2020

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The 2021 housing market will be stronger than 2020

Housing Wire

Jeff Tucker Zillow Senior Economist. This is the fourth installment of our economist Q&A series, as we work to answer the top 2021 housing market questions. Every Tuesday in December, HousingWire interviewed a top economist in the HW+ Slack channel.

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TRD Quick Question: Jonathan Miller "What's Happening in the NYC Real Estate Market?"

Miller Samuel

I recently completed a quick interview with Stuart Elliott , Editor In Chief & CEO at The Real Deal who asked me questions with a uniquely mellow intensity. The Real Deal is required reading for anyone in the real estate profession or interested in real estate.

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What to expect from the 2021 housing market

Housing Wire

Although I had pockets of joy in 2020, these moments were subsumed in a haze of stress, uncertainty and fear for our country. And, at times, I have found it difficult to keep these emotions from clouding my economic thinking.

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Don’t expect home sales to slow down in 2021

Housing Wire

Real estate agents across the U.S. have been busy as a result of the pent-up demand from homebuyers due to COVID-19.

Inventory 428
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Existing home sales are still too hot

Housing Wire

In recent articles, I have written that although current sales data for the U.S. housing market has outperformed expectations, I expected these upward trends to moderate.

Buyers 428
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Mortgage rates hit another record low at 2.67%

Housing Wire

The average U.S. mortgage rate for a 30-year fixed loan fell four basis point this week to 2.67% – the lowest rate in the Freddie Mac ’s Primary Mortgage Market Survey’s near 50-year history. This week’s mortgage rate broke the previous record set on Dec.

Mortgage 429

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How record-low mortgage rates changed everything in 2020

Housing Wire

While the United States may not have been prepared to combat a deadly virus, a quick and robust response from the Federal Reserve , along with changing consumer preferences, created a perfect storm that resulted in a record year for the housing and mortgage industries.

Mortgage 428
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Housing 2020 recap: Demographics popped the housing bubble boys

Housing Wire

What a crazy year we have all been through. Last year, I visited Japan, London, Puerto Rico, Oregon and Las Vegas twice. This year I had fewer visits than that to my local barber and I was ecstatic to be there. This was the year we relearned to appreciate small things.

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Housing market outlook for 2021…and beyond

Housing Wire

2020 was a truly unprecedented year. With it behind us, let’s look ahead at several housing market trends that are likely in 2021 and beyond. First, exceptionally low mortgage rates are likely to be around for an extended period.

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Even with low inventory, expect a strong 2021 housing market

Housing Wire

Even prior to the pandemic , housing inventory had hit record lows, and the problem has only gotten worse as demand continues to rise.

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Record low mortgage rates hold steady at 2.72%

Housing Wire

The average U.S. mortgage rate for a 30-year fixed loan remained unchanged at 2.72% this week, Freddie Mac said in a report on Thursday – the second week in a row rates have sat at the lowest recorded level in the survey’s near 50-year history.

Mortgage 428
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THE CON Episode 1 Debuted This Week And It Was Compelling Because Good Appraisers Lived That Hell Too

Miller Samuel

Although I've shared the following CNBC clip before, it's worth showing again given my 15-year ago hairstyle.

Law 260
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These markets are attracting the most out-of-state real estate investors

Housing Wire

The pandemic has shifted the pecking order of the real estate industry’s location-location-location axiom for many homebuyers — high-cost and high-density urban is out, while suburban is back in vogue and rural is experiencing a bit of a revival.

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Fannie Mae, Freddie Mac conforming loan limits increase for 2021

Housing Wire

The Federal Housing Finance Agency announced new conforming loan limits for Fannie Mae and Freddie Mac for 2021: $548,250. This is a 7.5% increase from 2020’s limit of $510,400 and marks the fifth consecutive year of increases from the FHFA.

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Mortgage rates break record again, down to 2.72%

Housing Wire

The average U.S. mortgage rate for a 30-year fixed loan fell this week to 2.72%, Freddie Mac said in a report on Thursday – the lowest rate in the survey’s near 50-year history. This week’s rate broke the previous record set on Nov. 5 by 6 basis points.

Mortgage 429
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DOJ sues NAR for alleged antitrust violations

Housing Wire

The Department of Justice (DOJ) filed a lawsuit against the National Association of Realtors (NAR) on Thursday, alleging a series of violations of antitrust law, including commission arrangements and consumer disclosure requirements.

Buyers 428
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What the surge in COVID cases means for the housing market this winter

Housing Wire

With COVID infection rates exploding and hospitalization rates rising as we go into the cold winter months, the risk this poses to our recovering housing market is a question that should be addressed.

