Housing Wire

JANUARY 29, 2024

2023 was the weirdest real estate market on record. We played mortgage rate ping-pong, had unprecedented low levels of inventory and still there were escalating prices. Always ask who they know who could use your help buying or selling real estate. All this happened, but you survived it, so go you!

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Real Estate Agent Real Estate Agents Inventory 437

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. Interest rates, a key determinant of the real estate market’s health, are on a downward trend. Will we get more inventory? The strategy has changed for buyers.

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Real Estate Agent Real Estate Buyers Agents 436

Housing Wire

MARCH 12, 2024

Despite elevated interest rates and tight inventory, the national Hispanic homeownership rate reached 49.5% in 2023, with a net gain of 377,000 Hispanic owner households from the previous year. In 2023 alone, Latinos saw a net gain of 450,000 new households and were responsible for 25.5% In total, more than 9.5 of overall U.S.

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Real Estate Agent Real Estate Buyers Realty 457

Housing Wire

FEBRUARY 7, 2024

It’s no secret that 2023 was a difficult year to buy a home. With mortgage rates briefly topping 8% and home prices breaking records throughout the year, many would-be sellers simply decided not to bother listing their homes, exacerbating already tight inventories. New data from the U.S.

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Housing Wire

APRIL 22, 2024

Check out these nine downloadable real estate prospecting letter templates to help you make an impression in your neighborhood or zip code. My name is (your name), and I’m a licensed real estate professional with (your brokerage). Please think of me as your go-to resource for all things real estate.

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Real Estate Open Houses Brokerage Real Estate Agent 360

Housing Wire

MARCH 26, 2024

Fannie Mae and Freddie Mac completed 43,903 foreclosure prevention actions in the fourth quarter of 2023, according to a new report published by the Federal Housing Finance Agency ( FHFA ). Over the course of 2023, the government-sponsored enterprises (GSEs) completed 192,897 foreclosure prevention actions. The rate for U.S.

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Government Mortgage Inventory Real Estate 432

Housing Wire

JULY 6, 2023

It boils down to two factors, according to housing-industry experts: a lack of housing inventory , or supply; and high demand for that limited housing stock — which also is fueling a jump in new-home sales. 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 464

Housing Wire

SEPTEMBER 10, 2023

Last week we saw a noticeable decline in new listings and active inventory was barely positive. Does this mean housing inventory has begun its seasonal decline? That said, I hope we extend inventory growth longer before the seasonal decline. Here are the numbers, according to Altos Research : Weekly inventory change (Sept.

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Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. A recent report from real estate analytics firm CoreLogic indicates that for U.S.

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Lending Inventory Mortgage Finance 451

Housing Wire

AUGUST 20, 2023

Last week, mortgage rates hit a 21st-century high, the 10-year yield closed slightly higher than my peak forecast for 2023 , and housing inventory growth was still slow. Weekly housing inventory Mortgage rates have been near or above 7% for the last few months, and active listings growth has been slow during this tenure.

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Inventory Mortgage New Listings Sellers 370

Housing Wire

JANUARY 19, 2024

Existing home sales dropped to their lowest level in nearly 30 years in 2023, according to a report from the National Association of Realtors (NAR), released Friday. In 2023, 4.09 Prospective homebuyers have been shut out of the market by a lack of inventory. Compared to a month ago, housing inventory was down 11.5%

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Inventory Realtors Housing Market Construction 437

Eyes on Housing

DECEMBER 11, 2023

According to the 2023 third quarter release of the Federal Reserve Z.1 1 Financial Accounts of the United States, household real estate assets grew for the second consecutive quarter. The continued lack of existing for-sale inventory has contributed to the growth in households’ real estate assets.

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Housing Wire

MARCH 22, 2024

2023 was a consequential year for real estate. The market grappled with low inventory and mortgage rates that gave many homebuyers a reason to pause. According to Altos Research , 2023 inventory bottomed in April at 406,206 active listings. eXp had 355,052 sides in 2023, down from 2022 when they had 397,138.

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Brokerage Realty Real Estate Inventory 421

Housing Wire

SEPTEMBER 26, 2023

“Homebuilders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction,” Bright MLS Chief Economist Lisa Sturtevant said. The median sales price of a new house sold in August 2023 was $430,300, while the average sales price was $514,000.

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Inventory Buyers Construction Sellers 495

Housing Wire

JANUARY 30, 2023

Housing inventory decreased by 6,468 units, a more pronounced decline from the previous week. Weekly housing inventory There is, again, another downside report on weekly inventory, as inventory has fallen noticeably again this week from the week prior. However, it has now fallen again, and inventory decreased by 6,468.

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Inventory Housing Market Marketing Mortgage 496

Housing Wire

AUGUST 8, 2023

Douglas Elliman posted another quarterly loss as high mortgage rates and limited listing inventory continues to weigh on productivity. million in the second quarter of 2023, well below the $17.6 million in the second quarter of 2023, down from a gain of $14.6 million as of June 30, 2023. Elliman reported a net loss of $5.2

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Brokerage Real Estate Advertising Inventory 323

Housing Wire

MARCH 22, 2024

In real estate brokerage, growth is the name of the game and for 2024 (based on 2023 data), The Real Brokerage and The Agency are winning that game. The 2023 housing market was a period of uncertainty with low inventory and industry challenges. Here are the Top Movers by transaction sides and sales volume.

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Brokerage Real Estate Agents Realty 450

Housing Wire

DECEMBER 28, 2022

After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. Heading into 2023, it seems well within reason, given current trends, that a peak-to-trough decline in home prices of 10% is possible. . There will be two key differences between 2023 and 2010. Home Prices will fall, but don’t expect 2010.

