Housing Wire

NOVEMBER 22, 2023

Going more in-depth than a Fed meeting, our virtual Housing Market Update event provides you with the strategy-building insights needed to operate in 2024. It’s a savagely unhealthy housing market out there, and these economists unpack what that means for you. Register for the virtual event on Dec.

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Housing Wire

NOVEMBER 21, 2023

Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. Multiple offers, however, are still occurring, especially on starter and mid-priced homes, even as price concessions are happening in the upper end of the market.” from September, with 1.15

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Inventory Realtors New Listings Contracts 386

Appraisal Buzz

MAY 31, 2024

Homebuyer affordability conditions declined further as mortgage rates remained above 7 percent in April, sidelining many prospective buyers from entering the housing market,” explains Edward Seiler, associate vice president, housing economics, and execuive director, Research Institute for Housing America.

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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). 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.

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Inventory Contracts Housing Market Realtors 366

Housing Wire

SEPTEMBER 17, 2021

Despite several indicators of a slowing housing market, prospective home buyers should not get too excited – inventory remains limited and changes are in line with the traditional seasonal slowdown, according to RE/MAX ’s August national housing report. The report analyzes MLS data from 51 U.S. in August from July.

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Housing Wire

AUGUST 24, 2023

The daily average mortgage rate of 7.36% on August 23 is close to its highest level in over 20 years, with the average monthly mortgage payment is around $2,700 today, $400 higher than at the same point in August of 2022. A homebuyer on a $3,000 monthly budget, for example, could afford a $429,000 home with a 7.4%

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Housing Wire

FEBRUARY 22, 2022

This is the highest calendar year increase in 34 years of data, and substantially ahead of 2020’s 10.4% The Federal Housing Finance Agency found that U.S. house prices rose 17.5% The Federal Housing Finance Agency found that U.S. house prices rose 17.5% Housing trends over the past year have created challenges.

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Housing Wire

OCTOBER 20, 2023

The last two years of soaring mortgage rates and rising home prices have brought the fastest erosion in housing market affordability in modern history, and it’s hurt first-time homebuyers the most. That’s the highest annual income necessary to afford a home on record. Meanwhile, wages have only increased by 5% since 2022.

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Housing Wire

SEPTEMBER 3, 2023

Weekly active listings rose by only 5,654 Mortgage rates went from 7.37% and ended the week at 7.08% Purchase apps rose 2 % week to week Mortgage rates and the bond market The 10-year yield and mortgage rates were wild last week. Now, after the jobs week, one thing is sure: the labor market isn’t as tight as it used to be.

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Mortgage Inventory New Listings Marketing 447

Housing Wire

OCTOBER 8, 2021

Demand for housing is primed to deteriorate further based on the latest consumer sentiment survey findings from the University of Michigan. Only 29% of those surveyed in September 2021 said now is a good time to buy a home, down from a recent high of 63% in March to the lowest level since 1982. Renovated Inventory to the Rescue.

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Renovations Inventory Marketing Property Taxes 542

Housing Wire

JULY 13, 2023

Mortgage rates continued rising for the third consecutive week, increasing to 6.96%, the highest level since November 2022. However, it is unlikely to be enough to prevent an additional rate hike at the next Federal Open Markets Committee meeting on July 25-26. from a year ago, the smallest annual increase since March 2021.

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Mortgage New Listings Buyers Inventory 347

Housing Wire

MAY 12, 2021

cities determined that Seattle is the top market for real estate agents to currently work in, and Corpus Christi, Texas, was deemed the worst. In studying the cities, two factors were considered — job opportunity and competition, and real estate market health. A recent WalletHub study of 179 U.S. Similarly, Washington D.C.

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Real Estate Agent Real Estate Agents Marketing 392

Housing Wire

JANUARY 26, 2021

Record low inventory and strong buyer demand once again pushed up the cost of homes in the U.S., Though demand typically cools in the early winter months, CoreLogic deputy chief economist, Selma Happ, said housing once again exceeded expectations. How manufactured homes can help alleviate the affordable housing crisis.

