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%

Contracts 450

Contracts Housing Market Construction Inventory 450

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 303

Mortgage Transportation Construction Housing Market 303

Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% The 15-year fixed-rate mortgage averaged 5.76% this week, down from 5.87% the prior week.

Mortgage 527

Mortgage Inventory Retail Construction 527

Housing Wire

JUNE 7, 2021

During the previous economic expansion from 2008 to 2019, the housing market was subject to the constant refrain of build more homes. We first had to whittle down the excess inventory and get our financial house in order (i.e., million until 2020-2024. We still have not seen housing starts begin the year at the level.

Housing Market 545

Housing Market Marketing Inventory Construction 545

Housing Wire

DECEMBER 29, 2021

A bullish housing market. economic recovery was a false story and that we were about to embark on a second housing bubble crash due to forbearance. The housing market didn’t crash at all, in fact, more Americans bought homes with mortgages in 2021 than in 2020. What a year 2021 has been.

Housing Market 530

Housing Market Marketing Construction Mortgage 530

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. Kim: Spreads in the mortgage space are wide.

Housing Market 439

Housing Market Marketing Buyers Investors 439

Housing Wire

NOVEMBER 30, 2023

As mortgage rates edged near multi-decade highs, pending home sales declined 1.5% Historically high rates harmed the housing market in October Annualized existing home sales remained below 4 million in October, the lowest rate since 2010. Pending home sales in October fell to their lowest level since 2001. down from 72.6

Housing Market 468

Housing Market Inventory Realtors Construction 468

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. Due to this reality, I have downgraded the housing market from unhealthy housing to a savagely unhealthy housing market. The days on the market to sell a home is too low.

Housing Market 352

Housing Market Marketing Supply Chain Inventory 352

Housing Wire

MAY 13, 2024

A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. historical dataset. historical dataset. that use trended credit bureau data.

Legal 380

Legal Mortgage Contracts Insurance 380

Housing Wire

JANUARY 9, 2024

For homeowners, ADUs can generate substantial rental income that assists homeowners in covering escalating property taxes and mortgage payments. Additionally, ADUs present an excellent solution for housing family members in need including aging parents by adding infill housing in the most desirable neighborhoods.

Finance 469

Finance Construction Tenants Renovations 469

Housing Wire

OCTOBER 26, 2023

Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” Lawrence Yun, NAR chief economist said in a statement. 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%

Inventory 393

Inventory Contracts Housing Market Realtors 393

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 420

Housing Market Realtors Contracts Buyers 420

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.

Housing Market 195

Housing Market Marketing Construction Inventory 195

Housing Wire

JANUARY 19, 2024

Slow home sales in 2023 were accompanied by higher mortgage rates , with the average rate on a 30-year fixed rate mortgage hitting a 23-year high in early November. But we can’t blame high mortgage rates for the deficit in transactions last year. Compared to a month ago, housing inventory was down 11.5% In 2023, 4.09

Inventory 432

Inventory Realtors Housing Market Construction 432

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 366

Construction Inventory Realtors Housing Market 366

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. However, for me it’s always been about the labor market and jobless claims data, and that data line hasn’t broken enough for the Fed to be more aggressive.

Housing Market 497

Housing Market Marketing Mortgage Construction 497

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 387

Landlords Construction Mortgage Marketing 387

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

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. As of mid-March, Richards said the company had signed up more than 20 clients with an aggregate total of more than 5,000 mortgage originations.

Loan Officers 389

Loan Officers Clients Mortgage Construction 389

Housing Wire

JULY 7, 2023

“The incoming economic data has been filled with conflicting signals,” said Mortgage Bankers Association SVP and Chief Economist Mike Fratantoni in a statement. Manufacturing activity remains quite weak, while consumer spending has held up somewhat better, and new home construction and sales have picked up.

Construction 361

Construction Renovations Government Inventory 361

Housing Wire

APRIL 27, 2023

In addition, NAR forecasts that mortgage rates will drop to 6.0% in 2024, and housing starts will fall 7.3% annual in 2024 to 1.54 Sales in the second half of the year should be notably better than the first half as job gains continue and more favorable mortgage rates are expected,” Yun said. to $390,000 in 2024.

Inventory 418

Inventory Realtors Contracts Construction 418

Housing Wire

APRIL 24, 2023

Housing demand and home prices have proved to be more resilient than expected in the first quarter of the year, but home sales will remain subdued largely due to the rate lock-in effect , according to Fannie Mae ‘s forecast. For 2024, Fannie Mae anticipates volumes of $2.02 For 2024, Fannie Mae anticipates volumes of $2.02

Construction 378

Construction Inventory Lending Mortgage 378

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.

Housing Market 525

Housing Market Marketing New Listings Construction 525

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. Yun also noted that he is forecasting mortgage rates to fall closer to 6.0%

Housing Market 374

Housing Market Insurance Realtors Buyers 374

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.

Housing Market 427

Housing Market Marketing Inventory Construction 427

Housing Wire

JULY 20, 2023

Lenders point to cost-cutting as their top business priority amid the mortgage industry facing a number of challenges – including high home prices , tight inventory of homes available for sale and interest rate hikes. The reason, if a recession occurred was going to be mild, was because of housing. economy is on the wrong track.

Lending 365

Lending Technology Business Construction 365

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. Mortgage rates. Home price s.

Housing Market 542

Housing Market Marketing Inventory New Listings 542

Housing Wire

SEPTEMBER 13, 2023

Additionally, apartment construction is strong , which puts an additional pressure on landlords to avoid vacancy. “The recent rent and house price declines are only just starting to show up in the CPI and will likely drag down headline CPI through 2024,” added Potapov. The rent index was up 7.2% a year earlier.

Landlords 376

Landlords Insurance Construction Realtors 376

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

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.”

Inventory 457

Inventory Renovations Real Estate Government 457

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.

Real Estate 461

Real Estate Marketing Technology Tenants 461

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. million and 4.57

Housing Market 524

Housing Market Marketing Mortgage Contracts 524

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? Months are homes under construction 0.8 Ghost Supply 2.2

Training 419

Training Inventory Housing Market Real Estate Agent 419

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. Housing permits and starts are falling now, even with the backlog of homes in the system. With less transaction volume , general incomes in the housing sector are falling.

Housing Market 545

Housing Market Marketing Inventory Sellers 545

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 23, 2024

The year 2024 has started with cautious optimism that mortgage rates will drop, sparking much-needed activity in the sluggish U.S. housing market. Mortgage rates, however, have been on a rising trend of late. HousingWire’s Mortgage Rates Center showed the 30-year fixed-rate mortgage at 7.21% on Feb.

Housing Market 457

Housing Market Marketing Retail Mortgage 457

Housing Wire

OCTOBER 19, 2023

Rates on the 30-year fixed-rate mortgage eclipsed 8% this week as the Treasury yield surpassed 4.9% Per Mortgage News Daily , mortgage rates touched 8.03% on Wednesday, up from 7.69% the previous week. By contrast, the 30-year, fixed-rate mortgage was at 6.94% a year ago at this time.

Mortgage 464

Mortgage Housing Market Inventory Construction 464