Housing Wire

OCTOBER 1, 2022

However, there are a number of attention-grabbing headlines, which unfortunately only compare today’s housing market to the very recent history of the last two years. It is always good to know where we are with the real estate market, but it is essential to keep all data in historical perspective. . Historically 2.5

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Housing Wire

FEBRUARY 15, 2024

billion net loss in 2022 due to the drastic housing market slowdown in the second half of the year, Opendoor greatly curtailed its spending and home acquisition speed in 2023. Indicative of Opendoor’s scaled-back approach to business was the fact that it bought just 11,246 homes in 2023, compared to 34,962 homes in 2022.

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Housing Wire

MAY 25, 2023

After falling for the first time since November 2022 in March , pending home sales remained unchanged in April, according to data released Thursday by the National Association of Realtors (NAR). An index of 100 is equal to the level of contract activity in 2001. annual drop recorded in March.

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Housing Wire

SEPTEMBER 28, 2023

below the August 2022 level. An index of 100 is equal to the level of contract activity in 2001. Pending home sales, like new home sales, are based on contract signings. Yun also expressed concern about a possible government shutdown, which could worsen the conditions in the housing market. “It

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Housing Wire

OCTOBER 31, 2023

In August, pending home sales , existing home sales and new home sales all fell compared to the previous month, as mortgage rates climbed and inventory remained scarce. The Case-Shiller index measures repeat sales data and reflects a three-month moving average, meaning that the August data includes homes that went into contract in June.

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Housing Wire

NOVEMBER 21, 2023

Compared to October 2022, existing home sales slumped 14.6%, down from 4.44 Homes typically go under contract a month or two before the closing, which means the October data largely reflects purchase decisions made in August and September. On the bright side, housing inventory rose 1.8% months in October 2022.

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Appraisal Buzz

DECEMBER 27, 2021

The housing market was hotter than ever last year, with pandemic-driven demand boosting home sales to their highest level in 14 years. 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.

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Housing Wire

MARCH 29, 2023

Pending home sales rose for the third month in a row in February, but at 0.8%, the uptick over January was less than is typically seen in the run-up to the spring housing market. Month-over-month, contract signings increased in three U.S. Overall, contract signings were down 21.1% from February 2022.

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Housing Wire

AUGUST 3, 2023

The firm’s revenues came in at $2 billion in the second quarter of 2023, down 37% compared to the previous quarter and 53% related to 2Q 2022. Total operating expenses declined to $217 million, compared to $294 million in Q1 2023 and $454 million in Q2 2022. housing market,” Wheeler said.

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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. through the rest of 2022. Census and the Department of Housing and Urban Development. I think it’s already priced in the market.”.

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Housing Wire

OCTOBER 28, 2021

An index level of 100 is equal to the level of contract activity in 2001. Contract transactions slowed a bit in September and are showing signs of a calmer home price trend, as the market is running comfortably ahead of pre-pandemic activity,” Lawrence Yun, NAR’s chief economist, said in a statement.

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Housing Wire

DECEMBER 23, 2022

Census Bureau and the Department of Housing and Urban Development (HUD) on Friday. New home sales data last month was much stronger than had been anticipated; the market had expected a contraction of 4.7% Since July, about 10,000 contracts have been canceled each month, according to data from John Burns Consulting.

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Housing Wire

FEBRUARY 28, 2022

Even though the recent existing-home sales data has been outperforming my expectations , the pending home sales data to me looks more in line with my expectations for 2022. regions, only the West registered an increase in month-over-month contract activity. 2022 Pending home sales. Of the four major U.S. We ended 2020 with 5.64

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Housing Wire

APRIL 15, 2021

Inventory is low, like it is throughout the country, and that’s driving up demand. Inventory in Kingston and Ulster County isn’t likely to get better anytime soon, according to local builders. . ” The post Kingston is latest hot housing market for those leaving NYC appeared first on HousingWire. .

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Housing Wire

SEPTEMBER 22, 2022

The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . Since the summer of 2020, I have talked about what could change the housing market, which was a 10-year yield above 1.94%, which means rates over 4%.

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Housing Wire

FEBRUARY 28, 2023

The 2022 housing market was largely characterized by the swift slowdown in demand caused by rapidly rising mortgage rates. year over year in 2022, according to data from the National Association of Realtors , home prices still managed to rise 5.8% Low inventory has propped up home prices in many markets,” she said.

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Housing Wire

FEBRUARY 21, 2023

Existing home sales started 2023 right where they left off at the end of 2022, dropping for the 12 th consecutive month. January sales reflect purchase contracts made in November or December, and there is evidence that in many markets, the housing market has bottomed out and buyers are beginning to return to the market.”

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Housing Wire

DECEMBER 16, 2022

This article is part of our Housing 2022-23 forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business.

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Housing Wire

MAY 10, 2022

This article is part of our housing market economic update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. In February, NAR in partnership with Realtor.com released The Double Trouble of the Housing Market report. For Asian Americans the rate is 61.7%

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Housing Wire

APRIL 27, 2023

For the first time since November 2022, pending home sales fell in March, posting a 5.2% An index of 100 is equal to the level of contract activity in 2001. An index of 100 is equal to the level of contract activity in 2001. Limited housing supply is simply not meeting demand nationally.” year over year.

