Housing Wire

SEPTEMBER 29, 2023

Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. home sale price rose 3% year over year, reaching $420,846 in August, the largest annual increase since October 2022. According to the brokerage, 6.5%

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Housing Wire

JANUARY 31, 2023

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. The inventory put a cap on how much business Marquis’ team can do, which is one of the reasons why Marquis is now licensed in 22 states. In our market here in Boston, we have incredibly low inventory.

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Housing Wire

DECEMBER 16, 2021

Nevertheless, while we view the trends described below as the most likely path for the economy and mortgage market in 2022, this news highlights the elevated level of uncertainty we’ve all been living with the past few years. A silver lining is that we are expecting both 2022 and 2023 to be record years for purchase originations.

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Housing Wire

MARCH 12, 2024

Despite elevated interest rates and tight inventory, the national Hispanic homeownership rate reached 49.5% million Hispanic households own their home, the National Association of Hispanic Real Estate Professionals ( NAHREP ) said in its 2023 State of Hispanic Homeownership Report released on Tuesday. In total, more than 9.5

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Housing Wire

SEPTEMBER 17, 2024

To get a sense for what the mood is among real estate agents right now, look no further than Portland , Oregon. Like the vast majority of the country, the city’s housing market has been stymied by high mortgage rates, low inventory and mismatched expectations between buyers and sellers. Overall activity has been stagnant.

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Housing Market Marketing Sellers Buyers 465

Housing Wire

MARCH 9, 2022

“A lot of companies sacrifice profitability for growth, but I am proud to say, we do not have to operate that way,” Harley said on the call, exclaiming that the growth strategy will attract more investors and real estate agents over the long haul. “We No matter what the market holds, we believe our model is positioned to win.”.

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Housing Wire

JANUARY 12, 2024

in mid-2022. For repeat buyers and first-time buyers who entered the market in 2022, the average mortgage rate was above 6%. The lock-in effect is still real but listings are starting to tick up Declining mortgage rates appear to have helped the inventory situation somewhat. In the third quarter of 2023, 88.5%

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Real Estate Agent Sellers Inventory Mortgage 482

Housing Wire

JULY 10, 2024

The median gross income for Realtors with at least 16 years of experience rose from $80,700 in 2022 to $92,500 in 2023. But for Realtors as a whole, the median gross income fell from $56,400 in 2022 to $55,800 in 2023. The typical Realtor earned 20% of their business from repeat clients in 2023, down from 27% in 2022.

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Realtors Inventory Agents Clients 417

Housing Wire

MAY 3, 2023

On Friday afternoon, my real estate agent called with good news. The agent wished me well and said that she would appreciate a review on her website. What’s especially interesting is that unlike average or low-performing agents, top-performing agents simply don’t lower their commission rates very often. “I

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Appraisal Buzz

SEPTEMBER 5, 2024

in mid-2022. I have a dozen or so homeowners who would like to sell, but aren’t willing to give up their 3% interest rate for one that’s more than twice as high,” said Blakely Minton, a Redfin Premier Real Estate Agent in Philadelphia. Notably, total inventory is up 28.7% A recent study by Redfin found that 85.7%

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Construction Inventory Housing Market Contracts 459

Housing Wire

SEPTEMBER 15, 2023

in August 2022 and marks the highest percentage since October 2022, when mortgage rates surpassed 7% for the first time in two decades. I’ve seen more homebuyers cancel deals in the last six months than I’ve seen at any point during my 24 years of working in real estate. That rate is up from 14.3% The median U.S.

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Buyers Mortgage New Listings Real Estate 430

Housing Wire

MAY 4, 2023

The company’s GAAP net loss in Q1 was $411 million, a decline from 2022 Q4’s $493 million. He also acknowledged that low inventory and poor housing affordability still present challenges. decline from $19 billion in Q4 2022. The first quarter production also represents a whopping 67% drop compared to the same period in 2022.

