Housing Wire

NOVEMBER 21, 2023

Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. Homes typically go under contract a month or two before the closing, which means the October data largely reflects purchase decisions made in August and September. from September, with 1.15

Inventory 398

Inventory Realtors New Listings Contracts 398

Inman

FEBRUARY 5, 2024

percent decline in net new listings and a 2 percent decrease in contract signings, driven by mortgage rate fluctuations, according to HouseCanary. Despite a rise in total inventory compared to 2022 and 2023, the market is still behind historical inventory averages as sellers avoid entering a higher rate environment.

New Listings 170

New Listings Contracts Inventory Real Estate 170

Housing Wire

MAY 4, 2023

On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. On the other hand, inventory is still low, and homes are still selling fast, often with multiple offers. Sales and new pending contracts are below pre-pandemic levels. Mortgage rate fatigue.

Housing Market 408

Housing Market Marketing Inventory Buyers 408

Housing Wire

FEBRUARY 7, 2023

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022.

Mortgage 379

Mortgage Loan Officers Government Buyers 379

Empire Appraisal Group

FEBRUARY 29, 2024

Lusky, DigitalVision, Getty Images Source: [link] FSBO Sellers Regret Not Having an Agent By Melissa Dittmann Tracey Survey: Sellers who go-it alone are twice as likely to be unsatisfied with the experience – and more likely to say their earlier opinion, “agents are overpaid,” was wrong.

Sellers 78

Sellers Agents Real Estate Agent Real Estate 78

Appraisal Buzz

MARCH 28, 2024

Month-over-month, contract signings climbed in the Midwest and South but sank in the Northeast and West. Ongoing job gains are clearly increasing demand along with more inventory.” There will be a steady rise in inventory from recent growth in home building,” Yun adds. Pending home sales increased 1.6% in the Midwest and 1.1%

Inventory 195

Inventory Housing Market Contracts Realtors 195

Housing Wire

JANUARY 8, 2021

As we think about coming out of this first month of the year, we’ve quickly realized this year is going to be anything but planned or what we in the mortgage lending industry are used to. But for others, low mortgage rates gave way to pre-approved borrowers struggling in a very competitive seller’s market.

Lending 441

Lending Mortgage Inventory Business 441

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 market has now faced a contraction in existing-homes sales for nine consecutive months, while home prices and rates rise.

Buyers 470

Buyers Realtors Inventory Sellers 470

Housing Wire

DECEMBER 15, 2021

Mortgage applications fell 4% for the week ending Dec. 10, large part because fewer borrowers are looking to refi their exiting mortgages, according to the Mortgage Bankers Association (MBA) survey published on Wednesday. Compared to a year ago, mortgage applications declined across the board. from the week prior.

Inventory 399

Inventory Contracts Government Mortgage 399

Housing Wire

OCTOBER 24, 2022

It’s now October, we’ve had the biggest spike in mortgage rates we’ve seen in decades, and all the signs of a slowdown are here: Inventory is rising. The big question is: how long will the market contraction last and when should we expect things to heat back up? Home buyers got spooked when mortgage rates passed 5.5%.

Real Estate 317

Real Estate Marketing Inventory Sellers 317

Housing Wire

NOVEMBER 28, 2023

Home prices rallied in September, as homebuyers still outnumbered sellers. Mortgage rates climbed over the period, reaching 7.3% Low levels of existing home inventory contributed to keeping home prices elevated. Home prices posted a 3.9% annual gain in September, up from a 2.5% Month-over-month, the U.S. in August.

New Listings 366

New Listings Contracts Inventory Sellers 366

Housing Wire

APRIL 15, 2024

We saw a big jump in mortgage rates last week. The 30-year fixed rate mortgage, according to the HousingWire Mortgage Rates Center , is now over 7.2% — that’s 50 basis points above where we were at the start of the year. At that time, most of the voices in the media assumed that mortgage rates had peaked and would fall by now.

Inventory 406

Inventory Mortgage New Listings Sellers 406

Housing Wire

NOVEMBER 7, 2023

One of the top concerns for homebuyers as well as agents right now is the historic lack of inventory. Change the search area, change the type of home or find an equally great school district to look in that has more inventory. Offer them solutions to get a better-than-average mortgage rate. Find them their dream home.

