Housing Wire

JANUARY 31, 2023

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. It’s also what keeps Andrew Marquis, regional vice president at CrossCountry Mortgage and Scotsman Guide ’s seventh top LO, up at night, especially as he sees more buyers entering the market.

Inventory 370

Inventory Marketing Business Buyers 370

Housing Wire

FEBRUARY 20, 2024

According to a new report from the National Association of Realtors (NAR) titled “A Snapshot of Race and Home Buying in America,” Asian and Hispanic Americans achieved historic heights in homeownership rates in 2022 of 63.3% While the gains should be celebrated, the pathway into homeownership remains arduous for minority buyers.”

Buyers 432

Buyers Inventory Realtors Mortgage 432

Housing Wire

APRIL 18, 2024

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. Of course this isn’t the healthiest housing inventory story. from the previous year ($375,300). All four U.S.

Inventory 490

Inventory Housing Market New Listings Buyers 490

Housing Wire

SEPTEMBER 30, 2022

There is more inventory relative to demand, and deals can be found. It’s transitioning to a buyers’ market, as 20% of sellers had a price reduction in August 2022, compared with 11% a year ago,” said Rich Weidel, CEO at Princeton Mortgage. It’s now possible to buy a home for $400,000 that would have sold for $500,000 in 2021.”.

Buyers 458

Buyers Mortgage Loan Officers Retail 458

Housing Wire

JANUARY 20, 2023

million, according to a report from the National Association of Realtors (NAR) released Friday. from 2021, which NAR attributes to the “rapidly escalating interest rate environment.” But as sales slowed in December, the inventory of unsold existing homes also receded, dropping 13.4% from November to a pace of 4.02 A total of 5.03

Inventory 376

Inventory Housing Market Realtors Buyers 376

Housing Wire

NOVEMBER 4, 2022

The National Association of Realtors (NAR) released a report on Friday that found 88% of all first-time homebuyers in the U.S. 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%. million in 2021, up from 50.5

Buyers 384

Buyers Sellers Real Estate Agent Real Estate 384

Housing Wire

MAY 10, 2022

As the calendar has turned to May, and the Realtor Legislative Meetings have come to a close, it’s a good time to reflect on research that was released last month and throughout early 2022. These reports highlight the difference home buyers and potential home buyers have when embarking on the buying process.

Housing Market 443

Housing Market Realtors Buyers Inventory 443

Housing Wire

JULY 13, 2021

But recently, we’ve started to see buyers get cold feet. Two of my buyers just had their offers accepted because the sellers’ first buyers backed out. The market is still competitive, but buyers are more trepidatious than they were at the start of 2021, and less willing to pull out every stop in order to win.”

Inventory 500

Inventory Housing Market Real Estate Agent Buyers 500

Housing Wire

MAY 10, 2021

So much so, in fact, that Harrisburg is ranked seventh on Realtor.com’ s list of housing markets positioned for the most growth in 2021 — ahead of Denver, Los Angeles, Las Vegas, San Diego and Dallas. Low home prices, large lots, and an up-and-coming downtown area, said Toni Reinhart, a realtor for Iron Valley Real Estate in Harrisburg.

Buyers 234

Buyers Real Estate Agent Real Estate Inventory 234

Housing Wire

FEBRUARY 10, 2023

Kechian – who was Scotsman Guide ’s eighth top LO in 2021 – saw demand for mortgages triple after the first week of January compared to a month ago as mortgage rates declined and people adjusted to seeing rates at 6%-levels. Buyers seem like they can’t get a break,” Kechian said. in the fourth quarter of 2022.

Marketing 368

Marketing Inventory Loan Officers Buyers 368

Housing Wire

MAY 28, 2021

But in the hot housing market of 2021, even those homes are getting immediate, multiple offers when they hit the market. year over year in March 2021, per a report from Norada Real Estate Investments. . year over year in March 2021, per a report from Norada Real Estate Investments. “I mean, it’s California, right?

