Remove Construction Remove Inventory Remove Presentation Remove Realtors
article thumbnail

NAR’s Lawrence Yun predicts lower rates, 15% jump in existing-home sales in 2024

Housing Wire

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). He also expects more sellers to enter the market, as they adapt to prolonged higher rates.

article thumbnail

The current REO market requires an expansion of services for business growth

Housing Wire

Balancing supply and demand is a delicate dance between new construction and existing properties. Presently, the demand for existing homes outpaces the available supply, raising potential concerns for both sellers and buyers.

Business 404
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Mortgage rates continue to idle at 2.88%

Housing Wire

Khater said that homebuyers are soaking up all available inventory, which has improved slightly, while home-price growth is also moderating. Presented by: CoreLogic. Housing demand is strong heading into the fall, despite fast-rising home prices and low inventory,” said Kan.

Mortgage 442
article thumbnail

Mortgage rates drop below 3% again

Housing Wire

As rates rise, demand wanes and builders can catch up on the few months of inventory left for hungry borrowers. Presented by: Computershare Loan Services. If new home sales don’t grow, housing construction will slow down. The falling number of homeowners in mortgage forbearance will also bring about more inventory.”.

Mortgage 457
article thumbnail

Existing home sales dip downwards for fourth month

Housing Wire

million, the National Association of Realtors reported on Tuesday. “Lack of inventory continues to be the overwhelming factor holding back home sales, but falling affordability is simply squeezing some first-time buyers out of the market,” said Lawrence Yun, NAR’s chief economist. Unsold inventory sits at a 2.5-month

Inventory 414
article thumbnail

First-time homebuyers fueling hot Des Moines housing market

Housing Wire

The Des Moines housing market has had a record-setting year for home sales, which local Realtors credit to low mortgage rates, the work from home phenomenon and Des Moines’ affordable lifestyle. Presented by: MCS . Housing inventory in the Des Moines housing market is tight. I haven’t had anybody so far downsize.”.

article thumbnail

17 Realtors® Go Back in Time: First Year Real Estate Advice

Raleigh Realty

One of the first questions new Realtors have for me is always 'how much money will I make in my first year?' How much commissions you make in your first year as a Realtor will be entirely dependent on you and how much business you're able to generate. What is the average price of sold homes in your area?