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The housing market is hot, but not in a bubble

Housing Wire

Existing home sales came in at a whopping 6,850,000 , beating estimates with the highest print since 2006. Days on market fell from 36 days to 21 days on a year-over-year basis. Cash buyers remain at a historically high level of 19%, the same as last year, while sales grew 26.6% year over year.

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Top five questions to ask a potential real estate agent

Housing Wire

In today’s red-hot market, you need a real estate agent who can get creative, play hardball in negotiations, and help you stand out from the pack in a bidding war. And not everyone — even an agent recommended to you by a friend or loved one — is up to the task.

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Existing home sales increase for the fifth month in a row

Housing Wire

Existing home sales grew for the fifth consecutive month in October, up 4.3% from September to a seasonally adjusted annual rate of 6.85 million, according to a report from the National Association of Realtors on Thursday. Compared to last October, sales are up 26.6%.

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Beware of gloom and doom housing market crash headlines

Housing Wire

With Halloween now in the rearview mirror, we still have one more spook to survive in 2020 – and no, I’m not talking about the upcoming election. I’m talking about housing market crash headlines. The housing data has been wild this year.

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U.S. home prices hit 14-year high in October

Housing Wire

The S&P CoreLogic Case-Shiller index covering home prices of all nine U.S. census divisions, reported an 8.4% increase in October from a year ago, and a 7% increase from September. The National Index is now up 24.5% from its former high in July 2006.

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Real estate appraisers are an essential business and here to protect the public trust

Miller Samuel

I hope all my readers (and everyone else) are staying safe and healthy during this crisis - now let's get to business.

Business 250
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The housing market faced uncertainty in March, but now ‘it’s a circus’

Housing Wire

The housing market faced a lot of uncertainty when COVID-19 caused the real estate industry to pause under shut-downs, but low interest rates and the desire for more space has turned this year into a boom time for real estate agents.

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Is 2021 a good time to buy a house?

Housing Wire

This year’s housing market has been plagued with low inventory, rising home prices, and endless bidding wars, making it hard for some would-be homeowners to get their foot in the door. Will 2021 be any different? Or, will it be a good time to buy a home?

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Luxury home sales rise 41.5%, making biggest jump since 2013

Housing Wire

In the largest increase since 2013, luxury home sales rose 41.5% in the third quarter, according to a new report from Redfin. While sales in this segment of the housing market have skyrocketed, the sales of medium-priced homes went up only 3% and sales of affordable homes actually declined by 4.2%.

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Redfin faces lawsuit claiming it favors white neighborhoods

Housing Wire

The National Fair Housing Alliance and nine other housing organizations filed a lawsuit against Redfin on Wednesday, accusing the online brokerage of racial discrimination and favoritism toward predominately white neighborhoods.

Brokerage 428
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Holy smokes — new home sales are up 32.1% year over year

Housing Wire

The one economic sector that has blown away my estimates this year has been the new home sales market. I predicted peak year-to-date growth of 4.7% but this was before COVID-19, which temporarily crushed bond yields and mortgage rates.

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The forbearance crash bros spoke too soon

Housing Wire

The health and economic crisis has made 2020 a horrific year for many Americans. Added to all that misery we had terrible fires in the West and hurricanes in the East. From my perspective, that ball in Times Square can’t drop fast enough hailing the end of this year.

Inventory 428
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No seasonal slowdown this year as real estate agents report a busier-than-usual fall

Housing Wire

Realtors can usually count on their biggest season being spring, followed by summer, but nothing about 2020 has been normal, including home-buying patterns. With shut-down orders in the spring, summer became the new home-buying season, but homebuyers were still incredibly active in August.

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Home prices post record two-month gain, FHFA says

Housing Wire

Home prices jumped more than 2% between May and July, the largest two-month gain on record, as Americans emerging from COVID-19 lockdowns bought real estate, the Federal Housing Finance Agency said in a Wednesday report.

Buyers 428
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Sales of existing homes surge to a 14-year high

Housing Wire

Sales of existing homes rose to a 14-year high of 6 million in August, the National Association of Realtors said in a report on Tuesday. Combined sales of single-family houses, townhomes, condominiums and cooperatively owned apartments rose 2.4% from July, according to the report.

Realtors 428
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Pandemic drives more interest in real estate careers

Housing Wire

For Victoria Murphy, a RE/MAX agent in Oahu, Hawaii, getting her Realtor license was always a part of her plan. But shut-down orders in March helped push the college student to get it done.

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Quid Pro Quo: The Right Candidate Got Elected And Corrupt Leadership Got To Keep Their Sham Election Maneuver

Miller Samuel

Yesterday's AI Public Airing Of The Sham Election Process was a dark day for the institution but a bright day for the good guys. The actual selection of Craig Steinley after he won the national nominating committees' endorsement took literally thousands of members to apply pressure to the BoD.

Law 242