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 328

Housing Wire

MARCH 31, 2023

In its third year, the 2023 HW Finance Leaders award celebrates the outstanding achievements of the top finance executives in the real estate and mortgage space. Congratulations to the 2023 HW Finance Leaders. As the housing market continues to face volatility, the role of CFO has become increasingly critical.

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Appraisal Buzz

MARCH 21, 2024

compared with February 2023, according to the National Association of Realtors (NAR). It was the largest monthly increase since February 2023. Helping to boost existing-home sales in February was that inventory increased 1.07 compared with February 2023. Existing-home sales were at a seasonally adjusted annual rate of 4.38

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Inventory Realtors Investors Buyers 394

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. Heat map link.

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Marketing Investors Real Estate Investing 423

Housing Wire

MARCH 5, 2024

Meanwhile, inventory levels have shown year-over-year growth despite the prevailing high mortgage rates. 23 and March 1, inventory rose from 497,608 to 498,339 (up 0.15%), according to Altos Research. 23 and March 1, inventory rose from 497,608 to 498,339 (up 0.15%), according to Altos Research. Between Feb. Between Feb.

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Mortgage Inventory Investors Sellers 423

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

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 473

Housing Wire

FEBRUARY 23, 2024

This is nothing dramatic, but similar to what we saw in 2023 when mortgage rates rose from 5.99% up to 7.25%. Here are some charts reviewing today’s report with a host of data lines from the NAR existing home sales report: [link] A few critical glaring points: active inventory is still historically low, and so is monthly supply data.

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Inventory Mortgage New Listings Marketing 425

Housing Wire

MAY 8, 2024

In down markets, the best agents and the best brokerages gain market share,” Reffkin, the CEO of Compass, told investors and analysts during his firms first-quarter 2024 earnings call on Wednesday evening. “We million net loss reported in Q1 2023. million, compared to Q1 2023’s free cash-flow loss of $59 million.

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Agents Brokerage Real Estate Clients 361

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. Adjusting to a “new normal”.

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Renovations Realtors Construction Mortgage 377

Housing Wire

OCTOBER 26, 2023

“Rates have risen two full percentage points in 2023 alone and, as we head into Halloween, the impacts may scare potential homebuyers,” Sam Khater, Freddie Mac’s chief economist, said in a statement. However, Realtor.com Senior Economic Research Analyst Hannah Jones expects home sales activity to hover at a low level until the end of 2023.

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Mortgage Inventory Housing Market Realtors 410

Housing Wire

APRIL 25, 2024

“Meaningful gains will only occur with declining mortgage rates and rising inventory.” Existing-home inventory in March improved 14.4% Existing-home inventory in March improved 14.4% million home sales in 2024, a 9% increase from 2023. New-home sales jumped by 8.8% Meanwhile, existing-home sales receded by 4.3%

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Inventory Buyers Realtors Investors 379

Housing Wire

NOVEMBER 8, 2023

presentation to investors in the blank-check SPAC that took the company public in 2020. The slide, presented in March 2021, forecasted that Offerpad would sell nearly 15,000 homes in 2023. presentation slide for investors in the SPAC that took it public, also in 2020. . “The largest, undisrupted market in the U.S.,”

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Marketing Inventory Renovations Investors 396

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%. Read on for more about Gallo’s business strategies for 2023, his general take on LO compensation and prospects for the housing market.

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Business Loan Officers Clients Inventory 367

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 share is collected monthly in the Realtors Confidence Index and includes buyers who purchased primary homes, vacation homes and investors. Today, the average is 2.7

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Realtors Buyers Inventory Sellers 407

Housing Wire

FEBRUARY 12, 2024

A group of investors led by Colorado-based fund manager Proprietary Capital has completed the acquisition of multichannel lender American Financial Resources (AFR), the parties announced on Monday. Stratmor Group served as the adviser to AFR for the deal, which was announced in August 2023 and completed on Feb.

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Lending Renovations Construction Finance 324

Housing Wire

DECEMBER 21, 2022

In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! Plus, available housing inventory remains near historic lows.” Housing inventory. Today, inventory is almost 900,000 active listings below the lowest level of the four-decade average between 2 million and 2.5

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Inventory New Listings Housing Market Sellers 507

Housing Wire

MAY 18, 2023

If we had a massive credit boom-to-bust, inventory would have skyrocketed in 2022. history in 2022 and stabilization in sales data in 2023, total active listing NAR stands at 1.04 history in 2022 and stabilization in sales data in 2023, total active listing NAR stands at 1.04 NAR Total Inventory Data going back to 1982.

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Housing Market Marketing Inventory Mortgage 527

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 first-quarter 2024 , Fidelity reported total revenue of $3.299 billion, up from $2.474 billion a year ago.

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Insurance Real Estate Sellers Housing Market 388

Housing Wire

AUGUST 9, 2023

Despite a 18% annual decline in purchase title orders opened per day in Q2 2023, Fidelity National Financial executives believe housing demand remains strong. Fidelity did however note that on a sequential basis, purchase orders opened per day were up 12% compared to Q1 2023.

