Housing Wire

NOVEMBER 2, 2024

Home prices have remained firm over the last two months, even with higher mortgage rates and inventory data. Our weekly tracker data is created to look ahead of the traditional monthly reports such as Case Shiller and the NAR existing home sales report, and what I have seen over the past few weeks has shocked me. I want to show you how the data changed with mortgage rates heading toward 6% so the next time this happens, we have a better idea of what to expect in the housing market.

Inventory 516

Inventory New Listings Mortgage Contracts 516

Appraisal Buzz

NOVEMBER 6, 2024

A new report from the Mortgage Bankers Association’s (MBA) Research Institute for Housing America (RIHA) takes a closer look at the shifting demographics for older Americans over 50 and the impact on the nation’s housing supply. The report, authored by Gary V. Engelhardt , Professor of Economics in the Maxwell School of Citizenship and Public Affairs at Syracuse University, and Faculty Associate in the Syracuse University Aging Studies Institute, found that as older Americans continue to remain

Home Value 459

Home Value Buyers Mortgage Marketing 459

Real Estate News

NOVEMBER 6, 2024

Home listings on the Flyhomes search portal now show the breakdown of recent presidential and congressional voting trends in any given community.

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308

George Dell

NOVEMBER 5, 2024

A time adjustment is needed because all our sales data is historical. A sale price 6 months ago cannot be properly reflected in today’s dollars. Two parts. Two components. Two reasons: The value of the dollar has changed. The competing market price level has changed. Editor’s Note: This blog is part 3 on the Time […] The post Time for Time Adjustment?

Marketing 195

Marketing 195

Housing Wire

NOVEMBER 7, 2024

Climate change is increasing the intensity and severity of natural disasters. It’s resulting in calls to reimagine the costs of homeowners insurance (Image generated by AI in Midjourney) As the planet warms and extreme weather intensifies, the rising cost of homeowners insurance is stopping real estate deals in their tracks. In just the past two months, two major hurricanes battered Florida, inflicting physical and financial damage that is projected to exceed $100 billion.

Insurance 482

Insurance Supply Chain Real Estate Design 482

Appraisal Buzz

NOVEMBER 6, 2024

Ironically, California has one of the most expensive housing markets in the U.S. despite its year-round pleasant weather and thriving business. Residents are leaving at a startling rate due to skyrocketing real estate prices and rising living expenses. Arizona is rapidly overtaking Texas as the most popular place for Californians to relocate. In actuality, almost 630,000 Californians, or the population of Tucson, have relocated to Arizona in the last ten years.

Business 370

Business Real Estate Marketing Housing Market 370

Inman

NOVEMBER 7, 2024

The San Francisco-based iBuyer bought and sold more homes during Q3 than it did a year ago and trimmed its net loss by 14 percent from Q2 and 26 percent from a year ago.

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Housing Wire

NOVEMBER 5, 2024

The COVID-19 pandemic impacted the housing market like no event since the 2008 financial crisis, but some of the trends induced by the pandemic are starting to reverse. That’s evident in the annual profile of home buyers and sellers from the National Association of Realtors (NAR), which provides data on dozens of real estate trends. When the pandemic began in the spring of 2020, wealthy residents of urban centers like New York City and San Francisco packed their bags for rural areas and small to

Realtors 468

Realtors Housing Market Construction Real Estate 468

Appraisal Buzz

NOVEMBER 5, 2024

The CoreLogic has released the Home Price Index (HPI) and HPI Forecast for September 2024. In September, the annual growth rate of U.S. home prices slowed to 3.4%. After months of moderate monthly losses, property prices recovered to register a very minor rise (0.02%) when compared to the previous month. All things considered, since late summer, home prices have remained largely unchanged.

Housing Market 418

Housing Market Mortgage Buyers Appraisal 418

Real Estate News

NOVEMBER 6, 2024

Growth across all major divisions, which the company attributed to strong conversions and agent partnerships, produced double-digit gains in the third quarter.

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Agents 277

Inman

NOVEMBER 4, 2024

The share of recently bought homes that went to first-time homebuyers fell to less than 1 in 4 between July 2023 and June 2024, according to a new report.

