Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. of homes that went under contract that month, according to a new report from Redfin. A lot of sellers are also willing to let buyers slip away because they don’t want to concede to repair requests,” Morre said.

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Housing Wire

APRIL 6, 2022

Additionally, home price appreciation and insufficient for-sale inventory are holding back purchase activity. . The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $647,200) increased to 4.90% from 4.80%. Meanwhile, the seasonally adjusted purchase index decreased 3.4%

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Housing Wire

MARCH 26, 2023

These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. Active inventory fell 1,109, and new listing data made a lovely comeback week to week but was still noticeably down year over year. In a regular market, they would be closer to 5.25%.

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Housing Wire

FEBRUARY 29, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. Meanwhile, new home sales , which are also a measure of contract signings, reached a seasonally adjusted annual rate of 661,000 in January, up 1.5% Overall active inventory improved 7.9% from December’s annualized rate.

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Housing Wire

AUGUST 30, 2023

An index of 100 is equal to the level of contract activity in 2001. “The small gain in contract signings shows the potential for further increases in light of the fact that many people have lost out on multiple home buying offers,” said NAR Chief Economist Lawrence Yun.

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Housing Wire

APRIL 22, 2021

“I’m on my way with a client to show them a house that’s literally just gotten on the market, and by the time we get there, it’s already under contract with someone else,” she said. There’s less than 30 days worth of inventory for homes under $300,000 right now.” “It’s just insane.

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Buyers Inventory Renovations Realty 432

Housing Wire

MAY 28, 2021

Diving deeper, for the two week period ending May 9, 2021, 57% of homes that went under contract had an accepted offer within the first two weeks on the market. The severe lack of inventory in today’s housing market has been a source of stress for home buyers and real estate agents alike. from a year ago.

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Buyers Real Estate Agent Real Estate Inventory 421

Housing Wire

SEPTEMBER 7, 2023

But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. You’ve got current economic conditions that are not opportunistic for a homebuyer right now, inflation is still out there and it’s all constraining buyers’ ability to spend. “You’ve

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Agents Buyers Loan Officers Real Estate 397

Housing Wire

JANUARY 26, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. The Northeast was the only region to see a decline in contract signings, with a drop of 3% month over month and 3.9%

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Contracts Housing Market Construction Inventory 458

Housing Wire

NOVEMBER 21, 2023

Homes typically go under contract a month or two before the closing, which means the October data largely reflects purchase decisions made in August and September. On the bright side, housing inventory rose 1.8% lower than October 2022 when inventory was at 1.22 Meanwhile, unsold inventory sat at a 3.6-month All four U.S.

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Inventory Realtors New Listings Contracts 410

Housing Wire

SEPTEMBER 28, 2023

An index of 100 is equal to the level of contract activity in 2001. Pending home sales, like new home sales, are based on contract signings. Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers,” Lawrence Yun, NAR chief economist said.

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Housing Wire

JUNE 29, 2023

An index of 100 is equal to the level of contract activity in 2001. Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing,” Lawrence Yun , the chief economist of NAR, said in a statement. The NAR’s Pending Home Sales Index fell to a reading of 76.5

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Contracts Inventory Housing Market Realtors 370

Housing Wire

OCTOBER 28, 2021

An index level of 100 is equal to the level of contract activity in 2001. Contract transactions slowed a bit in September and are showing signs of a calmer home price trend, as the market is running comfortably ahead of pre-pandemic activity,” Lawrence Yun, NAR’s chief economist, said in a statement. in 2022.

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Housing Wire

SEPTEMBER 20, 2023

Home prices in many markets have been supported by low inventory and resilient housing demand for available homes,” Kan added. As homebuyers continue to face higher rates and limited for-sale inventory, purchase conditions are becoming more challenging for buyers. The refinance share of mortgage activity increased to 31.6%

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Housing Wire

MAY 4, 2023

On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. On the other hand, inventory is still low, and homes are still selling fast, often with multiple offers. Sales and new pending contracts are below pre-pandemic levels. Buyer disappointment.

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Housing Market Marketing Inventory Buyers 421

Housing Wire

DECEMBER 16, 2022

The last year has been a completely split housing market — one that started with the lowest inventory NAR has recorded dating back to 1999 and one with low mortgage rates. The market has now faced a contraction in existing-homes sales for nine consecutive months, while home prices and rates rise.

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Housing Wire

MARCH 24, 2021

Inadequate housing inventory continues to put upward pressure on home prices,” Kan said. The dip in applications is linked to broader trends in the housing market: more than a year of low inventory is forcing interested buyers to snag whatever they can get their hands on, even if it’s overpriced.

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Mortgage Contracts Inventory Buyers 479

Housing Wire

DECEMBER 23, 2022

New home sales data last month was much stronger than had been anticipated; the market had expected a contraction of 4.7% Since July, about 10,000 contracts have been canceled each month, according to data from John Burns Consulting. Census Bureau and the Department of Housing and Urban Development (HUD) on Friday. in November.

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Contracts Inventory Housing Market Development 384

Appraisal Buzz

MARCH 28, 2024

Month-over-month, contract signings climbed in the Midwest and South but sank in the Northeast and West. Ongoing job gains are clearly increasing demand along with more inventory.” Home prices rising faster than income growth is not healthy and adds challenges for first-time buyers.” Pending home sales increased 1.6%

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Inventory Housing Market Contracts Realtors 195

Housing Wire

DECEMBER 8, 2023

You know what you do, but how do you explain it in such a way that a buyer understands your value, the required agency forms and everything involved to make it to the closing table? Ultimately, every homebuyer prospect, every contract and every negotiation is different, but your value should be consistent for all situations and clients.

