Housing Wire

NOVEMBER 17, 2022

For this reason, the number of housing units “under construction” is the largest ever recorded in history because they were taking so long to finish. For the builders, they have a new problem: they had homes under contract and then mortgage rates jumped in the biggest fashion ever recorded in history. When supply is 4.3

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Contracts Construction Supply Chain Marketing 545

Housing Wire

MARCH 17, 2022

Census Bureau released their construction report for February, showing a positive trend in housing construction data with a lovely print in housing permits at 1,859,000 and housing starts at 1,769,000. So far, housing construction has done well during 2020-2022 considering the economic drama. Today, the U.S.

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Construction Housing Market Inventory Buyers 466

Appraisal Today

APRIL 5, 2024

A Black couple in Baltimore – Dr. Connolly and Dr. Mott, both university professors – filed suit in August 2022 alleging racial discrimination against loanDepot.com and the appraiser it engaged to appraise their home for a refinance. Appraisers should consider the potential impact, especially in markets with significant new construction.

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Appraisal Contracts Business Construction 76

Empire Appraisal Group

JANUARY 11, 2023

But even though mortgage rates and home prices are expected to moderate, home sales may still sag under persistent inventory shortages, housing economists predict. Housing inventory is expected to remain tight in 2023, with housing starts below historical averages and fewer homeowners willing to sell, said NAR Chief Economist Lawrence Yun.

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Housing Wire

MAY 22, 2023

in March and have generally trended upward since the fall of 2022. Existing home sales have been largely in line with the ESR Group’s recent forecast of further gradual declines throughout the year, which were expected due to affordability constraints and tight existing home sales inventory of existing homes for sale.

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Construction Inventory Government Contracts 397

Empire Appraisal Group

SEPTEMBER 8, 2022

The housing market has taken a few hits, such as a doubling of mortgage rates in 2022, but it remains solid even if legitimate news providers suggest doom and gloom. Scary times: builders are slashing home prices and slowing construction as buyers pull back, survey shows” (MarketWatch). Nowhere in Sight. Source: U.S. The post U.S.

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Housing Market Marketing Real Estate New Listings 78

Housing Wire

JANUARY 19, 2023

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said.

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Inventory Housing Market Marketing Construction 421

Housing Wire

MARCH 6, 2024

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday. Residential construction costs started to moderate this period.

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Mortgage Real Estate Inventory Construction 421

Housing Wire

JANUARY 19, 2023

As the housing market slowed from its frenzied peak in 2022 due to soaring mortgage rates, homebuilders pulled back. An estimated of 1.533 million housing units were started in 2022, down 3.0% Homebuilders closed out 2022 with an annual housing start rate of 1.382 million units in December, down 1.4% Census Bureau and the U.S.

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Inventory Construction Development Housing Market 397

Housing Wire

DECEMBER 20, 2022

It’s fair to say that 2022 has been a depressing year for homebuilders. After record sales in 2021, demand for new construction waned throughout 2022 as the Federal Reserve raised interest rates cutting into home buyer’s purchase power and making financing new development projects even more costly for builders.

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Housing Wire

MAY 23, 2023

percent)* above the April 2022 estimate of 611,000. Last year, while the Census Bureau was reporting the new home sales numbers and the builders were having high cancellation rates, the monthly sales report didn’t account for the cancellations of contracts. months and above, the builders will pull back on construction.

Inventory 520

Inventory Housing Market Construction Marketing 520

The Robert Weiler Company

APRIL 5, 2023

Almost one-third of new warehouse space for lease is snatched up before the construction project is complete. in Q3 of 2022 and rents increased by 25% year-over-year. Renters are outpacing the construction of industrial units and warehouses. JLL reported that industrial vacancies reached a record-breaking low of 3.3%

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Landlords Tenants Logistics Real Estate 144

Housing Wire

SEPTEMBER 12, 2023

So, the author tried to use new construction prices from back in April to describe the whole U.S. New contracts dipped as affordability is out of reach for so many. Inventory is very low and just inching up now week over week late in the summer. Before that change, it looked as though inventory had peaked for the year.

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Contracts Inventory Housing Market Buyers 410

Housing Wire

JANUARY 19, 2024

from December 2022 to $382,600 – the sixth consecutive month of year-over-year price increases. Remember, with median sales prices and inventory, it’s very seasonal. However, remember, the dive in inventory is normal at this time of the year. from December 2022 ($366,500). Sales faded 6.2% from the previous year.

