Cleveland Appraisal Blog

APRIL 26, 2023

With a shortage of housing inventory persisting, some are resorting to building their own home. If you decide to use a realtor it can make the experience much smoother, much easier and ultimately far better for you as a buyer. This frees up time for buyers to focus on other aspects of their lives. Hello friends!

Realtors 272

Realtors Buyers Real Estate Agent Appraisal 272

Housing Wire

OCTOBER 1, 2022

The monthly Realtors Confidence Index helps to dispel many of the myths and cut through the noise of what is currently happening in the market. The National Association of Realtors Research Group has produced the index since 2008, at a time of turmoil in the real estate market. All cash buyers now stand at 24%. Historically 2.5

Realtors 394

Realtors Housing Market Marketing Buyers 394

Housing Wire

JULY 6, 2023

It boils down to two factors, according to housing-industry experts: a lack of housing inventory , or supply; and high demand for that limited housing stock — which also is fueling a jump in new-home sales. In other words, if there were more inventory, we would have more sales happening.” through the first quarter of 2024.”

Inventory 464

Inventory Renovations Real Estate Government 464

Housing Wire

AUGUST 22, 2023

The housing market continues to cool amid high mortgage rates , low inventory and rising property insurance rates. The National Association of Realtors (NAR) suggested a 2.2% Elevated mortgage rates and low inventory As of August 17, mortgage rates surpassed 7% as U.S. million, according to its latest report.

Buyers 321

Buyers Inventory Realtors Housing Market 321

Housing Wire

NOVEMBER 18, 2022

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. NAR lists the current inventory at 1.22 million, with a peak in 2007 a tad over 4 million.

Inventory 473

Inventory Marketing Housing Market New Listings 473

Housing Wire

OCTOBER 8, 2021

from a year ago to $356,700, according to the National Association of Realtors. Renovated Inventory to the Rescue. The analysis also suggests that most distressed property buyers are performing extensive rehab before reselling, and that most renovated homes are being resold to owner-occupant buyers. Skyrocketing U.S.

Renovations 543

Renovations Inventory Marketing Property Taxes 543

Housing Wire

APRIL 25, 2024

in March compared to February despite rising mortgage rates , according to data released Thursday by the National Association of Realtors (NAR). Meaningful gains will only occur with declining mortgage rates and rising inventory.” Existing-home inventory in March improved 14.4% Pending home sales increased by 3.4%

Inventory 413

Inventory Buyers Realtors Investors 413

Housing Wire

SEPTEMBER 17, 2021

The bidding wars that put smiles on the faces of sellers and simultaneously drove buyers to rip their hair out weren’t as frequent in August, according to the latest report from brokerage Redfin. But buyers shouldn’t get too excited. But buyers shouldn’t get too excited. In August, 58.8% million and 1.92

Buyers 440

Buyers Inventory Real Estate Agent Agents 440

Housing Wire

SEPTEMBER 7, 2023

Attorneys, Realtors and clients are a big part of our repeat business.” But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents.

Buyers 392

Buyers Agents Loan Officers Real Estate 392

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 353

Inventory Marketing Business Buyers 353

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 414

Housing Market Marketing Training New Listings 414

Housing Wire

APRIL 30, 2024

For-sale inventory increased 14.8% Meanwhile, the National Association of Realtors reported that existing home sales increased by 9.5% from January to February as buyers had more inventory to choose from, despite high prices and mortgage rates.

Inventory 442

Inventory Realtors Buyers Marketing 442

Housing Wire

JULY 9, 2021

But even though home prices are at record highs , buyers are still in the market. A buyer in Austin, Texas paid $1 million over a home’s listing price. According to the founder of The Agency Texas, Thomas Brown , the buyer was bidding for a home against multiple offers. Low-inventory is partly to blame. Listing prices?

