Remove Contracts Remove Mortgage Remove Realtors Remove Supply Chain
article thumbnail

Despite lack of supply, existing home sales rise 6.7%

Housing Wire

annually to $350,000, according to the Friday report from the National Association of Realtors. The supply of homes for sale fell to a record low, down 16.5% months of supply; a healthy market generally has between four and six months of supply. from December and mortgage rates shot up 30 basis points.

article thumbnail

Pending home sales reach highest May mark in 16 years

Housing Wire

The strong increase in home sales and transactions in May —following a dip in April — was a surprise, per Lawrence Yun, National Association of Realtors chief economist, who attributed the home sales increase to mortgage rates remaining below 3%, as well as an uptick, nationally, in listings. year over year. . year over year.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Opinion: What the ICE-Black Knight merger means

Housing Wire

Many industries began to deploy electronic supply chains in the 1980’s. Lenders began to define the “trust model” of standards, contracts and shared services necessary to achieve cross industry interoperability. Realtors have a structural advantage as the listing event is the signal to downstream transactions.

article thumbnail

Pending home sales drop, but there’s a silver lining

Housing Wire

in January from December, according to a report from the National Association of Realtors. It’s no secret that low mortgage rates and societal shifts brought on by COVID-19 have collided to form a red-hot housing market. All four areas saw contract transactions increase from a year-over-year standpoint. million in 2020.

article thumbnail

Dave Stevens on understanding this housing market

Housing Wire

I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. In fact, it was the skills I developed selling loans that helped develop my ability to influence policy leaders and others in industry during my time as Federal Housing Commissioner and as CEO of the Mortgage Bankers Association.

article thumbnail

The evolution of the more productive real estate agent 

Housing Wire

As more and more people enter the real estate industry – membership at the National Association of Realtors has ballooned to a record 1.6 But with rising mortgage rates, still-rising home prices, and record-low levels of inventory, this might be easier said than done. Just how we do contracts now is so much faster. In 2021, 6.12

article thumbnail

Ohio Land for Sale: Is the Market Still Ripe for Growth in 2022?

The Robert Weiler Company

And undeveloped land is increasingly attractive for investors after favorable reports from the Ohio REALTORS®. Low mortgage rates have steadied, welcoming batches of new buyers eager to own a home in the market. Figures from the Ohio REALTORS® Housing Market Report reveal that Ohio home sales reached historical levels in May 2022.