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

Mortgage 401

Mortgage Lending Retail Business 401

Housing Wire

NOVEMBER 2, 2023

Real estate agents are always looking for vetted, high-quality leads — and especially so during 2023 market conditions. Below, we evaluated several platforms to find the top eight lead generation providers agents can buy real estate leads from in 2023.

Real Estate 384

Real Estate Real Estate Agent Tools Agents 384

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.

Business 357

Business Advertising Inventory Contracts 357

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.

Buyers 384

Buyers Inventory Contracts Finance 384

Housing Wire

JANUARY 26, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. The trade organization projects a 13% increase in existing home sales between 2023 and 2024 for an annualized pace of 4.62

Contracts 449

Contracts Housing Market Construction Inventory 449

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.

Mortgage 365

Mortgage Marketing Investors Lending 365

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.

Mortgage 506

Mortgage Contracts Construction Inventory 506

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. 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.

Inventory 414

Inventory Realtors Contracts Construction 414

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.

Inventory 350

Inventory Contracts Sellers Housing Market 350

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%

Inventory 463

Inventory Housing Market Contracts Realtors 463

Inman

FEBRUARY 5, 2024

percent decline in net new listings and a 2 percent decrease in contract signings, driven by mortgage rate fluctuations, according to HouseCanary. Despite a rise in total inventory compared to 2022 and 2023, the market is still behind historical inventory averages as sellers avoid entering a higher rate environment.

New Listings 170

New Listings Contracts Inventory Real Estate 170

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. On the bright side, housing inventory rose 1.8% lower than October 2022 when inventory was at 1.22 Meanwhile, unsold inventory sat at a 3.6-month

Inventory 398

Inventory Realtors New Listings Contracts 398

Housing Wire

DECEMBER 23, 2022

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

Contracts 373

Contracts Inventory Housing Market Mortgage 373

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. Low levels of existing home inventory contributed to keeping home prices elevated. by the end of September.

New Listings 366

New Listings Contracts Inventory Sellers 366

Housing Wire

JANUARY 23, 2024

With the coming together of interest rate drops, the persistent, continued low inventory levels and 2023 being recorded as the slowest year for U.S. Well into January, we are already seeing properties go under contract in the first weekend with multiple offers. Will we get more inventory?

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Real Estate Agent Real Estate Buyers Agents 431

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. Ongoing job gains are clearly increasing demand along with more inventory.” Pending home sales increased 1.6% in the Midwest and 1.1%

Inventory 195

Inventory Housing Market Contracts Realtors 195

Housing Wire

SEPTEMBER 6, 2023

“Both purchase and refinance applications fell, with the purchase index hitting a 28-year low, as prospective buyers remain on the sidelines due to low housing inventory and elevated mortgage rates,” said Joel Kan, MBA’s vice president and deputy chief economist. Department of Veteran Affairs loans’ share decreased to 11.3% Lastly, the U.S.

Mortgage 414

Mortgage Contracts Inventory Buyers 414

Housing Wire

DECEMBER 23, 2022

After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. But relatively low inventory will be the primary driver of subdued transactions.

Housing Market 386

Housing Market Marketing Inventory Buyers 386

Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. 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. in 2023, to 720,000. from 2022 to 2023, to 1.47 this year and then decline to 6.0% million in 2024.

Construction 363

Construction Inventory Realtors Housing Market 363

Housing Wire

SEPTEMBER 11, 2023

HousingWire: According to ATTOM Data Solutions‘ latest foreclosure market report, bank repossessions climbed 9% in the first half of 2023 compared to the first half of 2022. The good news for homeowners is that home values in most areas remain stable, and inventory levels for homebuyers are still low.

Inventory 395

Inventory Technology Design Tools 395

Housing Wire

APRIL 17, 2023

In early 2023, however, as inventory in Austin has become more and more constrained, buyers have become accustomed to the higher mortgage rates and demand has ticked up. “It We are still seeing properties going under contract quickly, so long as they are priced properly,” he said. And the data supports Martirena’s assertion.

Housing Market 376

Housing Market Marketing Inventory Buyers 376

Housing Wire

OCTOBER 5, 2023

The home equity products involved include home equity lines of credit (HELOCs), closed-end second mortgages (CESs) and shared-equity contracts. That offering, Unlock HEA Trust 2023-1, is slated to close this week. The 5% overall increase in home prices since February [2023] means that the average U.S.

Housing Market 402

Housing Market Marketing Contracts Finance 402

Housing Wire

APRIL 25, 2023

Home price trends moderated in February 2023,” Craig Lazzara, the managing director at S&P DJI, said in a statement. However, despite the recent uptick, the continued low inventory conditions are expected to keep home prices elevated nationally. The national index came in at a reading of 293.17 in February. to a reading of 297.68.

