Housing Wire

DECEMBER 20, 2023

Did today’s existing home sales report give us a playbook for housing in 2024? However, this time around, the Federal Reserve rate hike cycle is over, and we don’t need to worry about Fed presidents going on CNBC in 2024 crying about 6% mortgage rates making their lives difficult. So, let’s not make that mistake in 2024.

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Housing Wire

MAY 21, 2024

“It’s oddly enough in states where people are leaving,” said Florida-based real estate investor Paul Lizell of the markets where he is more focused on acquiring investment properties in 2024. I’m still focusing on those markets with very low (retail) inventory. in Q1 2024, up from 55.0% Heat map link. in Q1 2023.

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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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Housing Wire

DECEMBER 29, 2023

The Federal Reserve recently signaled plans to slash interest rates three times in 2024, shifting toward the next phase in its monetary policymaking. “It At the end of the day if mortgage rates come down, I don’t just think that’s gonna solve the inventory problem right away,” said Ben Cohen, managing director at Guaranteed Rate.

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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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Housing Wire

NOVEMBER 7, 2023

As we plan for a gradual cycle turn in 2024, a few hot topics feel especially hot right now. Please reach out with your intel so we can all sharpen up ahead of 2024. Here are the MBA’s 2024 rate predictions by quarter: 6.8% How should mortgage firms rethink tech strategy in 2024? for Q1, 6.6% for Q2, 6.3% for Q3 and 6.1%

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Housing Wire

DECEMBER 20, 2023

percentage points above the average of four forecasts for the third quarter of 2024 and roughly 0.6 It also provided committee members’ forecasts of what would be the appropriate rate in 2024, which was based on their forecasts of inflation, GDP growth and other economic indicators. in the first half of 2024. 15, just 0.07

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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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Housing Wire

FEBRUARY 21, 2024

But 2024’s deals show investor interest has persisted. Even at the reduced pace of construction, that still means about 20% of all build-to-rent inventory is under construction today. The sector equates to just 1% of existing multifamily inventory. With the U.S.

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Housing Wire

NOVEMBER 30, 2023

“The modest uptick in demand over the last month signals that there will likely be more competition in a market that remains starved for inventory.” Despite the Federal Reserve’s mixed signals about rate hikes, many investors believe that the Fed won’t hike rates at the next Federal Open Markets Committee meeting on Dec.

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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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Housing Wire

MARCH 8, 2024

Real estate agents in the leafy suburbs of Bergen County, New Jersey say the current housing market — with historically low inventory and record-high prices — is actually more challenging than the multiple offer chaos they sweated through during the pandemic. “At as of March 6, 2024. We are still going to suffer from lack of inventory.”

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Housing Wire

APRIL 25, 2024

While DeRoussel’s experience sounds exactly like many of the stories that emerged from the pandemic-fueled homebuying frenzy of 2020 and 2021, this happened just a few weeks ago in early April 2024. “It We are going to see an increase in inventory. It is extremely competitive,” DeRoussel said of the Cincinnati housing market. “We

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Housing Wire

MARCH 18, 2022

Inventory has broken to all-time lows, but it doesn’t look like the year-over-year data will be positive at all this year unless demand softens up. NAR Research : Unsold inventory sits at a 1.7-month NAR Research : Unsold inventory sits at a 1.7-month However, negative year-over-year inventory is not what we want to see.

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Housing Wire

MAY 14, 2024

Despite persistently high interest rates , big four title firm Fidelity National Financial recorded a much stronger start to 2024 than it did a year ago. In first-quarter 2024 , Fidelity reported total revenue of $3.299 billion, up from $2.474 billion a year ago. The firm’s title segment reported $1.7

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Housing Wire

JUNE 28, 2022

I developed a specific home-price growth model for the years 2020-2024 which said that if home-price growth grew at 23% for five years we would be fine, with total housing demand —both new and existing homes together — getting to 6.2 Also, certain investors felt no fear post-2020. million or higher. I believe once we get between 1.52-1.93

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Housing Wire

MAY 8, 2024

“In down markets, the best agents and the best brokerages gain market share,” Reffkin, the CEO of Compass, told investors and analysts during his firms first-quarter 2024 earnings call on Wednesday evening. “We Year over year , Compass gained 26 basis points of market share, bringing its total share of home sales in Q1 2024 to 4.76%.

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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% Existing-home inventory in March improved 14.4% million home sales in 2024, a 9% increase from 2023. New-home sales jumped by 8.8% Meanwhile, existing-home sales receded by 4.3%

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Housing Wire

JANUARY 18, 2024

However, as purchase demand continues to thaw, it will put more pressure on already depleted inventory for sale,” said Sam Khater, Freddie Mac’s chief economist. 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.

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Housing Wire

APRIL 29, 2024

Rising mortgage rates and a slower housing market than anticipated contributed to the weaker financial performance of the title segments of some of the nation’s largest title firms during the first quarter of 2024. During Q1 2024 , First American recorded a total of $1.4 million, up from $45.9 million recorded year ago.