Buyers 450

Buyers Counter Offer Real Estate Agent Real Estate 450

Housing Wire

APRIL 19, 2024

from February to March, according to a report released Friday by the Pennsylvania Association of Realtors (PAR). This spring represents a window of opportunity for buyers and sellers who want to enter the market.” Data released Thursday by the National Association of Realtors (NAR) revealed a 4.3% decline in U.S.

Realtors 333

Realtors Inventory Real Estate Sellers 333

Housing Wire

APRIL 14, 2023

The monthly Realtors Confidence Index is an essential measure of what real estate professionals are seeing in their local markets and how the market is evolving on a monthly basis. The National Association of Realtors Research Group has produced the index since 2008, a time of turbulence in the real estate market.

Realtors 428

Realtors Buyers Inventory Sellers 428

Housing Wire

DECEMBER 20, 2023

million, according to the National Association of Realtors. 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. “The Housing inventory fell 1.7%

Inventory 403

Inventory Housing Market Realtors Buyers 403

Housing Wire

FEBRUARY 22, 2024

Existing-home sales picked up in January as buyers took advantage of the lowest mortgage rates seen in several months. from December to a seasonally adjusted annual rate of 4 million in January, according to a report from the National Association of Realtors (NAR). In fact, by the end of January, for-sale housing inventory was at 1.01

Inventory 424

Inventory Sellers Buyers Realtors 424

Housing Wire

FEBRUARY 20, 2024

According to a new report from the National Association of Realtors (NAR) titled “A Snapshot of Race and Home Buying in America,” Asian and Hispanic Americans achieved historic heights in homeownership rates in 2022 of 63.3% While the gains should be celebrated, the pathway into homeownership remains arduous for minority buyers.”

Buyers 418

Buyers Inventory Realtors Mortgage 418

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 housing affordability crisis has pushed potential buyers to the sidelines. offers, according NAR’s REALTORS® Confidence Index.

Buyers 478

Buyers Realtors Inventory Sellers 478

Housing Wire

FEBRUARY 29, 2024

month over month in January, according to the newest data from the National Association of Realtors (NAR). Overall active inventory improved 7.9% However, the timing and number of purchases will largely depend on the prevailing mortgage rates and inventory availability.” Pending home sales dropped 4.9% in December.

Contracts 407

Contracts Inventory Realtors New Listings 407

Housing Wire

SEPTEMBER 30, 2022

There is more inventory relative to demand, and deals can be found. It’s transitioning to a buyers’ market, as 20% of sellers had a price reduction in August 2022, compared with 11% a year ago,” said Rich Weidel, CEO at Princeton Mortgage. Not yet anyway. James Kleimann contributed to this report.

Buyers 458

Buyers Mortgage Loan Officers Retail 458

Housing Wire

NOVEMBER 21, 2023

million, according to the N ational Association of Realtors. 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%

Inventory 402

Inventory Realtors New Listings Contracts 402

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. Of course this isn’t the healthiest housing inventory story. from the previous year ($375,300). All four U.S.

Inventory 488

Inventory Housing Market New Listings Buyers 488

Housing Wire

NOVEMBER 30, 2023

in October on a month-over-month basis, according to data released Thursday by the National Association of Realtors (NAR). Existing-home sales and housing inventory will increase next year, and home prices will remain stable, said Lisa Sturtevant, the MLS’s chief economist. down from 72.6 in September.

Housing Market 472

Housing Market Inventory Realtors Construction 472

Appraisal Buzz

MARCH 21, 2024

compared with February 2023, according to the National Association of Realtors (NAR). Helping to boost existing-home sales in February was that inventory increased 1.07 Individual investors or second-home buyers, who make up many cash sales, purchased 21% of homes in February, up from 17% in January and 18% in February 2023.