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Inventory Housing Market Buyers Sellers 544

Housing Wire

OCTOBER 25, 2021

of offers written by Redfin agents ended up in a bidding war, the lowest rate so far in 2021 and nearly on par with the September 2020 bidding war rate of 58.3%. Although this is a clear sign of a slowing market, housing economists say the changes are along the lines of typical seasonal slowdowns. In September, 58.9%

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Renovations Inventory Agents Housing Market 404

Housing Wire

FEBRUARY 12, 2024

Amanda Phillips, EVP of Compliance, ACES Quality Management In the current mortgage landscape, ensuring the highest standards of loan quality is paramount not only during the origination process but also over the life of the loan. Thankfully, the tune of the housing industry has changed over the last few weeks.

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Mortgage Technology Inventory Lending 359

Housing Wire

MAY 24, 2023

debt ceiling impasse and the resilient economy led mortgage rates to climb to the highest level in two months. The housing market received positive data on new residential construction – which is seen as a key solution to the lack of housing inventory,” Kan added. Last week, the U.S.

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Mortgage Inventory Retail Housing Market 380

Housing Wire

AUGUST 31, 2021

With little inventory, home-price growth in the U.S. June marked the highest annual rate of home price growth since the index debuted in 1987, beating out the 16.8% “Some early data suggests that the buyer frenzy experienced this spring is tapering, though many buyers still remain in the market. . increase in May.

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Housing Wire

MAY 5, 2022

This article is part of our housing market update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. Demographics still point towards a market with strong demand – the largest cohort of millennials, the largest generation in U.S. To register for the HW+ event, go here.

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Housing Wire

MAY 29, 2024

It has ups and downs, you get bumps and bruises along the way, but in the last four years, we have had the highest of highs and the lowest of lows. As a leader, one of the hardest things, when you are dealing with going from the highest highs to the lowest lows, is just the fatigue.

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Housing Wire

JUNE 26, 2023

Rising mortgage rates , lower homebuyer demand and fewer homeowners choosing to sell their homes caused the housing market to slow during the second half of 2022. Old Republic had the second lowest RAC at 158%, six percentage points lower than a year ago.

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Housing Wire

JUNE 16, 2022

neighborhood, housing market, Fall, homes, new house sales, forbearance. The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall.

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Housing Market Marketing Loan Officers Mortgage 414

Housing Wire

DECEMBER 3, 2020

1 midsized housing market to watch in 2020 , according to Zillow, because of its draw for young professionals, families, and retirees alike. The demand is clear — the Boise housing market has just 0.3 The demand is clear — the Boise housing market has just 0.3 Boise, Idaho was the No.

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Marketing Realty Realtors Housing Market 531

Housing Wire

APRIL 25, 2023

Mortgage financing and the prospect of economic weakness are therefore likely to remain a headwind for housing prices for at least the next several months,” Lazzara said. Mortgage financing and the prospect of economic weakness are therefore likely to remain a headwind for housing prices for at least the next several months,” Lazzara said.

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Inventory Contracts Buyers Sellers 326

Housing Wire

JULY 26, 2023

range on Wednesday, its highest level in 22 years. While the markets have already “priced in” this rate hike, which was widely expected, most investors are already wondering what it would take for the central bank to lift rates again later this year. The Federal Reserve (Fed) raised the federal funds rate 25 basis points to the 5.25

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Investors Tools Mortgage Inventory 369

Housing Wire

JULY 29, 2021

Though the desire for buyers to purchase a new home remains strong, skyrocketing prices are putting the dream out of reach for some buyers, economists in the housing industry said. May’s 8% increase was the highest jump for that month since 2005, according to NAR. And, with demand easing and housing starts improving to 1.65

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Marketing Buyers Realtors Real Estate 433

Housing Wire

APRIL 30, 2021

But the Scottsdale housing market, and Arizona as a whole, has seen an enormous uptick in out-of-state movers in the past 14 months — when the COVID-19 pandemic began spreading across the country, ultimately allowing people to work from home and seek larger, more cost-effective lots to live on. from 2010, per a recent U.S.

