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NAR Forecasts 2024 Existing-Home Sales

Appraisal Buzz

Economic Forecast NAR projects that even with the Federal Reserve’s reduction in the Fed Funds rate, mortgage rates will still be higher than 6% in 2024 and 2025. million in 2024 and from 2024 to 4.92 In the second half of 2024, look for moderately lower mortgage rates, higher home sales and stabilizing home prices.”

Contracts 418
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Tracking Foreclosure Activity in the First Half of 2024

Appraisal Buzz

ATTOM Data has released its Midyear 2024 U.S. from two years ago. “In contrast to the first half of 2023, foreclosure activity across the United States experienced a decline in the first half of 2024,” stated Rob Barber, CEO of ATTOM. “In foreclosure starts also decreased by 3% in the first six months of 2024.

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Mortgage Lenders Reveal Top Priorities for 2024

Appraisal Buzz

In the most recent Fannie Mae Mortgage Lender Sentiment Survey (MLSS), mortgage lenders listed “cost-cutting” and “talent management and leadership” as their two top business objectives for 2024. Lenders listed cost-cutting and talent management as their main goals for 2024, as was previously mentioned.

Mortgage 327
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Foreclosures expected to grow slowly the rest of 2024: Auction.com

Housing Wire

A survey of mortgage default servicing leaders revealed that foreclosures are expected to rise slowly during the second half of 2024, while ample amounts of home equity should keep many properties in loss mitigation from moving into foreclosure status. Respondents expected the U.S.

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2024 inventory growth challenges mortgage rate lockdown

Housing Wire

But 2024 has proven that theory wrong. 2024 has had healthy inventory growth despite mortgage rates above 7%. Here’s the new listings data for last week over the last several years: 2024 72,329 2023: 62,150 2022: 82,725 Price-cut percentage In an average year, one-third of all homes take a price cut — this is standard housing activity.

Inventory 518
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Forecasting the 2024 Hurricane Season

Appraisal Buzz

CoreLogic has issued its 2024 Hurricane Risk Report , offering an analysis of hurricane risk in the U.S., In the forecast for 2024, NOAA predicts 17-25 named storms, eight to 13 hurricanes, and four to seven major hurricanes. It also indicates an 85% chance of 2024 being an above-normal season.

Insurance 397
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What are you focusing your energy on in 2024?

Housing Wire

Nominations for the 2024 HousingWire Vanguards award are open throughout the month of July. Randell Gillespie, CPO, Lower Click here to nominate a 2024 HousingWire Vanguard. Here is what some of last year’s honorees had to say.

Clients 417