Housing Wire

JANUARY 30, 2024

Two complex factors are set to transform the rental market in 2024, creating new challenges and opportunities for property managers. The second is a more competitive rental market, driven by record-high construction of multifamily rental properties.

Property Management 436

Property Management Marketing Real Estate Technology 436

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). ” According to Yun’s forecast, mortgage rates will fall to between 6% and 7% by spring 2024.

Real Estate 454

Real Estate Inventory Sellers Realtors 454

Eyes on Housing

FEBRUARY 16, 2024

Bureau of Labor Statistics, indicated that inputs to residential construction, goods less foods and energy (residential building materials, not seasonally adjusted) increased 1.28% between December 2023 and January 2024. The latest Producer Price Index, reported by U.S.

Construction 152

Construction 152

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.

Brokerage 437

Brokerage Real Estate Business Construction 437

Housing Wire

APRIL 4, 2024

Despite recent data indicating a poor affordable housing situation in Texas , the city of Houston must return $45 million in unused affordable housing funds to the state after failing to use them for construction of new homes. Instead, the city failed to begin construction on the homes in a timely manner.

Construction 446

Construction Government Housing Market Finance 446

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.

Contracts 454

Contracts Housing Market Construction Inventory 454

Housing Wire

JANUARY 9, 2024

Heading into 2024, there are continuing and emerging financing options, grant programs and legislation all designed to help homeowners and builders create much-needed infill housing. Draw structures for loans supporting new construction of ADUs, especially for prefab, are still “clunky.”

Finance 481

Finance Construction Tenants Renovations 481

Housing Wire

JUNE 7, 2023

The Mortgage Bankers Association (MBA) announced on Wednesday that Christine Chandler, the executive vice president, chief credit officer, and chief operating officer of M&T Realty Capital Corporation (RCC), has been nominated to serve as MBA’s vice chair for the 2024 membership year.

Real Estate 369

Real Estate Finance Realty Construction 369

Appraisal Buzz

APRIL 25, 2024

NAR forecasts that existing-home sales will rise by 9% in 2024 to 4.46 in 2024 to 1.43 Inventory will grow steadily from more home construction, and various life-changing events will require people to trade up, trade down or move to another location.” in 2024 to a record of $396,800 (from $389,800 in 2023) and another 1.8%

Inventory 195

Inventory Construction Realtors Appraisal 195

Housing Wire

NOVEMBER 30, 2023

Meanwhile, new home sales posted a better performance as homebuyers pivoted to new construction amid waning existing home supply. Home sales should perform better in 2024 even if affordability remains a challenge According to Bright MLS’s forecast , mortgage rates will continue to trend downward in 2024, finishing the year at 6.2%.

Housing Market 475

Housing Market Inventory Realtors Construction 475

Housing Wire

MARCH 4, 2024

New construction accounted for approximately 30% of active for-sale housing inventory, doubling the usual figures for a standard year. This surge in new construction activity sparked a wave of consolidation within the industry, with public and private homebuilders engaging in 12 merger and acquisition (M&A) deals throughout the year.

Construction 411

Construction Inventory Sellers Buyers 411

Housing Wire

DECEMBER 21, 2023

A rise in homebuilder confidence , followed by new home construction reaching its highest level since May, signals a response to meet heightened demand as current inventory remains low.” Lower rates will have a positive impact on affordability, Lisa Sturtevant, chief economist at Bright MLS, said in a statement.

Mortgage 497

Mortgage Inventory Construction Marketing 497

Housing Wire

FEBRUARY 12, 2024

Meanwhile, more apartments are under construction. Redfin chief economist Daryl Fairweather expects apartment completions to peak in 2024. The Midwest and the Northeast offered the most growth in rents because there has not been as much new construction in these regions. As a result, vacancies ticked up to a rate of 6.6%

Landlords 425

Landlords Construction Mortgage Marketing 425

Housing Wire

MARCH 5, 2024

They include the reallocation of funds originally earmarked for relief from the economic impacts of the COVID-19 pandemic for affordable housing construction, as well as new provisions for the 2021 American Rescue Plan (ARP) Emergency Rental Assistance (ERA) program to clarify the use of such funds for affordable housing.