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Housing Market Inventory Contracts Marketing 473

Housing Wire

FEBRUARY 16, 2023

Last year we had monthly existing home sales collapse back to 2007 levels, except this time around, NAR has total inventory at 970,000 and not over 4 million. In an odd twist of fate, the delays due to COVID-19 are currently an infrastructure and jobs program for Americans in the construction industry. percent (±15.9 percent (±10.6

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Construction Housing Market Inventory Mortgage 522

Housing Wire

OCTOBER 26, 2022

From Census : New Home Sales of new single-family houses in September 2022 were at a seasonally adjusted annual rate of 603,000, according to estimates released jointly today by the U.S. The builders will pull back on construction when the supply is 6.5 From Census: For Sale Inventory and Months’ Supply, The seasonally?adjusted

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Construction Inventory Contracts Buyers 466

Hank Miller Team

JULY 12, 2023

The first half of the Atlanta 2023 housing market shared many similarities with the first half of the 2022 real estate market. Atlanta Home Prices Q2 2023 The MSM was ebullient, just delighted when the housing market hit the brakes in the last half of 2022. Fewer buyers, fewer contract and sales. Not Greater Atlanta.

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Housing Market Marketing Buyers Sellers 40

Appraisal Today

JUNE 17, 2022

NOTE: Please scroll down to read the other topics in this long blog post on real estate market, USPAP and contracts, unusual homes, mortgage origination stats, etc. ==. The way that we did that was through cantilevers and using structural engineers and steel to help us to construct the home that we absolutely wanted.”.

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Appraisal Today

AUGUST 18, 2023

That’s because scarce inventory is driving up prices, pushing many homes on the cusp over the seven-figure mark. homes are worth $1 million or more, near June 2022’s all-time high of 8.6%. percent, matching October 2022’s rate and the highest rate since 2001,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist.

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Appraisal Contracts Inspection Real Estate 74

Appraisal Today

SEPTEMBER 22, 2023

Ohio, for instance, was the seventh most populous state in 2022, and also had the seventh largest number of state tips that year at 46. Texas received our highest number of tips (86) in 2022, consistent with its rank as the second most populous state, impacting about 1.5% One of the best Fannie monthly updates I have read!

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Appraisal Training Inspection Real Estate 85

Housing Wire

JULY 25, 2022

Housing demand weakened noticeably as growing concerns about affordability contributed to non-seasonal declines in sales, resulting in a slight increase in inventory and more moderate price appreciation,” states the Federal Reserve’s most recently released Beige Book report — based on data and reports current as of mid-July.

Housing Market 397

Housing Market Marketing Supply Chain Real Estate 397

Appraisal Today

JUNE 10, 2022

Not much work probably compared with 2020-2022. Construction started in 2001 and took three years to complete with two bedrooms, 2 bathrooms, and a swimming pool. Jun 7, 2022. recession to begin in 2023, which gathered more votes than 2022 (30%), 2024 (8%) or 2025 and beyond (17%). This is the past.

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Appraisal Today

DECEMBER 8, 2023

The last unit they bought was in mid-2022 as far as I can tell… To read more, plus the 45+ appraiser comments, Click Here Investor Home Purchases Are Down Over 40% in Sun Belt Pandemic. That’s partly because sale-price data is a lagging indicator, reflecting deals that went under contract a month or two ago. percent the previous week.

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Appraisal Real Estate Contracts Design 66

Housing Wire

DECEMBER 1, 2022

“Higher interest rates further dented home sales, which declined at a moderate pace overall but fell steeply in some Districts,” the report states, noting that “residential construction slid further at a modest pace” and “home prices grew less rapidly or declined outright amid weak demand.”. million in 2023 from 5.67 trillion from $2.34

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Housing Market Marketing Construction Inventory 370

Housing Wire

OCTOBER 21, 2021

“The gain in existing home-sales in September reflects contracts signed earlier in the summer,” Mike Fratantoni, MBA SVP and chief economist said in a statement. Year-over-year, inventory of unsold homes decreased 13% in September to 1.27 The median existing-home sales price rose again in September to $352,800, a 13.3%

Inventory 410

Inventory Buyers Realtors Contracts 410

Housing Wire

JULY 6, 2023

The purchase deal includes Truland’s homebuilding assets, which consist of approximately 263 lots, 155 homes in inventory, and 55 homes in the sales order backlog. Truland Homes had an impressive performance in calendar year 2022, closing 512 homes with a total revenue of $244 million. Horton family,” Donald R.