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Listing Spark

JUNE 21, 2022

Unless you’ve been living underneath a rock, you have likely heard talks of a housing market bubble that could burst at any moment. Back then, terrible lending regulations, a surplus of inventory, and little to no equity for homeowners was a recipe for disaster. How do we know the housing market is shifting?

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Housing Wire

SEPTEMBER 15, 2023

of homes that went under contract that month, according to a new report from Redfin. in August 2022 and marks the highest percentage since October 2022, when mortgage rates surpassed 7% for the first time in two decades. home sale price rose 3% year over year to $420,846 in August, the largest annual increase since October 2022.

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Housing Wire

SEPTEMBER 29, 2022

An index of 100 is equal to the level of contract activity in 2001. The direction of mortgage rates – upward or downward – is the prime mover for home buying, and decade-high rates have deeply cut into contract signings,” Lawrence Yun, NAR’s chief economist, said in a statement. “If year over year in 2022, to 5.19 million units.

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Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The recovery has not taken place, but the housing recession is over,” said NAR Chief Economist Lawrence Yun. The presence of multiple offers implies that housing demand is not being satisfied due to lack of supply. Meanwhile, housing starts are forecast drop 5.3%

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Housing Wire

JUNE 17, 2021

“Mortgage rates continued to drift down as markets concur with the view that inflation increases are temporary,” said Sam Khater, Freddie Mac’s Chief Economist. Fannie Mae ‘s economic and strategic group mirrored a similar outlook on inflation’s transitory effects on both mortgage rates and the housing market.

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Birmingham Appraisal

MAY 11, 2022

So How’s The Birmingham Housing Market? With the first quarter of 2022 under our belts, I thought I would take a quick look at how the numbers stack up against past years, and for March. Median home prices continue to rise as a result of high demand and limited inventory. Sale Price to List Price Ratio.

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Empire Appraisal Group

SEPTEMBER 8, 2022

Housing Market Collapse? Housing Market Collapse? 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. housing market is suffering some cracks, but an outright collapse is nowhere in sight.

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Housing Wire

JANUARY 12, 2024

Mortgage businesses at Wells Fargo , JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. billion for the year from $44 billion in 2022. billion in 2022, a 40% decline. Amid the contraction at Wells Fargo, JPMorgan became bigger than its rival in the mortgage space. billion from $4.2

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Housing Wire

NOVEMBER 29, 2022

As has been the case for the past several months, our September 2022 report reflects short-term declines and medium-term deceleration in housing prices across the U.S.,” As a result, prices might not continue to plunge down as much as some projections anticipate— as the available inventory of homes on the market is constrained.”.

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Inventory Contracts Sellers Finance 369

Housing Wire

MARCH 28, 2023

2023 began as 2022 had ended, with U.S. below its peak in June 2022. Mortgage financing and the prospect of economic weakness are therefore likely to remain a headwind for housing prices for at least the next several.” Persistent challenges related to low inventory , however, will prevent home prices from falling dramatically.

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Housing Wire

DECEMBER 4, 2020

once we get out to 2022, but we are expecting mortgage rates over the next three years to be far less than they’ve been in the last decade.”. There are a little over 20 million home mortgages outstanding, with a contract interest rate of 4% or higher still in the United States,” he said. per year during the prior decade.

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Housing Wire

APRIL 23, 2021

While 2021 likely won’t approach the record breaking tizzy of 2020, the housing market will continue to flourish on the strength of the purchase market, according to economists at the Mortgage Bankers Association. How outsourcing gives lenders an advantage in 2021’s purchase market. After last year’s record $3.83

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Housing Wire

APRIL 26, 2023

In its last meeting in March, the Federal Open Market Committee (FOMC) raised the federal funds rate by 25 basis points, climbing from 4.75% to 5%, its ninth consecutive rate hike. Experts do see some signs of improvement in housing supply , but it’s still too early to celebrate. The bottom for 2022 was 240,194.

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Housing Wire

APRIL 15, 2024

Higher mortgage rates have forced available inventory to climb all year. Housing inventory There are now 526,000 single-family homes active unsold on the market. jump in unsold inventory in a week is very notable. As mortgage rates rise, inventory rises. So, rates are up and inventory is undeniably growing.

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Inventory Mortgage New Listings Sellers 426

Hank Miller Team

OCTOBER 6, 2022

Attention media Please stop; the greater Atlanta housing market was just fine in the 3rd Qtr of 2022. The Atlanta housing market in Q3 2022 did not melt down. Atlanta Housing Market in Q3 2022 Let’s have a look at factual data. We examine list price, contract price and sold price.

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Housing Wire

APRIL 25, 2023

below its June 2022 peak.” Mortgage financing and the prospect of economic weakness are therefore likely to remain a headwind for housing prices for at least the next several months,” Lazzara said. However, despite the recent uptick, the continued low inventory conditions are expected to keep home prices elevated nationally.

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Housing Wire

JULY 29, 2021

An index of 100 is equal to the average level of contract activity during 2001, the first year examined. The “seesaw” nature of pending home sales could indicate a turning point for the housing market, according to Lawrence Yun, NAR chief economist. in 2022. . million in 2022 from 6 million in 2021.

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