Housing Wire

FEBRUARY 7, 2024

It’s no secret that 2023 was a difficult year to buy a home. With mortgage rates briefly topping 8% and home prices breaking records throughout the year, many would-be sellers simply decided not to bother listing their homes, exacerbating already tight inventories. Mortgage rates followed suit, walloping buyers’ purchasing power.

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Inventory Sellers Mortgage Marketing 423

Housing Wire

APRIL 22, 2024

Check out these nine downloadable real estate prospecting letter templates to help you make an impression in your neighborhood or zip code. My name is (your name), and I’m a licensed real estate professional with (your brokerage). Please think of me as your go-to resource for all things real estate.

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Real Estate Open Houses Brokerage Real Estate Agent 387

Housing Wire

SEPTEMBER 26, 2023

“Homebuilders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction,” Bright MLS Chief Economist Lisa Sturtevant said. At the current sales rate, this represents a supply of 7.8

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Housing Wire

JULY 6, 2023

It boils down to two factors, according to housing-industry experts: a lack of housing inventory , or supply; and high demand for that limited housing stock — which also is fueling a jump in new-home sales. Fannie Mae recently projected originations for 2023 at $1.59 trillion, a revision downward from its January estimate of $1.65

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Inventory Renovations Real Estate Government 466

Housing Wire

AUGUST 8, 2023

Douglas Elliman posted another quarterly loss as high mortgage rates and limited listing inventory continues to weigh on productivity. He attributed this to “stable pricing in their luxury markets where buyers are more immune to interest rates pressures and the competitive advantage provided by Douglas Elliman’s strong marketing business.”

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Housing Wire

DECEMBER 8, 2023

High mortgage rates, a lack of inventory and elevated home prices have turned 2023 into the least affordable year for homebuyers on record. For an American earning $78,642, the country’s median income in 2023, the purchase of a median-priced home of $408,806 meant spending 41.4% in 2022. “A During the four weeks ending Nov.

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Housing Wire

DECEMBER 16, 2022

After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. 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. The housing affordability crisis has pushed potential buyers to the sidelines.

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Housing Wire

MARCH 30, 2023

But while rates have dropped, the housing market has continued to be challenged by low inventory levels. Altos Research data shows that the weekly inventory fell from 414,278 on March 17 to 413,169 on March 24. Mortgage rates declined for the third consecutive week, sparking hope for a good homebuyers’ spring season.

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Housing Wire

NOVEMBER 30, 2023

Homebuyer traffic will increase in 2024, fueled by lower mortgage rates and more existing-home inventory. After a very difficult market for buyers who have had to contend with an atypical housing market in 2023, home shoppers will find more listings to choose from in 2024,” Lisa Sturtevant, Bright MLS chief economist, said in a statement.

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Buyers Housing Market Sellers Inventory 467

Housing Wire

DECEMBER 28, 2022

After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. Heading into 2023, it seems well within reason, given current trends, that a peak-to-trough decline in home prices of 10% is possible. . There will be two key differences between 2023 and 2010. Home Prices will fall, but don’t expect 2010.

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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. Its listings in 2023 fell below its 2019 level, although the drop was less steep than that experienced outside of Florida and far less steep than other metros like San Diego.

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Housing Wire

SEPTEMBER 26, 2023

home prices continued to rally in July 2023,” Craig Lazzara, managing director at S&P DJI , said. Our 10- and 20-City Composites each also rose in July 2023, and likewise stand slightly above their July 2022 levels.” National Index posted an increase of 0.6%, while the 10-City posted a 0.8% increase and 20-City Composite a 0.9%

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Housing Wire

OCTOBER 24, 2022

In May, I wrote about the signs to watch for a real estate market slowdown. It’s now October, we’ve had the biggest spike in mortgage rates we’ve seen in decades, and all the signs of a slowdown are here: Inventory is rising. Home buyers got spooked when mortgage rates passed 5.5%. The price of new listings is dropping.

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Housing Wire

FEBRUARY 6, 2023

Despite mortgage rates briefly falling below the 6% threshold, both housing inventory and mortgage demand fell last week. Weekly Housing Inventory A few weeks ago, I was encouraged that we had a slight increase in inventory and a small decline the following week. This week inventory fell 8,664 units from the previous week.

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Housing Wire

JULY 6, 2023

High rates combined with low inventory continue to price many potential homebuyers out of the market, added Khater. Real estate markets also speak to resilient conditions, as buyers have accepted mortgage rates in the new normal of 6% – 7% range and kept a steady pace of sales over the past few months. ”

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Mortgage Construction Inventory Investors 384

Housing Wire

JANUARY 18, 2023

At the start of 2023, the company is investing in training the sales team on tactics to start growing the business again. ” Altos Research data confirms Canter’s perception that there are more houses in inventory. . ” Altos Research data confirms Canter’s perception that there are more houses in inventory.

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Inventory Mortgage Retail Training 441

Housing Wire

DECEMBER 7, 2023

As the real estate market continues to grapple with high interest rates and low inventory, agents entering the market are looking for affordable client relationship management (CRM) tools that offer a cost-effective means to automate and manage client interactions.

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Real Estate Real Estate Agent Tools Agents 415

Housing Wire

APRIL 24, 2024

It is unsurprising, then, that Texas has seen a boom in new real estate brokerage offices in the past five years. 1 brokerage by listing count from 2019 through 2023. The top 10 brokerages in Dallas by listing count were responsible for 12,145 listings in 2023. Houston ranks fourth with 2.3

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Brokerage Realty Marketing Real Estate 380

Housing Wire

NOVEMBER 11, 2022

In fact, we may see a further uptick in home prices in 2023, even if mortgage rates stay at or near 7%, Yun said. Yun, who analyzed the current state of the residential market, offered his 2023 market outlook on Friday at the NAR conference in Orlando. In turn, purchase inventory levels have stayed low in most markets.

