Housing Wire

APRIL 17, 2023

Local housing markets is a HousingWire magazine feature spotlighting housing trends across the country. Austin, Texas In 2021, Austin had one of the hottest housing markets in the country. For agents and sellers looking to succeed in Austin’s current market, Redding says pricing is key. “We

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Housing Market Marketing Inventory Buyers 397

Housing Wire

MARCH 26, 2023

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. In a regular market, they would be closer to 5.25%.

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Inventory Housing Market Marketing Mortgage 450

Housing Wire

JANUARY 26, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. 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. in December, up from 71.6 in November. million units.

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Contracts Housing Market Construction Inventory 458

Housing Wire

JANUARY 12, 2024

As a group, the trio originated about $80 billion in mortgages in 2023, down from nearly $218 billion the prior year – a $138 billion decline (63%). Wells Fargo, for example, shrunk its mortgage business dramatically in 2023, per filings with the Securities and Exchange Commission (SEC). billion in 2023. billion from $4.2

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Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. I think in 2023, we’re going to see rates higher for longer,” Toohig concludes.

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Housing Wire

DECEMBER 16, 2022

This article is part of our Housing 2022-23 forecast series. 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.

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Buyers Realtors Inventory Sellers 479

Housing Wire

DECEMBER 20, 2022

Economists believe that if the trend continues, the market will be able to improve in the second half of 2023. . “The latest data on the housing market show that homebuilders are pulling back the pace of new construction in response to low levels of traffic, and we expect this weakness in demand will persist in 2023, as the U.S.

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Mortgage Housing Market Retail Contracts 410

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.

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Mortgage Marketing Investors Lending 409

Housing Wire

FEBRUARY 24, 2023

New home sales started off 2023 on a positive note, rising 7.2% Census Bureau and the Department of Housing and Urban Development (HUD) on Friday. January marked a surge of people signing contracts to buy new homes. from December to a seasonally adjusted annual pace of 670,000 homes, according to data published by the U.S.

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Construction Contracts Buyers Development 432

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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Inventory Buyers Housing Market Contracts 370

Housing Wire

OCTOBER 26, 2023

Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” Lawrence Yun, NAR chief economist said in a statement. in 2023, reaching an annual rate of 670,000. in 2023, to $430,800, and increase by 3.5% in 2023, reaching an annual rate of 4.15

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Inventory Contracts Housing Market Realtors 410

Housing Wire

FEBRUARY 15, 2024

For iBuyer Opendoor , 2023 was all about moderation. “We We are excited about how we are set up for 2024 and beyond,” CEO Carrie Wheeler told investors and analysts listening to the firm’s Q4 2023 earnings call on Thursday evening. This strategy paid off for the firm, as its net loss of $275 million for 2023 is markedly smaller.

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Business Advertising Inventory Contracts 418

Housing Wire

DECEMBER 4, 2020

More importantly, he said the current environment may even holdup into 2023. “We However, Nothaft expects that mortgages originated today, with a contract rate of 3% or lower, are more likely to have a relatively long life and lenders will not see them coming into refinance anytime soon. “That’s a lot of mortgages.

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Mortgage Contracts Construction Inventory 512

Housing Wire

OCTOBER 31, 2023

home prices continued to rise in August 2023,” Craig Lazzara, managing director at S&P DJI , said in a statement. in August, which marks the seventh consecutive monthly gain since prices bottomed in January 2023. The August level was the highest recorded since the index began in 1987. Our National Composite rose by 0.4%

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Inventory Housing Market Contracts Realtors 479

Sacramento Appraisal Blog

JANUARY 16, 2023

Could a seller credit damage the chance of appraising at the purchase contract? These questions weren’t asked a year ago, but welcome to the 2023 housing market. UPCOMING (PUBLIC) SPEAKING GIGS: 1/18/23 WCR Market Update in Cameron Park (register here) 1/19/23 Big market update at SAR on […].

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Appraisal Contracts Real Estate Housing Market 341

Housing Wire

JANUARY 13, 2023

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. of builders showed profitability with $1 million plus contracts on average. This number is expected to increase to 72% in 2023.

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Marketing Contracts Supply Chain Project Management 473

Housing Wire

MARCH 28, 2023

2023 began as 2022 had ended, with U.S. Because most home sales take several months from contract to closing, the data likely includes some deals struck in September and October. The annual growth rate in December was 4.4%. The index came in at a reading of 292.71 in January. On a month-over-month basis, the U.S.

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Buyers Inventory Contracts Finance 397

Housing Wire

FEBRUARY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. NAR expects the economy to continue adding jobs throughout 2023 and 2024, and the 30-year fixed rate mortgage to steadily drop to an average of 6.1% in 2023 and 5.4% year over year in 2023 to a total of 4.47 year over year in 2023 before posting a 19.4%

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Housing Market Realtors Contracts Buyers 432

Housing Wire

MAY 1, 2024

In a hostile housing market and a noisy industry environment, why is Zillow outperforming?” While Zillow’s net loss of $23 million for the quarter, which was up from its net loss of $22 million in Q1 2023, did not necessarily reflect Barton’s confidence, the firm’s 13% annual increase in revenue to $529 million did. he posited.

