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. But more recently, market conditions have done an about-face. at the end of 2022.

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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% Meanwhile, unsold inventory sat at a 3.6-month

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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. All four major U.S.

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Housing Wire

AUGUST 5, 2022

Guild Mortgage ’s second-quarter earnings suggest that a high share of purchase loans won’t necessarily be enough to protect lenders from the most challenging and volatile mortgage market in years. But it went down 30% from the first half of 2021 to the first half of 2022, to $412.7 The nonbank lender reported a $58.3

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Housing Wire

DECEMBER 22, 2021

17, with fewer borrowers looking for purchases in the lower end of the market, according to the Mortgage Bankers Association (MBA) survey published on Wednesday. The overall market composite index dipped 31.9% That marks the second-highest amount ever, indicating more activity in the higher end of the market. . in the period.

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Inman

FEBRUARY 5, 2024

In January, the real estate market saw a 17.5 percent decline in net new listings and a 2 percent decrease in contract signings, driven by mortgage rate fluctuations, according to HouseCanary.

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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. in April.

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Housing Wire

MAY 2, 2024

The housing market has been on a topsy-turvy roller-coaster ride in recent years that has been particularly neck wrenching since this past fall, fueled by stubbornly high inflation and a still-strong jobs market. Treasury market — jumping to as high as 121 in mid-April after ending March near 85.

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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

AUGUST 3, 2023

Opendoor continued to feel the market’s headwinds in the second quarter of 2023, which led to fewer homes sold and lower revenues in the period. 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. housing market,” Wheeler said.

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Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. With first-lien mortgages … the trading volumes are down from 2021 and 2022 peak levels.

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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

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. from February 2022.

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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%

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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

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. The good news for homeowners is that home values in most areas remain stable, and inventory levels for homebuyers are still low.

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Housing Wire

OCTOBER 1, 2022

The real estate market has shifted, and we are in a new housing paradigm. 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. However, in many areas of the country it does remain a seller’s market. Historically 2.5

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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

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.

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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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Housing Wire

MAY 19, 2022

HousingWire recently spoke with Jon Irvine, Chief Production Officer at Change Lending, about how brokers can gain a new competitive advantage in the current tight market. HousingWire: The current inventory shortage doesn’t seem like it will let up anytime soon. The post How can brokers get ahead in a tight market?

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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. At the height of the spring market, the typical home had 5.5

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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 charts below focus on key indicators; number of listings, number of sales, days on market and sale to list ratio. The broad market was strong and largely balanced through Jan 2020.

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

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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

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

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

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

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

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%. million to 1.28

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Housing Wire

MAY 25, 2022

The decline, as measured by the Mortgage Bankers Association ’s (MBA’s) Market Composite Index, continued to be led by a drop in the refinance share of mortgage activity, which has been consistent for more than two months. . Higher mortgage rates also impacted purchase market conditions, according to the MBA. from 10.5%

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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. Atlanta is over the national average but well off the leaders at 17th of the sampled markets. Still, 22 of contracts terminating isn't a anything to ignore. Nationally, 14.9 of transactions were terminated.

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Housing Wire

APRIL 26, 2023

The Market Composite Index, a measure of application volume, increased 3.7% 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. The bottom for 2022 was 240,194.

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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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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.

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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

JANUARY 19, 2022

from the previous week, largely due to a strong purchase market, according to the Mortgage Bankers Association (MBA) survey for the week ending Jan. 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.

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