Housing Wire

JANUARY 31, 2023

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. It’s also what keeps Andrew Marquis, regional vice president at CrossCountry Mortgage and Scotsman Guide ’s seventh top LO, up at night, especially as he sees more buyers entering the market.

Inventory 397

Inventory Marketing Business Buyers 397

Housing Wire

NOVEMBER 30, 2023

Homebuyer traffic will increase in 2024, fueled by lower mortgage rates and more existing-home inventory. After a very difficult market for buyers who have had to contend with an atypical housing market in 2023, home shoppers will find more listings to choose from in 2024,” Lisa Sturtevant, Bright MLS chief economist, said in a statement.

Buyers 473

Buyers Housing Market Sellers Inventory 473

Housing Wire

OCTOBER 8, 2021

Renovated Inventory to the Rescue. times the median income in the surrounding Census tract, according to the analysis, which incorporated tract-level median income data from the Federal Housing Finance Agency (FHFA). Top Markets for Renovated Inventory. On average, the price of the renovated properties was 3.5 Among 75 U.S.

Renovations 543

Renovations Inventory Marketing Property Taxes 543

Housing Wire

NOVEMBER 28, 2023

year over year in Q3, according to the Federal Housing Finance Agency (FHFA) House Price Index. Home-price growth expected to slow in Q4 High mortgage rates combined with a typical seasonal slowdown will limit the number of buyers on the market in Q4, Bright MLS Chief Economist Lisa Sturtevant said in a statement. in September.

Inventory 473

Inventory New Listings Finance Buyers 473

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. In an interview today with Yahoo Finance , I discussed how home prices are still rising this year. All four U.S.

Inventory 491

Inventory Housing Market New Listings Buyers 491

Housing Wire

JULY 16, 2021

Cash buyers are pouring into the housing market this year, and they’re picking off more than half of available inventory in certain areas in Florida and New York. “I just sold a $700,000 home to a cash buyer last week. That’s often good news for financed buyers because it means fewer bids to compete with.”

Buyers 545

Buyers Real Estate Agent Real Estate Housing Market 545

Housing Wire

APRIL 5, 2024

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. Millennials comprised 75% of this demographic, with older millennials and Generation X (ages 44 to 58) accounting for 44% and 24% of first-time buyers.

Housing Market 458

Housing Market Marketing Training New Listings 458

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

Buyers 397

Buyers Agents Loan Officers Real Estate 397

Appraisal Buzz

JULY 6, 2021

In an article posted on UI’s Urban Wire blog, Janneke Ratcliffe and Laurie Goodman write that, while soaring home prices and historically low inventories of available homes have been good for sellers, many of them are unwilling to accept offers backed by FHA or VA financing.

Sellers 370

Sellers Buyers Government Inventory 370

Housing Wire

SEPTEMBER 27, 2023

A steady flow of new homes have hit the market this spring and summer, as homebuilders worked diligently to remedy the housing inventory shortage. At the same time, builders also adapted to the needs of today’s home buyers who are navigating higher mortgage rates.

Housing Market 515

Housing Market Marketing Inventory Construction 515

Housing Wire

APRIL 2, 2024

Through NAF Cash, the lender purchases the buyer’s chosen home upfront with cash while the buyer can rent the new home while working on selling the old home or securing financing on the new one. NAF, the 31st largest mortgage lender in America in 2023, according to Inside Mortgage Finance, has been in growth mode.

Loan Officers 421

Loan Officers Retail Finance Buyers 421

Appraisal Buzz

APRIL 23, 2024

With many homeowners “rate-locked” into their existing homes, new homes are the only bright spot in a market suffering from low inventory. Rates moving above 7 percent, however, will move some home buyers to the sidelines as the spring progresses.”

Mortgage 369

Mortgage Inventory Development Finance 369

Housing Wire

APRIL 19, 2023

But the landscape is changing, and ADU buyers (and ADU builders and makers) are adapting to it. The often hyperlocal nature of ADU permitting can act as a deterrent to potential ADU buyers, who lack the expertise (or the time and energy) to navigate the regulatory maze. But the pandemic is now over and interest rates are way up.

