Housing Wire

NOVEMBER 22, 2023

Going more in-depth than a Fed meeting, our virtual Housing Market Update event provides you with the strategy-building insights needed to operate in 2024. The number of home sales in 2023 will likely be at its lowest level since 2010, and while sales activity will pick up in 2024, transactions will still be below average.

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Housing Wire

DECEMBER 13, 2023

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year. Mortgage rates The experts unanimously foresee lower mortgage rates in 2024, although none expect rates to fall below 6%. to 6.05%. . million to 5.07

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Inventory Construction Mortgage Buyers 462

Housing Wire

NOVEMBER 25, 2023

However, the recent drop in housing inventory has more to do with seasonality factors than lower mortgage rates. Higher mortgage rates did push inventory higher during the seasonal period when it would normally be declining. The question now is what will inventory look like in the spring if mortgage rates keep falling?

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Inventory Mortgage New Listings Buyers 533

Appraisal Buzz

MARCH 25, 2022

First-time buyers are fighting a war on multiple fronts, trying to balance rising home prices and interest rates with near record low inventory of 870,000 units in February, a 1.7 But looking ahead, … The post Outlook: Buyers and Inventory Will Return by 2024 appeared first on DSNews. month supply.

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Housing Wire

FEBRUARY 7, 2024

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. Mortgage rates followed suit, walloping buyers’ purchasing power. New data from the U.S.

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Inventory Sellers Mortgage Marketing 411

Housing Wire

NOVEMBER 11, 2023

Total housing inventory growth has been slow in 2023, but with rising mortgage rates over the last few months, inventory has grown a bit faster than average. The question now is: Have we hit the seasonal peak in inventory for 2023? Last year, according to Altos Research , the seasonal peak for housing inventory was Oct.

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Inventory New Listings Mortgage Retail 471

Housing Wire

JANUARY 23, 2024

For what felt like a moment in time, buyers enjoyed the luxury of being incredibly picky, carefully selecting what felt like their dream homes in a market that had shifted towards more favorable conditions. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

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Real Estate Agent Real Estate Buyers Agents 431

Housing Wire

JANUARY 4, 2024

In the first week of 2024, mortgage rates continued to stick around the mid 6% mark. While lower mortgage rates are welcome news, potential homebuyers are still dealing with the dual challenges of low inventory and high home prices that continue to rise,” he added. The 30-year fixed-rate mortgage averaged 6.62% as of Jan.

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Mortgage Inventory Sellers Marketing 421

Housing Wire

JANUARY 29, 2024

Homebuyers are getting some relief in 2024 as mortgage rates recede from their 20-year high point of last October. mortgage rate, the prospective buyer with a $3,000 budget can afford a $453,000 home. In October, a buyer with the same monthly budget and a 7.8% Indeed, with a 6.7% 25, according to Freddie Mac.

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Buyers Mortgage Agents Investors 372

Housing Wire

NOVEMBER 21, 2023

Prospective home buyers experienced another difficult month due to the persistent lack of housing inventory and the highest mortgage rates in a generation,” NAR Chief Economist Lawrence Yun said in a statement. On the bright side, housing inventory rose 1.8% lower than October 2022 when inventory was at 1.22 All four U.S.

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Housing Wire

DECEMBER 1, 2023

The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan. on an annual basis in 2024. The FHFA’s increase for conforming loan limits in 2024 follows a formula that tracks increases in national home prices.

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Finance Buyers Mortgage Inventory 416

Housing Wire

MAY 10, 2022

The relative pressure of supply vs. demand in the housing market is gauged by the level of active inventory. Like dropping barometric pressure, plunging inventory usually foretells stormy conditions: Faster price growth and faster sales. The post When will housing inventory recover? appeared first on HousingWire.

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Inventory Housing Market Construction Sellers 394

Housing Wire

NOVEMBER 18, 2022

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. However, I knew the years 2020-2024 would see better demand from the bump in demographics.

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Inventory Marketing Housing Market New Listings 468

Sacramento Appraisal Blog

JANUARY 4, 2024

What’s the housing market going to do in 2024? UPCOMING (PUBLIC) SPEAKING GIGS: 01/12/24 Prime Real Estate (private event (I think)) 01/17/24 Gateway Event (private) 01/30/24 Joel Wright & Mike Gobbi Event 9am (on Zoom here) 2/09/24 […] The post Real estate trends to watch in 2024 first appeared on Sacramento Appraisal Blog.

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Real Estate Housing Market Appraisal Marketing 325

Housing Wire

FEBRUARY 13, 2023

The housing market experienced more volatility last week, with housing inventory dropping as mortgage rates moved higher. Weekly housing inventory continues to decline, as we saw a decrease of 13,238 units, double the amount we had this time last year. This means buyers have more say now in the home-buying process.

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Inventory Housing Market Mortgage Marketing 501

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. However, that hasn’t been the case so far in 2024.

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Inventory Housing Market New Listings Buyers 478

Housing Wire

MARCH 22, 2024

With low housing inventory nationwide, agents are using innovative ways to find real estate seller leads and convert them into listings. To help you snag more listings, we updated our list of proven strategies to win more real estate seller leads in 2024. When you buy through our links, we may earn a commission. Visit Matterport 6.

