Appraisal Buzz

DECEMBER 27, 2021

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. This change will be effective starting in 2022 and should reduce inefficiencies in the mortgage and homebuying process.

Appraisal 397

Appraisal Valuation Modernization Contracts 397

Inman

FEBRUARY 5, 2024

percent decline in net new listings and a 2 percent decrease in contract signings, driven by mortgage rate fluctuations, according to HouseCanary. Despite a rise in total inventory compared to 2022 and 2023, the market is still behind historical inventory averages as sellers avoid entering a higher rate environment.

New Listings 145

New Listings Contracts Inventory Real Estate 145

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. Meanwhile, Opendoor’s inventory balance reached $1.1

Inventory 317

Inventory Contracts Sellers Housing Market 317

Housing Wire

FEBRUARY 8, 2023

The 30-year fixed rate is almost a percentage point below its recent high of 7.16% in October 2022,” said Joel Kan, MBA’s vice president and deputy chief economist. A day later, mortgage rates shot back up to 6.18%, which nevertheless represented the fifth consecutive weekly decline in rates. Overall, the refinance share of activity was 33.9%

Mortgage 356

Mortgage Contracts Inventory Marketing 356

Hank Miller Team

APRIL 6, 2022

It's time to answer the nagging question…did housing inventory in Atlanta increase during the first quarter of 2022? The key here are sales; fairly consistent and even the dip in Jan 2022 was higher than Jan 2019. No visible increase in inventory over the first quarter of 2022, if fact we're at a low point right now.

Inventory 94

Inventory Contracts Buyers Sellers 94

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.

Inventory 344

Inventory Housing Market Contracts Government 344

Housing Wire

MARCH 29, 2023

Month-over-month, contract signings increased in three U.S. Overall, contract signings were down 21.1% from February 2022. Although inventory has increased from February of last year, the number of homes available for sale is just half of what it was three years ago. In-contract deals rose 0.7% from February 2022.

Contracts 285

Contracts Realtors Home Value Housing Market 285

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.

Inventory 444

Inventory Housing Market Contracts Realtors 444

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. year over year in 2023 to 670,000 homes due to higher new home inventory than existing home inventory.

Inventory 392

Inventory Realtors Contracts Construction 392

Housing Wire

SEPTEMBER 11, 2023

HousingWire: According to ATTOM Data Solutions‘ latest foreclosure market report, bank repossessions climbed 9% in the first half of 2023 compared to the first half of 2022. Michael Chew: First, consider the first half of 2022; some areas were still dealing with or just coming out of pandemic -related foreclosure moratoriums and restrictions.

Inventory 373

Inventory Technology Design Tools 373

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.

Buyers 394

Buyers Mortgage New Listings Real Estate Agent 394

Hank Miller Team

JULY 18, 2022

Cancel culture invades real estate.The number of canceled home contracts hit a two year high in June 2022. Still, 22 of contracts terminating isn't a anything to ignore. As inflation runs roughshod over the country, there are multiple factors playing a role in contracts terminating. Nationally, 14.9 in Mar '20 and 16.4

Contracts 52

Contracts Sellers Buyers Agents 52

Housing Wire

JANUARY 12, 2022

7, 2022, according to a survey published by the Mortgage Bankers Association this week. However, the strength in growth will be dependent on housing inventory growing more rapidly to meet demand,” said Kan. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 3.50% from 3.40%.

Mortgage 436

Mortgage Contracts Inventory 436

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. Existing home sales also fell in August, down 15.3% The NAR’s Pending Home Sales Index fell to a reading of 71.8

Housing Market 421

Housing Market Contracts Government Buyers 421

Housing Wire

DECEMBER 23, 2022

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. Census Bureau and the Department of Housing and Urban Development (HUD) on Friday. in November.

Contracts 349

Contracts Inventory Housing Market Development 349

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

Inventory 401

Inventory Housing Market Realtors Marketing 401

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.

Contracts 335

Contracts Realtors Inventory Marketing 335

Housing Wire

DECEMBER 16, 2022

This article is part of our Housing 2022-23 forecast series. The last year has been a completely split housing market — one that started with the lowest inventory NAR has recorded dating back to 1999 and one with low mortgage rates. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event.

Buyers 467

Buyers Realtors Inventory Sellers 467

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.” in January.

Inventory 344

Inventory Buyers Housing Market Contracts 344

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.

Inventory 367

Inventory Housing Market Contracts Realtors 367

Housing Wire

AUGUST 9, 2023

Mortgage applications fell for the third consecutive week as the 30-year fixed mortgage rate rose to its highest level since November 2022 at 7.09%. The purchase index fell for the fourth consecutive week, as homebuyers continue to struggle with low for-sale inventory and elevated mortgage rates, added Kan. And the U.S.

