Housing Wire

OCTOBER 26, 2023

Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” Lawrence Yun, NAR chief economist said in a statement. For those new construction units, the national median new home price is projected to drop by 5.9% Lastly, they predict that housing starts will drop by 10.4%

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Housing Wire

MARCH 29, 2023

Pending home sales rose for the third month in a row in February, but at 0.8%, the uptick over January was less than is typically seen in the run-up to the spring housing market. Month-over-month, contract signings increased in three U.S. Overall, contract signings were down 21.1% In-contract deals rose 0.7%

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Contracts Realtors Home Value Housing Market 306

Housing Wire

OCTOBER 12, 2023

What is happening in the housing market ? If mortgage rates pass 8%, housing market activity will see a contraction, Sturtevant said. “Overall, shelter costs were up 7.2% year over year in September,” Bright MLS Chief Economist Lisa Sturtevant said in a statement. Rents of primary residences were up 7.4%.”

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Government Housing Market Contracts Insurance 409

Housing Wire

FEBRUARY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. Bright MLS chief economist Lisa Sturtevant added: “The new pending sales data for January provides further evidence that the housing market may have bottomed out at the end of last year. Despite the strong monthly increase, pending home sales are down 24.1%

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Housing Wire

JUNE 23, 2021

If the fed were to tighten policy, Fannie Mae’s ESR Group expects this to drag on upcoming housing market growth and even stifle home sales, house prices, construction and mortgage originations. inflation jumped from 1.68% in February all the way up above 5% by June, per last week’s PMMS report from Freddie Mac.

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Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The recovery has not taken place, but the housing recession is over,” said NAR Chief Economist Lawrence Yun. The presence of multiple offers implies that housing demand is not being satisfied due to lack of supply. Meanwhile, housing starts are forecast drop 5.3%

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Construction Inventory Realtors Housing Market 370

Empire Appraisal Group

SEPTEMBER 8, 2022

Housing Market Collapse? Housing Market Collapse? The housing market has taken a few hits, such as a doubling of mortgage rates in 2022, but it remains solid even if legitimate news providers suggest doom and gloom. housing market is suffering some cracks, but an outright collapse is nowhere in sight.

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Housing Wire

JUNE 17, 2021

“Mortgage rates continued to drift down as markets concur with the view that inflation increases are temporary,” said Sam Khater, Freddie Mac’s Chief Economist. Fannie Mae ‘s economic and strategic group mirrored a similar outlook on inflation’s transitory effects on both mortgage rates and the housing market.

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Housing Wire

DECEMBER 20, 2022

Economists believe that if the trend continues, the market will be able to improve in the second half of 2023. . “The latest data on the housing market show that homebuilders are pulling back the pace of new construction in response to low levels of traffic, and we expect this weakness in demand will persist in 2023, as the U.S.

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Mortgage Housing Market Retail Contracts 410

Housing Wire

MAY 24, 2023

The housing market received positive data on new residential construction – which is seen as a key solution to the lack of housing inventory,” Kan added. . “Investors remained attuned to the uncertainty around the U.S. Department of the Treasury.

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Mortgage Inventory Retail Housing Market 384

Housing Wire

JUNE 7, 2022

Consumers’ concerns about housing affordability are squeezing would-be homebuyers out of the market, according to Fannie Mae ‘ s Home Purchasing Sentiment Index , which tracks the housing market and consumer confidence to sell or buy a home. The index score dropped by 0.3 points to 68.2

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Housing Wire

APRIL 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The lack of housing inventory is a major constraint to rising sales,” Lawrence Yun , NAR’s chief economist, said in a statement. In the new construction sector , NAR predicts sales to increase 4.5% year over year. year over year to 4.56 million for all of 2023.

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Inventory Realtors Contracts Construction 432

Housing Wire

MARCH 9, 2021

The index plunged from record highs seen in late 2019 after the COVID-19 pandemic resulted in the worst economic contraction since the Great Depression. The group’s Mortgage Credit Availability Index remained unchanged at 124.6 last month, still hovering near levels previously seen in 2014.