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Real Estate Sellers Real Estate Agent Tools 395

Housing Wire

MARCH 15, 2024

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

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Buyers Agents Mortgage Real Estate Agent 501

Appraisal Buzz

MARCH 26, 2024

The surge in listings is bringing some buyers back to the market, the firm says. Increasing inventory has yet to dampen price growth. Photo: Todd Kent The post Redfin: New Listings Continue to Increase, Bringing Some Buyers Back to Market appeared first on MortgageOrb. The median U.S. home-sale price is up 5.3%

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Housing Wire

AUGUST 18, 2021

I have often said that both purchase applications and housing starts would be limited until we hit the period of favorable housing demographics from 2020 to 2024. Specifically, I said that purchase applications would not get to 300 in the MBA index until 2020 to 2024. The post Why aren’t builders creating more housing inventory?

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Inventory Buyers Business Mortgage 518

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. In other words, if there were more inventory, we would have more sales happening.” through the first quarter of 2024.”

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Inventory Renovations Real Estate Government 460

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% million home sales in 2024, a 9% increase from 2023. The number of buyers who are bringing all cash to the transactions has been on the rise. “The New-home sales jumped by 8.8%

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Inventory Buyers Realtors Investors 371

Housing Wire

MARCH 9, 2024

If so, what will this do to inventory levels? In my 2024 forecast , I put the 10-year yield range between 3.21%-4.25% , with a critical line in the sand at 3.37%. Moving the needle doesn’t take much since we all know we have buyers ready to go and home sales are at record lows. But will mortgage rates keep heading lower?

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Mortgage Inventory New Listings Housing Market 469

Housing Wire

DECEMBER 26, 2023

But in 2024, industry analysts believe mortgage rates will be the primary focus for many firms. “I With mortgage rates trending downward in recent weeks and economists expecting them to further recede in 2024, analysts are feeling guardedly optimistic about how the publicly traded brokerages will perform in 2024. “I

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Brokerage Mortgage Agents Bracketing 433

Real Estate News

NOVEMBER 29, 2023

Forecasts from Realtor.com and Bright MLS offer varying degrees of optimism, with a split on inventory and an eye on wild cards like inflation and the election.

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Housing Wire

JANUARY 29, 2024

We played mortgage rate ping-pong, had unprecedented low levels of inventory and still there were escalating prices. Make the decision today that this is your year It’s your year in spite of mortgage rates, inventory levels, who your broker is, who gets elected and what you hear on TikTok about the market.

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Real Estate Agent Real Estate Agents Inventory 433

Housing Wire

DECEMBER 9, 2023

Weekly housing inventory data We will start with the price cut data percentage because it deserves a detailed explanation. Now lets take a look at the weekly inventory data. Last year, according to Altos Research , the seasonal peak for housing inventory was Oct. Weekly inventory change (Dec.

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Mortgage Inventory New Listings Sellers 529

Appraisal Buzz

APRIL 23, 2024

New home sales have generally been strong so far in 2024, despite higher mortgage rates and rising home prices. With many homeowners “rate-locked” into their existing homes, new homes are the only bright spot in a market suffering from low inventory.

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Mortgage Inventory Development Finance 369

Housing Wire

MARCH 5, 2024

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. Many of his buyers are still waiting for rates to come down before seeking preapproval for a mortgage. economy remains hot.

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Loan Officers Mortgage Buyers Inventory 404

Housing Wire

JANUARY 30, 2024

“With mortgage rates now lower and spring home buying demand already lurking, home prices will continue to rise, especially considering the outsized pent-up demand for homes coming from young buyers, those who have been waiting for lower rates, and huge influx of immigrants over the last couple of years.” in September to 7.8%

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Mortgage Buyers Housing Market Marketing 417

Housing Wire

NOVEMBER 30, 2023

It dropped on an annual basis for the sixth consecutive month NAR chief economist Lawrence Yun is optimistic that declining mortgage rates will help qualify more home buyers in the months ahead, but limited housing inventory will remain the sticking point.

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Housing Market Inventory Realtors Construction 467

Housing Wire

JANUARY 26, 2024

According to an NAR outlook, home sales are projected to rise significantly in 2024 and 2025 as the housing market steadily returns to normal. The trade organization projects a 13% increase in existing home sales between 2023 and 2024 for an annualized pace of 4.62 increase between 2024 and 2025 to a pace of 5.35 million units.

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Contracts Housing Market Construction Inventory 454

Housing Wire

MARCH 13, 2024

Smaller, more specific courses, such as The Buyer Presentation , are priced at $347. The club is currently offering founding member pricing for $25 per month or $250, but it’s a limited-time offer available only under April 30, 2024. Her 20+ years of experience practicing in Washington, D.C., Who’s it Best For? Who’s it Best For?

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Real Estate Real Estate Agent Agents Training 427

Housing Wire

OCTOBER 20, 2023

buyer hovers around $2,866, an all-time high according to Redfin. Of course, high mortgage rates and home prices don’t harm all-cash buyers and move-up buyers as greatly. In Newark, buyers need $160,000. Inventory remains one of the driving forces in this difficult housing market. higher than in September 2022.

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Housing Market Marketing Buyers Modernization 497

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. Elevated mortgage rates dampened homebuyer demand while a shortage of existing-home inventory kept prices elevated despite fewer buyers in the market. During the four weeks ending Nov.

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Inventory Buyers Mortgage Marketing 386

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. housing industry.

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Real Estate Real Estate Agent Tools Agents 398

Housing Wire

FEBRUARY 27, 2024

“These areas have seen substantial price growth over the last year as buyers sought affordability near strong economic centers,” Realtor.com senior economic research analyst Hannah Jones said in a statement. “Relatively sustained demand in these markets has taxed available inventory and driven home prices and rents higher.”

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