Sat.Apr 22, 2023 - Fri.Apr 28, 2023

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New home sales proving Wall Street was wrong 

Housing Wire

Why are the homebuilder stocks up so much? Don’t they know the new home sales apocalypse is here? You know, the one that says we have too much inventory and millions of vacant homes in the U.S.? According to this theory, we have more homes under construction than any time in history. The truth is, it’s not 2008 all over again. I understand the lure of the housing 2008 story.

Inventory 493
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Leaving California. Some fresh migration stats.

Sacramento Appraisal Blog

Leaving California. That’s a buzzworthy topic. Let’s talk about migration today. I have lots of visuals and a few resources to share in case you’re in a different state and looking for data. I’d love to hear your take in the comments. UPCOMING (PUBLIC) SPEAKING GIGS: 5/4/23 Housing Market Q&A 12-2pm 5/10/23 Empire Home Loans event TBA […] The post Leaving California.

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Benefits Of Using a Realtor to Buy Land In 2023

Cleveland Appraisal Blog

Hello friends! With a shortage of housing inventory persisting, some are resorting to building their own home. But to do so, you need land. This week, I welcome back guest blogger, Ashley Rodriguez with bins4less , who wrote this article for the Cleveland Appraisal Blog. I hope you enjoy it! Buying land can be a complicated and sometimes tiring process for an individual to take on all by themselves.

Realtors 276
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Newer brokerages take top spots in Mega 1000 rankings

Real Estate News

Several of the top brokerages in T3 Sixty's Mega 1000 list were founded after 2000, including top-ranking Compass.

Brokerage 309
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Housing Market Tracker: Inventory finally rises

Housing Wire

Can we now say that the housing market ‘s spring selling season is finally underway? Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. Still, we have some promising signs that we might have finally hit the inventory bottom for 2023. We didn’t see too much volatility in mortgage rates last week, but purchase apps declined in reaction to rates rising two weeks ago.

Inventory 545
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Regulation Innovation Stagnation?

George Dell

Current efforts in the regulation of appraisal quality and fairness are fettered by obsolete appraisal methods. Traditional appraisal methods were designed to tackle sparse, subjective, non-electronic data. These vintage practices enable bias, hinder diversity initiatives, and conceal risk quantification. We have written about the “Five Frictions” hindering improvement in regulated appraisal valuation.

Valuation 195

More Trending

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Corcoran's five decades of female leadership

Real Estate News

In 1973, with a $1000 loan, Barbara Corcoran launched what would become a global luxury real estate company. And it's always had a woman at the helm.

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FedNow: instant payments or instant fraud?

Housing Wire

Being able to close on a home at any time on any day of the year has long been a pipe dream, but the Federal Reserve ’s new FedNow instant payment system looks to be making that dream a reality. However, before one gets too excited, the title insurance industry is asking if it really is worth sacrificing security for speed. “There is the obvious perceived benefit of faster payment and they are touting that it will be cheaper than wire transfers , and of course you no longer have to worry about m

Insurance 441
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Here’s every AI platform real estate agents need to know about in 2023

Inman

Tools such as ChatGPT and DALL-E have opened the artificial intelligence floodgates and promise to permanently transform the way agents operate. But there's so much more to explore.

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Lower Rates Spark Housing Demand

Eyes on Housing

The retreat in mortgage interest rates during the first quarter of 2023 (from the 20-year peak reached in the fall of 2022) led a record share of adults in the US – 18 percent – to declare having plans to buy a home within a year – the largest share since the inception of this series in 2018. The finding.

Mortgage 178
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50-year Arizona real estate veteran sees blue skies ahead

Real Estate News

Brokerage leader Bill Ryan, whose firm recently joined KW, has seen tremendous growth — and a few booms and busts — over his five decades in the industry.

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Pending home sales fall 5.2% in March

Housing Wire

For the first time since November 2022, pending home sales fell in March, posting a 5.2% month-over-month decrease, according to data released Thursday by the National Association of Realtors (NAR). The monthly drop resulted in the Pending Home Sales Index recording a reading of 78.9, down 23.3% year over year. An index of 100 is equal to the level of contract activity in 2001.

Inventory 441
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5 make-or-break factors consumers consider when choosing a real estate agent

Inman

A new report by RE/MAX explores what's most important to today’s homebuyers and sellers, from their criteria for choosing a real estate agent to their adaptability for the future. The findings are valuable intelligence for agents and brokers alike.

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Housing Affordability Expectations Improve

Eyes on Housing

Relatively lower interest rates (compared to fall 2022), slowing growth in home prices, and builder incentives are making an impact on buyers’ affordability expectations. In the first quarter of 2023, 73% of buyers reported being able to afford less than half the homes for-sale in their markets, down from a record high of 87% in the final quarter of 2022. .

Buyers 176
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Baird & Warner 'snowbird' agents can follow buyers to Florida

Real Estate News

Jeff and Joanne Collis, originally based in Illinois, have been building a business in Naples, Florida while also working on deals in the Chicago suburbs.

Buyers 258
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MBA: Lenders shouldn’t be held responsible for appraisers’ actions

Housing Wire

The Mortgage Bankers Association (MBA) filed an amicus brief on Friday in response to the Consumer Financial Protection Bureau (CFPB) and the Department of Justice ‘s interest in determining a liability standard that would apply to lenders in cases of alleged bias by third-party appraisers. The mortgage trade group said it was concerned that the CFPB and DOJ would hold lenders liable for the actions of an appraiser, who is neither an employee nor an agent of the lender, a reference to a ca

Appraisal 417
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The call of the wild: Why agents are thriving in remote markets

Inman

When talking about luxury vacation homes, locations such as Wyoming's Teton County and Montana’s Bitterroot Valley may not be the first markets that come to mind, but there’s great value in hidden gems.