Clients 398

Clients Buyers Real Estate Agent Real Estate 398

Housing Wire

NOVEMBER 29, 2021

Who is crazy enough to write an American economic recovery model on April 7, 2020, and try to explain to people why housing isn’t going to crash due to demographics, good credit profiles and low mortgage rates? An index of 100 is equal to the level of contract activity in 2001.” in October. Year-over-year, signings fell 1.4%.

Inventory 527

Inventory Contracts Training Investors 527

Housing Wire

AUGUST 27, 2020

in July, the third consecutive month of gains, fueled by low mortgage rates and unprecedented demand from consumers. The seasonally-adjusted index measuring signed contracts was up 15.5% Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings.”.

Contracts 477

Contracts Realtors New Listings Real Estate 477

Housing Wire

DECEMBER 23, 2022

The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. The run-up in home prices was driven by rock-bottom mortgage rates and pandemic-fueled demand. Average mortgage rates jumped above 7% in November and have settled around 6.5%

Housing Market 386

Housing Market Marketing Inventory Buyers 386

Housing Wire

MARCH 27, 2023

But with the tech sector in turmoil, a looming recession, and consistently elevated mortgage rates, that trend is now making an about-face. In addition, just 16% of the homes in Austin went under contract within two weeks of hitting the market. Sellers are locked in because they can’t justify giving up a 2.9%

Housing Market 363

Housing Market Marketing Contracts Buyers 363

Housing Wire

APRIL 17, 2023

In early 2023, however, as inventory in Austin has become more and more constrained, buyers have become accustomed to the higher mortgage rates and demand has ticked up. “It For agents and sellers looking to succeed in Austin’s current market, Redding says pricing is key. “We And the data supports Martirena’s assertion.

Housing Market 376

Housing Market Marketing Inventory Buyers 376

Lamacchia Realty

FEBRUARY 14, 2024

ARE YOU A "WANT-TO-BE" SELLER IN 2024? From low inventory levels to increasing mortgage rates , the real estate landscape has experienced a multitude of changes and challenges over the last several years, leaving many sellers wondering when the “right” time to list would be given current market conditions.

Sellers 64

Sellers Realtors Buyers Inventory 64

Housing Wire

SEPTEMBER 22, 2022

Even though this was a beat of estimates, the sales decline trend due to higher mortgage rates and home prices continues. The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . I am a big fan of inventory to 2019 levels.

Inventory 448

Inventory Housing Market New Listings Mortgage 448

Housing Wire

APRIL 29, 2024

It’s still April, so there could be as many as eight more weeks of seller growth in the spring housing market. And seller growth is happening pretty much everywhere across the country, with Florida and Texas leading the way. The bearish take is that there are many more sellers than buyers and inventory is rising.

Sellers 483

Sellers Marketing Inventory Contracts 483

Housing Wire

FEBRUARY 18, 2022

Homebuyers flocked to what little inventory existed in January, with existing-home sales rising 6.7% from December and mortgage rates shot up 30 basis points. Homes went under contract in just 19 days on average, down from 21 a year ago. Homes went under contract in just 19 days on average, down from 21 a year ago.

Supply Chain 404

Supply Chain Inventory Buyers Contracts 404

Housing Wire

OCTOBER 16, 2023

Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving. It’s true that first-time buyers make up a larger piece of a smaller pie, as housing inventory shrinks. It never will be. I’ll explain later.)

Agents 400

Agents Buyers Sellers Inventory 400

Housing Wire

JUNE 24, 2021

Mortgage startup Accept.inc announced Thursday it raised $90 million in debt and equity. If a homebuyer can’t close on their mortgage in time to buy the home they want, instead of losing out on the house, Accept.inc will buy the property with its own funds and reserve the home on their behalf.

Sellers 350

Sellers Buyers Investors Inspection 350

Housing Wire

APRIL 25, 2023

Mortgage financing and the prospect of economic weakness are therefore likely to remain a headwind for housing prices for at least the next several months,” Lazzara said. However, despite the recent uptick, the continued low inventory conditions are expected to keep home prices elevated nationally. to a reading of 297.68.