Buyers 384

Buyers Real Estate Construction Finance 384

Housing Wire

JULY 28, 2023

The cost of financing a median-priced U.S. Buyers searching for starter homes in today’s market are on a wild goose chase because in many parts of the country, there’s no such thing as a starter home anymore,” said Redfin Senior Economist Sheharyar Bokhari. Austin buyers must earn $92,000, down 3.3% Meanwhile, average U.S.

Buyers 370

Buyers Housing Market Investors Real Estate 370

Housing Wire

SEPTEMBER 30, 2022

Effective natural language processing technologies extract deeper meaning from unstructured data to make a difference in the lives of countless would-be homebuyers who are credit invisible or have not had the ability to obtain access to affordable housing finance. There is more inventory relative to demand, and deals can be found.

Buyers 458

Buyers Mortgage Loan Officers Retail 458

Housing Wire

MAY 17, 2023

Catching the headwinds Brandon Lwowski , director of research at HouseCanary , a proptech firm that provides institutional investors, lenders and other clients with residential real estate analysis, said the 2021-2022 time frame was an “optimal market for flippers” because of strong home-price appreciation, tight home inventory and “huge demand.”

Finance 370

Finance Marketing Renovations Investors 370

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? How you conduct yourself and how you present to each buyer prospect should not vary by situation. Top 10 ways to get homebuyers to work with you 1.

Clients 432

Clients Real Estate Inspection Buyers 432

Housing Wire

MARCH 12, 2024

Despite elevated interest rates and tight inventory, the national Hispanic homeownership rate reached 49.5% While rising interest rates affected all homebuyers, this impact was more pronounced among Hispanic households, many of whom are first-time buyers with lower median incomes and who live in higher priced markets,” according to NAHREP.

Real Estate Agent 458

Real Estate Agent Real Estate Buyers Realty 458

Housing Wire

MARCH 27, 2024

Those advantages, coupled with cheap land, made the city a favorite for homebuilders like DR Horton and Lennar that brought plenty of new inventory to market. In this environment of high rates and tight inventory, brokerages have had to become sharp elbowed. Listings jumped at both the state and city levels in 2021 and 2022.

Brokerage 450

Brokerage Realty Real Estate Inventory 450

Housing Wire

APRIL 14, 2023

Since October of 2022, the share of buyers who are purchasing their home without a mortgage has been more than one quarter of the market. The share is collected monthly in the Realtors Confidence Index and includes buyers who purchased primary homes, vacation homes and investors. One such measure is who is entering the market.

Realtors 432

Realtors Buyers Inventory Sellers 432

Housing Wire

JANUARY 5, 2024

Few things affect the real estate market more than the rise and fall of interest rates , which has a ripple effect that directly influences everything from buyer behavior to market trends. How interest rates impact your clients Let’s look at how interest rates can impact buyers, sellers or homeowners looking to refinance.

Real Estate 441

Real Estate Agents Marketing Sellers 441

Housing Wire

DECEMBER 1, 2023

The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan. Those loan types would require a larger down payment of at least 10% of the home’s value, or $80,000, which would stretch his budget too thin.

Finance 458

Finance Buyers Mortgage Inventory 458

Housing Wire

MARCH 22, 2021

And waiving the financing contingency is the second-most effective bidding-war strategy, Redfin officials said – improving homebuyers’ odds of winning by 66%. “All-cash buyers used to be able to go in a little below list price, but now I’m seeing a lot of cash offers that are at list price or higher. .

Inspection 545

Inspection Inventory Buyers Sellers 545

Housing Wire

NOVEMBER 13, 2023

“In a still-competitive housing market, more well-off home buyers were able to have their bids accepted by offering larger down payments and even by paying cash.” However, a significant majority of buyers (80%) financed their home purchase in 2023, up from 78% in 2022 but still down from 87% two years ago, according to the survey.

Real Estate Agent 410

Real Estate Agent Real Estate Agents Sellers 410

Housing Wire

FEBRUARY 20, 2024

“While the gains should be celebrated, the pathway into homeownership remains arduous for minority buyers.” But it fell slightly from 2021 (65.4%) due to higher mortgage rates and inventory constraints. Minority buyers, in particular, face difficulties in saving for a down payment, exacerbated by high rent prices and student loan debt.