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Mortgage Government Buyers Contracts 479

Housing Wire

DECEMBER 4, 2020

However, Nothaft expects that mortgages originated today, with a contract rate of 3% or lower, are more likely to have a relatively long life and lenders will not see them coming into refinance anytime soon. Especially when contract interest rates for refis are below 3%. On average, CoreLogic predicts mortgage rates to sit closer to 3.2%

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Mortgage Contracts Construction Inventory 512

Housing Wire

JANUARY 4, 2023

This article is part of our 2022 – 2023 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 Market Marketing Mortgage Contracts 530

Hank Miller Team

JULY 12, 2023

The first half of the Atlanta 2023 housing market shared many similarities with the first half of the 2022 real estate market. In fact, some market are ahead of those record highs of '22. Clearly it's not the same market, but the interest rate shock seems to be accounted for. Fewer buyers, fewer contract and sales.

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Housing Market Marketing Buyers Sellers 40

Housing Wire

JULY 26, 2021

And on top of all that, any buyer in “contract” can get “gazumped” (contracted price goes up) at any time until the final weeks of that sale agreement. That market, which is fiercely competitive, allows consumers the best chance to see all inventory and make informed decisions. No one helps them with the negotiation process.

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Real Estate Agent Real Estate Sellers Legal 384

Housing Wire

NOVEMBER 2, 2022

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 7.06% on Wednesday from last week’s 7.16%, according to the Mortgage Bankers Association. . Six months ago, if someone would’ve given a contingent offer, they would’ve gotten laughed at,” Davidson said.

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Housing Wire

FEBRUARY 18, 2022

Homes went under contract in just 19 days on average, down from 21 a year ago. “There were more listings at the higher end of the market and the median sales price increased for the third straight month, suggesting fewer entry-level and less expensive options, making home-purchase conditions more difficult for first-time buyers.

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Housing Wire

NOVEMBER 17, 2022

For this reason, the number of housing units “under construction” is the largest ever recorded in history because they were taking so long to finish. For the builders, they have a new problem: they had homes under contract and then mortgage rates jumped in the biggest fashion ever recorded in history.

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Contracts Construction Supply Chain Marketing 545

Housing Wire

JUNE 21, 2021

Many are eyeing scenic East Tennessee, where Knoxville and its surrounding suburbs have formed one the country’s hottest housing markets. Currently on Realtor.com , more than 2,000 homes are currently on the market in Knoxville with an average listing price of $270,000. Generally, they go under contract in a day or two.”

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Housing Market Marketing Realtors Inventory 432

Housing Wire

JULY 25, 2022

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. The market is going to go into correction,” he said. “I

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Housing Market Marketing Supply Chain Real Estate 397

Cleveland Appraisal Blog

MARCH 30, 2021

This fish phenomenon reminds me of the housing market today. As soon as homes hit the market, they often sell in days, with numerous offers that usually bid the list price up. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. That is a lot of bread!

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Housing Market Marketing Reconsideration of Value Contracts 367

Houston Properties

JANUARY 13, 2021

Houston Housing Market Forecast: Current Data & 2021 Predictions. Concerned about a housing market crash? SUMMARY: Coming off a record year, the Houston real estate market started 2021 in a seller’s market. High-quality homes sell in nearly every market. Properties are still going under contract.

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Housing Market Marketing Real Estate Realtors 68

Appraisal Today

APRIL 5, 2024

I’m always looking for something new == The Full Measure with Kevin Hecht: March 2024 Housing Market Insights By Kevin Hecht, March 28, 2024 Excerpts: In this installment of The Full Measure with Kevin Hecht, uncover March 2024 housing market insights, plus key takeaways for residential appraisers. percent from 6.93

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Housing Wire

MARCH 17, 2022

Census Bureau released their construction report for February, showing a positive trend in housing construction data with a lovely print in housing permits at 1,859,000 and housing starts at 1,769,000. Of course, that’s until you look at the housing completion data, which hasn’t gone anywhere in years.