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Housing Wire

MAY 8, 2024

Robert Reffkin is confident that Compass and its agents have what it takes to continue growing and succeeding in the changing real estate environment. “In million net loss reported in Q1 2023. million, compared to Q1 2023’s free cash-flow loss of $59 million. First, more buyers are using agents in 2023 than in 2003.

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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. It’s also what keeps Andrew Marquis, regional vice president at CrossCountry Mortgage and Scotsman Guide ’s seventh top LO, up at night, especially as he sees more buyers entering the market.

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Inventory Marketing Business Buyers 367

Housing Wire

MAY 21, 2024

It’s oddly enough in states where people are leaving,” said Florida-based real estate investor Paul Lizell of the markets where he is more focused on acquiring investment properties in 2024. I’m still focusing on those markets with very low (retail) inventory. in Q1 2023. in Q1 2023. in Q1 2023.

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Marketing Investors Real Estate Investing 437

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.

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Inventory Buyers Housing Market Contracts 366

Housing Wire

APRIL 25, 2023

This article is part of our ongoing 2023 Housing Market Forecast series. Inventory was so tight that homes often went to buyers with large down payments or even all-cash offers. In March 2023, it was just 2.2 So what does this all mean for housing in 2023 as we move into the home-buying season and second half of the year?

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Housing Wire

MARCH 7, 2024

In a study of 2023 home sales, the real estate analytics company found that homes listed in the first two weeks of June sold for 2.3% Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality. If mortgage rates follow, that could bring another surge of buyers later this year.”

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Sellers Buyers Real Estate Inventory 413

Housing Wire

MARCH 28, 2023

2023 began as 2022 had ended, with U.S. 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. The annual growth rate in December was 4.4%. in January.

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Buyers Inventory Contracts Finance 391

Housing Wire

JANUARY 12, 2024

In the third quarter of 2023, 88.5% To conduct this study , Redfin analyzed data from the Federal Housing Finance Agency ’s National Mortgage Database as of the third quarter of 2023. For repeat buyers and first-time buyers who entered the market in 2022, the average mortgage rate was above 6%. in mid-2022. below 5%, 59.4%

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Real Estate Agent Sellers Inventory Mortgage 473

Cleveland Appraisal Blog

APRIL 26, 2023

With a shortage of housing inventory persisting, some are resorting to building their own home. If you decide to use a realtor it can make the experience much smoother, much easier and ultimately far better for you as a buyer. This frees up time for buyers to focus on other aspects of their lives. Hello friends!

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Realtors Buyers Real Estate Agent Appraisal 276

Housing Wire

APRIL 14, 2023

This article is part of our 2023 Housing Market Forecast series. After the series wraps, join us on May 30th for the HW+ Virtual 2023 Forecast Event. The monthly Realtors Confidence Index is an essential measure of what real estate professionals are seeing in their local markets and how the market is evolving on a monthly basis.

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Realtors Buyers Inventory Sellers 430

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. percentage points in early December, when historically that spread has ranged between 1 to 2 percentage points.

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Mortgage Marketing Investors Lending 377

Housing Wire

DECEMBER 20, 2023

While sales are still tracking below last year’s levels, the gap between 2022 and 2023 has narrowed considerably. Housing inventory fell 1.7% Housing inventory fell 1.7% Meanwhile, unsold inventory sat at a 3.5-month million home sales nationally by the end of 2023. Existing-home sales grew 0.8% All four U.S.

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Inventory Housing Market Realtors Buyers 413

Housing Wire

MAY 14, 2024

Its net earnings were $248 million, compared to a $59 million net loss in Q1 2023. These improvements came as the number of direct title orders opened in the quarter jumped from 308,000 in Q1 2023 to 315,000 in Q1 2024. In addition, we are our first line of defense in helping protect buyers and sellers from real estate and wire fraud.

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Insurance Real Estate Sellers Housing Market 434

Housing Wire

APRIL 19, 2024

On a year-over-year basis, sales were down 10.5%, but the 8,790 transactions that closed last month were a positive sign for real estate professionals in the Keystone State. “We This spring represents a window of opportunity for buyers and sellers who want to enter the market.” decline in U.S. Statewide listings were down 11.2%

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Realtors Inventory Real Estate Sellers 348

Housing Wire

DECEMBER 14, 2022

Growing concerns of a recession, led by the Federal Reserve ’s continued interest rate hikes next year, will prompt mortgage rates to trend lower in 2023, according to numerous experts. by the end of 2023, according to fresh projections, up from an estimate of 3.9% by the end of 2023, dropping slightly from the projected 7.5%

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Mortgage Housing Market Buyers Sellers 421

Housing Wire

APRIL 18, 2024

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. Of course this isn’t the healthiest housing inventory story. This scenario is similar to 2023 when rates fell.

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Inventory Housing Market New Listings Buyers 490

Housing Wire

NOVEMBER 22, 2023

The number of home sales in 2023 will likely be at its lowest level since 2010, and while sales activity will pick up in 2024, transactions will still be below average. Consumers will reset their expectations, and as rates move lower, there will be both more buyers and more sellers in the market. In a typical year, there are about 5.2

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Housing Market Marketing Inventory Sellers 485

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders , banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans. HW: What are the risk management challenges for REO assets? territories.

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Business Marketing Real Estate Legal 386