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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. While the central bank left the benchmark rate unchanged in the target range of 5.25%-5.5%

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Housing Market Marketing Buyers Investors 426

Housing Wire

APRIL 23, 2021

While 2021 likely won’t approach the record breaking tizzy of 2020, the housing market will continue to flourish on the strength of the purchase market, according to economists at the Mortgage Bankers Association. trillion, which would still be the third-highest total on record. After last year’s record $3.83

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Marketing Housing Market Inventory Mortgage 457

Housing Wire

NOVEMBER 30, 2022

Relief from the rate-driven volume reduction afflicting both the primary and secondary mortgage markets is expected to be elusive for some time to come, at least in terms of any renewed refinancing boost. We’re going to have a housing correction.”. We’re going to have a Fed-induced consumer slowdown ,” Petrosinelli said. “We’re

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Marketing Mortgage Business Government 377

Housing Wire

AUGUST 10, 2023

The increasing share of owner-occupant buyers is also evidence that extremely tight housing inventory is prompting more retail buyers to take on the additional challenges that come with buying a distressed property at auction. Department of Housing and Urban Development (HUD) in August 2022.

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Renovations Buyers Development Insurance 339

Empire Appraisal Group

MAY 25, 2023

has 6 of Top 10 Price-Increase Metros By Kerry Smith The FHFA House Price Index in 4Q 2022 found an 8.4% house prices rose 8.4% year-to-year – between the fourth quarter (4Q) of 2021 and 2022 – according to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI). house prices rose 8.4% from November.

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Housing Wire

MAY 22, 2024

From waiving inspections and financing contingencies, to free leasebacks and uncapped escalation clauses, real estate agents say that buyers in Rhode Island are willing to do almost anything to get into a house right now. “It It is really frenetic,” said Rachael Dotson , a Rhode Island-based agent for Residential Properties Ltd.

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Buyers Inventory Marketing Real Estate 276

Housing Wire

APRIL 14, 2022

Then, the mortgage industry showed why it is called a cyclical business: in the second half of 2021, the Federal Reserve signaled an increase in interest rates and an easing of the purchase of mortgage-backed securities, choking the refi market. Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said.

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Mortgage Marketing Retail Lending 519

Empire Appraisal Group

FEBRUARY 10, 2022

In the current housing market, owning a home is already difficult, especially for first-time homebuyers. of Black applicants were denied a mortgage in 2020, the highest among races and much higher than the 10.7% Of all Fla. mortgage rejections in 2020, 21.8% were Black, second only to American Indian/Alaska Native.

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Buyers Mortgage Housing Market Real Estate 78

Empire Appraisal Group

FEBRUARY 25, 2021

Pandemic worries, fear of a competitive market and ultra-low loan rates convinced many to hunker down. NEW YORK – Housing market inventory remains tight as homeowners hold onto their homes longer. Still, even with the pandemic, home sales soared in 2020, reaching their highest level in 14 years. About 1 in 4 U.S.

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Realtors Inventory Real Estate Sellers 60

Lamacchia Realty

OCTOBER 25, 2023

PRICE ADJUSTMENTS AND THE 2023 MARKET In March 2022, it was clear that the market was changing from a frenzied post-pandemic scene to one where it was assumed that rising mortgage rates would slow it down and help inventory finally rise back up. The first quarter of 2023 had the lowest number of homes listed in recorded history.

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Bracketing Marketing Sellers Buyers 59

Housing Wire

FEBRUARY 24, 2024

As someone who doesn’t believe the Federal Reserve has pivoted and that the Fed enacted a COVID-19 housing policy to keep existing home sales depressed, It’s not shocking to me that rates are still this high, even though we had lower rates with a higher growth rate of inflation data. That hasn’t happened.

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