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Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending. of UWM’s mix in 2021, and company executives expect that number to grow in 2022 as rates climb. billion, up 103.3%

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Mortgage Marketing Retail Lending 525

Housing Wire

MARCH 27, 2024

Those advantages, coupled with cheap land, made the city a favorite for homebuilders like DR Horton and Lennar that brought plenty of new inventory to market. Listings jumped at both the state and city levels in 2021 and 2022. In this environment of high rates and tight inventory, brokerages have had to become sharp elbowed.

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Brokerage Realty Real Estate Inventory 460

Housing Wire

FEBRUARY 19, 2021

In today’s low-inventory environment, complicated by external factors such as forbearance and foreclosure moratoriums, it’s crucial for real estate agents and brokers to be proactive in order to grow their business. Rental listings from RentPath should be displayed on Redfin.com in late 2022, the company said.

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Real Estate Agent Real Estate Agents Brokerage 508

Housing Wire

DECEMBER 16, 2021

The revised plan would appear similar to the scrapped pay reduction in one respect – a focus on repeat business from Knock’s network of real estate agents. Founded in 2014 by Black, a founding member of real estate listings site Trulia , Knock helps consumers bid on a new home by fronting a cash offer.

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Housing Wire

APRIL 28, 2022

Residential real estate brokerages will not do as well in 2022 as they did in 2021, but let’s not get carried away. billion in quarterly revenue, but the vast majority of that is from home sale commissions, which largely are returned to the company’s independent contractor real estate agents.

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Mortgage Brokerage Agents Real Estate 370

Housing Wire

FEBRUARY 15, 2023

Closing just shy of $100 million of production in 2022, he’s aiming for a higher loan origination volume in 2023. Combined with declining rates and a lack of inventory in his market, Steinway said a seller’s market has returned. People were inquiring about getting a loan with me on my very first day,” Steinway said.

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Mortgage Loan Officers Lending Retail 370

Housing Wire

MAY 23, 2023

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. Kim: What helped you become the top producing broker in 2022? Cohen funded $751.4

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Marketing Mortgage Inventory Loan Officers 388

Housing Wire

MAY 25, 2023

If we then look at data from the Federal Housing Administration (FHA), there were 2,063 Home Equity Conversion Mortgage (HECM) for Purchase loans endorsed in 2022 — less than 1/10th of 1% of homes sold last year. Real estate agents, loan officers and builders can attract customers they have never captured before.

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Housing Wire

MARCH 25, 2022

Dhingra has over 20 years of experience helping homebuyers and real estate agents and is an expert when it comes to harnessing the power of social media to help educate and inform people on the home-buying process. HousingWire: What do you think will be the big themes for the housing market in 2022?

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Inventory Technology Real Estate Agent Tools 388

Housing Wire

NOVEMBER 4, 2022

Housing affordability and limited inventory impacted the buying power of all buyers, however, the greatest impact was felt by Black and Asian Americans, as both groups saw a shrinking share of home buyers,” Jessica Lautz, NAR’s vice president of demographics and behavioral insights, said in a statement.

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Sellers Buyers Real Estate Agent Real Estate 403

Housing Wire

SEPTEMBER 11, 2023

The New York-based independent bank exceeded its 2022 production volume of $400 million in August, but the end goal is far more ambitious: The company is aiming to produce between $3 billion to $5 billion in origination volume annually. Cliffco Mortgage Bankers is among the rare independent mortgage banks doing more business than last year.

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Loan Officers Agents Retail Technology 403

Eppraisal

MARCH 18, 2022

The inventory of homes available for sale was on the low side even before the Covid 19 pandemic. According to data from Realtor.com, "The inventory of homes for sale dropped 53% between April 2020 and April 2021." Be sure to do your research and find an agent that specializes in working with buyers.

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Real Estate Agent Real Estate Agents Sellers 68

Housing Wire

OCTOBER 1, 2022

If discrimination is committed by appraisers – as the news headlines would suggest – fellow appraisers and real estate agents say they rarely witness or experience it. For non-appraisers, the greatest challenge was lack of inventory , with 66% of respondents selecting this response.

