Will Springer Realtor

DECEMBER 19, 2023

The region’s real estate scene in 2023 will be remembered for rising home prices and scant new listings. As the year dims, all eyes fixate on 2024’s potential: a hopeful dance fueled by dreams of lower rates and a wave of new homes for sale. Here are some of the big questions to ponder in 2024.

Real Estate 68

Real Estate Buyers Sellers Inventory 68

Housing Wire

SEPTEMBER 12, 2023

So, the author tried to use new construction prices from back in April to describe the whole U.S. Last year inventory was about to start climbing again with that autumn spike in mortgage rates. Last year’s late summer inventory growth was a reaction to a big change in mortgage rates. on the 30-year mortgage.

Contracts 410

Contracts Inventory Housing Market Buyers 410

Listing Spark

FEBRUARY 7, 2024

As we enter into 2024, we are stepping out of one of the most turbulent years for real estate in Texas in some time. National mortgage originations closed the year at less than $1.5 5) New construction in Texas surged in 2023 Three major Texas metro areas made the top 10 list of highest new home construction rates in the nation.

Real Estate 36

Real Estate Sellers Home Value Inventory 36

Will Springer Realtor

FEBRUARY 13, 2024

And, despite the rise in new listings, the number of homes still on the market on Feb. The figures were promising from the single-family-home category as well, with new listings jumping 129% (1335) from December in King and up a negligible 0.5% fewer listings than December and 28% below January 2023 figures.

New Listings 54

New Listings Buyers Inventory Lending 54

Will Springer Realtor

JANUARY 9, 2024

The Federal Reserve recently updated its forecast, hinting at a potential decrease of about 75 basis points (0.75%) in its short-term lending rate by the year’s end – promising news for borrowers in 2024. Treasurys and mortgage-backed securities. Fully 60% of mortgaged homeowners have lending rates below 4.0%

Mortgage 36

Mortgage Real Estate Law Lending 36

Listing Spark

SEPTEMBER 25, 2023

A Dip in New Mortgages With interest rates soaring to unexpected heights, many prospective homebuyers have taken a step back from applying for new mortgages. The Rise of New Construction Homes New construction is stepping up to fill the void in the market.

Real Estate 69

Real Estate Sellers New Listings Inventory 69

Will Springer Realtor

SEPTEMBER 12, 2023

The market is spooking many potential buyers and sellers thanks to stubbornly high mortgage interest rates. fewer new listings, the rate of sales rose 1.7% fewer new listings (1998) compared to July and 5.0% At least that’s what some economists have expressed. Only buyers and sellers who must move are doing so.

Finance 68

Finance Inventory Construction Buyers 68

Will Springer Realtor

MARCH 12, 2024

This divergence of data put the mortgage market on its heels over the past several weeks and essentially reset rates after trending lower in December and January. As a result, home buyers and sellers across Seattle/King County saw a mixed bag of activity in February, according to the Northwest Multiple Listing Service (MLS).

Buyers 57

Buyers Construction Sellers Inventory 57

Housing Wire

JUNE 26, 2023

This lack of inventory has also resulted in the return of home price growth in recent months and has boosted new home construction, Fannie Mae ‘s Economic and Strategic Research (ESR) Group said Monday. The ESR group projects single-family mortgage originations for 2023 to be $1.59 In 2024, about $1.90 from -0.3%

Inventory 370

Inventory Construction New Listings Housing Market 370

Will Springer Realtor

MARCH 10, 2023

However, many potential buyers appeared to be in a wait-and-see mode amid a backdrop of rising mortgage rates that usually spell affordability challenges. Year Ago CONDO NEWS It’s full speed ahead at Avenue Bellevue , the two-tower, high-end condominium project in the heart of the city. Here’s a video of its progress. bath , 4527 sq.

