Housing Wire

FEBRUARY 27, 2023

Buyers responded to better affordability from falling mortgage rates in December and January,” Lawrence Yun, NAR’s chief economist, said in a statement. 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% annual jump in 2024.

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Housing Wire

MAY 11, 2024

However, this year, even though the spreads are still historically bad, they’ve improved over last year, which is a plus for the housing market. This can be partly due to a higher percentage of cash buyers in the sales mix that purchase applicatoins won’t account for. Right now, the difference between them is 2.60%.

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Housing Wire

APRIL 5, 2024

Job gains were most notable in the health care (+72,000), government (+71,000) and construction (+39,000) sectors. In March, employment continued to trend up in construction, adding 39,000 jobs month over month. million openings one year prior, according to other recent job market data. month over month to $34.69 and were up 4.1%

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Housing Wire

JULY 27, 2023

in 2024, according to NAR’s forecast. Given the ongoing job additions, any meaningful decline in mortgage rates could lead to a rush of buyers later in the year and into the next.” million in 2024. On the flip side, newly constructed home sales are forecast to increase 12.3% in 2024, to 820,000.

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Housing Wire

MAY 10, 2022

This article is part of our housing market economic update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. The housing market is heading toward an inflection point — a rebalancing that will mean the end of the record-high price appreciation we’ve seen over the past year.

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Housing Wire

FEBRUARY 12, 2024

An abundance of new apartments recently hit the market, giving renters more options to choose from. Meanwhile, more apartments are under construction. Redfin chief economist Daryl Fairweather expects apartment completions to peak in 2024. Landlords have less pressure to fill vacancies in these markets, Redfin reported.

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Inman

SEPTEMBER 27, 2023

New-construction homebuilders are using incentives to garner an outsized share of the current housing market and capitalize on buyer demand. Windermere Chief Economist Matthew Gardner checks the numbers to see how their strategy is working now and what it means for 2024.

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Housing Wire

MAY 10, 2023

According to Yun, the Fed’s rate hikes have hurt regional banks and the housing market. Rent growth will decrease because apartment construction – entry units coming on the market – is already in the pipeline. He also anticipates new and existing home sales to bottom out in 2023 before rising again in 2024.

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Housing Wire

MARCH 1, 2024

But as the calendar flipped to 2024 and as we inch closer to the spring selling season, Fischer said things have started to pick up. In mid-June 2023, the statewide 90-day average Altos Market Action Index score hit a high for year of 53.99, before sliding down to a trough of 40.03 in mid-January 2024. as of February 29, 2024.

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Housing Wire

APRIL 1, 2024

While many proptech companies have struggled to adapt to the slower housing market conditions and challenging venture capital environment, Flyhomes is viewing this as a time to grow. By the end of second-quarter 2024, Flyhomes hopes to be licensed and operational in 40 states. “So, This is just one more arrow in their quiver.”

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Appraisal Today

NOVEMBER 3, 2023

Advisory Opinions For 2024, the ASB has retired Advisory Opinion 16 (AO-16) and replaced it with two new Advisory Opinions, AO-39 and AO-40. These requirements are carried forward in the 2024 edition of USPAP. USPAP 2024 is effective January 1, 2024. To read more, click here My comments: Be sure to read this blog post.

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Housing Wire

JULY 6, 2023

This, in part, is causing the tight inventory we’re seeing in the housing market today, as two out of every three houses have mortgages with interest rates below 4% and aren’t motivated to sell their house unless a significant circumstance warrants it.” through the first quarter of 2024.”

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Housing Wire

AUGUST 3, 2022

The question is, can lower mortgage rates save the housing market from its recent downtrend? This is why I focused my readers on the years 2020-2024, because if home prices only grew by 23% over five years, we would be ok. housing market. The post Can lower mortgage rates stop the housing recession?

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Housing Wire

DECEMBER 29, 2022

As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. A few months ago, I was asked to go on CNBC and talk about why I call this a housing recession and why this year reminds me a lot of 2018, but much worse on the four items above.

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Housing Wire

FEBRUARY 13, 2024

Walker said the prospect of lower mortgage rates is prompting many agents to feel more positive about the 2024 housing market. Lower rates are likely to make homeownership accessible to more buyers and it should prompt some potential sellers who are locked in at a rate of 3% or less to list. As of Feb.

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Appraisal Today

APRIL 5, 2024

To see the listing with 19 photos, Click Here == LoanDepot Appraisal Discrimination Settlement By Peter Christensen, March 28, 2024 Connolly and Mott v. The second development in the case is that on March 22, 2024, the attorneys for Drs. a state-of-the-art home gym, salon, yoga room. No pickleball court. District Court, Maryland.

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D Fritz Appraisals

JUNE 28, 2022

What do Experts Think the Victoria, BC Housing Market Will Look Like by 2027? The state of Victoria’s housing market is never far from anyone’s mind, especially for first-time home buyers, those moving to a new area or for people looking to sell. Pace of Real Estate Market Steady into Spring.

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Housing Wire

OCTOBER 11, 2021

housing market this year? If we stick to the facts, however, we can glean a few important take-homes as to what risks the housing market faces for 2021 and beyond. From 2008 to 2019 we had the weakest housing recovery ever, following a bust. Don’t expect a buying or construction boom during this period.

