Housing Wire

FEBRUARY 20, 2023

Another week down in 2023 and we’re seeing crazier action in the housing market as purchase application data fell, mortgage rates rose again, and weekly inventory took another dive with a noticeable move lower in new listing data. Mortgage rates hit 6.80%, marking the high point for 2023 so far. Weekly inventory change (Feb.10-Feb.

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Inventory Housing Market Mortgage Marketing 405

Housing Wire

JULY 2, 2023

Housing inventory finally broke under 2022 levels last week. Mortgage rates rose last week after the better-than-anticipated jobless claims data but even with higher rates, we also had a third week of positive purchase application data. In March of 2022 we had the lowest inventory levels ever recorded in history.

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Inventory Housing Market Marketing New Listings 458

Housing Wire

APRIL 16, 2023

The seasonal housing inventory bottom evaded us again last week as active listings fell and new listing inventory decreased. Mortgage rates didn’t move much last week, but the 10-year yield rose even though inflation data was tamer than expected, and we had a weaker retail sales report number. The answer is no!

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Inventory Housing Market Marketing New Listings 537

Housing Wire

APRIL 30, 2023

The spring housing market music is playing, and purchase application data and active listing inventory rose together last week. The fear of not having an increase in inventory this spring should be put to rest. The other focus should be where mortgage rates go; only a little happened last week.

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Inventory Housing Market Marketing New Listings 520

Housing Wire

AUGUST 10, 2022

One of the most important housing market stories in recent weeks has been the decline in new listings , which has slowed the growth rate of total inventory. One thing that I have stressed is that higher mortgage rates can create a slowdown in demand and thus allow more inventory to accumulate through a weakness in demand.

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Inventory New Listings Housing Market Sellers 522

Housing Wire

JANUARY 20, 2023

On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. million in January down to about 4 million in December, We now have total inventory levels near all-time lows again. from December 2021 ($358,800), as prices rose in all regions.

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Inventory Housing Market New Listings Marketing 541

Housing Wire

DECEMBER 9, 2023

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. This happened even with higher home prices and higher mortgage rates in 2023. Now lets take a look at the weekly inventory data.

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Mortgage Inventory New Listings Sellers 532

Housing Wire

JUNE 25, 2023

Summer is here, and housing inventory is finally growing! The spring housing inventory was like a zombie rising from the grave, very slow, but the summer is showing some promise and let’s hope it continues. Mortgage rates were again in a small range, hanging near 7%. Purchase apps had a small week-to-week gain.

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Inventory Housing Market Marketing New Listings 410

Housing Wire

DECEMBER 2, 2023

Mortgage rates almost fell below 7%, the 10-year yield is below 4.25% again, and people are seriously talking about Fed rate cuts in 2024. Mortgage rates have fallen by almost 1% in a short time, and it has created four straight weeks of positive purchase application data. Mortgage rates and the 10-year yield We are back!

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Mortgage Inventory New Listings Sellers 543

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 540

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. Inventory issues. Emerging out of the pandemic, the first half of 2021 showed that there is a historically low housing inventory across multiple markets in the U.S. All about the rates.

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Mortgage Inventory Real Estate Technology 512

Housing Wire

MARCH 6, 2024

Housing professionals already know that high mortgage rates are bad for business. But with mortgage rates ascending past 7% according to HousingWire’s Mortgage Rates Center , those hopes have so far been dashed in 2024. Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates.

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Mortgage Sellers New Listings Buyers 430

Housing Wire

JULY 7, 2021

Sellers, rejoice. in June 2021. One group that continues to feel the pain of high home prices is first-time homebuyers — even with mortgage rates remaining at historically low levels, said Doug Duncan, Fannie Mae’s senior vice president and chief economist. That’s up from 67% the prior month. points to 79.7

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Sellers Inventory Housing Market Design 508

Housing Wire

MARCH 2, 2023

And just like the bears who are starting to wake up from their long winter naps, homebuyers and sellers are coming out of hibernation… or at least they normally do. According to Mike Simonsen, the president of Altos Research , to see housing inventory fall throughout February, as it has this year, is pretty unusual.

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Real Estate Agent Inventory Real Estate Agents 394

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 520

Housing Wire

FEBRUARY 6, 2023

Despite mortgage rates briefly falling below the 6% threshold, both housing inventory and mortgage demand fell last week. However, we are going to see if 6% mortgage rates are good enough to create some growth in the future or if the housing market needs rates near 5%. Weekly inventory change (Jan.

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Inventory Housing Market Marketing New Listings 464

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 524

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. As mortgage rates rose more and more, the October to January data was going to show big negative prints.

