Housing Wire

OCTOBER 9, 2023

If you’re interested in becoming a real estate agent in Illinois, you’ll be happy to hear that the path to getting your real estate license in the Prairie State doesn’t require as much of a time commitment as other states. 1] As a real estate broker in Illinois, it is not legal for you to work independently.

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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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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 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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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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Housing Wire

MAY 1, 2024

In a hostile housing market and a noisy industry environment, why is Zillow outperforming?” The simple answer is that Zillow is wholly focused on solving real consumer problems with software. million real estate license holders, many handle only one or two transactions a year. he posited. Of the approximately 1.5

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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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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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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

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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Empire Appraisal Group

JANUARY 11, 2023

2023 Real Estate Forecast: Market to Regain Normalcy. Source: 2023 Real Estate Forecast: Market to Regain Normalcy (nar.realtor). But even though mortgage rates and home prices are expected to moderate, home sales may still sag under persistent inventory shortages, housing economists predict.

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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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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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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

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

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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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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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 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

GoForrmz

OCTOBER 26, 2022

Get ahead with real estate automation The real estate market has seen a lot of unusual trends in the past couple years, and it’s no surprise things have been pretty weird. In 2021 , we saw houses receive multiple offers and sell for thousands of dollars over asking price within hours. We know the feeling.

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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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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

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%

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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.

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Housing Wire

SEPTEMBER 23, 2022

But ultimately, real estate is the business of delivering homeownership — the primary means by which most Americans build generational wealth — to people, and the affordability crisis challenges that, disproportionately affecting low-income homebuyers and people of color. But the truth is that the market is moderating, not imploding.

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Real Estate Agent Agents Real Estate Realtors 370

Housing Wire

OCTOBER 22, 2023

Texas residents interested in becoming a real estate agent must first complete 180 hours of approved coursework to be eligible to sit the state licensure exam. We estimate that it’ll take three to six months to get up and running as a licensed real estate agent in the Lone Star State.

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Housing Wire

JANUARY 2, 2024

real estate market is in and it may surprise you, but pretty much all the signals for housing in 2024 are pointing for growth now. We have more homes going into contract each week now than we did a year ago — supply and demand are climbing together. The defining characteristic of 2023 was how few sellers we had.

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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

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. JB Long , president of Incenter Capital Advisors Non-agency sector “Rate volatility has persisted in the market.

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Marketing Mortgage Investors Sellers 432

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

MARCH 5, 2024

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. For that reason, real estate prices are only going in one direction — and that’s up. economy remains hot.

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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

Housing Wire

NOVEMBER 21, 2023

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. Looking at the four major U.S. regions on a monthly basis, sales slid in the Northeast, South, and West but were unchanged in the Midwest.

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Inventory Realtors New Listings Contracts 410

Housing Wire

NOVEMBER 2, 2022

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 7.06% on Wednesday from last week’s 7.16%, according to the Mortgage Bankers Association. . “It is no longer a seller’s market,” said Nick Smith, founder at Rice Park Capital Management.

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Housing Wire

OCTOBER 16, 2023

In August, Zillow ‘s 2023 Consumer Housing Trends Report proclaimed that half of all homebuyers are purchasing their first home, the highest share that Zillow has ever recorded. Rate buy-downs are another option I recommend in this market. Let’s use $10,000 as an example.

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