Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. 11, a decrease from last week’s 6.66%, according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday. 12 compared to a week earlier.

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Mortgage Inventory Retail Construction 527

Housing Wire

JULY 6, 2023

The nation’s housing industry has entered a new normal in which the dynamics of the market appear perplexing — marked by high mortgage rates and high home prices, along with shrinking mortgage originations. 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 457

Housing Wire

NOVEMBER 22, 2023

Going more in-depth than a Fed meeting, our virtual Housing Market Update event provides you with the strategy-building insights needed to operate in 2024. It’s a savagely unhealthy housing market out there, and these economists unpack what that means for you. Register for the virtual event on Dec.

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Housing Market Marketing Inventory Sellers 477

Housing Wire

SEPTEMBER 27, 2023

After experiencing a temporary hiccup between July 2022 to January 2023, the U.S. housing market is back on track , stronger than ever, with a total estimated value of $52 trillion, according to a new analysis by Orphe Divounguy, a senior economist at Zillow Group. housing market has surged by more than $2.6

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Housing Market Marketing Inventory Construction 510

Housing Wire

JULY 6, 2023

The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.81% as of July 6, up significantly from last week ’s 6.71%. High rates combined with low inventory continue to price many potential homebuyers out of the market, added Khater.

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Mortgage Construction Inventory Investors 382

Housing Wire

NOVEMBER 3, 2023

Meanwhile, the unemployment rate rose slightly to 3.9%, aligning with the Fed’s projection for 2023 of 3.8%. What to expect in the housing market ? In October, construction employment continued to trend up, adding 23,000 more jobs, aligning with the average monthly gain of 18,000 over the prior 12 months.

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Marketing Construction Housing Market Government 403

Inman

SEPTEMBER 25, 2023

The 2023 real estate market has been a bit of a conundrum for agents and brokerages. Mortgage rates are high, listing prices are elevated, and housing inventory is limited.

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Inventory Brokerage Construction Real Estate 192

Housing Wire

APRIL 24, 2023

“The economic slowdown has resumed – whether the end result is a modest recession or simply a soft landing remains unanswered – although we continue to expect the former, as we have since April of last year, when we first made our 2023 recession call,” Doug Duncan , senior vice president and chief economist at Fannie Mae, said.

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Construction Inventory Lending Mortgage 382

Housing Wire

JULY 25, 2023

New home sales among the “50 Top-Selling Master-Planned Communities” increased by 7% in the first half of 2023 compared to the same period in 2022, according to a study by RCLCO Real Estate Consulting. This uptick in MPC sales represents a turnaround, pointing to the strength of the new home sales market.

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Development Real Estate Construction Inventory 369

Housing Wire

DECEMBER 21, 2023

21, according to Freddie Mac ‘s Primary Mortgage Market Survey. Lower rates are bringing potential homebuyers who were previously waiting on the sidelines back into the market and builders already are starting to feel the positive effects,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “A Another obstacle?

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Housing Wire

MARCH 27, 2024

Pre-pandemic, Jacksonville’s housing market was propelled by strong tailwinds: affordability relative to the rest of the Sunshine State, Florida’s lack of income tax and the quality of life benefits of having a river and oceanfront, to name a few. Listings jumped at both the state and city levels in 2021 and 2022.

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Brokerage Realty Real Estate Inventory 441

Housing Wire

OCTOBER 26, 2023

in September despite significant affordability hurdles weighing on the market, according to data released Thursday by the National Association of Realtors (NAR). Furthermore, inventory remains tight, which hinders sales but keeps home prices elevated.” in 2023, reaching an annual rate of 670,000. in September.

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Inventory Contracts Housing Market Realtors 404

Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. It’s positive news for an industry that has recently dealt with a lackluster amount of inventory.

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Renovations Realtors Construction Mortgage 404

Housing Wire

SEPTEMBER 22, 2022

Economists at Fannie Mae say the Federal Reserve ‘s fiscal policy is having its desired effect on the housing market – home price growth began to slow in the summer, and the GSE says the housing slowdown will continue through 2023. The mortgage market is projected to slip further to $2.17 trillion in 2022.

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Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). In 2023, new-home sales are up 5% year to date, Yun said.

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Real Estate Inventory Sellers Realtors 450

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher, VRM Mortgage Services HW: What does the current market and demand for REO assets look like? Balancing supply and demand is a delicate dance between new construction and existing properties. months as of December 2023), and implementing measures to moderate home price appreciation, fostering increased affordability.

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Business Marketing Real Estate Legal 404

Housing Wire

FEBRUARY 12, 2024

Stratmor Group served as the adviser to AFR for the deal, which was announced in August 2023 and completed on Feb. residential mortgage market and housing-related assets. It also has a niche in construction and manufactured home loan programs. He was previously at UMortgage , holding the role of vice president of revenue.

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Lending Renovations Construction Finance 422

Housing Wire

JANUARY 26, 2024

The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. According to an NAR outlook, home sales are projected to rise significantly in 2024 and 2025 as the housing market steadily returns to normal. in November.

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Contracts Housing Market Construction Inventory 450

Housing Wire

FEBRUARY 21, 2024

By extension, Zonda also acquired NewHomeSource.com , one of the largest listings platforms for newly constructed homes, and Envision , a new home design platform. Zonda will be able to integrate its new construction data and tech platform with the leading portal for U.S. The demand for new construction isn’t waning.

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Business Construction Design Inventory 429

Housing Wire

AUGUST 4, 2023

Job gains came in lower than both the 278,000 monthly average for the first half of 2023 and the 399,000 average of 2022. Employment in the construction industry continued to trend up in July, adding 19,000 jobs, especially in the residential construction space.

