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Midwest housing markets good for first-time homebuyers: Zillow

Housing Wire

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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Top LO Ben Cohen thinks first time buyers will return to the housing market this year

Housing Wire

Going from a volatile rate environment in the latter half of 2022 to a market with lower, more stabilized rates, there’s optimism spreading across the industry that buyers will come back. Lower production volume means cutting staff and restructuring to better focus on the purchase market, Cohen said.

Buyers 369
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Stakes are high as first buyer broker commission lawsuit goes to trial today

Housing Wire

At the crux of the case is the allegation that commission rates are too high, it’s unfair that the seller pays the buyer’s agent’s commission, and that the National Association of Realtors’ (NAR) Code of Conduct and MLS Handbook lead to set pricing.

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Winners and losers of this volatile housing market

Housing Wire

Through numerous interviews with industry players, HousingWire assessed the rapidly changing housing market to determine who remains vulnerable to the higher-rate environment, and who’s primed to capitalize in the months ahead. Despite the negative effect on builders’ bottom line, such incentives still aren’t luring buyers.

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Buydowns become key for buyers to beat the market

Housing Wire

The seller, who struggled to find a buyer in a cooled down housing market, agreed to deposit a lump sum payment into an escrow account at closing – ultimately saving Davis $6,900 in monthly payments in the first two years. With the mortgage market rapidly shrinking – some experts believe it might contract to just $1.3

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Majority of recent homebuyers have regrets: survey

Housing Wire

We found that buyers stepping into the 2024 housing market have much to learn from previous shoppers,” the report stated. Even after navigating the climate of higher mortgage rates and a dearth of available listings, 82% of recent buyers had regrets about their purchase, Clever reported.

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Opinion: The ripple effect on the U.S. housing market from China’s real estate crisis

Housing Wire

The real estate market in China, both commercial and residential, have been unwinding over the last few years. Like a slow-motion train wreck at first, it is now definitively off the rails and heading over a cliff. some luxury residential markets that saw an influx of Chinese buyers could be particularly vulnerable.