Construction 36

Construction Modernization Buyers Inspection 36

Will Springer Realtor

AUGUST 15, 2023

Variations between the two years are stark, to say the least: A “re-evaluation” for future buyers can be defined as consumers determining when to jump (or jump back) into the home-search pool as mortgage rates appear stuck around 7.0%. Mortgage rates are high, home prices are high, there’s no inventory.” The county saw a 4.9%

Sellers 60

Sellers Buyers New Listings Inventory 60

Will Springer Realtor

MAY 13, 2024

Builders are trying to catch up and, according to federal officials , there are more housing units under construction today than at any time in the last 50 years. An annual survey released this month by the Federal Reserve Bank of New York said renters put the probability of ever owning a home at 40%, down from 44% last year.

HOA 36

HOA Transportation Construction Buyers 36

Will Springer Realtor

NOVEMBER 14, 2023

Sales activity across the county is at historic lows; no October has experienced fewer listings in King County – not even close – since at least 1992 when records were first archived online. New listings for all home types in King County stood at 2157, a whopping 25% drop from September to October. in 2024 and 4.5M

Inventory 36

Inventory Buyers Sellers New Listings 36

Will Springer Realtor

AUGUST 11, 2023

NAR’s Housing Affordability Index is a good measure of whether a household earns enough to qualify for a mortgage on a typical home. Others are specializing in the design and construction of accessory dwelling units (ADUs) as detached backyard homes (also known as “ mother-in-laws ”). >> Bellevue is rated No.

Buyers 36

Buyers Development Construction New Listings 36

Will Springer Realtor

MAY 9, 2023

Information from the National Mortgage Database shows 83% of all mortgage holders enjoy an interest rate below 5% when today’s average rate is about 6.5%. The council is seeking feedback from residents before the mandatory deadline to finalize its comprehensive plan hits on June 30, 2024, with changes enacted at the end of next year.

Real Estate 36

Real Estate Modernization Construction Supply Chain 36

Will Springer Realtor

JUNE 13, 2023

Home prices and mortgage rates. This means the negative YoY price decline – which is in a range of minus 7%-11%, depending on the submarket – will slowly return to positive territory, likely by early 2024. That changed in March 2022 when mortgage rates started their steady climb into the 4s, then into the 5s in May and 6s by September.

Buyers 36

Buyers Inventory Construction Finance 36

Will Springer Realtor

OCTOBER 11, 2023

Suburban residents can be almost assured of the peaceful enjoyment of their home without worrying about a neighbor constructing a rollercoaster or baseball stadium next door. 7, would raise some $970M and could create about 3100 new affordable homes throughout Seattle. Seattle alone saw a 29% (1213) monthly increase in new listings.

Law 36

Law Development Design Government 36

Will Springer Realtor

OCTOBER 11, 2022

At what point will mortgage interest rates peak? While investors of mortgaged securities help dictate their interest rates, the Federal Reserve is behind the scenes influencing the overall lending environment. When you raise [mortgage] rates to the point they’re at today, it breaks the back of housing.”. falls into a recession.

Housing Market 36

Housing Market Marketing Buyers Real Estate 36

Will Springer Realtor

MAY 9, 2022

just as Google opens another office building in Kirkland and Microsoft expands its 120-structure Redmond campus with plans for 17 new office buildings. All this tech construction gives new meaning to IT architecture! “A And just to the East in the Spring District, Meta has committed to a total of 1.8 million sq.

Architecture 36

Architecture Design Buyers Construction 36

Will Springer Realtor

DECEMBER 12, 2023

To a happy 2024! = It was a year of gyrating mortgage rates and stubbornly high home prices. Mortgage rates rose and rose again to more than 8% but have since mercifully fallen by nearly a percentage point. Just for Fun: In December 2022, the National Association of Realtors® projected mortgage interest rates would be 5.7%

Real Estate 36

Real Estate Buyers Housing Market Law 36

Will Springer Realtor

MAY 12, 2021

Home prices are overheating, mortgage rates are inching up from the start of the year and the supply of homes is in an unseasonable valley – far from its Mt. Roughly 20 million Millennials will be entering their 30s, typically the time they purchase their first home, between now and 2024. million more home listings across the U.S.

Real Estate 36

Real Estate Inventory Buyers Construction 36