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Agents Real Estate Contracts Real Estate Agent 437

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. in Q2 2023.

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Inventory Contracts Sellers Housing Market 370

Housing Wire

JANUARY 20, 2023

housing market , we just experienced an event that most people never thought could happen. Outside of that time period, everything else from 1982 to 2023 was normal. If you believe people sell to become homeless, then you’re in the group of people that have simply not read housing data for decades.

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Inventory Housing Market New Listings Marketing 541

Housing Wire

DECEMBER 23, 2022

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

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Contracts Inventory Housing Market Development 384

Appraisal Buzz

MARCH 28, 2024

compared with February 2023, according to the National Association of Realtors (NAR). Month-over-month, contract signings climbed in the Midwest and South but sank in the Northeast and West. Overall, the level of sales activity remains sluggish, but the uptick in pending sales is a welcome and promising sign for the housing market.”

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Inventory Housing Market Contracts Realtors 195

Housing Wire

AUGUST 31, 2023

What does it mean for the housing market ? Incentivized by return-to-office demands, some buyers have adjusted to the higher mortgage rate environment and are moving forward with their home search, according to Realtor.com’s 2023 Hottest Zip Codes report. However, this time could be different, she said.

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Mortgage Housing Market Contracts Buyers 421

Housing Wire

JANUARY 4, 2024

After a 2023 of real estate brokers saying they feel “neutral” or “pessimistic” about the housing market, some 48% of those surveyed for the Q1 2024 HousingWire BrokerPulse survey are optimistic that the next three months will be positive. ” “Transparency in commission structure.”

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Brokerage Real Estate Training Buyers 421

Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The recovery has not taken place, but the housing recession is over,” said NAR Chief Economist Lawrence Yun. The presence of multiple offers implies that housing demand is not being satisfied due to lack of supply. in 2023 before increasing to 4.1%

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Construction Inventory Realtors Housing Market 370

Housing Wire

NOVEMBER 10, 2022

The Federal Housing Finance Agency (FHFA) announced on Thursday that the 2023 multifamily loan purchase caps for Fannie Mae and the Freddie Mac will be $75 billion for each government-sponsored enterprise (GSE), for a combined total of $150 billion to support the multifamily market, according to an announcement from the FHFA.

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Housing Wire

NOVEMBER 28, 2023

home prices continued their rally in September 2023,” Craig Lazzara, managing director at S&P DJI , said in a statement.“Our in September, marking eight consecutive monthly gains since prices bottomed in January 2023. Our National Composite rose by 0.3% The Composite now stands 3.9% above its year-ago level and 6.6%

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New Listings Contracts Inventory Sellers 419

Housing Wire

APRIL 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The lack of housing inventory is a major constraint to rising sales,” Lawrence Yun , NAR’s chief economist, said in a statement. Limited housing supply is simply not meeting demand nationally.” in 2023 and 5.6% in 2024, and housing starts will fall 7.3%

Inventory 432

Inventory Realtors Contracts Construction 432

Hank Miller Team

JULY 12, 2023

The first half of the Atlanta 2023 housing market shared many similarities with the first half of the 2022 real estate market. In fact, some market are ahead of those record highs of '22. Clearly it's not the same market, but the interest rate shock seems to be accounted for. have a rate below 5.

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Housing Market Marketing Buyers Sellers 40

Housing Wire

JANUARY 3, 2024

Real estate agents are optimistic about the housing market and working to implement buyer agency agreement as we head into 2024, according to the RealTrends Q1 2024 AgentPulse survey. I was already using buyer broker contracts, but now use them 100% of the time.

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Agents Realtors Clients Real Estate Agent 429

Housing Wire

NOVEMBER 3, 2023

The franchisor’s leaders believe current housing market conditions will have a greater impact on NAR membership numbers than the provisions in their settlement. “We “In about half the U.S., It’s impossible to be an agent if you can’t see which homes are for sale, or unlock the door to those homes, or even write an offer.”

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Realtors Agents Brokerage Contracts 432

Housing Wire

JANUARY 2, 2024

We have more homes going into contract each week now than we did a year ago — supply and demand are climbing together. This implies that there are more than enough buyers at these prices and these mortgage rates to keep activity happening in housing. Each week sellers are easing back into the market a little more than last year.

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Housing Market Marketing Inventory Contracts 528

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 All four major U.S. to a reading of 71.0.

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Contracts Realtors Inventory Marketing 397

Housing Wire

JUNE 7, 2022

Consumers’ concerns about housing affordability are squeezing would-be homebuyers out of the market, according to Fannie Mae ‘ s Home Purchasing Sentiment Index , which tracks the housing market and consumer confidence to sell or buy a home. The index score dropped by 0.3 points to 68.2

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Mortgage Housing Market Contracts Construction 384

Housing Wire

JANUARY 2, 2023

Because most home sales take several months from contract to closing, the data likely includes some deals struck in June and July.). With the Federal Reserve expected to continue increasing interest rates in 2023, albeit at a slower pace, Lazzara said he expects the decline in home price growth to continue. “As

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Home Value Housing Market Contracts Sellers 397

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%.

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Inventory Housing Market New Listings Mortgage 458