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%. However, a silver lining in the subdued housing market is the strength in new-home sales. It’s a bifurcated market in that sense. So they are a policy buyer.

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Housing Market Marketing Buyers Investors 426

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). “The bond market is forcing the Fed to pivot.”

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Real Estate Inventory Sellers Realtors 454

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. Job additions and income growth will further help with housing affordability, but increased supply will be essential to satisfying all potential demand.”

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Contracts Housing Market Construction Inventory 451

Housing Wire

FEBRUARY 28, 2024

It is a notoriously expensive housing market and maintains an estimated population of more than 260,000 people, according to data from the 2020 U.S. Like many localities across the country, Marin County leaders describe a housing crisis in their area that they hope to alleviate through the construction of more ADUs.

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Construction Finance Mortgage Housing Market 366

Housing Wire

MARCH 28, 2022

Due to this reality, I have downgraded the housing market from unhealthy housing to a savagely unhealthy housing market. 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

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Housing Market Marketing Supply Chain Inventory 314

Housing Wire

NOVEMBER 4, 2021

To keep pace with current construction demand, and account for attrition, 740,000 new construction workers are needed each year for the next three years , a report by the Home Builders Institute contends. From 2022 through 2024, this total represents a need for an additional 2.2 million new hires for construction.

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Construction Renovations Training Development 524

Inman

JANUARY 26, 2024

With listings still in short supply, homebuyers are "dealing with an affordability shock" and new homes will play an outsize role in housing markets, Zonda Chief Economist Ali Wolf said at ICNY.

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Housing Market Marketing Construction Inventory 142

Housing Wire

NOVEMBER 30, 2023

Historically high rates harmed the housing market in October Annualized existing home sales remained below 4 million in October, the lowest rate since 2010. Meanwhile, new home sales posted a better performance as homebuyers pivoted to new construction amid waning existing home supply. New home sales fell 5.6%

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Housing Market Inventory Realtors Construction 453

Housing Wire

MAY 11, 2024

Mortgage rates and the bond market have fallen a bit recently and the spreads between the 10-year yield and 30-year mortgage rate have improved over last year’s levels. To see mortgage rates drop and stay lower, the bond market needs to know the labor market is getting softer. That’s a 0.50% difference in rates.

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Mortgage Inventory New Listings Housing Market 404

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%

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Housing Market Realtors Contracts Buyers 401

Housing Wire

JANUARY 9, 2024

Additionally, ADUs present an excellent solution for housing family members in need including aging parents by adding infill housing in the most desirable neighborhoods. Fannie Mae and Freddie Mac already have some guidelines for ADU financing, but they have yet to have a major impact on the overall supply in the market.

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Finance Construction Tenants Renovations 444

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. from 15% the week prior.

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Mortgage Housing Market Construction Inventory 342

Housing Wire

OCTOBER 26, 2023

in September despite significant affordability hurdles weighing on the market, according to data released Thursday by the National Association of Realtors (NAR). 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.

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Inventory Contracts Housing Market Realtors 363

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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Mortgage Transportation Construction Housing Market 274

Housing Wire

JANUARY 19, 2024

In reality, the demand for housing—and homeownership, in particular—has remained high, despite higher rates,” Lisa Sturtevant, the chief economist at Bright MLS , said in a statement. Prospective homebuyers have been shut out of the market by a lack of inventory. Compared to a month ago, housing inventory was down 11.5%

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Inventory Realtors Housing Market Construction 423

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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Marketing Construction Housing Market Buyers 140

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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Inventory Housing Market Construction Sellers 390

Housing Wire

FEBRUARY 4, 2024

There was rampant speculation after the Federal Open Market Committee (FOMC) meeting last week about the timing and number of interest rate cuts this year. ” 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. You’ve avoided a recession.

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Housing Market Marketing Mortgage Construction 491

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.

