Housing Wire
DECEMBER 23, 2024
New home sales grew over last month in the latest Census report , but homebuilders are now facing a supply issue their inventory is building up. This is the reason why housing starts are at recession levels today. Monthly new home sales have been stagnant for the past two years. When mortgage rates decline, sales improve, but it becomes more challenging for builders and buyers when rates rise.
Appraisal Buzz
DECEMBER 3, 2024
Where is the best place to spend your golden years? According to U.S. News & World Report’s new study, 2025’s Best Places to Retire in the U.S. , Naples, Florida takes the top spot. Florida’s Paradise Coast beat out 149 other top U.S. cities, with Virginia Beach, New York City, Sarasota, and Boise rounding out the top five best retirement locales.
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Sacramento Appraisal Blog
DECEMBER 3, 2024
Condos are struggling, and they’re really having a moment in today’s housing market. Let’s talk about what’s going on with volume, supply, and prices. Be sure to read my closing thoughts about housing doom and hot pockets too. UPCOMING SPEAKING GIGS: 12/5/24 Made 4 More Team (Exporting Data from MLS) 12/11/24 Gateway: Think Like an […] The post Condos are having a moment first appeared on Sacramento Appraisal Blog.
Real Estate News
DECEMBER 24, 2024
In an email to leaders, the association said PARs refusal to stop offering its MLS Choice option leaves NAR no choice but to defend its trademark and model.
Speaker: Timothy Allsopp
Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.
Housing Wire
DECEMBER 30, 2024
All the housing market data for 2024 is in, and its fair to say that the housing market surprised us again! However, there are two big trends that stand out as we launch into 2025 affordability and sellers in the market. The elephant in the room is affordability. Home prices finished 2024 up a few percent nationally and mortgage rates are at their highest level in seven months back over 7% as we head into January.
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Housing Wire
DECEMBER 28, 2024
The most positive development in the housing market over 2024 has been the increase in active housing inventory , which is approaching the levels seen in 2019. Although those 2019 levels represent a five-decade low before COVID-19, the market was still functioning better than it did from 2020 to 2023. During the first few years of COVID-19 recovery, there was an unhealthy imbalance, with too many buyers competing for too few homes.
Housing Wire
DECEMBER 18, 2024
They say housing leads the economy in and out of a recession. Currently, housing starts are back at the levels seen during the COVID-19 recession in 2020. Interestingly, employment for residential construction workers typically one of the first areas to experience declines before a recession has not yet seen its usual downturn. Several factors have been keeping labor steady, such as working through a backlog of orders and long turnaround times to complete projects.
Housing Wire
DECEMBER 19, 2024
The COVID-19 pandemic turned previously sleepy cities into boomtowns.Expanded or permanent work-from-home policies gave people more flexibility in where to live, and those in uber-expensive markets like San Francisco and Manhattan took advantage by moving to areas where they could get more space for less money. This created incredibly competitive housing markets in smaller cities that pushed sales and prices sky high.
Housing Wire
DECEMBER 5, 2024
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. Are you looking to add a dose of inspiration, humor and expertise to your Instagram feed? From luxury property tours to laugh-out-loud real estate memes, these 21 agents and influencers bring the best of the industry right to your phone.
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Housing Wire
DECEMBER 30, 2024
Rising housing inventory levels in 2024 may not be the positive sign of market health that they appear to be. High inventory levels contribute to another problem as active listings are remaining unsold for longer periods. Although higher home prices , rising mortgage rates and other expenses are obvious factors, there may be more to the story. Rising supply is one of the housing market highlights of 2024, according to HousingWire Lead Analyst Logan Mohtashami , who said that housing inventory is
Appraisal Buzz
DECEMBER 16, 2024
Of the property managers aware of the practice, almost half (48%) report rent payments to credit agencies, says a new report from TransUnions Tenant and Employment group a 33% jump from last year, and last year was a 36% jump from the year before. That means more than half (52%) of property managers who report rent payments began doing so in the past two years.