Buyers 450

Buyers Inventory Realtors Mortgage 450

Housing Wire

JANUARY 12, 2024

To conduct this study , Redfin analyzed data from the Federal Housing Finance Agency ’s National Mortgage Database as of the third quarter of 2023. For repeat buyers and first-time buyers who entered the market in 2022, the average mortgage rate was above 6%. in mid-2022. In the third quarter of 2023, 88.5%

Real Estate Agent 473

Real Estate Agent Sellers Inventory Mortgage 473

Housing Wire

DECEMBER 20, 2023

“The latest weakness in existing home sales still reflects the buyer bidding process in most of October when mortgage rates were at a two-decade high before the actual closings in November,” NAR Chief Economist Lawrence Yun said in a statement. “A Housing inventory fell 1.7% Housing inventory fell 1.7% from October, with 1.13

Inventory 432

Inventory Housing Market Realtors Buyers 432

Housing Wire

FEBRUARY 27, 2024

“These areas have seen substantial price growth over the last year as buyers sought affordability near strong economic centers,” Realtor.com senior economic research analyst Hannah Jones said in a statement. “Relatively sustained demand in these markets has taxed available inventory and driven home prices and rents higher.”

Inventory 432

Inventory Housing Market Buyers Marketing 432

Eppraisal

AUGUST 25, 2023

In the ever-fluctuating world of real estate, buyers often face a multitude of challenges. However, two significant hurdles that are currently prevalent are the combination of low housing inventory and high-interest rates. Get Your Finances in Order Before diving into the house hunt, ensure your financial foundation is solid.

Inventory 69

Inventory Real Estate Buyers Renovations 69

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. Then, we have all the traditional financing options, including jumbo.”

Mortgage 473

Mortgage Real Estate Agent Renovations Finance 473

Housing Wire

JULY 26, 2023

It’s a unique housing market, unparalleled in recent years, for the active inventory to be so heavily skewed towards new construction. As a result, it is forcing buyers to make trade-offs, in terms of both characteristics of the home as well as the home’s location.” At the current sales pace this inventory represents 7.4

Housing Market 370

Housing Market Marketing Construction Inventory 370

Housing Wire

NOVEMBER 21, 2023

Prospective home buyers experienced another difficult month due to the persistent lack of housing inventory and the highest mortgage rates in a generation,” NAR Chief Economist Lawrence Yun said in a statement. On the bright side, housing inventory rose 1.8% lower than October 2022 when inventory was at 1.22 All four U.S.

Inventory 410

Inventory Realtors New Listings Contracts 410

Housing Wire

JULY 18, 2023

The NAHB/HMI report is based on a monthly survey of NAHB members, in which homebuilders are asked to rate both current market conditions for the sale of new homes and expected conditions for the next six months, as well as traffic of prospective buyers of new homes.

Inventory 370

Inventory Construction Buyers Housing Market 370

Housing Wire

MAY 4, 2023

The purchase market is locked up with a lack of inventory thanks to elevated rates and homeowners already having secured low mortgage rates during the pandemic years. Due to limited options available on the market, buyers are increasingly turning to newly constructed homes, Xu added.

Mortgage 384

Mortgage Inventory Housing Market Buyers 384

Housing Wire

AUGUST 6, 2020

Low mortgage rates help to support real estate demand by making it possible for more buyers to qualify for loans. This is because cheaper financing lowers monthly mortgage bills, which are compared to income to qualify applicants. Low rates also support price growth because buyers typically qualify for bigger mortgages.

Mortgage 512

Mortgage Inventory Buyers Housing Market 512

Housing Wire

DECEMBER 8, 2023

High mortgage rates, a lack of inventory and elevated home prices have turned 2023 into the least affordable year for homebuyers on record. Elevated mortgage rates dampened homebuyer demand while a shortage of existing-home inventory kept prices elevated despite fewer buyers in the market. During the four weeks ending Nov.

Inventory 431

Inventory Buyers Mortgage Marketing 431

Housing Wire

JANUARY 4, 2024

While lower mortgage rates are welcome news, potential homebuyers are still dealing with the dual challenges of low inventory and high home prices that continue to rise,” he added. According to Bright MLS Chief Economist Lisa Sturtevant, the lack of inventory remains the main issue, keeping home prices elevated.

Mortgage 441

Mortgage Inventory Sellers Marketing 441