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Insurance Housing Market Inventory Real Estate 330

Housing Wire

JULY 20, 2022

But, there is one bright spot — inventory is rising. This has been a concern of mine after the summer of 2020 as inventory levels were breaking all-time lows, facilitating unhealthy home price growth during a more prominent demographic patch in U.S. The one positive: Inventory is rising. Once total inventory levels reach 1.52-1.93

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Inventory Housing Market Marketing Realtors 506

Housing Wire

SEPTEMBER 12, 2023

After two of the most challenging years in recent history, economists and analysts project a shift in the mortgage market toward the end of 2023, Hoff said. Investors impose these fees on lenders whenever a borrower pays off their mortgages usually within up to six months of funding. But it will bring with it different challenges.

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Loan Officers Investors Mortgage Clients 392

Housing Wire

APRIL 27, 2023

Executives at both Stewart Information Services and First American Financial bemoaned the challenging housing market environment as they discussed their respective firms’ first quarter 2023 earnings with investors Thursday morning. During the first quarter of 2023 , Stewart reports a total revenue of $542.3

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Housing Market Marketing Investors Development 314

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.

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Inventory Technology Design Tools 370

Housing Wire

APRIL 18, 2024

Higher interest rates , shrinking Agency business and low inventory still threatens volume. Realtors , small business owners, gig workers, freelancers, real estate investors, CPAs, doctors and lawyers with their own practices all could be a non-QM borrower. Non-QM isn’t established simply because loans fall-out of Agency.

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Marketing Investors Real Estate Business 360

Housing Wire

MAY 17, 2023

In fact, ATTOM reports that one in 12 home sales in the nation last year, or 8.4%, involved fix and flip investors — whose strategy is to acquire, renovate (fix) and then resell (flip) the properties. More investors keep looking to flip homes … but are making less and less in the process “ ATTOM CEO Rob Barber said.

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Finance Marketing Renovations Investors 347

Empire Appraisal Group

APRIL 13, 2023

Wall Street Expects Robust 2023 New-Home Market NEWS & MEDIA akurtz / Getty Images Source: Wall Street Expects Robust 2023 New-Home Market | Florida Realtors Wall Street Expects Robust 2023 New-Home Market By Alex Veiga The stock for many major U.S. Copyright 2023 The Associated Press. All rights reserved.

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Marketing Buyers Investors Realtors 78

Housing Wire

DECEMBER 26, 2023

But once again, not a horrible year for 2023, and with the Fed pivot we’ll see further improvement next year.” The macro challenge: Still not much inventory Analysts unanimously agree that inventory will continue to be a significant issue entering 2024. ” George agrees that inventory will remain a problem.

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Mortgage Inventory Marketing Finance 492

Housing Wire

APRIL 28, 2023

Like its other Big Four counterparts , the first quarter of 2023 did not produce great financial results for Old Republic. “As For Old Republic , the softer market results in total revenue falling from $2.207 billion in Q1 2022 to $1.759 billion in Q1 2023. In addition, the firm’s net income fell to $199.8 million, compared to $306.3

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Insurance Real Estate Inventory Investors 294

Housing Wire

SEPTEMBER 22, 2022

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. Even though 2019 inventory levels were historically low, they were at four-decade lows before 2020; they’re a more effective pricing market.

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Inventory Housing Market New Listings Mortgage 438

Housing Wire

AUGUST 3, 2023

Investors assessed the state of the U.S. Despite higher rates and lower purchase demand, home prices have increased due to very low unsold inventory.” Meanwhile, active inventory fell compared to the previous year each week in July as many homeowners held off on listing their home for sale, noted Realtor.com Economist Jones.

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Mortgage Inventory Government Buyers 315

Housing Wire

NOVEMBER 1, 2023

Zillow’s financial results Despite a slower residential housing market environment caused by rising mortgage rates and low housing inventory, Zillow Group still managed to record an annual increase in revenue in the third quarter of 2023. You’ve heard me say many times that 2023 is crucial for Zillow.

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Real Estate Advertising Agents Realtors 424

Housing Wire

JANUARY 12, 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. planting us firmly in the first days of 2023 where higher rates and prices threaten to completely paralyze the housing market. history. .

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Inventory Investors Construction Housing Market 489

Housing Wire

APRIL 7, 2022

The central bank has signaled that it will raise interest rates another six times this year and several more in 2023 to control inflation, which reached the highest level in 40 years in February, at 7.9%. The problem, of course, is inventory. National inventory of active listings declined by 18.9% But this is no normal market.

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Mortgage Supply Chain Inventory Investors 380

Housing Wire

JULY 28, 2023

Despite recording stronger financial results during the second quarter of 2023 than the first, executives at both First American Financial and Old Republic did their fair share of bellyaching over current housing market conditions during their firms’ Q2 2023 earnings calls on Thursday. “We billion, down from $1.81 billion a year ago.

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Insurance Investors Housing Market Development 284

Housing Wire

FEBRUARY 12, 2024

HousingWire: What were some of the challenges faced by lenders in 2023, and what is the outlook for 2024? Amanda Phillips: 2023 was a year of trials and tribulations for financial institutions. While the challenge of low housing inventory persists across the country, I have a feeling loan officers will be busier.

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Mortgage Technology Inventory Lending 349

Housing Wire

JULY 26, 2023

While the markets have already “priced in” this rate hike, which was widely expected, most investors are already wondering what it would take for the central bank to lift rates again later this year. Few Americans can or want to move when there’s such limited inventory, home prices remain near record highs, and mortgage rates are touching 7%.

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Investors Tools Mortgage Inventory 368