Insurance 469

Insurance Construction Government Design 469

GoForrmz

JANUARY 12, 2024

Watch this panel discussion to see how easy it is to implement data automation on your job sites Held live on January 11, 2024, this webinar brings together The Rollout Crew, Bryan Builders, and GoFormz for a panel discussion about bringing data automation to your construction sites.

Construction 78

Construction Technology Tools Business 78

Housing Wire

OCTOBER 26, 2023

in 2024, hitting 800,000 new homes. For those new construction units, the national median new home price is projected to drop by 5.9% in 2024, to $445,800. In 2024, they should rise by 13.5% In 2024, it will rise to 1.48 Compared to 2022, NAR expects the sale of new homes to grow by 4.5% million, posting a 6.5%

Inventory 406

Inventory Contracts Housing Market Realtors 406

GoForrmz

DECEMBER 28, 2023

See how easy it is to add data automation to your job sites According to a Kabbage survey, 52% of construction companies are looking to ways to embrace digital solutions, in an effort to reduce paperwork, overcome labor shortages, and make the most of their business data. Is your construction team on board?

Construction 78

Construction Design Business Development 78

Housing Wire

JULY 27, 2023

in 2024, according to NAR’s forecast. million in 2024. Increased homebuilding will tame price growth, while limited construction will lead to home price appreciation outpacing income growth.” On the flip side, newly constructed home sales are forecast to increase 12.3% in 2024, to 820,000.

Construction 370

Construction Inventory Realtors Housing Market 370

Eyes on Housing

MARCH 20, 2024

Continuing NAHB’s commitment to be at the forefront of research on home buyer preferences, the 2024 edition of What Home Buyers Really Want was recently released at the International Builders’ Show.

Buyers 190

Buyers Construction 190

Eyes on Housing

APRIL 11, 2024

The NAHB/Westlake Royal Remodeling Market Index (RMI) for the first quarter of 2024 posted a reading of 66, down one point compared to the previous quarter. Demand for remodeling remains solid and an RMI of 66 is consistent with NAHB’s forecast for remodeling spending in 2024.

Marketing 129

Marketing Construction 129

Housing Wire

JANUARY 3, 2024

The recent decline in rates has given the housing market some cause for optimism going into 2024, but purchase applications have not yet picked up in response, with the overall level of purchase activity 12% lower than a year ago,” Kan said in a statement. Purchase applications decreased by 5% week over week on an adjusted basis.

Mortgage 435

Mortgage Housing Market Construction Inventory 435

Housing Wire

JANUARY 18, 2024

Housing starts declined 9% in 2023, an indication that homebuyers looking to purchase a new construction home may continue to struggle with the lack of inventory this year. by the end of 2024 from the current federal funds rate range of 5.25%-5.5%. 12 compared to a week earlier. The Fed next meets on Jan.

Mortgage 529

Mortgage Inventory Retail Construction 529

Housing Wire

NOVEMBER 14, 2023

. “Shelter inflation has been coming down slowly since the summer, as new residential construction activity ramped up in 2023,” said Lisa Sturtevant, chief economist for Bright MLS. ” The longer inflation stays elevated, the more customers expect inflation to remain high.

Construction 405

Construction Tools Investors Marketing 405

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 New home sales were at a seasonally adjusted annual rate of 662,000 in February, down 0.3%

Mortgage 195

Mortgage Construction Inventory Buyers 195

Housing Wire

APRIL 27, 2023

in 2024, and housing starts will fall 7.3% annual in 2024 to 1.54 annual increase in 2024, bringing existing home sales back up to 5.26 In the new construction sector , NAR predicts sales to increase 4.5% to $390,000 in 2024. In addition, NAR forecasts that mortgage rates will drop to 6.0% in 2023 and 5.6%

Inventory 427

Inventory Realtors Contracts Construction 427

Housing Wire

APRIL 3, 2024

The only entity to be immediately impacted in the initial rebranding stage is Ocwen itself, but a version of the new name is expected to roll out to both Liberty and PHH at some point in 2024. It has constructed a servicing platform while adding multi-asset originations and asset management capabilities.

