Housing Wire

SEPTEMBER 27, 2023

housing market is back on track , stronger than ever, with a total estimated value of $52 trillion, according to a new analysis by Orphe Divounguy, a senior economist at Zillow Group. housing market has surged by more than $2.6 After experiencing a temporary hiccup between July 2022 to January 2023, the U.S.

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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.

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Housing Wire

MAY 4, 2023

A paradoxical picture is emerging as the spring market is underway. On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. All major housing market metrics point to a restrained housing market. Buyer disappointment.

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Housing Wire

MAY 18, 2023

Just when I thought days on market were returning to normal, that number for existing homes fell back down to 22 days. If the days on the market are at a teenager level or even lower, it’s never a good sign for the housing market. This is why the days on the market are so low historically after 2020.

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Appraisal Buzz

APRIL 2, 2024

What’s more, to move to an equivalently priced home “across the street” in today’s market would result in a nearly 40% increase in P&I – roughly as much as the historical trade-up cost. This underscores how higher mortgage rates and rising home prices have negatively impacted affordability for millions of would-be home buyers.

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Housing Wire

DECEMBER 23, 2022

This article is part of our 2022-23 Housing Market Forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business.

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Housing Wire

APRIL 26, 2024

In Texas and Florida , however, key market signals show diverging trends. Major markets such as Tampa, Orlando and Dallas also posted supply growth of 20% to 30% during this period. “My Redfin reported that among the 10 U.S. Cape Coral, Florida, led the way in this category with supply growth of 51%.

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Housing Wire

MAY 23, 2023

While it’s not as clear how long-lasting the rebound will be, it does still provide some much-needed good news for the spring and summer housing market. Data from NAR also shows a home price correction in nearly one-third of the 221 markets it tracks in the first quarter of 2023. million in February and was at 4.3

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Sacramento Appraisal Blog

MAY 2, 2023

Sellers have been sitting out of the housing market, and it’s made a massive difference in 2023 so far. UPCOMING (PUBLIC) SPEAKING GIGS: 5/4/23 Housing Market […] The post Sellers sitting out of the housing market & buyers getting concessions first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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Housing Wire

MARCH 18, 2022

To get the housing market to be sane and normal again, we need inventory to get back in a range between 1.52 – 1.93 million ; this is still historically low, but this gives the housing market a breather from the madness that we see today. This is the most prominent housing demographic patch ever recorded in history.

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Housing Wire

OCTOBER 20, 2022

Real estate investors purchasing distressed properties at foreclosure auction have been telegraphing a possible housing market slowdown for the last six months. A deeper dive into foreclosure buyer behavior shows which markets are most likely to see a home price correction in the next six months.

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Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. ” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!) But the housing market in the second half of 2022? over asking price. High octane stuff.

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Housing Wire

APRIL 23, 2023

Can we now say that the housing market ‘s spring selling season is finally underway? Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. months shows how far we are from 2008 housing economics.

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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. buyer hovers around $2,866, an all-time high according to Redfin. In Newark, buyers need $160,000.

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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. But somebody has to replace the Fed, and the Fed is not an economic buyer.

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Housing Wire

APRIL 30, 2023

The spring housing market music is playing, and purchase application data and active listing inventory rose together last week. The market is a bit calmer now than when Silicon Valley Bank failed , evident in how the stock and bond markets traded this last week.

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Appraisal Buzz

APRIL 11, 2024

Existing-home sales in this current market are mostly being driven by the “Five Ds” – death, divorce, diplomas, downsizing, and diapers – according to a report from First American. Today’s housing market faces a persistent trio of challenges,” says Odeta Kushi, deputy chief economist at First American, in a blog post.

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Housing Wire

APRIL 17, 2023

Local housing markets is a HousingWire magazine feature spotlighting housing trends across the country. Austin, Texas In 2021, Austin had one of the hottest housing markets in the country. 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 Wire

AUGUST 17, 2022

Articles about rates, housing inventory and inflation were among our most popular, including: Purchase mortgage rates fall same week as Fed rate hike New home sales make it clear, housing is in a recession The nation’s housing market is on a correction course.

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Housing Wire

JANUARY 9, 2023

The housing market saw inventory fall 4% last week from the week before. Traditionally, we do see housing inventory fall in the month of December, however, we clearly saw in the second half of 2022 that higher rates created more days on the market and inventory was lingering longer. That’s a big one-week change.

