Housing Wire

JANUARY 8, 2021

The country was paralyzed amid the current health crisis and many borrowers and sellers alike are frightened to enter purchase contracts and move forward with transactions already in progress. The post 2021 means new challenges for mortgage lending appeared first on HousingWire.

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Housing Wire

SEPTEMBER 29, 2021

Homebuyer contract signings in the U.S. its highest level since January 2021. Increased inventory of homes for sale, near historic low mortgage rates and favorable demographics means more housing demand, ” Odeta Kushi, the First American deputy chief economist said in a statement. lower than the same time last year.

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Housing Wire

JULY 14, 2021

After several consecutive weeks of drops, mortgage applications jumped 16% for the week ending July 9, 2021, according to the latest report from the Mortgage Bankers Association. “We continue to see ebbs and flows as housing demand remains strong, but for-sale inventory remains low,” he said. from 61.6% the previous week.

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Housing Wire

APRIL 17, 2023

Austin, Texas In 2021, Austin had one of the hottest housing markets in the country. In early 2023, however, as inventory in Austin has become more and more constrained, buyers have become accustomed to the higher mortgage rates and demand has ticked up. This popularity has resulted in constrained inventory.

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Housing Wire

SEPTEMBER 11, 2023

The good news for homeowners is that home values in most areas remain stable, and inventory levels for homebuyers are still low. MC: The demand for REO assets remains strong, with inflows and overall REO inventory levels remaining significantly less than post-Q1 2020 inventories.

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Housing Wire

MARCH 24, 2021

Inadequate housing inventory continues to put upward pressure on home prices,” Kan said. The dip in applications is linked to broader trends in the housing market: more than a year of low inventory is forcing interested buyers to snag whatever they can get their hands on, even if it’s overpriced.

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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. That was a huge red flag, hence all the statements in 2021 about unhealthy housing. . From NAR Research : “Total existing-home sales notched a minor contraction of 0.4%

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Housing Wire

MAY 10, 2022

These reports highlight the difference home buyers and potential home buyers have when embarking on the buying process. The report used real time listing data to show the limited housing inventory and the repercussions to home buyers. The second section, shows the experiences of successful home buyers by race.

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Housing Wire

FEBRUARY 18, 2022

Homebuyers flocked to what little inventory existed in January, with existing-home sales rising 6.7% Buyers were likely anticipating further rate increases and locking in at the low rates, and investors added to overall demand with all-cash offers,” said Lawrence Yun, NAR’s chief economist. January sales fell 2.3% “While the 6.7

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Housing Wire

MARCH 27, 2023

Housing markets in tech hubs were in high demand during the pandemic, with potential buyers facing fierce competition on homes in cities like San Jose and Austin. in early 2021, the Texas tech hub has been impacted by tech layoffs, dwindling tech stock values and unsustainable high home prices. according to Redfin’s data.

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Housing Wire

MARCH 10, 2021

. “Loan sizes moderated for the second straight week, which is potentially a sign that more first-time buyers are entering the market,” Kan said. The 30-year fixed mortgage rate climbed to 3.26% last week, which is the highest since last July and up 40 basis points since the start of 2021.”. from 12.3% the week prior.

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Housing Wire

NOVEMBER 30, 2020

However, borrowers are still maintaining a strong pace, as contract signings are up 20.2% Realtors cited a combination of high demand and low inventory, which are making conditions more competitive and exerting upward pressure on prices. pending home sales fell 1.1% compared to a year ago. Presented by: Fannie Mae.

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Housing Wire

FEBRUARY 28, 2022

regions, only the West registered an increase in month-over-month contract activity. My premise was that the pending home sales data should moderate from the surge in make-up demand we saw in 2020 and then spill over into the first two months of 2021. Of the four major U.S. Last year, I had a similar theme with pending home sales.

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Housing Wire

MAY 11, 2021

The number of buyers who locked in mortgage rates for second homes soared 178% year over year in April, marking the 11th straight month of 80%-plus growth, according to a recent Redfin study. the biggest increase in luxury-home sales in the first quarter of 2021 was Miami, with sales up 101.1% from a year earlier.

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Housing Wire

OCTOBER 16, 2023

Up from 45% last year and a notable increase from 37% in 2021, the report also mentioned that this share of first-time homebuyers likely hasn’t been this high since 2010, when there was a first-time homebuyer tax credit. It’s true that first-time buyers make up a larger piece of a smaller pie, as housing inventory shrinks.

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Hank Miller Team

APRIL 6, 2022

It's time to answer the nagging question…did housing inventory in Atlanta increase during the first quarter of 2022? A low in listings was reached in Feb 2021 after a Tower of Terror free fall at the start of the pandemic. The Covid collapse in listings is clear here as is the corresponding dip in Jan 2021 sales.

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Birmingham Appraisal

JULY 27, 2022

Do Buyers Have a Leg Up In Today’s Market? The smell of a market shift is in the air but what does this mean for the average buyer? Over the past two years, buyers have been put through the wringer. The steep rise in home prices, and the market’s competitive nature, have tested the resolve of buyers.

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Housing Wire

DECEMBER 23, 2022

The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. million home sales nationally in 2023, a decline of about 6% compared to 2021, and the lowest level of home sales in nine years. But the national figures do not tell the whole story.