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Contracts Development Insurance Construction 370

Housing Wire

FEBRUARY 21, 2023

Affordability constraints and tight inventories will continue to limit home sales and the 10-year Treasury has moved up meaningfully since the completion of our interest rate forecast, suggesting mortgage rates will soon be back on the rise,” according to the ESR group. trillion in 2022. for the next year. trillion in 2023 and $2.03

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Inventory Mortgage Housing Market Contracts 384

Housing Wire

APRIL 29, 2021

The trade group reported that pending home sales – that is homes where a buyer signed a contract, but the sale has not closed – rose 1.9 % index points to 111.3 Though homes in contract are not always closed, the index figure is a strong indication that home sales will rebound in the coming months after an inventory-induced decline.

Contracts 421

Contracts Inventory Construction Realtors 421

Appraisal Today

OCTOBER 20, 2023

In June of 2022, one year after completing the original appraisal report, I received an email from the AMC stating the lender had received a repurchase demand from Fannie Mae. Note: This update does not apply to newly constructed manufactured homes because these items must be present on all new units. The ARM share was 9.3

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Housing Wire

MAY 24, 2022

Except now, we have had massive price gains in 2020, 2021 and 2022. family houses in April 2022 were at a seasonally adjusted annual rate of 591,000, according to estimates released today by the U.S. From Census: Sales Price The median sales price of new houses sold in April 2022 was $450,600. From Census : Sales of new single?family

Housing Market 397

Housing Market Inventory Construction Marketing 397

Appraisal Today

JULY 8, 2022

Excerpt: On May 1,8, 2022 the Subcommittee on Economic Opportunity held a legislative hearing on the Discussion Draft of H.R. Home Loan Act of 2022… It would require the V.A. Excerpts: Built sometime in the late 19th century, a Victorian-era row house was constructed on St. Proposal to Eliminate the V.A. Half House in Toronto.

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Appraisal Property Taxes Contracts Mortgage 52

Housing Wire

APRIL 28, 2022

.” Lawrence Yun, chief economist for the NAR , said the dip in contract signings suggests “multiple offers will soon dissipate and be replaced by much calmer and normalized market conditions.”. by the fourth quarter, resulting in a 2022 mortgage rate average of 4.9%. Yun forecasts the 30-year fixed mortgage rate will reach 5.3%

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Housing Market Marketing Contracts Mortgage 332

The Robert Weiler Company

SEPTEMBER 7, 2022

Data through the first half of 2022 has been tallied on Ohio land for sale. All indicators show an extremely positive trend that will likely continue through the rest of 2022 and beyond. As a whole, commercial real estate has seen great success in 2022, despite rising interest rates. Homes sales reached 14,210 in May 2022, a 1.8%

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Marketing Real Estate Investing Retail 78

Housing Wire

JANUARY 20, 2023

million units, declining from its final estimate of total sales in 2022 and marking the slowest annual pace since 2010, according to its Economic and Strategic Research Group. “We Inventory remains tight , and the overall housing stock is well below what long-run demographic trends suggest is needed, according to the group.

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Mortgage Housing Market Buyers Contracts 397

Housing Wire

AUGUST 23, 2022

So for now, the builders will take their time with the homes under construction and make sure they offer enough incentives to unload the new home supply they’re dealing with. family houses in July 2022 were at a seasonally adjusted annual rate of 511,000, according to estimates released jointly today by the U.S. When supply is 4.4

Construction 370

Construction Housing Market Sellers Marketing 370

Housing Wire

DECEMBER 31, 2021

This article is part of our HousingWire 2022 forecast series. After the series wraps early next year, join us on February 8 for the HW+ Virtual 2022 Forecast Event. But many of those elements are fading as the industry heads into 2022. In 2022, refi origination volume is expected to drop by 62% to about $860 billion.

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Marketing Law Government Mortgage 432

Raleigh Realty

FEBRUARY 19, 2022

Not only does this help new agents learn all the inventory in their local markets but it also gets them familiar with driving through all the subdivisions and neighborhoods. Be careful with marketing programs that need 6 months or even one-year contracts. Do read the fine print about canceling the contract. Learn the contracts.

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