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Clients Real Estate Inspection Buyers 432

Housing Wire

SEPTEMBER 14, 2023

However, some economists also say that the economy is veering toward a contraction, with 10-year yields holding below 3-month yields, Bloomberg reported. As many existing homeowners are staying put in today’s elevated mortgage rates environment, the inventory problem persists and puts first-time homebuyers in a difficult position.

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Mortgage Inventory Buyers Investors 432

Housing Wire

SEPTEMBER 29, 2021

Homebuyer contract signings in the U.S. Increased inventory of homes for sale, near historic low mortgage rates and favorable demographics means more housing demand, ” Odeta Kushi, the First American deputy chief economist said in a statement. rose 8% month-over-month from July to August, though the figure was still 8.3%

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Contracts Inventory Housing Market Marketing 421

Housing Wire

JULY 14, 2021

“We continue to see ebbs and flows as housing demand remains strong, but for-sale inventory remains low,” he said. Overall inventory is still low, of course, but a cooling of the market could lead to more would-be buyers and an increase in mortgage applications soon, experts said. from 61.6% the previous week.

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Mortgage Contracts Inventory Investors 515

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. Many of his buyers are still waiting for rates to come down before seeking preapproval for a mortgage. economy remains hot.

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Loan Officers Mortgage Buyers Inventory 421

Housing Wire

MARCH 24, 2023

An appraisal gap is the difference between what a buyer agreed to pay for a home in a purchase contract and what an appraiser concludes as the fair market value of the property. Buying a home is not for the faint of heart, especially when inventory is so low and affordability is a challenge.

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Appraisal Contracts Tools Valuation 450

Housing Wire

APRIL 17, 2023

In early 2023, however, as inventory in Austin has become more and more constrained, buyers have become accustomed to the higher mortgage rates and demand has ticked up. “It It is keeping the pressure on buyers to shop wisely,” Kent Redding, a local Berkshire Hathaway Home Services agent, said.

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Housing Market Marketing Inventory Buyers 397

Housing Wire

SEPTEMBER 6, 2023

Both purchase and refinance applications fell, with the purchase index hitting a 28-year low, as prospective buyers remain on the sidelines due to low housing inventory and elevated mortgage rates,” said Joel Kan, MBA’s vice president and deputy chief economist. For the week that ended Sept. 1, mortgage applications dropped 2.9%

Mortgage 421

Mortgage Contracts Inventory Buyers 421

Housing Wire

DECEMBER 20, 2023

Real estate agents and brokers , are you relying solely on that buyer drip you set up for your motivated and qualified clients? Today we’ll show you how to deploy 6 creative ways to get more from your searches so you can get those buyers in contract faster. Are your buyers being more proactive than you are?

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Real Estate Agent Buyers Real Estate Clients 421

Housing Wire

MARCH 29, 2023

Month-over-month, contract signings increased in three U.S. Overall, contract signings were down 21.1% Even though rates ticked up in February, some buyers took the plunge anyway, anxious that mortgage rates would be moving even higher this spring.” In-contract deals rose 0.7% from February 2022. decline from a year ago.

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Contracts Realtors Home Value Housing Market 306

Housing Wire

MAY 10, 2022

These reports highlight the difference home buyers and potential home buyers have when embarking on the buying process. The report used real time listing data to show the limited housing inventory and the repercussions to home buyers. The second section, shows the experiences of successful home buyers by race.

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Housing Market Realtors Buyers Inventory 450

Housing Wire

FEBRUARY 21, 2023

January sales reflect purchase contracts made in November or December, and there is evidence that in many markets, the housing market has bottomed out and buyers are beginning to return to the market.” Inventory remains low, but buyers are beginning to have better negotiating power,” Yun added. month over month and 15.3%

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Inventory Buyers Housing Market Contracts 370

Housing Wire

APRIL 7, 2021

As has been the case for several weeks now, rising mortgage rates and low inventory are contributing to the slowdown in mortgage applications, said Joel Kan, MBA’s associate vice president of economic and industry forecasting. Refinance mortgage applications declined for the fifth straight week. The 30-year fixed rate moved up to 3.6%

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Mortgage Contracts Inventory Buyers 370

Housing Wire

NOVEMBER 30, 2020

However, borrowers are still maintaining a strong pace, as contract signings are up 20.2% Realtors cited a combination of high demand and low inventory, which are making conditions more competitive and exerting upward pressure on prices. pending home sales fell 1.1% compared to a year ago. Presented by: Fannie Mae.

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Realtors Inventory Contracts Development 534

Hank Miller Team

JANUARY 23, 2023

That message however, is often taken at face value and some home buyers expect a bargain basement spring. Best advice as to what home buyers should expect in the spring of 2023.understand Home buyers had a rough couple of years. Overnight and over the months, buyers fell out, unable to qualify as rates rose.

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Buyers Inventory Agents Contracts 98

Housing Wire

SEPTEMBER 7, 2023

However, high home prices and growing affordability challenges are the two factors weighing on prospective home buyers, said Sturtevant. She expects a market contraction this fall in the housing sector.

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Housing Market Mortgage Marketing Contracts 450

Housing Wire

OCTOBER 24, 2022

It’s now October, we’ve had the biggest spike in mortgage rates we’ve seen in decades, and all the signs of a slowdown are here: Inventory is rising. The big question is: how long will the market contraction last and when should we expect things to heat back up? Home buyers got spooked when mortgage rates passed 5.5%.

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Real Estate Marketing Inventory Sellers 324

Housing Wire

MARCH 27, 2023

Housing markets in tech hubs were in high demand during the pandemic, with potential buyers facing fierce competition on homes in cities like San Jose and Austin. In addition, just 16% of the homes in Austin went under contract within two weeks of hitting the market. according to Redfin’s data. Pending sales also dropped by 40%.

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Housing Market Marketing Contracts Buyers 384