Housing Wire

APRIL 5, 2024

As a result, mortgage rates are likely going to stay elevated for longer.” 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. month over month to $34.69 and were up 4.1%

Mortgage 349

Mortgage Transportation Construction Housing Market 349

Housing Wire

JANUARY 26, 2024

The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. million and a 15.8% million units.

Contracts 450

Contracts Housing Market Construction Inventory 450

Appraisal Buzz

MARCH 26, 2024

The median sales price of new home sold in February 2024 was $400,500. As interest rates subside over the course of 2024, additional home buyers will be priced into the market and new construction will be needed to meet this demand.” “A compared with January but up 5.9% compared with February 2023, according to the U.S.

Mortgage 195

Mortgage Construction Inventory Buyers 195

Housing Wire

JANUARY 11, 2024

Although what lies ahead in the world of real estate and mortgage services in 2024 remains a bit uncertain, it’s now crystal clear that, beyond the already-tired suggestion that we “survive until ’25,” quite a few businesses will be seeking to find additional sources of revenue. Here’s why.

Brokerage 433

Brokerage Real Estate Business Construction 433

Housing Wire

NOVEMBER 30, 2023

As mortgage rates edged near multi-decade highs, pending home sales declined 1.5% Meanwhile, new home sales posted a better performance as homebuyers pivoted to new construction amid waning existing home supply. Pending home sales in October fell to their lowest level since 2001. down from 72.6 in September. New home sales fell 5.6%

Housing Market 471

Housing Market Inventory Realtors Construction 471

Housing Wire

FEBRUARY 12, 2024

Meanwhile, more apartments are under construction. Redfin chief economist Daryl Fairweather expects apartment completions to peak in 2024. Asking rents are stable, and while mortgage rates have dipped in recent months, they haven’t fallen enough to make the financial equation of homebuying feasible for many people.

Landlords 423

Landlords Construction Mortgage Marketing 423

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.

Housing Market 424

Housing Market Realtors Contracts Buyers 424

Housing Wire

JULY 27, 2023

The trade association forecasts the 30-year fixed mortgage rate to close at 6.4% in 2024, according to NAR’s forecast. With consumer price inflation calming close to the Federal Reserve’s desired conditions, mortgage rates look to have topped out,” Yun added. million in 2024. in 2024, to 820,000.

Construction 370

Construction Inventory Realtors Housing Market 370

Housing Wire

APRIL 1, 2024

In October 2023, the firm — which is known for its “buy before you sell” product that enables a mortgage lender to treat the client’s current home as sold while giving them the ability to sell their home on the open market for up to 90 days after buying their new property — launched a partner channel.

Loan Officers 414

Loan Officers Clients Mortgage Construction 414

Housing Wire

AUGUST 3, 2022

To say that mortgage rates have been on a wild Mr. Toad’s ride in 2022 is an understatement. People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% It’s savage man, truly savage with the mortgage rate rise.

Mortgage 498

Mortgage Inventory Sellers Housing Market 498

Housing Wire

SEPTEMBER 22, 2023

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. this week, Fannie Mae Chief Economist Doug Duncan believes that mortgage rates will stay elevated before the Fed makes further rate cuts. “We’ve Kim: Spreads in the mortgage space are wide.

Housing Market 442

Housing Market Marketing Buyers Investors 442

Housing Wire

MAY 10, 2023

Rent growth will decrease because apartment construction – entry units coming on the market – is already in the pipeline. Yun also noted that he is forecasting mortgage rates to fall closer to 6.0% He also anticipates new and existing home sales to bottom out in 2023 before rising again in 2024.

Housing Market 382

Housing Market Insurance Realtors Buyers 382

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.

Appraisal 75

Appraisal Contracts Architecture Mortgage 75

Housing Wire

MARCH 28, 2022

However, since I had the possibility of the 10-year yield getting to 2.42% and 4% plus mortgage rates, I accounted for that in the range. HousingWire: How will rising rates affect new home construction? Housing construction will be impacted if the monthly supply for new homes breaks above 6.5 months on a 3-month average.

Housing Market 370

Housing Market Marketing Supply Chain Inventory 370

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-January 2024. as of February 29, 2024. Both buyers and sellers are coming back to the market,” Fischer said. Very few new construction homes are going up in our area,” Diamond said.

Housing Market 433

Housing Market Marketing Inventory Construction 433

Housing Wire

FEBRUARY 8, 2024

In 2024, Tate received Coldwell Banker’s International President’s Premier Award representing the company’s top 1% of all sales professionals. Both buyers and sellers value the combined benefits of his individual talents along with membership in one of the most respected real estate firms in New York City.

Real Estate Agent 404

Real Estate Agent Real Estate Agents Clients 404

Housing Wire

JULY 6, 2023

The nation’s housing industry has entered a new normal in which the dynamics of the market appear perplexing — marked by high mortgage rates and high home prices, along with shrinking mortgage originations. trillion in mortgage originations in 2021. through the first quarter of 2024.” That compares to a record $4.4

Inventory 457

Inventory Renovations Real Estate Government 457

Appraisal Today

APRIL 5, 2024

NOTE: Please scroll down to read the other topics in this long blog post on appraiser discrimination lawsuit, waivers, staying positive with slow business, appraiser’s economic forecast, unusual homes, mortgage origination stats, etc. The second development in the case is that on March 22, 2024, the attorneys for Drs.