Housing Wire
DECEMBER 27, 2024
As you plan your 2025, its important to be intentional about including self-development activities. After all, our business will only grow as much as we do as business owners. With hundreds of books to choose from, it can be overwhelming to know which one will truly have a positive impact on your life and your business. To help, we reached out to real estate agents nationwide to compile our list of the best books for real estate agents.
Appraisal Buzz
DECEMBER 19, 2024
The National Association of Realtors reports that existing-home sales increased in November. Three major U.S. regions saw growth in sales, but the West saw no change. All four regions saw an increase in sales year over year. The seasonally adjusted annual rate of existing-home sales, which includes completed transactions of single-family homes, townhomes, condominiums, and cooperatives, increased 4.8% from October to 4.15 million in November.
Housing Wire
DECEMBER 7, 2024
Last week, we witnessed a Santa Claus rally in mortgage rates alongside improved housing demand. The economy continues to create jobs, with wages growing at an annual rate of 4%. We also see growth in our pending contract data compared to 2022 and 2023. Additionally, the purchase application data delivered another pleasant surprise with positive results.
Housing Wire
DECEMBER 21, 2024
Federal Reserve Chairman Jerome Powell played the Grinch last week for the housing market, sending mortgage rates higher after his remarks at the Fed presser on Wednesday. Despite this, we had positive data on existing home sales , purchase applications, and our weekly pending contract figures. Total active listings are experiencing their traditional seasonal decline, but with less than two weeks left in the year, its evident that there are ready homebuyers in America.
Appraisal Buzz
DECEMBER 18, 2024
The U.S. Senate has announced the passage of the bipartisan Homebuyers Privacy Protection Act (S. 3502) , a measure that will ban trigger leads except in limited circumstances. When a consumer applies for a mortgage, credit bureaus are notified that the consumer is interested in financing, which is referred to as a trigger lead. That information is then sold by the credit bureaus to data brokers (including other lenders) without the consumers knowledge or approval.
Housing Wire
DECEMBER 20, 2024
Home sales in 2024 have been well below historic norms. Higher prices, higher mortgage rates and limited inventory are making for a slow market among buyers and sellers alike. Real estate investors tend to be more insulated from these dynamics, particularly from mortgage rates, as they are more likely to buy properties with cash. But even investors have purchased fewer homes this year.
Appraisal Buzz
DECEMBER 23, 2024
Freddie Mac s most recent survey of baby boomer housing opinions, preferences, and plans indicates that roughlythree quarters of homeowners born before 1964 are likely to pass a large portion of their $17 trillion in home equity to their offspring. The majority of boomers who own a home are certain they will enjoy a pleasant retirement, according to Freddie Macs recent, extensive study of respondents aged 60 and over.
Housing Wire
DECEMBER 17, 2024
The American dream is synonymous with two ideas. One is the idea that anyone in this country can find a path to economic success regardless of their circumstances at birth. The second idea is the symbolic encapsulation of the first idea: homeownership. Owning a home is the signifier of economic success, but over the last few years, that milestone has gotten farther out of reach for first-time homebuyers.
Appraisal Buzz
DECEMBER 2, 2024
Nationwide, the average rent price fell by -0.8% to $1,720 in October, marking their 15th consecutive month of year-over-year declines and falling the most for smaller-sized units, according to Realtor.com’s October Rental Report. Realtor.com notes that new rental properties coming onto the market are expected to put continued downward pressure on rents next year.
Housing Wire
DECEMBER 19, 2024
The housing industry is getting an early Christmas gift. The National Association of Realtors (NAR) reported that existing-home sales in November rose to a seasonally adjusted annual rate of 4.15 million, a 4.8% increase over the revised October number and a 6.1% increase year over year. The annualized rate is the highest seen since the tally of 4.22 million in March 2024 , and its the highest year-over-year increase since a 23% gain in June 2021.
