. Facing these realities, many would-be sellers decide to stay put. in 2019-2020, 16.9-17.2% No wonder, then, that many sellers decided to pull their listings. 31% in 2023-2024.

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Mortgage Sellers New Listings Buyers 434

Housing Wire

SEPTEMBER 13, 2022

The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. Typically we have a natural set of new listings each year; inventory rises in the spring and summer and then falls in the fall and winter.

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Mortgage Inventory New Listings Sellers 524

Housing Wire

NOVEMBER 4, 2022

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.

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Buyers Sellers Real Estate Agent Real Estate 381

Housing Wire

DECEMBER 21, 2022

In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! From NAR : “In essence, the residential real estate market was frozen in November, resembling the sales activity seen during the COVID-19 economic lockdowns in 2020,” said NAR Chief Economist Lawrence Yun.

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Inventory New Listings Housing Market Sellers 521

Housing Wire

DECEMBER 30, 2020

Mortgage rates would fall to record lows 16 times throughout 2020, with origination volume expected to eclipse $4 trillion. Low rates also continued to feed the refinance frenzy for many segments of borrowers while buyers created for a very early summer homebuying season. Quite the opposite. Meanwhile, refinancings rose to 65.7%

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Mortgage Investors Housing Market Marketing 545

Housing Wire

NOVEMBER 9, 2022

In the previous expansion, one of my long-term calls was that the MBA purchase application data will never hit the volume level of 300 until the years 2020-2024. Right on cue, 2020 came and we hit the 300 level. The years 2020-2024 were going to be the time when total home sales could finally reach 6.2 We are up 43% since 2020.

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Housing Wire

JUNE 28, 2022

Since the summer of 2020, I have talked about how to cool down home sales: we need the 10-year yield to break over 1.94%. The housing market can’t replicate the type of massive credit expansion we saw from 2002-2005, so the price-growth story has more to do with inventory collapsing to all-time lows. The 20-City Composite posted a 21.2%

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Housing Market Marketing Inventory Investors 482

Housing Wire

SEPTEMBER 17, 2021

Despite several indicators of a slowing housing market, prospective home buyers should not get too excited – inventory remains limited and changes are in line with the traditional seasonal slowdown, according to RE/MAX ’s August national housing report. increase in median home sale price from August 2020. in August from July.

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Housing Market Marketing Inventory Buyers 511

Housing Wire

JUNE 21, 2022

Now that we are almost in July, we can safely say the premise that once mortgage rates hit 4%, the mass panic selling of American homeowners who need to get out at all costs, driving total inventory up in the millions, hasn’t happened. Inventory skyrocketing back toward historical norms of 2 million to 2.5 million to return to normal.

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Housing Market Marketing Inventory Mortgage 540

Housing Wire

MAY 3, 2023

I wanted to close before May 1, so I selected a buyer who was already in underwriting. My agent exchanged a few emails with the buyer’s agent over a few minor repair requests, but this was all buttoned up very quickly. She made clear in our first conversation that the commission would only drop to 5% if she also found the buyer.

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Agents Real Estate Agent Brokerage Real Estate 428

Housing Wire

NOVEMBER 1, 2021

When COVID-19 happened, some sellers were able to sit back and watch the market. It was just a matter of weeks before the buyers returned and sellers sold their homes, leading home sales to get to pre-cycle highs in 2020 and 2021. And then home prices took off , and total inventory levels dropped toward all-time lows.

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Housing Market Sellers Inventory Mortgage 545

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.

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Housing Market Marketing Inventory Buyers 521

Housing Wire

JULY 20, 2022

But, there is one bright spot — inventory is rising. This has been a concern of mine after the summer of 2020 as inventory levels were breaking all-time lows, facilitating unhealthy home price growth during a more prominent demographic patch in U.S. The one positive: Inventory is rising. Unsold inventory sits at a 3.0-month

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Inventory Housing Market Marketing Realtors 518

Housing Wire

JULY 13, 2021

bidding-war rate Redfin saw in June 2020, when the housing market was starting to rebound from a temporary standstill triggered by pandemic shutdowns, said Laura Sechrist Molenda, a Redfin real estate agent based in Southern California. But recently, we’ve started to see buyers get cold feet. in May and a peak of 74.1%

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Inventory Housing Market Real Estate Agent Buyers 511

Housing Wire

JANUARY 20, 2023

“With the exception of May 2020, when the pandemic had virtually shut down housing market activity, this is the lowest level of monthly home sales in 12 years.” December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates,” Lawrence Yun, NAR’s chief economist, said in a statement.