Buyers 316

Buyers Real Estate Agents Inventory 316

Housing Wire

MARCH 18, 2022

The National Association of Realtors reported that existing home sales for February came in as a miss of estimates at 6.02 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

Housing Market 542

Housing Market Marketing Inventory Sellers 542

Housing Wire

JUNE 21, 2022

The National Association of Realtors (NAR) reported that existing home sales for April came in at 5.41 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.

Housing Market 540

Housing Market Marketing Inventory Mortgage 540

Housing Wire

SEPTEMBER 22, 2022

Today the National Association of Realtors reported that existing home sales fell once again to 4.80 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. Total Inventory data fell in this report from 1.31 million to 1.28

Inventory 458

Inventory Housing Market New Listings Mortgage 458

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. Once total inventory levels reach 1.52-1.93

Inventory 512

Inventory Housing Market Marketing Realtors 512

Housing Wire

MAY 19, 2022

The National Association of Realtors reported Thursday that existing home sales for April came in at 5.61 This is something that I said would change the tone of housing, and we are seeing that result this year as sales decline and inventory picks up. from April 2021 ($340,700), as prices increased in each region. Wait, what?

Housing Market 524

Housing Market Marketing Inventory Realtors 524

Housing Wire

FEBRUARY 28, 2022

On Friday, the National Association of Realtors released its pending home sales data showing a third month of declines. From NAR : “Pending home sales slumped in January, continuing what is now a three-month drop in transactions, the National Association of Realtors reported. Of the four major U.S. million – 6.2

Inventory 410

Inventory Housing Market Realtors Marketing 410

Housing Wire

SEPTEMBER 30, 2020

Realtors can usually count on their biggest season being spring, followed by summer, but nothing about 2020 has been normal, including home-buying patterns. ” 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.

Real Estate Agent 546

Real Estate Agent Real Estate Agents Realtors 546

Housing Wire

NOVEMBER 18, 2022

“More potential homebuyers were squeezed out from qualifying for a mortgage in October as mortgage rates climbed higher,” National Association of Realtors Chief Economist Lawrence Yun said in a statement. Total housing inventory at the end of October was 1.22 Total housing inventory at the end of October was 1.22 ”

Housing Market 418

Housing Market Marketing Inventory New Listings 418

Housing Wire

SEPTEMBER 22, 2022

from the beginning of this year, but they may have not peaked, putting pressure on affordability challenges for most prospective buyers as the Federal Reserve vows to tame inflation. million units last month from July, according to the National Association of Realtors (NAR). Mortgage rates have nearly doubled to around 6.5% in 2023.

Mortgage 420

Mortgage Loan Officers Buyers Inventory 420

Housing Wire

JUNE 22, 2021

million, the National Association of Realtors reported on Tuesday. “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. Unsold inventory sits at a 2.5-month

Inventory 420

Inventory Buyers Realtors Housing Market 420

Housing Wire

OCTOBER 28, 2021

“It’s worth noting that there will be less inventory until the end of the year compared to the summer months, which happens nearly every year.”. Yun expects inventory levels to pick up again in 2022 and that buyers who have temporarily paused their search will return to the market in the new year. in 2022.

Inventory 421

Inventory Renovations Contracts Buyers 421

Housing Wire

FEBRUARY 18, 2022

Homebuyers flocked to what little inventory existed in January, with existing-home sales rising 6.7% annually to $350,000, according to the Friday report from the National Association of Realtors. from the prior month to a seasonally adjusted annual rate of 6.5 January sales fell 2.3% from a year ago. That translates to just 1.6

Supply Chain 410

Supply Chain Inventory Buyers Contracts 410

Housing Wire

NOVEMBER 30, 2020

in October – the second consecutive month the index has fallen as affordability strains the market, a recent report from the National Association of Realtors said. Realtors cited a combination of high demand and low inventory, which are making conditions more competitive and exerting upward pressure on prices.

