Housing Wire

MAY 8, 2024

After 2010, qualified mortgage laws were in place, meaning everyone getting a mortgage has to be able to repay the loan. You can see the drastic change this made in the Mortgage Bankers Association Credit Availability index , below, which skyrocketed in 2005 and 2006 before an epic collapse in 2008.

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Inventory Law New Listings Sellers 508

Housing Wire

APRIL 20, 2024

Housing inventory finally hit my target level of growth last week with mortgage rates now over 7.25% , something I couldn’t get all last year. Of course, what is different this year versus last year is that new listing data is growing yearly instead of trending at the lowest levels recorded in history. 2022: 18.7%

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Inventory New Listings Mortgage Finance 504

Housing Wire

APRIL 18, 2024

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. From NAR : The median existing home price for all housing types in March was $393,500, an increase of 4.8% All four U.S.

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Inventory Housing Market New Listings Buyers 491

Housing Wire

MAY 30, 2023

Low inventory , maintained by an extremely low level of new listings coming onto the market, has fueled demand amongst the few buyers who can afford to stay shopping. The average rate in March on a 30-year-fixed rate mortgage in March was 6.54%, with the rate dropping to 6.34% in April.

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Mortgage Inventory Construction New Listings 410

Housing Wire

APRIL 19, 2024

High-end buyers tend to be more immune to mortgage rate fluctuations and flock to the luxury housing market. A surge in new listings of luxury homes was not enough to curb the price growth associated with rising demand. New listings of luxury homes soared 18.5% During the three months ending Feb.

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Luxury Properties New Listings Buyers Housing Market 466

Housing Wire

AUGUST 20, 2023

Last week, mortgage rates hit a 21st-century high, the 10-year yield closed slightly higher than my peak forecast for 2023 , and housing inventory growth was still slow. Weekly active listings rose by only 4,401. Mortgage rates went from 7.19%% to 7.37%. Purchase apps were flat week to week. If we start from Nov.

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Inventory Mortgage New Listings Sellers 370

Housing Wire

NOVEMBER 28, 2023

house prices rallied again in the third quarter of 2023. year over year in Q3, according to the Federal Housing Finance Agency (FHFA) House Price Index. Simultaneously, new listing volume is up at the end of November, which might further cool home prices. In fact, home prices rose 2.1% in September.

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Inventory New Listings Finance Buyers 473

Housing Wire

JULY 28, 2023

High mortgages and stubbornly elevated home prices are worsening the housing affordability crisis. starter” home, up 13% from a year ago, according to a new report from Redfin. Average mortgage rates hit 6.7% The cost of financing a median-priced U.S. The cost of financing a median-priced U.S.

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Buyers Housing Market Investors Real Estate 370

Housing Wire

MAY 23, 2024

The pricing surge comes despite a marginal dip in weekly average mortgage rates , which fell from a five-month high of 7.22% to 7.02% at the beginning of May, according to Freddie Mac. Consequently, the median monthly housing payment now stands at $2,854, just $20 short of April’s all-time high. The median U.S.

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Housing Wire

FEBRUARY 23, 2024

Existing home sales showed a jump in sales, which was anticipated by most as we had positive, forward-looking housing data due to mortgage rates falling from 8.03% to 6.63%. This is nothing dramatic, but similar to what we saw in 2023 when mortgage rates rose from 5.99% up to 7.25%. From NAR : Total existing-home elevated 3.1%

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Inventory Mortgage New Listings Marketing 473

Housing Wire

MARCH 15, 2024

Prospective homebuyers have more options to choose from in the housing market, which could help spur sales this spring. Mortgage demand has been on the rise for two weeks in a row. New listings ticked up by 21% in February compared to last year, according to Zillow ’s February report.

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New Listings Inventory Home Value Contracts 473

Housing Wire

NOVEMBER 21, 2023

Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. Multiple offers, however, are still occurring, especially on starter and mid-priced homes, even as price concessions are happening in the upper end of the market.”