Brokerage 171

Brokerage Agents Marketing 171

Housing Wire

NOVEMBER 5, 2024

In efforts to escape “sky-high real estate prices” and rising costs of living, California residents are favoring Arizona as a top relocation destination behind only Texas. That’s according to a report released Monday by StorageCafe , a national marketplace for storage space and an affiliate of real estate data provider Yardi. The report reviewed U.S.

Real Estate 418

Real Estate Technology Business Housing Market 418

Appraisal Buzz

NOVEMBER 6, 2024

According to a recent Zillow poll, nearly half of recent homebuyers who obtained a mortgage did so at a rate lower than 5%. Even though mortgage rates are currently close to 7%, many purchasers who bought a home within the last year used unconventional thinking to become homeowners. By the fall of 2023, mortgage rates had risen from historic lows of 2.65% in 2021 to a decade-high of 7.79%.

Buyers 370

Buyers Marketing Sellers Loan Officers 370

Real Estate News

NOVEMBER 6, 2024

In the short term, expect "rising and more unpredictable mortgage rates." But the Fed will likely stay the course and issue a modest rate cut this week.

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Mortgage 272

Inman

NOVEMBER 7, 2024

At NAR NXT, panelists Marilyn Wilson, James Dwiggins and Clint Skutchan advised MLSs to make themselves essential without guaranteeing compensation.

Realtors 167

Realtors 167

Housing Wire

NOVEMBER 5, 2024

The role of the real estate agent has been under the microscope of late as a result of class-action litigation over agent commissions, but the feedback agents want most about their practices comes from two sources — home buyers and sellers. A new report from the National Association of Realtors (NAR) surveyed buyers and sellers on what they want from their real estate agents.

Real Estate Agent 435

Real Estate Agent Real Estate Sellers Agents 435

Appraisal Buzz

NOVEMBER 5, 2024

U.S. home prices increased 0.2% in September compared with October and were up 3.4% compared with September 2023, according to CoreLogic. It was the slowest growth rate for home prices nationally in over a year, CoreLogic says in its latest home price index report. Currently, the firm is predicting that home price growth will slow to 2.3% by the same time next year.

Housing Market 395

Housing Market Mortgage Buyers Appraisal 395

Real Estate News

NOVEMBER 6, 2024

HUD and FHFA executives spoke recently about ways the federal government should get more involved in issues like zoning, mortgages, insurance and appraisals.

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Insurance Government Appraisal Mortgage 264

Inman

NOVEMBER 7, 2024

The Real Brokerage added more than 2,000 new agents in the third quarter while revenue rose to $372.5 million, according to quarterly earnings Thursday. The company posted a net loss of $2.5 million.

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Brokerage Agents 167

Housing Wire

NOVEMBER 8, 2024

Realtors are not the only ones gathering in Boston this week for the National Association of Realtors ‘ NXT conference. On Thursday, MLS leaders took center stage at several conference sessions, including discussions of the business practice changes driven by the NAR commission lawsuit settlement and how the role of the MLS — and the MLS-broker relationship — has evolved as a result.

Real Estate 418

Real Estate Agents Business Realtors 418

Appraisal Buzz

NOVEMBER 8, 2024

In its latest Lending Intelligence Report, J.D. Power examines artificial intelligence and its emergence in the mortgage marketplace. In the report “ With AI-Powered Chatbots Coming to Customer Service, Are Mortgage Customers Ready? ” three-fourths of business leaders said they were planning to escalate their AI investments as they continue to see positive strides in customer service functionality.

Mortgage 389

Mortgage Investing Technology Training 389

Real Estate News

NOVEMBER 4, 2024

NAR’s annual profile of homebuyers, which includes several new records, illustrates just how hard of a market it’s been for would-be homeowners.

Buyers 265

Buyers Marketing 265

Inman

NOVEMBER 7, 2024

Eva Angelina Romero, a top real estate broker, shares her insights on life, success and building a business you are passionate about.