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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. Bidding wars are picking up as mortgage rates decline and inventory stays low,” Redfin agent Shoshana Godwin told Redfin. of investors have priced in a cut of at least a quarter point in March. Indeed, with a 6.7%

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Housing Wire

OCTOBER 17, 2023

The single-family rental (SFR) sector and its close cousin, the fix-and-flip market , are now essentially treading water in an environment of high interest rates , approaching 8%; high home prices; and a dearth of home-purchase inventory. That’s particularly true for mom-and-pop investors across both market segments.

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Housing Wire

MARCH 21, 2024

So, unless rates go down, this might be the high in sales in 2024. We will be laser-focused on tracking the purchase application data in relationship to the 10-year yield and mortgage rates going out the rest of the year From NAR: Total housing inventory registered at the end of February was 1.07 million in February.

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Housing Wire

JUNE 8, 2022

I am going to do my best to try to make sense of what is happening with the housing market right now, since the years 2020-2024 have been a talking point of mine for years and my biggest concern since the fall of 2020 has been prices overheating — not having a deflationary collapse. . Total inventory grew this year, and sales were negative.

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Housing Wire

APRIL 17, 2024

Expect 2024 to be mildly better than 2023 with mortgage rates falling in the second half of the year, housing experts opined in their forecasts at the end of the year. Some experts forecasted as many as six rate cuts in the year based on this news. Rising rates are already having visible effects.

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Housing Wire

JANUARY 19, 2024

Today, we need context for the growth we’ll see in existing home sales in 2024. Remember, with median sales prices and inventory, it’s very seasonal. However, remember, the dive in inventory is normal at this time of the year. This is a positive for housing in 2024 as most sellers are buyers.

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Housing Wire

JUNE 21, 2022

Now that we are almost in July, we can safely say the premise that once mortgage rates hit 4%, the mass panic selling of American homeowners who need to get out at all costs, driving total inventory up in the millions, hasn’t happened. Inventory skyrocketing back toward historical norms of 2 million to 2.5 Unsold inventory sits at a 2.6-month

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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. Clark’s team of 73 loan originators who cover the East Coast funded $81 million in loans in January 2024, up 35% from January 2023.

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Housing Wire

OCTOBER 26, 2023

“Purchase activity has slowed to a virtual standstill, affordability remains a significant hurdle for many and the only way to address it is lower rates and greater inventory.” trillion, before an expected 19% rebound in 2024 as rates finally start to trend downward,” Broeksmit said in a statement. million units sold.

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Housing Wire

NOVEMBER 8, 2023

presentation to investors in the blank-check SPAC that took the company public in 2020. presentation slide for investors in the SPAC that took it public, also in 2020. Growth prospects At the end of September 2022, Opendoor had 16,873 homes in inventory. “The largest, undisrupted market in the U.S.,”

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Housing Wire

FEBRUARY 23, 2024

Here are some charts reviewing today’s report with a host of data lines from the NAR existing home sales report: [link] A few critical glaring points: active inventory is still historically low, and so is monthly supply data. This means 2024 is starting to look a lot like 2023 unless rates fall soon.

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Housing Wire

FEBRUARY 21, 2023

However, the second is that inventory is simply too low, with too many people chasing too few homes, which means too many bidding wars. The total inventory today is still under 1 million at 980,000. Inventory is higher this year than last, but I will jump for joy again if we can just hit 1.52 regions while falling in the West.

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Housing Wire

NOVEMBER 9, 2023

“The purchase index is still more than 20 percent behind last year’s pace, as many homebuyers remain on the sidelines until more for-sale inventory becomes available.” New inflation data comes out Tuesday, giving investors more clues on the Fed’s path moving forward. probability of a hike in the next Fed’s meeting.

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Lamacchia Realty

DECEMBER 26, 2023

ANTHONY LAMACCHIA'S 2024 REAL ESTATE MARKET PREDICTIONS Anthony is obsessed with tracking the data and in this article written at the end of 2023 he explains how the market is shaping up based on trends and what Buyers and Sellers can expect in 2024. Allow me to go through a brief 2023 recap before I go onto my 2024 predictions.

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Housing Wire

FEBRUARY 18, 2022

When you add move-up, move-down, cash and investor buyers into the mix, you will have steady replacement buyer demand from 2020-to 2024. Millions of people buy homes each year, so demographics and mortgage rates are the two fundamental drivers of housing, and in the years 2020-2024, both are favorable for housing demand.

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Housing Wire

JUNE 15, 2022

Mohtashami focused on the latest inventory and the Federal Reserve’s rate hike announcement. HousingWire: Circling back to inventory, what is inventory data reflecting and how important is it to homebuyers? The weekly data is showing more inventory growth, so the NAR data will need time to catch up. Once we hit 1.52-1.93

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Housing Wire

JANUARY 20, 2022

As I have stressed for many years, years 2020-2024 would differ from what we saw from 2008-2019 due to demographics. However, total home sales — new and existing — during 2020-2024 should be 6.2 So far, demand is stable and stable demand means it’s unlikely we will see inventory rising at a high velocity.

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