Realtors 534

Realtors Inventory Contracts Development 534

Housing Wire

APRIL 23, 2021

soared 18% year-over-year in March 2021 to a median of $356,000, according to a report Redfin released Friday that provided stark evidence of a housing market where demand greatly exceeds supply. A National Association of Realtors’ report from 2020’s end found the highest volume of home sales since 2006. Home prices in the U.S.

Inventory 441

Inventory Housing Market Realtors Marketing 441

Housing Wire

MARCH 19, 2024

President Joe Biden will be in Las Vegas on Tuesday, where he will offer additional remarks about the policies and priorities of his administration’s push to address housing issues for renters and buyers alike. Biden will also highlight the money offered to states in the 2021 American Rescue Plan Act to boost affordable housing supply.

Sellers 350

Sellers Buyers Realtors Investing 350

Housing Wire

APRIL 20, 2022

The National Association of Realtors reported that existing home sales for March came in as a miss of estimate at 5.77 However, the real story of 2022 is that the savagely unhealthy housing market continues as inventory is still lower than last year, sending home prices growth into double digits again. Unsold inventory sits at a 2.0-month

Housing Market 491

Housing Market Marketing Inventory Mortgage 491

Housing Wire

NOVEMBER 6, 2020

That renewed interest is being felt on the ground, according to Keller Williams Realtor Danielle Buchbinder. Inventory is too low, people need to decide to sell their houses,” Buchbinder told HousingWire. There are] a lot more buyers than there are sellers right now, causing an increase in purchase prices,” Buchbinder said. “A

Housing Market 407

Housing Market Marketing Inventory Buyers 407

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.

Mortgage 450

Mortgage Inventory Contracts Buyers 450

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.

Agents 408

Agents Buyers Sellers Inventory 408

Lamacchia Realty

DECEMBER 11, 2023

THE HIDDEN COSTS OF SELLING YOUR HOME WITHOUT A REALTOR® There is no denying it, the housing market has been a rollercoaster over the last several years. From the Covid-19 driven frenzy in 2020 to the significant inventory slowdown this year , buyers , sellers , and agents have all had adapt and grow comfortable with change.

Realtors 72

Realtors Real Estate Agent Sellers Realty 72

Housing Wire

SEPTEMBER 23, 2021

Khater said that homebuyers are soaking up all available inventory, which has improved slightly, while home-price growth is also moderating. Mortgage rates have been in a deadlock for the past two months, struggling to crest 3%, despite expectations that 2021 would bring higher levels. But that may soon change.

Mortgage 450

Mortgage Inventory Construction Technology 450

Housing Wire

DECEMBER 28, 2021

But — in the same beat — Caporale added, “There is still a massive influx of buyers, and I am not seeing a significant drop in demand.” real estate in 2022 may see challenges to its biggest enterprises, including the National Association of Realtors and Zillow , and shifting adjustments to how work is done amid the coronavirus pandemic.

Real Estate 450

Real Estate Realty Brokerage Realtors 450

Housing Wire

NOVEMBER 8, 2023

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 slide, presented in March 2021, forecasted that Offerpad would sell nearly 15,000 homes in 2023. “The largest, undisrupted market in the U.S.,”

Marketing 420

Marketing Inventory Renovations Investors 420

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.

Agents 409

Agents Real Estate Agent Brokerage Real Estate 409

Housing Wire

MAY 20, 2022

According to the Hilton Head Area Association of Realtors , the median home sale price jumped 15.3% in 2021 to $330,745. “It This rapid increase in prices, coupled with local housing inventory dropping over 50% in 2021, has meant times are tough for buyers looking to settle in Bluffton. Greenwich, Connecticut.

Housing Market 403

Housing Market Marketing Real Estate Agent Real Estate 403

Housing Wire

MAY 5, 2022

Those people need somewhere to live, and there’s precious little rental inventory available, with apartment vacancies between 2-5%, depending on whose numbers you believe, but in either case being historically low. lower than it was in March 2021. compared to the previous year, according to the California Association of Realtors.

Housing Market 370

Housing Market Marketing Inventory Buyers 370