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Housing Wire

AUGUST 11, 2021

Homeowners continue to respond to lower rates, with refinance activity climbing to the highest level since February 2021,” said Kan. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $548,250) increased to 3.15% from 3.12%. the week prior. The post Mortgage applications up 2.8%

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Housing Wire

AUGUST 25, 2021

Lower rates led to an increase in refinance applications, with government loan applications jumping 10 percent to the highest level since May 2021.” The average contract interest rate for a 30-year-fixed rate conventional mortgage decreased to 3.03% from 3.06%. The mix of refis was unchanged from the previous week at 67.3%

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Housing Wire

SEPTEMBER 30, 2020

” Kanacki’s market, like many others, remains competitive as buyers continue to experience bidding wars amid historically low housing inventory and an uptick in home prices. “I 20, the National Association of Realtors said that contract signings were up 23% year over year. Over the last four weeks ending on Sept.

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Housing Wire

JUNE 5, 2023

Lotsoff and Brok spent nearly 10 years at loanDepot and the branch they managed originated $1 billion in volume in 2020 and 2021, Lotsoff and Brok said. “We We liked that we’d have the opportunity to be more entrepreneurial and have more freedom.

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Housing Wire

JULY 29, 2021

Though the desire for buyers to purchase a new home remains strong, skyrocketing prices are putting the dream out of reach for some buyers, economists in the housing industry said. An index of 100 is equal to the average level of contract activity during 2001, the first year examined. million in 2022 from 6 million in 2021.

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Housing Wire

AUGUST 31, 2021

With little inventory, home-price growth in the U.S. annual growth rate logged the month prior, in May 2021. “While the housing market feels like it has legs that never get tired, inventory and affordability constraints are still expected to put a damper on price growth,” said CoreLogic Deputy Chief Economist Selma Hepp.

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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? The bump kinda sorta returned in 2021 but what happens in 2022?

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Housing Wire

FEBRUARY 28, 2023

For 2022 as a whole, the National Composite rose by 5.8%, the 15th best performance in our 35-year history, although obviously well below 2021’s record-setting 18.9% Lisa Sturtevant, Bright MLS’ chief economist, noted, however, that persistent low inventory conditions are keeping prices elevated in many markets. below its June peak.

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Housing Wire

AUGUST 31, 2022

compared to the same week in 2021. The MBA estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($647,200 or less) rose to 5.80% this week to the highest level since mid-July, from the previous week’s 5.65%. from the same week in 2021. for the week ending Aug. It was also down 63.8%

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Housing Wire

SEPTEMBER 28, 2021

annual gain for the year ending in July 2021, up from 18.7% from July 2020 to July 2021, which is up from the 18.5% increase recorded in June 2021. Additionally, there are move-up buyers with larger budgets who are relocating to more affordable areas where they’re financially able to outbid local residents.

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Housing Wire

NOVEMBER 2, 2022

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 7.06% on Wednesday from last week’s 7.16%, according to the Mortgage Bankers Association. . million in September 2021. million units from 6.18 Tables have turned for some sellers.

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Cleveland Appraisal Blog

OCTOBER 14, 2021

On many of my appraisals at that time, my opinion of value would not support the contract price. Don’t drink the Kool-Aid that any contract price is reflective of market value. It is interesting that inventory levels were increasing rapidly in the years leading up to 2008. Months of Housing Inventory Historically.

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Housing Wire

JULY 28, 2022

But they do agree on one thing: Higher interest rates will quell housing demand, which will allow inventory to rebound and, eventually, spur the return of reluctant buyers. An improvement from the 6% mark, yet it’s still significantly higher than early 2021’s 3% level. through the rest of 2022. increase in April and a 20.6%

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Housing Wire

MARCH 26, 2021

Portland, Maine, has emerged as a popular destination for current homeowners and prospective buyers looking to move out of metro areas into more spacious secondary cities. were heading to Portland in January and February of 2021. “It’s a full-on frenzy for buyers to secure a home.”

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Hank Miller Team

FEBRUARY 27, 2022

Coming off the frenzied Atlanta 2021 real estate market, it's hard to imagine things could get tougher for home buyers, but they are. Home buyers are rushing to buy ahead of additional rate and/or rent increases, some will be trapped on the hamster wheel of renting. How do home buyers get their offer selected?

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Housing Wire

AUGUST 14, 2023

This momentous shift dismantled the barriers that once confined inventory to cumbersome books where practitioners were no longer at the mercy of brokers who held real estate data hostage for their own advantage. According to a 2001 NAR survey , only 69% of buyers used the services of a real estate agent.

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Appraisal Buzz

DECEMBER 27, 2021

million units , and some experts say it could reach 8 million if there were more inventory. Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. Meanwhile, buyers are plucking up homes left and right. of homes are valued lower than the contract price.

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Housing Wire

MAY 12, 2022

Inventory is contracting. First, it’s not necessarily what the buyer even wants—we’re talking about one of the most important investments of a person’s life, not a spur-of-the-moment Amazon order. According to the 2021 J.D. Rates are rising. Refinances are falling. Application fallouts are worsening. Of course you do.

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Housing Wire

SEPTEMBER 26, 2023

Available inventory of homes for sale is on the rise in late September, which is very unusual for this time of year. In fact, inventory is growing faster than this time a year ago. What’s happening with inventory? Normally by this point in September, available inventory is declining slightly each week.

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