Appraisal Buzz
DECEMBER 23, 2024
For prospective homebuyers seeking locations with a promising return on investment, the ConsumerAffairs research team analyzed data across 477 U.S. metropolitan areas and all states. Using factors like market stability, long-term growth, affordability, and market fluidity, this guide highlights housing markets expected to perform well in 2024. The Best States for Homebuyers in 2024 ConsumerAffairs analysis ranks states with strong market resilience, potential for value appreciation, and affordab
Housing Wire
DECEMBER 30, 2024
Despite rising mortgage rates through much of 2024, recent indications show growing boldness among homebuyers heading into the new year. A report released Monday by the National Association of Realtors (NAR) showed an increase in pending home sales for the fourth consecutive month. NAR’s Pending Homes Sales Index (PHSI) report is a forward-looking source that predicts home sales based on contract signings.
Housing Wire
DECEMBER 27, 2024
If youre reading this article, youre not alone. Youve likely heard about real estate teams and how they can impact your career but what exactly are they, and why are so many agents joining or building teams? Its a big decision to make whether youre just starting or want to take your career to the next level. Its important to understand how real estate teams work for you to decide whether its the right career move for you.
Appraisal Buzz
DECEMBER 5, 2024
The recent surge in immigration to the United States has ignited discussions about its potential effects on the housing market, particularly concerning housing costs. This conversation is especially pertinent amid an ongoing affordability crisis, where approximately half of renters are cost-burdened, and many individuals are being priced out of homeownership.
Housing Wire
DECEMBER 16, 2024
As the year draws to a close, available unsold inventory of homes on the market is nearly 27% greater than a year ago. Almost every market in the country has more homes available now than at the end of 2023. Ten states have more inventory unsold than in 2019, which was the last sort of normal year before the pandemic. A few states have more homes on the market now than any time in the last eight to 10 years.
Appraisal Buzz
DECEMBER 11, 2024
According to Redfin , the median U.S. asking rent fell 0.7% year-over-year in November to $1,595, the lowest level since March 2022. Rents were down 1.1% on a month-over-month basis. The median rent is now 6.2% lower than when it hit an all-time high of $1,700 in August 2022. Highlighting improved rental affordability, November marked the 19th consecutive month where the median asking rent price per square foot (PPSF) fell year-over-year, down 2.2% to $1.79.
Appraisal Buzz
DECEMBER 9, 2024
The latest Fannie Mae Home Purchase Sentiment Index (HPSI) increased 0.4 points in November to 75.0, continuing its sharp upward trend over the past year, as consumers appear to be acclimating to higher mortgage rates in todays home price environment. In November, a new record-high share of consumers indicated that they expect mortgage rates to decline over the next 12 months, while fewer respondents said they expect home prices to rise.
Housing Wire
DECEMBER 20, 2024
A new bill introduced in the U.S. House of Representatives proposes to relieve Federal Housing Administration (FHA) borrowers of mortgage insurance premiums (MIPs) once they reach a certain level of home equity , aligning FHA policies with those of conventional loans. Introduced by Reps. Gregory W. Meeks (D-N.Y.) and Pete Sessions (R-Texas) on Thursday, the bipartisan bill allows borrowers to stop paying mortgage insurance once their loan-to-value (LTV) ratio reaches 78%, rather than paying it f
Appraisal Buzz
DECEMBER 19, 2024
The Five Star Institutes Legal League has announced the launch of its latest White Paper, Non-Uniform Foreclosures. Legal League is a professional association of financial services law firms spread out across the U.S. The Legal League is uniquely positioned to drive progress in the mortgage servicing industry. Legal League members provide a clear view of the legal landscape and the expertise to navigate it, committed to supporting its membership through education, communication, relationship dev
Appraisal Buzz
DECEMBER 16, 2024
According to a new study from Redfin , older Americans are more likely than younger Americans to buy homes in places with significant climate risk. More than one-third (36.9%) of home purchases made by people 65 years of age and older last year were in counties with an elevated risk of extreme heat, compared with less than one-third (32.3%) of home purchases made by people under the age of 35.
Appraisal Buzz
DECEMBER 6, 2024
A recent analysis of Federal Housing Finance Agency (FHFA) data by the Urban Institute dispels the myth that manufactured homes do not appreciate as much as site-built homes. The report , which includes government-sponsored enterprise (GSE) mortgage data for manufactured homes, reveals that between 2000 and 2024, manufactured homes appreciated at nearly identical rates to site-built homes, growing approximately 5% annually.
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