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Construction Housing Market Inventory Buyers 466

GoForrmz

OCTOBER 26, 2022

In 2021 , we saw houses receive multiple offers and sell for thousands of dollars over asking price within hours. Now as 2022 starts to wind down, a lot of people are trying to forecast how the housing market will turn out in 2023. But there is one thing for certain: technology has changed the overall industry.

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Real Estate Contracts Clients Real Estate Agent 78

Housing Wire

DECEMBER 1, 2022

Interest rates and inflation continued to dampen activity in the housing market across all 12 Federal Reserve districts, according to the Fed’s latest Beige Book. ” In the Dallas district, housing outlooks worsened, with those interviewed expecting “further erosion in sales and home starts in the near term.”

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Housing Market Marketing Construction Inventory 370

Housing Wire

JANUARY 19, 2023

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. However, housing affordability worsened.

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Inventory Housing Market Marketing Construction 421

Housing Wire

APRIL 28, 2022

” Lawrence Yun, chief economist for the NAR , said the dip in contract signings suggests “multiple offers will soon dissipate and be replaced by much calmer and normalized market conditions.”. The post A more “normalized” housing market is on the horizon: NAR appeared first on HousingWire.

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Housing Market Marketing Contracts Mortgage 332

Empire Appraisal Group

JANUARY 11, 2023

Some housing markets may see an uptick in homebuying activity at the beginning of the year, especially if mortgage rates continue receding from a recent high of 7%. NAHB: Sharp Contraction in Construction. Housing markets will continue to struggle with the loss of consumer confidence.”.

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Real Estate Marketing Buyers Sellers 78

Cleveland Appraisal Blog

JUNE 17, 2022

What’s the difference between a newly constructed home and a hundred-year-old home? When developing an opinion of the market value of a property, what appraisers are really measuring is how much depreciation a property has suffered from, and more specifically how much depreciation the improvements on the land have depreciated.

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Appraisal Development Market Value Tenants 279

Housing Wire

MAY 22, 2023

While Fannie Mae expects sales to soften somewhat later in the year, the new housing market appears more upbeat than it was at the start of the year. Pending home sales, which lead contract signings on average by 30-45 days, declined during that time by 5.2%, pointing to a further sales slowdown in April and May. trillion.

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Construction Inventory Government Contracts 397

Housing Wire

DECEMBER 29, 2021

There’s a management process we do where we touch each listing approximately 23 times, from changing the status and stage in construction process to changing the photographs. And then builders are pretty likely to change prices throughout the life of listings, and they’ll list it and if the market is softer, they will lower the price.

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Realtors Real Estate Agent Agents Real Estate 397

Will Springer Realtor

APRIL 14, 2023

APRIL HOUSING UPDATE The signs are generally pointing in the right direction for our local (and national) residential real estate scene, but it is taking more time than usual to turn a cruise-ship-sized sector around without leaving damage in its wake.

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Contracts Buyers Housing Market Design 36

Housing Wire

MAY 23, 2023

housing market. And with total active house listings in America near all-time lows, that is all we have for completed units for sale. Just like with the existing home sales market, all that is happening is that home sales stabilized from a low level. months, this is just an OK market for builders. When supply is 4.4-6.4

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Inventory Housing Market Construction Marketing 520

Housing Wire

OCTOBER 21, 2020

The housing market faced a lot of uncertainty when COVID-19 caused the real estate industry to pause under shut-downs, but low interest rates and the desire for more space has turned this year into a boom time for real estate agents. Lovern was actually on maternity leave at that time when open houses and contracts were paused. “In

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Housing Market Marketing Real Estate Agent Real Estate 545