Mortgage 313

Mortgage Contracts Government Inventory 313

Housing Wire

MAY 25, 2022

of total applications from 33% the previous week, according to the MBA, and refinance activity is down 66% compared to January 2022. . Currently, higher rates, low inventory, and high prices are keeping prospective buyers out of the market.”. Refinance share of mortgage activity dropped to 32.3% from 10.5% in the prior week.

Mortgage 404

Mortgage Contracts Retail Inventory 404

Housing Wire

MARCH 27, 2023

In addition, just 16% of the homes in Austin went under contract within two weeks of hitting the market. That’s a significant decline from February 2022, when 38% of homes in Austin were under contract within two weeks of being listed. according to Redfin’s data. Pending sales also dropped by 40%.

Housing Market 333

Housing Market Marketing Contracts Buyers 333

Housing Wire

SEPTEMBER 22, 2022

From NAR Research : “Total existing-home sales notched a minor contraction of 0.4% Total Inventory data fell in this report from 1.31 It doesn’t even look like we will breach the lower level of my inventory wish list of 1.52 I am a big fan of inventory to 2019 levels. Unsold inventory sits at a 3.2-month

Inventory 442

Inventory Housing Market New Listings Mortgage 442

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.”.

Inventory 341

Inventory Contracts Sellers Finance 341

Housing Wire

APRIL 17, 2023

But, in 2022, as prices in the metro rose to never-before-seen levels, things started to change. In early 2023, however, as inventory in Austin has become more and more constrained, buyers have become accustomed to the higher mortgage rates and demand has ticked up. “It This popularity has resulted in constrained inventory.

Housing Market 347

Housing Market Marketing Inventory Buyers 347

Housing Wire

OCTOBER 5, 2023

The home equity products involved include home equity lines of credit (HELOCs), closed-end second mortgages (CESs) and shared-equity contracts. The recent Saluda Grade-sponsored rated offering represents the sixth securitization deal since 2021 backed fully by shared-equity contracts — valued in total at some $1.3

Housing Market 378

Housing Market Marketing Contracts Finance 378

Housing Wire

MARCH 28, 2023

2023 began as 2022 had ended, with U.S. below its peak in June 2022. Persistent challenges related to low inventory , however, will prevent home prices from falling dramatically. First, despite the fact that inventory has increased from a year ago, supply is still very low by historical standards. to a reading of 109.07.

Buyers 362

Buyers Inventory Contracts Finance 362

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.

Mortgage 509

Mortgage Contracts Construction Inventory 509

Housing Wire

DECEMBER 22, 2021

He added, “Home-price appreciation growth remains faster than historical averages, and inventory, particularly for starter homes, continues to trail strong demand.”. The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($548,250 or less) decreased from 3.30% to 3.27%.

Mortgage 361

Mortgage Marketing Contracts Inventory 361

Housing Wire

JANUARY 19, 2022

The continued rise in purchase loan application sizes is driven by high home price appreciation and the lack of housing inventory on the market – especially for entry-level homes,” Kan said. The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($647,200 or less) increased from 3.52% to 3.64%.

Mortgage 382

Mortgage Contracts Government Inventory 382

Housing Wire

APRIL 26, 2023

The MBA data shows the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) at 6.55% last week, compared to 6.43% the previous week. Altos Research data shows that inventory rose from 405,468 to 414,010 from April 14 to 21. The bottom for 2022 was 240,194.

Mortgage 386

Mortgage Loan Officers New Listings Government 386

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

Mortgage 368

Mortgage Lending Retail Business 368

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. Or, to put it another way: demand slows, inventory grows.

Inventory 378

Inventory Mortgage New Listings Sellers 378

Housing Wire

FEBRUARY 23, 2022

The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($647,200 or less) increased to 4.06% from 4.05% the week prior. Higher mortgage rates have quickly shut off refinances, with activity down in six of the first seven weeks of 2022.”. of total applications last week, from 52.8%

Mortgage 394

Mortgage Retail Contracts Inventory 394

Lamacchia Realty

AUGUST 17, 2022

Inventory levels, although rising , are still too low to drive prices down (i.e., However, as more inventory gets added to the market, the rate at which prices have been rising is expected to slow as the year continues. Anthony recaps the market data for the first half of 2022 and gives his predictions for the rest of the year here.

Sellers 71

Sellers Buyers Inventory Contracts 71

Housing Wire

DECEMBER 23, 2022

This article is part of our 2022-23 Housing Market Forecast series. The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. at the end of 2022. But relatively low inventory will be the primary driver of subdued transactions.

Housing Market 358

Housing Market Marketing Inventory Buyers 358