Inventory 394

Inventory Realtors Investors Buyers 394

Housing Wire

JANUARY 20, 2023

million, according to a report from the National Association of Realtors (NAR) released Friday. December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates,” Lawrence Yun, NAR’s chief economist, said in a statement. from November to a pace of 4.02 A total of 5.03

Inventory 367

Inventory Housing Market Realtors Buyers 367

Housing Wire

OCTOBER 19, 2023

million, according to the National Association of Realtors. “As has been the case throughout this year, limited inventory and low housing affordability continue to hamper home sales,” NAR Chief Economist Lawrence Yun said in a statement. Existing home sales fell 2.0% million in September 2022. Looking at the four major U.S.

Inventory 388

Inventory Realtors Buyers Housing Market 388

Housing Wire

AUGUST 30, 2023

in July, according to data released Wednesday by the National Association of Realtors (NAR). “Jobs are being added and, thereby, enlarging the pool of prospective home buyers. However, rising mortgage rates and limited inventory have temporarily hindered the possibility of buying for many.”

Inventory 417

Inventory Contracts Buyers Realtors 417

Housing Wire

MAY 18, 2023

Existing home sales declined yet again in April, according to a report from the National Association of Realtors (NAR), released Thursday. The combination of job gains, limited inventory and fluctuating mortgage rates over the last several months have created an environment of push-pull housing demand.” After posting a surprise 14.5%

Inventory 392

Inventory Buyers Realtors Housing Market 392

Housing Wire

MAY 10, 2022

As the calendar has turned to May, and the Realtor Legislative Meetings have come to a close, it’s a good time to reflect on research that was released last month and throughout early 2022. These reports highlight the difference home buyers and potential home buyers have when embarking on the buying process.

Housing Market 434

Housing Market Realtors Buyers Inventory 434

Eyes on Housing

FEBRUARY 18, 2022

Despite record-low inventory and higher prices, existing home sales jumped in January as buyers expected further rate increases and locked in current low rates, according to the National Association of Realtors (NAR). However, investors with all-cash offers were squeezing out first-time and young homebuyers.

Inventory 167

Inventory Realtors Investors Buyers 167

Housing Wire

OCTOBER 22, 2020

million, the National Association of Realtors said in a report on Thursday. I would attribute this jump to record-low interest rates and an abundance of buyers in the marketplace, including buyers of vacation homes given the greater flexibility to work from home.”. At the end of September, housing inventory totaled 1.47

Inventory 530

Inventory Buyers Realtors Housing Market 530

Housing Wire

MAY 10, 2021

Low home prices, large lots, and an up-and-coming downtown area, said Toni Reinhart, a realtor for Iron Valley Real Estate in Harrisburg. And the conversations are different right now for buyers — you’re going to be competing for homes, and you have to bring your A-game and a really competitive offer.”

Buyers 228

Buyers Real Estate Agent Real Estate Inventory 228

Inman

MAY 10, 2023

A "drought" of new listings is driving up prices, reversing the sluggishness of late 2022 and forcing buyers to compete fiercely for homes, according to a new analysis from Zillow.

Buyers 141

Buyers Inventory New Listings Marketing 141

Housing Wire

SEPTEMBER 21, 2023

The housing market continues to cool amid high mortgage rates , affordability challenges and still-low inventory. million, according to a new report from the National Association of Realtors (NAR). “Fall could bring more declines in home prices as more buyers bow out.” In August, existing-home sales fell 0.7%

Inventory 422

Inventory Realtors Housing Market Mortgage 422

Inman

MAY 18, 2023

in April as inventory soared 7.2% above March, according to National Association of Realtors data released Thursday Economic headwinds and booming interest rates pushed sales down by 3.4%

Inventory 150

Inventory Realtors Buyers Marketing 150

Housing Wire

JANUARY 3, 2024

Real estate agents are optimistic about the housing market and working to implement buyer agency agreement as we head into 2024, according to the RealTrends Q1 2024 AgentPulse survey. Better buyer and seller presentations to break down payment to a more granular level,” was one agent’s response. Always will too,” one wrote.

Agents 372

Agents Realtors Clients Real Estate Agent 372