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Appraisal Real Estate Agent Valuation Training 403

Housing Wire

APRIL 22, 2024

Many of us are in sellers’ markets with very low inventory. Buyer’s agents who can find their clients a home that’s not even on the market are instant heroes. While some agents choose to handwrite these, it can be time-consuming. Dear (first name), I’m (your name), a local real estate professional with (brokerage).

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Real Estate Open Houses Brokerage Real Estate Agent 449

Appraisal Buzz

OCTOBER 3, 2022

According to their public website, in June 2022, the supply of existing homes for sale would last 3 months. I am in the camp with many that believe the market will continue to feel price pressure, at least until inventory levels begin to return to normal (2019 or early 2020 levels, at least). Why inventory levels matter to appraisers.

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Appraisal Marketing Real Estate Inventory 370

Housing Wire

JANUARY 17, 2023

Chantilly, Virginia-headquartered mortgage bank Prosperity Home Mortgage saw mortgage origination volume plummet by 40% last year — at a time when mortgage rates had more than doubled, home prices remained elevated and the market suffered from a shortage of inventory. . Justin Messer, CEO at Prosperity Home Mortgage.

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Mortgage Real Estate Real Estate Agent Realtors 403

Housing Wire

APRIL 25, 2023

recently, the cost of borrowing is still significantly higher than it was in 2021 or early 2022. Inventory was so tight that homes often went to buyers with large down payments or even all-cash offers. It has also increased the likelihood of a modest recession later this year.

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Inventory Housing Market Marketing Mortgage 388

Housing Wire

APRIL 29, 2022

We are looking at this 2022 market like a snow day in January. Builders do not have inventory — or workers and supplies. Real estate agents who are full time, efficient and enhance the buying experience at less cost to buyers and sellers are necessary. Products are limited as is inventory.

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Mortgage Real Estate Agent Technology Inventory 370

McKissock

AUGUST 14, 2022

The housing market has cooled since the intensity of the post-pandemic real estate rush, but the seller’s market we experienced has left us with plenty of discussion about what the nation’s housing inventory looks like. Housing Inventory So Low? Why It’s Hard to Meet Housing Inventory Needs Right Now. Why Is U.S.

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Inventory Construction Real Estate Renovations 68

Empire Appraisal Group

FEBRUARY 29, 2024

Lusky, DigitalVision, Getty Images Source: [link] FSBO Sellers Regret Not Having an Agent By Melissa Dittmann Tracey Survey: Sellers who go-it alone are twice as likely to be unsatisfied with the experience – and more likely to say their earlier opinion, “agents are overpaid,” was wrong.

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Sellers Agents Real Estate Agent Real Estate 78

Housing Wire

JULY 25, 2022

Local real estate agents, loan officers and appraisers from each city share what characteristics are currently defining their housing markets. 1 housing market for spring 2022, there is no doubt that the housing market in Rapid City is one to watch. In March 2022, the median list price of a home was up 21.4%

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Housing Wire

DECEMBER 28, 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. By the fall, real estate agents in Boise, Idaho were passing around a video they didn’t like but couldn’t resist watching.

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Real Estate Realty Brokerage Realtors 460

Housing Wire

JULY 24, 2024

Caruso said this is indicative of the markets in Indiana, where low inventory, high interest rates and inflationary pressure are still making it hard for clients to find — and afford — a home to buy. This is likely to lead to a release of pent-up demand that’s been building since rates rose in 2022. “As

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Marketing Realtors Buyers Property Taxes 430

Housing Wire

DECEMBER 30, 2022

Krichmar, whose $100 million-plus origination volume in 2022 consisted of 77% purchase loans, expects LOs to be working longer hours to find referral partners, trying to close loans faster than the others and diversifying their mortgage product offerings to combat an industry that shrank by more than half this year. He hit a record $2.47

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Renovations Realtors Construction Mortgage 417

Housing Wire

JULY 28, 2023

Outsiders to the real estate industry may assume that the tight market has real estate agents hanging up their hats. In reality, today’s agents are seizing the market and feeling confident. Real estate agents are still confident in the industry and the market. The answer is undeniable.

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Real Estate Agent Real Estate Agents Housing Market 370