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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Housing Wire

FEBRUARY 24, 2022

Fast forward to Thursday, and Opendoor reported losing $662 million in 2021. Opendoor’s losses came after iBuyer Offerpad announced it made $6 million in net income for 2021. Opendoor resold 21,725 of the homes it bought in 2021, up 119% from 2020. billion in unsold real estate inventory. The company tallied $8.0

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Housing Wire

DECEMBER 29, 2021

What a year 2021 has been. economy continue to recover from the lows of April of 2020, but the 2021 economic data shows it has been one of the hottest years in many decades. The housing market didn’t crash at all, in fact, more Americans bought homes with mortgages in 2021 than in 2020. A bullish housing market.

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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. Listings jumped at both the state and city levels in 2021 and 2022. In this environment of high rates and tight inventory, brokerages have had to become sharp elbowed.

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Housing Wire

JUNE 2, 2022

I always try to focus people on the total inventory data until we get inventory back into a range of 1.52-1.93 HousingWire: To add to that, since housing is in an inventory shortage, the market has changed, so the good news is inventory is growing. What levels should we be hoping for? Then this happened.

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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. set during the first quarter of 2021. For all the transacting iBuyer’s did in 2021, only one was profitable: Offerpad, which posted $6.5 million in net income.

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Housing Wire

OCTOBER 21, 2020

Housing inventory and prices. Given the low interest rates that are driving demand, housing inventory has become a rising concern. MBA Associate Vice President of Industry Analysis Joel Kan explained that current inventory rests at just a three-month supply. In 2021, mortgage originations are expected to fall to around $2.49

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Housing Wire

SEPTEMBER 27, 2023

Fueling this increase is new construction, according to Divounguy, even though the 1.3% A steady flow of new homes have hit the market this spring and summer, as homebuilders worked diligently to remedy the housing inventory shortage. This year, Miami has claimed the fifth spot, jumping all the way from ninth as recently as May 2021.

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Eyes on Housing

MAY 26, 2021

The historic climb for lumber prices, combined with delays and higher costs for other building materials, is a significant limiting factor for home building in 2021. Read More ›

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Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). ” According to Yun’s forecast, mortgage rates will fall to between 6% and 7% by spring 2024.

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Eyes on Housing

FEBRUARY 17, 2022

The number of single-family built-for-rent (SFBFR) construction starts increased almost 16% in 2021, after a record-breaking third quarter for production.

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Housing Wire

NOVEMBER 3, 2023

While wages kept rising, October posted the slowest pace of wage growth since June 2021, according to Bright MLS Chief Economist Lisa Sturtevant. In October, construction employment continued to trend up, adding 23,000 more jobs, aligning with the average monthly gain of 18,000 over the prior 12 months.

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DataMaster

FEBRUARY 25, 2021

Millennial Homebuyers Rule 2021. That makes it important for real estate professionals to understand this group and the impact they had on the 2020 real estate market and the impact they will have on the 2021 market! Inventory is in Short Supply in 2021. Interest Rates in 2021. New Home Construction.

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Housing Wire

JANUARY 8, 2021

Due to massive losses in the servicing sector outnumbering professional and construction job gains, the raw number of nonfarm payroll employment fell by 140,000 – the first decline since April of last year. million Americans are still unemployed heading in to 2021. The department estimates 10.7 percent and 61.5

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Housing Wire

JUNE 21, 2023

This slow growth highlights that while demand is there and rates have fallen for three consecutive weeks, activity continues to be constrained by low levels of affordable inventory. Census Bureau data on new residential construction showed that housing starts rose 21.7% On Tuesday, U.S. from April, and were up 5.7%

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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.

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Housing Wire

SEPTEMBER 20, 2021

Limited inventory, supply chain disruptions and concerns about inflation have led economists at Fannie Mae to lower their mortgage origination forecasts for the remainder of this year and into 2022. Fannie Mae dropped its projected origination volume for 2021 to $4.33 GDP growth rate for 2021, while July had a 7.0% trillion.

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Housing Wire

DECEMBER 23, 2020

Construction continued to play catch-up also as Novembers new-home inventory rose nearly 14% to a 4.1-month Eager buyers have been snapping up available new homes, an increasing share of which have not even begun construction, at their highest pace in years. The West came in second at a 17.3%

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Housing Wire

OCTOBER 18, 2021

But on Monday the home listings giant called a timeout on purchasing homes through the end of 2021. Zillow will keep trying to sell existing home inventory, plus renovate and try to resell homes it has purchased under contract, according to a company press release. construction workers. billion in unsold home inventory.