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Real Estate Business Brokerage 166

Housing Wire

NOVEMBER 7, 2024

Home prices continue to rise, but they’re rising in slightly fewer areas of the country. Data released Thursday by the National Association of Realtors (NAR) shows that during the third quarter of 2024, home prices grew in 87% of the 226 metropolitan areas analyzed. That share is down from 89% in the second quarter. In addition, 7% of metro areas analyzed experienced double-digit home-price growth, which is down from 13% in Q2 2024.

Realtors 418

Realtors Marketing Mortgage Housing Market 418

Appraisal Buzz

NOVEMBER 4, 2024

According to the National Association of Realtors ‘ (NAR) 2024 Profile of Home Buyers and Sellers, the market share of first-time homebuyers fell to a historic low of 24% (down from 32% last year), while the average age of home buyers reached all-time highs of 56 years (compared to 49 last year), 38 years for first-time buyers (compared to 35 last year), and 61 years for repeat buyers (compared to 58 last year).

Real Estate Agent 370

Real Estate Agent Buyers Sellers Real Estate 370

Real Estate News

NOVEMBER 2, 2024

A lot has happened — leadership changes, settlements, new rules — but some say it's still too early to know how the landmark verdict will affect the industry.

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Inman

NOVEMBER 7, 2024

Home affordability improved as mortgage rates dipped, bringing the monthly mortgage payment on a typical single-family home with a 20 percent down payment to $2,137 — a 5.5 percent decrease from Q2, though still up 2.4 percent year over year.

Mortgage 160

Mortgage Realtors Marketing 160

Housing Wire

NOVEMBER 6, 2024

The trend of innovative software solutions and artificial intelligence (AI) tools continue as the real estate industry competes for speed and efficiency. New England -based MLS Property Information Network (MLS PIN) is following these footsteps with its latest partnership. MLS PIN announced a partnership with Restb.ai on Monday to bring advanced AI features to its web-based Pinergy MLS system.

Real Estate 393

Real Estate Valuation Review Tools Technology 393

Appraisal Buzz

NOVEMBER 8, 2024

The third-quarter 2024 study from ATTOM examines eligible low-income Opportunity Zones that Congress designated for economic revitalization under the 2017 Tax Cuts and Jobs Act. In this analysis, ATTOM examined 3,857 U.S. zones that had at least five home sales in the third quarter of 2024 and had enough data to analyze. According to the analysis, in 53% of Opportunity Zones nationwide with sufficient data to measure, median prices for single-family homes and condos rose between the second and t

Housing Market 369

Housing Market Marketing Design Home Value 369

Real Estate News

NOVEMBER 8, 2024

An aging seller pool reflects a trend also seen among buyers — but sellers have retained the upper hand, rarely reducing prices or offering incentives.

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Sellers Buyers 246

Inman

NOVEMBER 5, 2024

Trade group says plaintiffs' complaint over "compulsory" Realtor membership to access the MLS is "nothing more than a desire to have membership benefits without membership.

Realtors 165

Realtors Brokerage 165

Housing Wire

NOVEMBER 5, 2024

As the cost of buying a home has risen faster than the cost of renting for the past four quarters, it’s no surprise that renter households are witnessing more growth than their owner-occupied counterparts. The surge in renter households is outpacing the growth of homeowners in the U.S., as there are now a record 45.6 million renters. That was up 2.7% year over year, according to a new Redfin report.

Construction 418

Construction Housing Market Finance Marketing 418

Appraisal Buzz

NOVEMBER 6, 2024

There will be no excess supply of homes to the markets from older Americans moving or dying over the next decade, a research report from the Mortgage Bankers Association’s (MBA) Research Institute for Housing America (RIHA) finds. Any net gain in housing supply from Baby Boomer homeowners passing away over the next decade will be offset by strong demand for housing in a supply-starved market.

Buyers 395

Buyers Appraisal Marketing Mortgage 395

Real Estate News

NOVEMBER 7, 2024

Despite a 25-point cut by the central bank, rates rose for a sixth straight week while applications fell sharply.

Mortgage 246

Mortgage 246