Inventory 353

Inventory Contracts Buyers Sellers 353

Housing Wire

DECEMBER 8, 2023

Ultimately, every homebuyer prospect, every contract and every negotiation is different, but your value should be consistent for all situations and clients. Find them the right home Inventory is scarce, and will likely stay that way for a while. There are other ways to find inventory rather than just using your MLS.

Clients 412

Clients Real Estate Inspection Buyers 412

Housing Wire

AUGUST 18, 2023

Not prequalifying is unprofessional and can waste your time and the sellers. Don’t lose the listing of a motivated, have-to-sell seller over price. Try saying the following when the seller requests a list price that is too high: “That’s interesting, ‘seller.’ Always prequalify, 100% of the time!

Sellers 367

Sellers Construction Real Estate Finance 367

Housing Wire

NOVEMBER 29, 2022

While buyers are stepping aside waiting for more affordable prices and rates – causing the slowdown on price growth – would-be sellers are sticking their ground and holding tight to the inventory they currently own,” Nicole Bachaud, Zillow’s senior economist, said in a statement. “As to a reading of 317.35.

Inventory 363

Inventory Contracts Sellers Finance 363

Housing Wire

MAY 10, 2022

The report used real time listing data to show the limited housing inventory and the repercussions to home buyers. By using real time inventory data, and stratifying by income, the report highlights that for a household who earns $75,000 to $100,000 they have 411,000 fewer homes available for sale compared to pre-pandemic.

Housing Market 429

Housing Market Realtors Buyers Inventory 429

Realtor

OCTOBER 16, 2023

“Doing your due diligence can help you avoid some of the most common rookie mistakes, so you come out not only with the home of your dreams, but also a mortgage you can afford.” Here are some common blunders homebuyers make when attempting to secure a mortgage.

Mortgage 190

Mortgage Real Estate Agent Real Estate Buyers 190

Hank Miller Team

APRIL 6, 2022

It's time to answer the nagging question…did housing inventory in Atlanta increase during the first quarter of 2022? This year however, rocketing mortgage rates and other economic challenges may change that. No visible increase in inventory over the first quarter of 2022, if fact we're at a low point right now.

Inventory 94

Inventory Contracts Buyers Sellers 94

Housing Wire

APRIL 1, 2024

As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. At the same time, seller volume dried up. But now sellers are coming back into the market. Total available inventory is gradually climbing about 1% per week — last year it was still declining in April.

Inventory 457

Inventory New Listings Contracts Sellers 457

Cleveland Appraisal Blog

OCTOBER 14, 2021

On many of my appraisals at that time, my opinion of value would not support the contract price. Don’t drink the Kool-Aid that any contract price is reflective of market value. It is interesting that inventory levels were increasing rapidly in the years leading up to 2008. Granted, mortgage rates were not terrible.

Inventory 243

Inventory Market Value Appraisal Contracts 243

Appraisal Buzz

DECEMBER 27, 2021

million units , and some experts say it could reach 8 million if there were more inventory. Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. This change will be effective starting in 2022 and should reduce inefficiencies in the mortgage and homebuying process.

Appraisal 397

Appraisal Valuation Modernization Contracts 397

Listing Spark

JUNE 21, 2022

Back then, terrible lending regulations, a surplus of inventory, and little to no equity for homeowners was a recipe for disaster. Today, high amounts of homeowners equity and demand paired with an extreme shortage of inventory make for very different market conditions compared to the last crash. Well, the data doesn’t lie. SOURCE: St.

Sellers 69

Sellers Housing Market Marketing Inventory 69

Housing Wire

MARCH 11, 2024

Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The only way inventory would grow in 2024 is if mortgage rates climbed.

Inventory 502

Inventory New Listings Sellers Real Estate 502

Housing Wire

SEPTEMBER 7, 2023

Sellers want their listing broker to pay the buyer broker’s compensation because it will result in the most buyers being able to afford their house.” If the traditional practice of sellers paying for both sides of the agents ends, housing agencies will have to weigh in to determine ways for buyers to finance their agents’ comp, LOs noted.

Buyers 390

Buyers Agents Loan Officers Real Estate 390