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Housing Wire

NOVEMBER 9, 2020

Though prospective buyers revealed slight wariness in September, Fannie Mae reported buyer morale gained 6% in October, with 60% of respondents saying it is a good time to buy a home while those who believe it is a bad time fell to 35%. Compared to this time last year, the HPSI is still down 7.1 increase the same time next year.

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Housing Wire

MARCH 13, 2023

Local housing markets is a HousingWire magazine feature spotlighting housing trends across the country. It is still kind of a weird market, but it is going back to a little bit more normal.” Given the current market, my business is at least about 60% renters and the other 30% to 40% is buyers and sellers,” Tsai said.

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Housing Wire

JANUARY 16, 2023

The weekly data shows some good news for the housing market ! With mortgage rates also falling, I am hopeful that more people will list their homes and buy another, so we can get back to a more functional housing market. This is good news for the housing market. NAR total inventory data is currently at 1.14

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Housing Wire

JANUARY 2, 2024

The “ silver tsunami ” — a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging — could have more of an impact on the housing market this year, according to analyst Meredith Whitney in a conversation with Yahoo Finance. “[T]he And people over 50 are 74% of total U.S. homeowners.

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Housing Wire

MAY 19, 2022

million , with double-digit home-price growth driving a housing market that is still savagely unhealthy. This is something that I said would change the tone of housing, and we are seeing that result this year as sales decline and inventory picks up. We are not taking the unhealthy housing market theme off this marketplace.

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Housing Wire

MARCH 18, 2021

The progression of homebuying over the past year has seen prospective buyers adjusting their preferred destination plans again, and again, and again. For a time, Colorado Springs became the de facto destination for buyers priced out of living in Denver. How borrower education can make housing more attainable.

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Housing Wire

DECEMBER 28, 2023

Affordability has been a chief topic of concern in the housing industry for the past several years, and the lack of affordable options in the state of Colorado is pushing that state’s school districts into action. Rents also remain challenging according to data the Post cites from Zillow.

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Housing Wire

FEBRUARY 27, 2023

We created the weekly Housing Market Tracker because housing data has been so wild since 2020. The housing market madness persisted last week as inventory fell and higher mortgage rates took a bigger bite out of purchase application data. A traditional seller is a conventional buyer most of the time.

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Housing Wire

JULY 2, 2023

We have often discussed that the housing market dynamics changed starting Nov. The other big story with housing inventory is that new listing data has been trending negative year over year since the end of June 2022. Since May 15, that trend has continued to the point that inventory in America is now negative year over year.

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Housing Wire

JULY 29, 2021

The following Q&A comes from the HW+ exclusive Slack channel, where HousingWire’s Lead Analyst Logan Mohtashami answered questions on what to make of the latest housing data, his forecast for the rest of this year, and whether or not the housing market is returning to normal. This was my big fear. Become a member today.

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Housing Wire

JANUARY 25, 2023

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. economy has remained resilient, backed by a very strong labor market, sky-high job openings and low unemployment. in September 2022. The overall U.S.

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Housing Wire

MAY 7, 2023

Even though the labor market is currently showing signs of getting softer , there is no job-loss recession yet. As you can see in the chart below, there is a big difference between the current housing market and those looking for a repeat of 2008. Mortgage rates in a regular market should be 5.25% today but are at 6.5%.

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Housing Wire

APRIL 7, 2021

And now, with the COVID-19 vaccine circulating and the economy slowly regaining strength, Zillow researchers say millions of additional households could enter the housing market in 2021. Specifically, housing markets like Portland, Maine , Bay City, Mich. markets; by December 2020, prices were already up 23.6%

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Housing Wire

DECEMBER 7, 2022

Now, with five weeks of data in front of us, we can say they have stabilized the market. million, the equilibrium balance between a buyer and seller marketplace that has been here for four decades. Also, I believed the risk to the housing market was if home prices grew more than 23% over the five years of 2020-2024.

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Housing Wire

MARCH 30, 2023

But while rates have dropped, the housing market has continued to be challenged by low inventory levels. “The 10-year yield has been stuck in a range for 2023, and as the crisis slowed down in terms of headlines, the bond market channel stayed in line,” Logan Mohtashami, lead analyst at HousingWire, said.

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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. According to Redfin’s analysis, Austin, Texas has experienced the most rapidly cooling housing market in the nation over the last year.

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Appraisal Buzz

OCTOBER 13, 2022

The share of first-time homebuyers rose in August, posting a strong year-over-year gain that brought market share up to pre-pandemic levels. The post First-Time Buyers Giving Housing Market a Boost appeared first on Appraisal Buzz.

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