Inventory 353

Inventory Contracts Buyers Sellers 353

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 Presented by: Evocalize. All four major U.S.

Contracts 367

Contracts Realtors Inventory Marketing 367

Housing Wire

MARCH 27, 2023

In addition, just 16% of the homes in Austin went under contract within two weeks of hitting the market. That’s a significant decline from February 2022, when 38% of homes in Austin were under contract within two weeks of being listed. according to Redfin’s data. Pending sales also dropped by 40%.

Housing Market 363

Housing Market Marketing Contracts Buyers 363

Housing Wire

AUGUST 31, 2023

Despite continued high rates, low inventory is keeping house prices steady,” said Sam Khater, Freddie Mac’s chief economist. 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.

Mortgage 399

Mortgage Housing Market Contracts Buyers 399

Housing Wire

SEPTEMBER 22, 2022

From NAR Research : “Total existing-home sales notched a minor contraction of 0.4% Total Inventory data fell in this report from 1.31 It doesn’t even look like we will breach the lower level of my inventory wish list of 1.52 I am a big fan of inventory to 2019 levels. Unsold inventory sits at a 3.2-month

Inventory 448

Inventory Housing Market New Listings Mortgage 448

Housing Wire

APRIL 26, 2023

The MBA data shows the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) at 6.55% last week, compared to 6.43% the previous week. Altos Research data shows that inventory rose from 405,468 to 414,010 from April 14 to 21. Meanwhile, the peak for 2023 so far is 472,680.

Mortgage 392

Mortgage Loan Officers New Listings Government 392

Housing Wire

OCTOBER 24, 2022

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. The big question is: how long will the market contraction last and when should we expect things to heat back up? Inventory and price reductions have resumed climbing now.

Real Estate 317

Real Estate Marketing Inventory Sellers 317

Housing Wire

APRIL 15, 2024

Higher mortgage rates have forced available inventory to climb all year. Housing inventory There are now 526,000 single-family homes active unsold on the market. jump in unsold inventory in a week is very notable. As mortgage rates rise, inventory rises. Or, to put it another way: demand slows, inventory grows.

Inventory 406

Inventory Mortgage New Listings Sellers 406

Housing Wire

FEBRUARY 28, 2022

regions, only the West registered an increase in month-over-month contract activity. Unlike the surge in make-up demand we saw at the end of 2020, this recent outperforming data should moderate just due to traditional demand limits with the housing market at record low inventory levels. Of the four major U.S. This is critical.

Inventory 403

Inventory Housing Market Realtors Marketing 403

Housing Wire

JUNE 5, 2023

As with the rest of the country, the Chicago-area market is dealing with issues stemming from a lack of inventory , and until rates decline, it’s the first-time buyers that Lotsoff and Brok are primarily targeting for volume. billion in 2023 and expects a target production of $4 billion in 2024.

Loan Officers 379

Loan Officers Mortgage Lending Retail 379

Hank Miller Team

JANUARY 23, 2023

Best advice as to what home buyers should expect in the spring of 2023.understand While rates were certainly favorable, the lack of inventory resulted in a punishing home buying experience. Listing inventory drops during the pandemic with the seasonal bump in '21. But note, there is NO flood of inventory here or expected.

Buyers 98

Buyers Inventory Agents Contracts 98

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. Clark’s team of 73 loan originators who cover the East Coast funded $81 million in loans in January 2024, up 35% from January 2023.

Loan Officers 404

Loan Officers Mortgage Buyers Inventory 404

Housing Wire

JANUARY 3, 2024

The survey, which was conducted between the end of November and the end of December 2023, garnered 136 respondents, with 28 from the Northeast, 26 from the Southeast, 33 from the Midwest, 33 from the Southwest and 16 from the Northwest. I was already using buyer broker contracts, but now use them 100% of the time.

Agents 371

Agents Realtors Clients Real Estate Agent 371

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. compared to 2022. compared to 2022.

Real Estate 78

Real Estate Marketing Buyers Sellers 78

Housing Wire

JUNE 2, 2023

The Pontiac, Michigan-based United Wholesale Mortgage (UWM) CEO believes that 2022 and 2023 are equally challenging years, but the market will improve in 2024. What does Ishbia think about surging mortgage rates , lack of housing inventory and monetary and policy pressures ? I think 2022 and 2023 are equally tough years.

Retail 366

Retail Inventory Mortgage Loan Officers 366