Marketing 156
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Share of FHA-Backed New Home Sales Climbs in Q1 2023

Eyes on Housing

NAHB analysis of the most recent Quarterly Sales by Price and Financing report published by the U.S. Census Bureau reveals that the share of new home sales backed by FHA loans jumped from 8.4% to 11.7% in the first quarter of 2023. It is the largest share since 2007 but remains 30% lower than the post-Great Recession average. Conventional loans financed.

Finance 165
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Buckle up: More buyers may be on the way

Real Estate News

A new survey from the National Association of Home Builders found a significant increase in the number of adults who plan on buying a home this year.

Buyers 262
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Desperate for deals, mortgage pros get creative

Housing Wire

With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. He’s been watching the spring homebuying season slowly pick up and buying leads through Zillow and Realtor.com. It’s a lot of work, and there’s no guarantee that they will pay off. “A first-time homebuyer requires a tremendous amount of nurturing,” said Roberts, the president and founder of City Creek Mortgage.

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Highlights from Sotheby’s biggest brand networking event ever

Inman

The event, which took place at The Wynn in Las Vegas, facilitated networking, relationship-building and education across about 3,000 of the brand's agents, brokers and staff.

Agents 154
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Economic Growth Weakens in the First Quarter

Eyes on Housing

In the first quarter of 2023, economic growth slowed to an annual rate of 1.1%, amid rising interest rates and an ongoing banking crisis. This quarter’s growth was dragged down by decreases in private inventory investment and residential fixed investment. Private inventory investment subtracted 2.26 percentage points off the headline growth rate for overall GDP, while residential fixed investment took.

Investing 164
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The search for LGBTQ-friendly agents just got easier

Real Estate News

The LGBTQ+ Real Estate Alliance recently launched a consumer site that helps potential clients find an agent who understands their needs and challenges.

Agents 253
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Home loan demand increases despite higher mortgage rates

Housing Wire

Higher mortgage rates did not scare away potential homeowners last week. Borrower demand for home loans increased across the board, despite rates being at their highest level in over a month. “There are still so many borrowers looking to purchase a home. Plenty of buyers, but not enough homes for sale,” California-based mortgage loan officer Dan Stone, who works with hundreds of mortgage lenders, told HousingWire.

Mortgage 403
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And the cheapest state to buy a home is…

Inman

Although median home price growth has slowed from its once-maniacal pace, purchasing a home is still an expensive feat as existing-home prices reached $375,700 in March. Inflation and elevated mortgage rates have created additional financial pressure and placed homebuyers on precarious hunts for affordable homes — even if they have to switch their area codes.

Brokerage 151
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Popularity of New Homes Stalls

Eyes on Housing

Interest for new home construction was essentially unchanged between the final quarter of 2022 and the first quarter of 2023, as the share of prospective buyers looking to buy a newly built home barely edged from 20% to 21%. Meanwhile, the share interested in existing homes dropped from 39% to 37% during this period, while the share with no particular.

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Housing Market Decoded: Low interest rates were a blessing and a curse

Real Estate News

Buyers might long for pandemic-era mortgage rates, but economist Matthew Gardner cautions that the "bad & the ugly" impacts outweighed the good ones.

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Opinion: tools for landlords to help low-income tenants

Housing Wire

The federal Housing Choice Voucher (HCV) program is a powerful tool to help low-income families find apartments they can afford, but the program isn’t reaching its potential because far too few landlords participate in it. Landlords who refuse to participate cite several reasons, including what they regard as undue regulatory burdens and concerns about tenant “quality.

Landlords 403
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Pam Liebman: Corcoran’s 50th year, taking the high road and more

Inman

In advance of the brokerage's second annual BeCorcoran event, the president and CEO spoke with Inman about her thoughts on Corcoran's past, present and future and how the brokerage is meeting a shifting market head-on.

Brokerage 153
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Personal Income Rises 0.3% in March

Eyes on Housing

The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.3% in March. The pace of personal income growth slowed after reaching a 0.8% monthly gain in October. Gains in personal income are largely driven by increases in compensation, personal income receipts on assets, and rental income. Real disposable income, income remaining after.

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Sherry Chris steps down as leader of BHGRE and ERA

Real Estate News

Sherry Chris, president and CEO of the Anywhere Expansion Brands portfolio, is retiring from brand leadership and will transition to an advisory role.

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FHFA Director Thompson speaks out to correct LLPA misinformation

Housing Wire

Federal Housing Finance Agency (FHFA) Director Sandra Thompson issued a statement Tuesday to correct the misinformation that’s spread about the agency’s loan-level pricing adjustments to conventional mortgages. On TikTok and other social media platforms, misstatements circulated last week that the regulator of Fannie Mae and Freddie Mac had made mortgage fees cheaper for low-credit borrowers than good-credit borrowers, among other claims. “Higher-credit-score borrowers are not

Mortgage 388
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Meet the boomerang agents returning to their old brokerages

Inman

As the battle for agent count stalls amid a slow market, firms such as Compass are seeing former agents, lured away by promises of better tech and more opportunities, come back into the fold.

Agents 151
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Housing Share of GDP Lower in the First Quarter of 2023

Eyes on Housing

Housing’s share of the economy moved lower at the end of the first quarter of 2023. Overall GDP increased at a 1.1% annual rate, following a 2.6% increase in the fourth quarter of 2022 and 3.2% increase in the third quarter of 2022. Despite overall GDP increasing, housing’s share of GDP decreased to 15.8%, below the 2022 fourth quarter share.

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