Mortgage 402

Mortgage Business Design Construction 402

Housing Wire

FEBRUARY 27, 2023

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% in 2024 Despite these conditions, Yun still expects annual existing home sales to drop 11.1% In 2024, however, he anticipates an increase in existing home sales of 17.7%

Housing Market 427

Housing Market Realtors Contracts Buyers 427

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. Overall, there will be more home sales in 2024 than there were last year but the timing is uncertain,” Sturtevant said.

Mortgage 346

Mortgage Transportation Construction Housing Market 346

Sacramento Appraisal Blog

MARCH 14, 2024

UPCOMING SPEAKING GIGS: 3/19/24 WCR Gold Country (details here) 3/21/24 2024 […] The post The housing market is like nachos first appeared on Sacramento Appraisal Blog. I mean, how can you go wrong when relating the housing market to nachos? I also have some emerging trends to talk about below.

Housing Market 361

Housing Market Marketing Appraisal Construction 361

Housing Wire

APRIL 24, 2023

New home construction is expected to pull back later in 2023 – consistent with Fannie Mae’s forecasted recession – which is due, at least in part, to tighter credit availability for construction lending. For 2024, Fannie Mae anticipates volumes of $2.02 In 2024, home prices will decline by a further drop of 2.2%

Construction 383

Construction Inventory Lending Mortgage 383

Housing Wire

JULY 7, 2023

“Manufacturing activity remains quite weak, while consumer spending has held up somewhat better, and new home construction and sales have picked up. Our forecast is for a slowdown in economic activity in the second half of 2023, with a recovery in early 2024. The June employment report reinforces that forecast.”

Construction 370

Construction Renovations Government Inventory 370

Housing Wire

JANUARY 19, 2024

It requires economic and income growth and, most importantly, a steady buildup of home construction.” Heading into 2024, there were 1 million existing home units on the market, representing a 3.2 Continued strength in the homebuilding sector will be important to adding to supply in 2024,” Sturtevant said in a statement.

Inventory 437

Inventory Realtors Housing Market Construction 437

Housing Wire

APRIL 15, 2024

If this scenario unfolds, analysts and executives will be ready to update their baseline expectations for 2024, including fewer refinance and purchase loans than previously forecast. He added that it was high enough for him to remove one of the rate cuts he expected in 2024. in second-quarter 2024.

Mortgage 454

Mortgage Retail Buyers Investors 454

Housing Wire

JUNE 7, 2021

million until 2020-2024. Even in the years 2020 to 2024, however, which are very favorable for housing, I don’t see a credit sales boom or construction boom brewing in the current data — nor do I expect to see either of these shortly. We still have not seen housing starts begin the year at the level.

Housing Market 545

Housing Market Marketing Inventory Construction 545

GoForrmz

JANUARY 4, 2024

Master the transformative impact of digital forms One key component you may have found in your end-of-year planning is that in 2024, it might be time to find digital solutions to both ease the burden on your existing team, while also finding ways to streamline processes to be more efficient going forward.

Human Resources 78

Human Resources Project Management Legal Business 78

Housing Wire

MARCH 20, 2024

The PROGRESS in Lending Association released the names for its 2024 Innovations Award winners last week, including two vendors that are active in the reverse mortgage industry, according to an announcement.

Lending 413

Lending Mortgage Technology Construction 413

Housing Wire

FEBRUARY 4, 2024

” In December, the Fed talked about three rate cuts in 2024 but some people made a case for four, five or even six rate cuts given a Fed pivot. The 10-year yield is the key for housing in 2024. In my 2024 forecast , I set the 10-year yield range between 3.21%-4.25% , with a critical line in the sand at 3.37%.

Housing Market 501

Housing Market Marketing Mortgage Construction 501