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Housing Market Marketing Inventory Mortgage 491

Housing Wire

MARCH 30, 2023

But while rates have dropped, the housing market has continued to be challenged by low inventory levels. Altos Research data shows that the weekly inventory fell from 414,278 on March 17 to 413,169 on March 24. Mortgage rates declined for the third consecutive week, sparking hope for a good homebuyers’ spring season.

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Inventory Housing Market Marketing Mortgage 521

Housing Wire

DECEMBER 8, 2023

High mortgage rates, a lack of inventory and elevated home prices have turned 2023 into the least affordable year for homebuyers on record. For an American earning $78,642, the country’s median income in 2023, the purchase of a median-priced home of $408,806 meant spending 41.4% in 2022. “A During the four weeks ending Nov.

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Inventory Buyers Mortgage Marketing 390

Housing Wire

SEPTEMBER 19, 2023

Title premium volume continued to trend downward during the second quarter of 2023 as high mortgage rates and low housing inventory continued to plague the real estate industry. Overall, title premium volume is down 40% year-over-year in the first half of 2023. in Q2 2023. With 27.8% and Stewart’s was 9.6%.

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Insurance Real Estate Marketing Inventory 367

Housing Wire

FEBRUARY 6, 2023

Despite mortgage rates briefly falling below the 6% threshold, both housing inventory and mortgage demand fell last week. Weekly Housing Inventory A few weeks ago, I was encouraged that we had a slight increase in inventory and a small decline the following week. This week inventory fell 8,664 units from the previous week.

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Inventory Housing Market Marketing New Listings 460

Housing Wire

DECEMBER 7, 2023

As the real estate market continues to grapple with high interest rates and low inventory, agents entering the market are looking for affordable client relationship management (CRM) tools that offer a cost-effective means to automate and manage client interactions.

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Real Estate Real Estate Agent Tools Agents 402

Housing Wire

JULY 5, 2023

Gerli cites data from a company called AllTheRooms to make the case that the Airbnb /short-term rental market is “crashing” and it will have a big impact on inventory. In some markets there are now 2-3x more homes listed on Airbnb than for sale, a situation that has robbed the housing market for inventory,” Gerli wrote in an email.

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Inventory Housing Market Marketing Sellers 397

Housing Wire

JANUARY 31, 2024

RIP 2023 — Whew, that was a year none of us would like to live through again. The factor for 2023 was 3.58%. Another startling fact was that 2023 saw just over 4 million existing home sales. That is how bad 2023 was for those of us in this business. Existing home prices as of the end of 2023 trade at 4.73

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Housing Market Marketing Inventory Business 416

Eyes on Housing

SEPTEMBER 12, 2023

The second quarter of 2023 release of the Z.1 1 Financial Accounts of the United States indicates that the market value of households’ real estate assets increased over the quarter. Low existing for-sale inventory helped to increase real estate value after falling for three consecutive quarters.

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Real Estate Market Value Inventory Marketing 183

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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Finance Realty Property Management Real Estate 350

Housing Wire

DECEMBER 16, 2022

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. One projection for 2023 is an easier buying market for first-time buyers.

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Buyers Realtors Inventory Sellers 478

Housing Wire

JANUARY 18, 2023

At the start of 2023, the company is investing in training the sales team on tactics to start growing the business again. ” Altos Research data confirms Canter’s perception that there are more houses in inventory. . ” Altos Research data confirms Canter’s perception that there are more houses in inventory.

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Inventory Mortgage Retail Training 441

Housing Wire

APRIL 24, 2024

It is unsurprising, then, that Texas has seen a boom in new real estate brokerage offices in the past five years. 1 brokerage by listing count from 2019 through 2023. The top 10 brokerages in Dallas by listing count were responsible for 12,145 listings in 2023. Houston ranks fourth with 2.3

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Brokerage Realty Marketing Real Estate 366

Housing Wire

SEPTEMBER 26, 2023

home prices continued to rally in July 2023,” Craig Lazzara, managing director at S&P DJI , said. Our 10- and 20-City Composites each also rose in July 2023, and likewise stand slightly above their July 2022 levels.” National Index posted an increase of 0.6%, while the 10-City posted a 0.8% increase and 20-City Composite a 0.9%

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Inventory Housing Market Lending Buyers 453

Housing Wire

OCTOBER 24, 2022

In May, I wrote about the signs to watch for a real estate market slowdown. 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. We could measure this change because inventory stopped rising nationally during those months.

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Real Estate Marketing Inventory Sellers 322

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 458

Housing Wire

NOVEMBER 11, 2022

In fact, we may see a further uptick in home prices in 2023, even if mortgage rates stay at or near 7%, Yun said. Yun, who analyzed the current state of the residential market, offered his 2023 market outlook on Friday at the NAR conference in Orlando. In turn, purchase inventory levels have stayed low in most markets.

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Inventory Housing Market Realtors Mortgage 496

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

JUNE 26, 2023

Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac completed 58,268 foreclosure prevention actions during the first quarter of 2023, raising the total number of homeowners who have been helped to 6,771,101 since the start of conservatorships in September 2008. The serious delinquency rate also decreased to 0.6%

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Government Mortgage Inventory Real Estate 354

Housing Wire

MARCH 27, 2024

Those advantages, coupled with cheap land, made the city a favorite for homebuilders like DR Horton and Lennar that brought plenty of new inventory to market. Its listings in 2023 fell below its 2019 level, although the drop was less steep than that experienced outside of Florida and far less steep than other metros like San Diego.

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Brokerage Realty Real Estate Inventory 420