Housing Wire

JUNE 5, 2023

Tightening credit availability, elevated rates, inventory shortages and strengthening home prices are adding to affordability challenges, the report notes. One key contributor to the affordability challenges is dwindling inventory nationwide. Since the start of 2023, inventory has deteriorated in 95% of major markets, the report notes.

Inventory 397

Inventory Buyers Housing Market Mortgage 397

Housing Wire

MAY 21, 2024

The United States Department of Veterans Affairs will soon release a circular that “bridges the gap” on an agency law that prohibits a VA buyer from paying their real estate agent compensation, a VA official announced on Tuesday. NAR has also advocated for the VA to change its rule around buyer broker compensation.

Buyers 275

Buyers Agents Real Estate Agent Real Estate 275

Housing Wire

MARCH 7, 2024

Home sellers looking to maximize their sale price may want to avoid the start of the busy spring buying season and list their properties closer to the midpoint of the year, according to a Zillow analysis released Thursday. Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality.

Sellers 421

Sellers Buyers Real Estate Inventory 421

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

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 394

Inventory Marketing Business Buyers 394

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

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

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

NOVEMBER 13, 2023

Homebuyers’ median household income increased by $19,000 this year from 2022, reaching $107,000, according to the National Association of Realtors ’ 2023 Profile of Homebuyers and Sellers. The report is an annual survey of homebuyers and sellers who closed transactions between July 2022 and June 2023.

Real Estate Agent 409

Real Estate Agent Real Estate Agents Sellers 409

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%. That’s part of the reason so many sellers remain on the sidelines.”

Real Estate Agent 473

Real Estate Agent Sellers Inventory Mortgage 473

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. In March of 2022, sellers received an average of 5.5

Realtors 432

Realtors Buyers Inventory Sellers 432

Housing Wire

APRIL 19, 2023

But the landscape is changing, and ADU buyers (and ADU builders and makers) are adapting to it. The interest in the smaller structures that were hot sellers during the pandemic has ceded ground to a surge in inquiries about ADUs with bathrooms, kitchenettes and the full suite of HVAC, plumbing, and electrical service.

Buyers 383

Buyers Real Estate Construction Finance 383

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

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

MAY 14, 2024

In the scenario where more inventory comes into the market and rates come down, we are well positioned to capture upside to last year’s performance,” Nolan added. In addition, we are our first line of defense in helping protect buyers and sellers from real estate and wire fraud.

Insurance 449

Insurance Real Estate Sellers Housing Market 449

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 431

Clients Real Estate Inspection Buyers 431

Housing Wire

OCTOBER 26, 2023

He testified that, in most cases, homebuyers would be unable to include buyer agent commission costs into their financing. “My concern is buyers who are cash-constrained,” Stevens said. ” But buyers are not the only ones who benefit from the current system, according to Stevens. .”

Buyers 420

Buyers Sellers Agents Law 420

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 430

Inventory Housing Market Realtors Buyers 430

Housing Wire

NOVEMBER 4, 2022

The share of Black and Asian first-time buyers is down from 6% in 2021, while the share of white first-time buyers is up from 82% and Hispanic homebuyers up from 7%. Conversely, White and Hispanic Americans experienced gains in buyer shares. NAR found the age of repeat buyers increased to 59 years from 56 years last year.

Buyers 397

Buyers Sellers Real Estate Agent Real Estate 397

Housing Wire

SEPTEMBER 13, 2022

The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. Typically we have a natural set of new listings each year; inventory rises in the spring and summer and then falls in the fall and winter.

Mortgage 520

Mortgage Inventory New Listings Sellers 520

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 449

Brokerage Realty Real Estate Inventory 449

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 449

Buyers Inventory Realtors Mortgage 449

Housing Wire

APRIL 19, 2024

This spring represents a window of opportunity for buyers and sellers who want to enter the market.” year over year, and the core counties of the Pittsburgh and Philadelphia metro areas were the only places where inventory rose. Data released Thursday by the National Association of Realtors (NAR) revealed a 4.3% decline in U.S.

Realtors 394

Realtors Inventory Real Estate Sellers 394

Housing Wire

MARCH 6, 2024

Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates. percentage points—sellers take notice. Facing these realities, many would-be sellers decide to stay put. No wonder, then, that many sellers decided to pull their listings. They notice their loss of purchasing power.

Mortgage 441

Mortgage Sellers New Listings Buyers 441

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

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 456

Finance Buyers Mortgage Inventory 456

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

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. Slower housing market With mortgage rates remaining elevated, many sellers feel locked in by their current low mortgage rate.

Mortgage 384

Mortgage Inventory Housing Market Buyers 384

Housing Wire

JULY 20, 2023

With record-low inventory nationwide, real estate agents seem to be hearing the same thing day in and day out: “I’d list my home, but where would I move?” For most agents, that’s the end of the conversation, ending the possibility of taking a new listing as well as facilitating the buyer side. Nationwide, inventory is at all-time lows.

Sellers 284

Sellers Clients Inventory Agents 284

Housing Wire

JANUARY 11, 2024

Even this slight uptick in demand, combined with inventory that remains tight, continues to cause prices to rise faster than incomes, meaning affordability remains a major headwind for buyers. Economists hope that declining rates will spur more sellers to list their homes.

Mortgage 431

Mortgage Sellers Inventory Buyers 431

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 16, 2023

It’s true that first-time buyers make up a larger piece of a smaller pie, as housing inventory shrinks. However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%. It never will be. I’ll explain later.)

Agents 410

Agents Buyers Sellers Inventory 410

Housing Wire

SEPTEMBER 28, 2023

However, unlike the turn of the millennium, house prices today are rising alongside mortgage rates, primarily due to low inventory. These headwinds are causing both buyers and sellers to hold out for better circumstances.” Other indices showed significantly higher mortgage rates this week.

Mortgage 466

Mortgage Inventory Sellers Investors 466

Housing Wire

FEBRUARY 4, 2021

There’s no doubt we’re in a seller’s housing market. With inventory at record lows, demand surging and prices on the rise, buying — even just finding — a home in today’s market is quite the challenge. Not only can it give you a good price range to work with, but it can also make sellers more likely to choose your offer.

Housing Market 546

Housing Market Marketing Real Estate Agent Sellers 546

Housing Wire

SEPTEMBER 13, 2023

It allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate. Moreover, many buyers are waiting on the sidelines, paralyzed by low housing inventory and high rates.

Mortgage 431

Mortgage Government Advertising Buyers 431

Housing Wire

JUNE 4, 2021

The winning buyer also waived appraisal and financing contingencies and dropped off cupcakes that matched the interior colors of the house, which was a nice touch because the seller is an artist and the home is unique and colorful.” . . “We received about a dozen offers, which is actually a low number by today’s standards.

Marketing 496

Marketing Sellers Finance Loan Officers 496

Housing Wire

APRIL 7, 2023

Mortgage rates have been trending down as the market enters the traditional homebuying season, but economists, including Freddie Mac ‘s chief economist Sam Khater , note that buyers are facing a number of challenges, including a low inventory of homes for sale and affordability issues. million in 2023 from 5.1

Buyers 395

Buyers Housing Market Finance Mortgage 395