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Empire Appraisal Group

JANUARY 11, 2023

Some housing markets may see an uptick in homebuying activity at the beginning of the year, especially if mortgage rates continue receding from a recent high of 7%. Still, mortgage rates are more than double what they were a year ago, ramping up rapidly this fall and walloping housing affordability. Realtor.com®

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Housing Wire

MARCH 17, 2022

Census Bureau released their construction report for February, showing a positive trend in housing construction data with a lovely print in housing permits at 1,859,000 and housing starts at 1,769,000. Of course, that’s until you look at the housing completion data, which hasn’t gone anywhere in years.

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Housing Wire

AUGUST 24, 2023

Fannie Mae maintains its baseline call for a recession to occur – forecasting it to begin in the first half of 2024. In its July ESR note , Fannie Mae projected a modest recession beginning in Q4 2023 or Q1 2024. on a Q4/Q4 basis and revised its 2024 GDP growth prediction to a 0.2% decline from 0.1% This was 9.5%

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Housing Wire

FEBRUARY 5, 2024

Department of Housing and Urban Development. single-family homes for sale were new construction, similar to the percentage from a year earlier and good for the highest level of any fourth quarter on record. In 2024, 52% expect it to remain an obstacle. About 58% expect this to remain an issue in 2024.

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Housing Wire

JANUARY 3, 2024

Housing experts expect that a boost in apartment inventory in 2024 will dampen rent growth. Real Estate Market Outlook 2024. About 900,000 units are currently under construction , and 440,000 new units are expected to be completed in 2024, according to the report. However, affordability woes will persist.

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Housing Wire

MARCH 23, 2022

We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housing market was last year — and it got a lot worse this year — it’s a blessing that was much needed. million or higher during 2020-2024. The demographic bump in 2020-2024 is giving us a push in demand.

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Mortgage Inventory Housing Market Construction 482

Housing Wire

SEPTEMBER 22, 2020

housing market and compare those to where we are today — in the middle of one of the most epic years in our country’s history, due to COVID-19. No doubt about it, the COVID crisis has taken some juice out of the 2020 housing market. The February housing data, pre-COVID, was juicy indeed.

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Housing Wire

AUGUST 16, 2023

Due to the restrictions these regulations have created, Kamps said the HBACA is concerned about the area’s housing supply and housing affordability moving forward. The homes they are looking to build in the restricted areas are on the outskirts of the city, so I just don’t see it having a big impact on housing prices,” Fay said.

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Will Springer Realtor

NOVEMBER 9, 2022

Construction is only a few floors away from topping out at around 25 stories. Buyers can purchase a space for $79K but availability is limited. Less than two blocks north, a 138-unit, high-rise condo is under construction. Also known as Mari Bellevue, the project is targeting a 2024 opening. ———-.

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Housing Wire

SEPTEMBER 21, 2023

The housing market will remain subdued until the Federal Reserve starts cutting rates next year, according to economists and housing pros following the central bank’s Wednesday announcement to leave the benchmark rate unchanged in the target range of 5.25%-5.5%. in 2024 and 5.1%

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Housing Wire

MARCH 26, 2024

Still, despite the gloomy news of late for SFR and fix-and-flip investors, some industry experts see better fortunes ahead in 2024 for both sectors. “We We didn’t call it a bear market, but we did call it a lack of liquidity, which I think is more accurate,” said L.D.

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Investors Marketing Inventory Real Estate 473

Housing Wire

APRIL 25, 2023

According to this theory, we have more homes under construction than any time in history. I understand the lure of the housing 2008 story. In their haste, they miss the bigger picture of the housing market. Concerning the housing economics demand curve, it’s always about the net people living and working.

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Inventory Housing Market Construction Marketing 495

McKissock

SEPTEMBER 7, 2021

If NAR’s prediction is correct, the space tech boom could also mean a housing boom, which would create opportunities for builders, buyers, and real estate agents alike. By 2024, SpaceX plans to transport passengers to Mars from its locations in Cameron County, Texas and Santa Barbara, California. What’s Next?

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Housing Wire

NOVEMBER 27, 2023

However, new home sales were still up year-over-year due to a lack of housing inventory in the resale market. Builders have been struggling with the increased cost of borrowing, while many buyers were priced out of an unaffordable housing market. What to expect in 2024? Nationwide, 30.6%

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Housing Wire

APRIL 18, 2024

There are nearly six million more jobs now compared to pre-COVID highs, which suggests more aspiring home buyers exist in the market.” At the end of March, total housing inventory sat at 1.11 Meanwhile, new construction of both single-family and multifamily homes receded in March. million units, up 4.7% from one year ago.

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Inventory Real Estate Agent Sellers Buyers 397

Housing Wire

FEBRUARY 15, 2023

Temperatures are slowly starting to rise in many parts of the country as we head into spring — and so is homebuilder sentiment, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Wednesday. Builders are continuing to offer a variety of incentives.

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Housing Wire

NOVEMBER 16, 2023

Elevated mortgage rates sank builder confidence again in November, but recent economic data suggests housing conditions will pick up in the coming months. On the construction side, homebuilders as well as land developers found it hard to finance projects because of high short-term interest rates. Bureau of Labor Statistics.

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Appraisal Today

MARCH 15, 2024

However, a closer examination reveals potential drawbacks, raising questions about its efficacy and impact on the housing market. If you are a paid subscriber and If you are a paid subscriber and did not get the March 2024 issue emailed on Friday March 1, 2024, please email info@appraisaltoday.com , and we will send it to you.

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Housing Wire

FEBRUARY 21, 2024

The deal came on the front end of market hype about the build-to-rent space, which cooled somewhat in 2023 as higher interest rates prompted a pullback by builders. But 2024’s deals show investor interest has persisted. Similarly, construction has slowed but remains elevated.

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