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Inventory Marketing Housing Market New Listings 473

Housing Wire

DECEMBER 7, 2022

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? However, mortgage rates have fallen more than 1% since the recent highs, so it’s time to look at the data to explain how to interpret it.

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Housing Market Mortgage Marketing Inventory 544

Housing Wire

JULY 29, 2022

That marks the first month since July 2019 (pre-pandemic) that housing inventory increased year over year. The home-inventory bump dovetails with other data indicating the nation’s housing market lost some steam this past month, according to a June housing-market report from Seattle-based Redfin. “The percentage points from June 2021.

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Inventory Housing Market Inspection Marketing 466

Housing Wire

NOVEMBER 29, 2021

in October — and since we are days away from December, we can officially label the 2021 housing crash bears as even worse than the 2020 housing crash bears. As we can see below, housing moderated, found a base and moved higher toward the second half of 2021. So far, 2020 and 2021 have come in as a noticeable beat in my eyes.

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Inventory Contracts Training Investors 530

Housing Wire

JANUARY 8, 2021

As we think about coming out of this first month of the year, we’ve quickly realized this year is going to be anything but planned or what we in the mortgage lending industry are used to. But for others, low mortgage rates gave way to pre-approved borrowers struggling in a very competitive seller’s market.

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Lending Mortgage Inventory Business 450

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. billion revenue, which mostly stems from a 5% sales fee charged to home sellers and proceeds from flipping homes. billion in unsold real estate inventory.

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Investors Real Estate Inventory Finance 432

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.

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Inventory Marketing Business Buyers 370

Housing Wire

DECEMBER 16, 2023

The Federal Reserve played the good grinch for Christmas this year and delivered the best gift for homebuyers nationwide, leading to lower mortgage rates. The 10-year yield and mortgage rates fell together after the Fed meetings, which gave us mortgage rates under 7% last week. Weekly inventory change : (Dec.

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Inventory New Listings Mortgage Law 535

Housing Wire

JANUARY 6, 2024

I believe this was the most overlooked housing story of the last year because even as mortgage rates rose all the way to 8% , the home price cut percentage data was always about 4% lower year over year. Now that mortgage rates have fallen and as we start the brand new year, we need to focus on this data line more.

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Inventory New Listings Housing Market Mortgage 542

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.

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Inventory Housing Market New Listings Buyers 490

Housing Wire

JANUARY 4, 2021

Will 2021 be more of the same? 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. For example, home prices are still expected to rise in 2021, but at a smaller pace than we’ve seen this year. Is 2021 a good time to buy a house? Let’s take a look.

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Housing Market Marketing Buyers Real Estate Agent 546

Housing Wire

APRIL 7, 2021

And now, with the COVID-19 vaccine circulating and the economy slowly regaining strength, Zillow researchers say millions of additional households could enter the housing market in 2021. While moving itself can be stressful, changing zip codes in 2020 and 2021 seems to be eliciting mostly happiness. and Austin.

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Housing Market Marketing Real Estate Technology 545

Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. in August 2022 and marks the highest percentage since October 2022, when mortgage rates surpassed 7% for the first time in two decades. The average interest rate on a 30-year-fixed mortgage was 7.07% in August.

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Buyers Mortgage New Listings Real Estate Agent 419

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). He also expects more sellers to enter the market, as they adapt to prolonged higher rates.

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Real Estate Inventory Sellers Realtors 458

Housing Wire

MARCH 5, 2024

Mortgage assumption is a niche option that gained momentum in 2023. 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.

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Mortgage Buyers Agents Real Estate Agent 433

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 Market Marketing Construction Mortgage 532

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% Will Savage, an LO at PMC Mortgage. Before the Federal Reserve raised the federal funds rate by 0.75

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Mortgage Loan Officers Buyers Inventory 420

Housing Wire

OCTOBER 3, 2022

Home prices are now posting the biggest monthly declines since January 2009, according to the latest Mortgage Monitor report from Black Knight. With mortgage rates at 6.7% of the median household income to make the monthly mortgage payment on the median-priced home bought with a 30-year mortgage and 20% down, Black Knight said.

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Inventory Home Value Housing Market Mortgage 527

Housing Wire

NOVEMBER 2, 2022

And with Fed rates expected to rise even further, industry experts and economists don’t expect mortgage rates to stabilize for at least another year. Mortgage rates , which are currently near a 22-year high, declined slightly from last week ahead of the Fed’s sixth rate hike announcement. million in September 2021.

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Mortgage Sellers Contracts Buyers 409

Housing Wire

DECEMBER 21, 2022

In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! “The principal factor was the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. . Plus, available housing inventory remains near historic lows.”

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Inventory New Listings Housing Market Sellers 527