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Housing Wire

JUNE 7, 2021

Because that period followed a housing boom and bust when inventory was overbuilt. We first had to whittle down the excess inventory and get our financial house in order (i.e., The previous economic expansion from 2008 to 2019 was the weakest housing recovery ever. We still have not seen housing starts begin the year at the level.

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Housing Wire

FEBRUARY 4, 2021

With inventory at record lows, demand surging and prices on the rise, buying — even just finding — a home in today’s market is quite the challenge. If buying a home is on your radar for 2021, there are still ways to do it. Are you hoping to buy a home in 2021’s hot housing market ? Will we have a buyer’s housing market in 2021?

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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. And don’t even think about making an offer below asking price in 2021, officials said. You won’t win the bidding war.

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Housing Wire

JULY 26, 2021

months , which puts inventory right back into the range we had in the previous expansion. months and above, the builders will pull back on construction. months and above, the builders will pull back on construction. From Census: For Sale Inventory and Months’ Supply: The seasonally?

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Housing Wire

NOVEMBER 3, 2020

nationally by September 2021 as higher prices erode affordability. COVID has contributed to the acute shortage of inventory as the pace of new construction slowed and older prospective sellers postponed listing their homes until after the pandemic. by September 2021. Despite home prices rising 6.7%

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Eyes on Housing

JANUARY 27, 2022

Real GDP growth accelerated in the fourth quarter of 2021 despite omicron’s spread. This quarter’s growth reflected strong gains in private inventory investment and consumer spending. in the fourth quarter of 2021, after a disappointing 2.3%.

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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.

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Housing Wire

JANUARY 6, 2022

In November 2021, the supply of homes for sale nationwide as a percentage of occupied residential inventory remained near historic lows at 1.19% — meaning only 119 in every 10,000 homes were for sale — much lower than the historical average of 2.5%. Since 2018, the housing supply deficit has been growing. What about existing homes?

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Housing Wire

JUNE 2, 2021

Mortgage applications dropped for the second straight week , this time down 4% for the week ending May 28, 2021, according the Mortgage Bankers Association ‘s weekly mortgage applications survey. This week’s data was compared to mortgage applications from the week of Memorial Day in 2020.

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Housing Wire

SEPTEMBER 22, 2022

million units this year from 2021, a further downward revision from August’s projected 16.2% In August, the national inventory of unsold existing homes was at 3.3-month In August, the national inventory of unsold existing homes was at 3.3-month The latest forecast also projects total mortgage origination activity at $2.44

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Housing Wire

MARCH 28, 2022

The one thing that has happened in 2022 that has been worse is that national inventory levels have worsened in 2022 to start the year. Inventory has been falling for years. 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

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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

FEBRUARY 18, 2022

Homebuyers flocked to what little inventory existed in January, with existing-home sales rising 6.7% Homes priced between $100,000 and $250,000 were down 23% from January 2021, while sales of homes priced between $750,000 and $1 million rose 33%. from the prior month to a seasonally adjusted annual rate of 6.5 January sales fell 2.3%

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Housing Wire

SEPTEMBER 22, 2022

We do not see new construction returning in a meaningful way any time soon. With the rate for a 30-year mortgage 300 basis points higher than 2021, the buyer of a median-priced home this week is facing a monthly payment that is 66% higher than the same week in 2021, Ratiu noted. Kurt Carlton, President of New Western. “The

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Housing Wire

FEBRUARY 8, 2022

Supply-side” solutions that focus on new construction and the preservation of the existing housing stock are equally important. Low housing inventory. In 2021, the overall rental vacancy rate dropped to 5.8% , the lowest level since the mid-1980s. In 2021, median rents grew by 17.8 %, another unprecedented increase.

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Housing Wire

DECEMBER 4, 2020

CoreLogic released its final three-year housing and mortgage outlook report for the year on Thursday, and if numbers hold up, the data company predicts 2021 will maintain its unprecedented sales and record low mortgage rates as the economy continues to recover. More importantly, he said the current environment may even holdup into 2023. “We

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DataMaster

FEBRUARY 25, 2021

Millennial Homebuyers Rule 2021 Millennials are Different Than Their Predecessors Millennial homebuyers are the largest homebuying group in the United States. That makes it important for real estate professionals to understand this group and the impact they had on the 2020 real estate market and the impact they will have on the 2021 market!

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DataMaster

FEBRUARY 25, 2021

Millennial Homebuyers Rule 2021. That makes it important for real estate professionals to understand this group and the impact they had on the 2020 real estate market and the impact they will have on the 2021 market! Inventory is in Short Supply in 2021. Interest Rates in 2021. New Home Construction.

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Inventory Buyers Construction Supply Chain 78