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Inventory Housing Market Realtors Buyers 370

Boston Appraisal

JANUARY 18, 2023

The Rise in Interest Rates and How It Affects Buyers and Sellers When the COVID-19 pandemic began in early 2020, the Federal Reserve was quick to act by substantially reducing interest rates, which resulted in many new buyers entering the market to purchase a home at low rates. This affected buyers and sellers.

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Housing Wire

OCTOBER 26, 2023

He testified that, in most cases, homebuyers would be unable to include buyer agent commission costs into their financing. “My concern is buyers who are cash-constrained,” Stevens said. ” But buyers are not the only ones who benefit from the current system, according to Stevens. .”

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Housing Wire

MAY 2, 2023

And there’s another thing that separates the housing market from other markets — the buyer is often also the seller. In most markets, the seller, or supplier, makes their decision about adding supply to the market independent of the buyer, or source of demand, and their decision to buy. Homer Simpson or Spock?

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Housing Market Marketing Sellers Inventory 390

Housing Wire

NOVEMBER 12, 2020

According to the National Association of Realtors 2020 Profile of Home Buyers and Sellers, 47% of potential homebuyers said student loan debt was the biggest obstacle in saving for a downpayment. Over the course of this year, home prices have continued to tick upward due to low inventory and high demand.

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Buyers Realtors Sellers Inventory 476

Housing Wire

OCTOBER 24, 2022

It’s now October, we’ve had the biggest spike in mortgage rates we’ve seen in decades, and all the signs of a slowdown are here: Inventory is rising. Home buyers got spooked when mortgage rates passed 5.5%. In April, May and June, when rates spiked dramatically from 3% to 6%, we saw inventory rise as buyers pulled back.

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Real Estate Marketing Inventory Sellers 340

Housing Wire

FEBRUARY 27, 2023

We created the weekly Housing Market Tracker because housing data has been so wild since 2020. The housing market madness persisted last week as inventory fell and higher mortgage rates took a bigger bite out of purchase application data. Weekly inventory change (Feb. 17): Fell from 436,558 to 429,757 Same week last year (Feb.11-18):

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Housing Market Marketing Inventory New Listings 449

Housing Wire

MARCH 5, 2024

An assumable mortgage enables a qualified buyer to take over a seller’s mortgage terms, including the existing balance and interest rate. trillion in mortgages were originated in 2020 and 2021, the Mortgage Bankers Association (MBA) reported. We help listing agents generate significantly more buyers for their home sales.

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Mortgage Buyers Agents Real Estate Agent 441

Housing Wire

FEBRUARY 9, 2022

One thing is certain: potential buyers of all ages are not happy about the current market conditions. It’s simple: inventory levels were at all-time lows in 2021 and they just got worse in 2022, don’t make it any more complicated than that. history: move-up buyers, move-down buyers with a lot of cash, investors and all-cash buyers.

Inventory 370

Inventory Buyers Sellers Investors 370

Housing Wire

FEBRUARY 9, 2022

One thing is certain: potential buyers of all ages are not happy about the current market conditions. It’s simple: inventory levels were at all-time lows in 2021 and they just got worse in 2022, don’t make it any more complicated than that. history: move-up buyers, move-down buyers with a lot of cash, investors and all-cash buyers.

Inventory 370

Inventory Buyers Sellers Investors 370

Housing Wire

AUGUST 17, 2021

But there are definitely a few main things to looks out for — many of which are carrying over from a turbulent 2020 and early 2021 — when it comes to the upcoming landscape for the rest of 2021: Lack of inventory Fluctuating interest rates Increased adoption of technology. Inventory issues. All about the rates.

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Mortgage Inventory Real Estate Technology 518

Housing Wire

SEPTEMBER 22, 2022

With the home-price growth we had in 2020 and 2021, my five-year price-growth model that I set for 2020-2024 of 23% was already smashed in just two years. Since the summer of 2020, I have talked about what could change the housing market, which was a 10-year yield above 1.94%, which means rates over 4%. million to 1.28

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Inventory Housing Market New Listings Mortgage 477

Housing Wire

NOVEMBER 8, 2023

presentation to investors in the blank-check SPAC that took the company public in 2020. 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. “The largest, undisrupted market in the U.S.,”

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Marketing Inventory Renovations Investors 439

Housing Wire

OCTOBER 3, 2022

Skyrocketing mortgage rates – now in the 7% range for some buyers – and limited inventory have driven mortgage affordability to its lowest levels since the early 1980s, a reversal from the frenetic boom in buying during 2020 and 2021. Much of that depends on how much inventory returns to the market. as of Sept.

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Inventory Home Value Housing Market Mortgage 529