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Marketing Construction Renovations Home Improvement 369

Housing Wire

APRIL 27, 2023

“The lack of housing inventory is a major constraint to rising sales,” Lawrence Yun , NAR’s chief economist, said in a statement. Looking ahead to the second half of 2023 and beyond, NAR said it expects that the economy will continue adding jobs , but at a slower pace. in 2023 and 5.6% year over year in 2023 to 1.44

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Inventory Realtors Contracts Construction 424

Housing Wire

OCTOBER 3, 2023

Through eXp Exclusives, participants will be able to share off-market and pre-market listings with other eXp agents and their clients through a mobile app. The app will also house all of eXp’s active MLS listings and the service is free to eXp Realty agents.

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Realty Agents Clients Tenants 424

Housing Wire

JANUARY 3, 2024

The 30-year fixed mortgage rate closed 2023 at 6.76%, more than one percentage point lower than its October peak of 7.9%, according to Joel Kan, MBA’s vice president and deputy chief economist. Mortgage applications decreased 9.4% for the week ending Dec. The share of Federal Housing Administration (FHA) loan activity decreased to 14.5%

Mortgage 439

Mortgage Housing Market Construction Inventory 439

Housing Wire

MAY 30, 2023

Low housing inventory and still-strong demand kept prices high in March, according to the latest according to the S&P CoreLogic Case-Shiller National Home Price Index , released Tuesday. The annual growth rate in March 2023 was up 0.7%. increase in home prices in the first quarter of 2023 from the first quarter in 2022.

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Mortgage Inventory Construction New Listings 404

Housing Wire

MARCH 21, 2024

Mike Fratantoni , the chief economist and senior vice president of research and industry technology at the Mortgage Bankers Association (MBA), addressed three major challenges in the housing market during testimony before the U.S. The silver lining, however, is that builders have picked up their pace of construction.

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Insurance Inventory Mortgage Lending 417

Housing Wire

JANUARY 23, 2024

For what felt like a moment in time, buyers enjoyed the luxury of being incredibly picky, carefully selecting what felt like their dream homes in a market that had shifted towards more favorable conditions. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

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Real Estate Agent Real Estate Buyers Agents 442

Housing Wire

APRIL 5, 2024

Since August 2023, the unemployment rate has hovered between 3.7% Job gains were most notable in the health care (+72,000), government (+71,000) and construction (+39,000) sectors. In March, employment continued to trend up in construction, adding 39,000 jobs month over month. month over month to $34.69 and were up 4.1%

Mortgage 349

Mortgage Transportation Construction Housing Market 349

Housing Wire

DECEMBER 4, 2020

More importantly, he said the current environment may even holdup into 2023. “We Slower value growth will most likely occur from increased sales-inventory, which has been putting upwards pressure on prices for months now though recent housing starts data from the Census Bureau shows construction is finally playing catch-up.

Mortgage 506

Mortgage Contracts Construction Inventory 506

Housing Wire

MARCH 28, 2022

The one thing that has happened in 2022 that has been worse is that national inventory levels have worsened in 2022 to start the year. Due to this reality, I have downgraded the housing market from unhealthy housing to a savagely unhealthy housing market. Inventory has been falling for years. months on a 3-month average.

Housing Market 370

Housing Market Marketing Supply Chain Inventory 370

Housing Wire

DECEMBER 13, 2023

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year. Home starts forecasts, meanwhile, don’t offer much certainty about the pace of construction next year. million to 5.07 million to 5.07

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Inventory Construction Mortgage Buyers 457

Housing Wire

JANUARY 6, 2023

Nearly every loan originator is fixated on going after the purchase mortgage market in 2023 following a brutal 2022 — a year in which even some of the top producers saw their origination volume drop to 20%. The year 2023 is going to be a little bit different. and Scotsman Guide ‘s fourth-ranked LO in the country.

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Business Loan Officers Clients Inventory 404

Housing Wire

JULY 27, 2023

in 2023 before increasing to 4.1% in 2023, settling at 4.38 Home prices will be influenced by how much inventory is brought to market. Increased homebuilding will tame price growth, while limited construction will lead to home price appreciation outpacing income growth.” in 2023, to 720,000. million in 2024.

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Construction Inventory Realtors Housing Market 370

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 National Association of Realtors Research Group has produced the index since 2008, a time of turbulence in the real estate market. Today, the average is 2.7

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Realtors Buyers Inventory Sellers 424

Housing Wire

JULY 7, 2023

The labor market is moderating gracefully, but conditions remain too hot for the Fed’s liking. Manufacturing activity remains quite weak, while consumer spending has held up somewhat better, and new home construction and sales have picked up. In the June jobs report, residential building construction employment is up 0.8%

Construction 370

Construction Renovations Government Inventory 370

Housing Wire

MARCH 8, 2024

Though all signs point to a cooling labor market overall, the economy picked up another 275,000 jobs in February. The jobs report on Friday is unlikely to convince the Fed that rate cuts are necessary when the Federal Open Markets Committee meets later this month, economists said. Job openings were essentially unchanged at 8.9

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Transportation Retail Housing Market Construction 442

Housing Wire

DECEMBER 12, 2023

While sellers of existing homes have struggled with rising rates and softening demand, homebuilders have not only survived, but thrived in this market thanks to the use of mortgage rate buydowns , a tool more widely used by builders since their business is selling homes and clearing inventory.

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Tools Inventory Sellers Buyers 414

Housing Wire

JULY 26, 2023

Tight inventory and soaring home prices have pushed more homebuyers to more affordable areas in California. I do a lot with new construction and homeowners’ insurance is cheaper on new builds because they are brand new,” said Sandy Williams, an eXp Realty agent in Sarasota. That comes with its own risks – in many cases, wildfires.

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Insurance Housing Market Marketing Supply Chain 370