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Construction Government Housing Market Finance 397

Housing Wire

JANUARY 18, 2024

11, a decrease from last week’s 6.66%, according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday. This is an encouraging development for the housing market and in particular first-time homebuyers who are sensitive to changes in housing affordability. The 30-year fixed-rate mortgage averaged 6.6%

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Mortgage Inventory Retail Construction 529

Housing Wire

JULY 27, 2023

in 2024, according to NAR’s forecast. million in 2024. next year, to $395,000. “Home prices will be influenced by how much inventory is brought to market. Increased homebuilding will tame price growth, while limited construction will lead to home price appreciation outpacing income growth.” in 2024, to 820,000.

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Construction Inventory Realtors Housing Market 344

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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Landlords Construction Mortgage Marketing 348

Housing Wire

MAY 13, 2024

Mortgage Insurers — sent a letter on Monday to the Federal Housing Finance Agency (FHFA) to express concerns about the FHFA’s intent to publish the VantageScore 4.0 historical dataset. In the joint letter, the organizations contend that the data to be published under the plan is insufficient for their needs.

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Legal Mortgage Contracts Insurance 349

Housing Wire

JULY 7, 2023

The labor market is moderating gracefully, but conditions remain too hot for the Fed’s liking. Manufacturing activity remains quite weak, while consumer spending has held up somewhat better, and new home construction and sales have picked up. In the June jobs report, residential building construction employment is up 0.8%

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Construction Renovations Government Inventory 331

Housing Wire

JANUARY 1, 2024

The 2023 housing market faced one of the same roadblocks we saw in 2022: mortgage rates were too high for home sales growth. Now that we’re in 2024, the Federal Reserve ‘s rate hike cycle is over, so let’s look at what that means for housing demand and home prices. Instead, they closed 2023 at 6.67%.

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Housing Market Marketing New Listings Construction 525

Housing Wire

MARCH 1, 2024

Last year was a tough one for the Indiana real estate market. 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. Altos considers anything above a reading of 30 to be a seller’s market. as of February 29, 2024.

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Housing Market Marketing Inventory Construction 404

Housing Wire

MAY 10, 2023

We know home price growth and rent growth have been decelerating, and prices and rents have even been falling in some markets,” Sturtevant said. According to Yun, the Fed’s rate hikes have hurt regional banks and the housing market. In reflection of the current spring housing market, Sturtevant shares a similar view.

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Housing Market Insurance Realtors Buyers 347

Housing Wire

APRIL 27, 2023

in 2024, and housing starts will fall 7.3% annual in 2024 to 1.54 Sales of new homes are already matching 2019 pre-COVID activity and are expected to increase in 2023, largely due to plentiful inventory in this segment of the market.” annual increase in 2024, bringing existing home sales back up to 5.26

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Inventory Realtors Contracts Construction 395

Housing Wire

JANUARY 5, 2023

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. So where does all that drama leave us for 2023? Mortgage rates.

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Housing Market Marketing Inventory New Listings 532

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%

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Construction Inventory Lending Mortgage 357

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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Loan Officers Clients Mortgage Construction 352

Housing Wire

DECEMBER 19, 2023

The landscape of real estate is undergoing significant transformations in 2024, driven by a confluence of technological advancements, shifting market dynamics and evolving consumer behaviors. The housing market’s conditions, characterized by soaring prices and limited availability, have compounded these challenges.

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Real Estate Marketing Technology Tenants 445

Housing Wire

JANUARY 4, 2023

This article is part of our 2022 – 2023 Housing Market Forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business. percent to 5.24

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Housing Market Marketing Mortgage Contracts 503

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 Market Marketing Inventory Sellers 545

Housing Wire

JULY 20, 2023

There’s still overcapacity in the market and as part of lenders cutting costs, Fannie Mae expects more layoffs in the industry. “It’s Our view is there’s not going to be a sufficiently large turn in the market to justify the current amount of labor that’s been held,” Duncan noted.

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Housing Wire

JUNE 2, 2022

One top question he addresses is how the industry is reacting to this savagely unhealthy housing market. HW+ Member: What’s the number one question you are getting from the real estate agent community on the economy and housing market? This Q&A was originally hosted on June 1st. Then this happened.

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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. Significantly reduced housing inventory.

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