Appraisal 76

Appraisal Contracts Business Construction 76

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. In Birmingham, ERA King Real Estate agent Anna-Maria Ellison said that even without lower mortgage rates, she is seeing buyers return to the market. “It New construction is backed up,” she said.

Construction 404

Construction Supply Chain Inventory Agents 404

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% million. “If This was 9.5%

Construction 284

Construction Retail Mortgage Contracts 284

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.

Mortgage 483

Mortgage Inventory Housing Market Construction 483

Empire Appraisal Group

JANUARY 11, 2023

But even though mortgage rates and home prices are expected to moderate, home sales may still sag under persistent inventory shortages, housing economists predict. Next year, mortgage rates are expected to stabilize while home sales and prices moderate after recent highs, according to NAR’s forecast. compared to 2022.

Real Estate 78

Real Estate Marketing Buyers Sellers 78

Appraisal Today

APRIL 26, 2024

The 7 Sale Types Explained Excerpts: An arm’s length sale – a sale in which the buyers and sellers act independently and in their own self-interest is the most common type of real estate transaction. A non-arm’s length sale in real estate is a transaction between a seller and buyer who have a connection by marriage, family, work, etc.

Appraisal 75

Appraisal Real Estate Real Estate Agent Contracts 75

Eppraisal

MARCH 17, 2023

From COVID-19 interventions to supply chain disruptions to record inflation, the hits kept coming against a real estate market that was already experiencing diminished inventories and a growing pool of buyers. Mitigating factors, however, were that millennials were eager to buy first homes and mortgage rates were low.

Supply Chain 69

Supply Chain Home Value Inventory Construction 69

Appraisal Today

MARCH 15, 2024

NOTE: Please scroll down to read the other topics in this long blog post on USPAP and Personal Inspection, GSE Appraisal Modernization, Transaction costs and values including real estate commissions, unusual homes, mortgage origination stats, etc. = Mortgage rates were 18%+. By Dallas T. I worked for an assessor’s office then.

Appraisal 68

Appraisal Inspection Modernization Business 68

D Fritz Appraisals

JUNE 28, 2022

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. This significant increase came about due to the unprecedented combination of: All time low mortgage rates. What Canadian Home Buyers Can Expect in the Next 5 Years.

Real Estate 105

Real Estate Marketing Inventory Housing Market 105

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. So far, housing construction has done well during 2020-2022 considering the economic drama. Today, the U.S.

Construction 457

Construction Housing Market Inventory Buyers 457

Housing Wire

FEBRUARY 15, 2023

The NAHB/HMI report is based on a monthly survey of NAHB members, in which respondents are asked to rate both current market conditions for the sale of new homes and expected conditions for the next six months, as well as traffic of prospective buyers of new homes. Builders are continuing to offer a variety of incentives.

Mortgage 404

Mortgage Supply Chain Housing Market Construction 404

Housing Wire

FEBRUARY 5, 2024

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. High interest rates, rising inflation , growing labor costs and worker shortages weighed the most on homebuilders in 2023, and they’re poised to remain top of mind in 2024.

Construction 433

Construction Housing Market Buyers Sellers 433

Housing Wire

SEPTEMBER 21, 2023

Until interest rates come down, affordability challenges will continue to put first-time buyers on the sidelines, housing industry observers said. In an elevated rate environment, the lack of inventory continues to be the biggest challenge for many potential buyers, the Mortgage Bankers Association said. in 2024 and 5.1%

Real Estate 414

Real Estate Mortgage Buyers Inventory 414

Housing Wire

APRIL 16, 2024

Mortgage applications for new homes stalled in March as buyers felt the brunt of sustained home price growth. Compared to February 2024, mortgage applications for new-home purchases rose 1% in March. from March 2023, according to the Mortgage Bankers Association ’s (MBA) Builder Application Survey.

Buyers 424

Buyers Construction Mortgage 424

Housing Wire

DECEMBER 19, 2023

New construction rose to a seasonally adjusted annual rate of 1,560,000, according to the U.S. Single-family building activity drove November residential construction activity. Single-family building activity drove November residential construction activity. But permits for future construction fell 2.5% from October.

Construction 424

Construction Mortgage Development Buyers 424

Housing Wire

DECEMBER 4, 2023

Freddie Mac rolled out standardized subordinate lien documents for subordinate mortgages offered by down payment assistance (DPA) providers to facilitate easier and greater use of DPA program. Freddie Mac partnered with Fannie Mae and state HFAs to construct the standardized subordinate-lien documents.

Mortgage 424

Mortgage Tools Finance Construction 424

Housing Wire

JANUARY 20, 2023

Homebuilder confidence and demand for mortgages have increased recently, keeping hopes high for an improved housing market in 2023. But a modest recession is still expected this year, and elevated mortgage rates, coupled with high home prices, will limit housing activity, according to Fannie Mae. Prices are expected to fall 6.7%

Mortgage 393

Mortgage Housing Market Buyers Contracts 393

Housing Wire

APRIL 18, 2024

Existing home sales slumped last month under the weight of elevated mortgage rates. There are nearly six million more jobs now compared to pre-COVID highs, which suggests more aspiring home buyers exist in the market.” The inventory of existing homes has been steadily increasing, despite elevated mortgage rates.

Inventory 414

Inventory Real Estate Agent Sellers Buyers 414

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.

Inventory 457

Inventory Construction Housing Market Finance 457

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 In recent congressional testimony , Mortgage Bankers Association (MBA) chief economist Mike Fratantoni pointed out that the housing market is now extremely supply challenged.

Investors 450

Investors Marketing Inventory Real Estate 450