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Inventory Realtors New Listings Contracts 410

Housing Wire

NOVEMBER 28, 2023

In September, existing home sales fell, while pending home sales and new home sales rose compared to the previous month. Mortgage rates climbed over the period, reaching 7.3% Simultaneously, new listing volume is up at the end of November, which might cool home prices down. by the end of September.

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New Listings Contracts Inventory Sellers 418

Housing Wire

FEBRUARY 7, 2024

With mortgage rates briefly topping 8% and home prices breaking records throughout the year, many would-be sellers simply decided not to bother listing their homes, exacerbating already tight inventories. New data from the U.S. Mortgage rates followed suit, walloping buyers’ purchasing power.

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Inventory Sellers Mortgage Marketing 432

Housing Wire

DECEMBER 4, 2023

Now that Thanksgiving is behind us and December is well under way, we can start looking ahead to the 2024 housing market. New listings and home sales remain low this week while available inventory of unsold homes is finally falling across the country after rising with mortgage rates late into November.

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Housing Market Marketing Inventory New Listings 491

Housing Wire

MAY 22, 2024

So, unless mortgage rates drop fast and demand picks up, inventory should have an average year of growth before the seasonal decline. This growth is a positive housing story in 2024, something I talked about on Yahoo Finance this morning. We have had two times recently when mortgage rates dropped more than 1%.

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Inventory New Listings Housing Market Contracts 450

Housing Wire

APRIL 16, 2024

Mortgage rates posted a big jump last week after Wednesday’s release of a higher-than-expected inflation report. As a result, HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.24% on Tuesday, up from 7.16% one week earlier. We saw a bounce in demand early in the year as rates fell.

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Mortgage New Listings Investors Housing Market 429

Housing Wire

JANUARY 22, 2024

Holle’s business was down about 10% in 2023 compared to 2022, which she attributes almost exclusively to elevated mortgage rates. In 2024, she is optimistic that sellers will sell and more buyers will come to the market, as there is a big pent-up demand.

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Housing Wire

NOVEMBER 6, 2023

held up in 2023, sales volume in the housing market cratered. Consumers care about home prices and mortgage rates; the industry cares about transaction volume. The industry is in a deep housing recession this year. To get the weekly picture of the housing market, watch the video above. Housing inventory.

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Housing Market Marketing Inventory Contracts 508

Housing Wire

MARCH 8, 2024

Real estate agents in the leafy suburbs of Bergen County, New Jersey say the current housing market — with historically low inventory and record-high prices — is actually more challenging than the multiple offer chaos they sweated through during the pandemic. “At Altos considers any score above 30 to be a seller’s market.

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Housing Market Buyers Agents Marketing 441

Housing Wire

MARCH 1, 2024

We were up year over year in inventory , but we were at a 25 year low on new listings.” Since hitting a low point in January, Indiana’s Market Action Index score has been on the rise, hitting a 90-day average of 42.32 Both buyers and sellers are coming back to the market,” Fischer said. as of February 29, 2024.

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Housing Market Marketing Inventory Construction 441

Housing Wire

APRIL 13, 2024

Mortgage rates headed higher last week after the CPI inflation report , but now, with news of a wider war in the Middle East, should we expect even higher rates? Some argue that money will go into the safety of the bond market, while others say a wider war can lead to higher inflation and higher rates.

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Inventory Mortgage New Listings Retail 491

Housing Wire

MAY 13, 2024

Home sales continue to run just a little ahead of last year’s pace, but with mortgage rates in the 7s, there are a ton of potential homebuyers sitting on the sidelines. All in all, you can see how effectively 7% mortgage rates have slowed the housing market. Higher rates allow unsold homes to accumulate on the market.

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New Listings Contracts Inventory Sellers 484

Housing Wire

APRIL 25, 2024

“I called the listing agent and it was listed three hours ago, but it was sold,” the Cincinnati, Ohio -based eXp Realty agent said. “We There is no way you can stay on top of things unless you hire someone to watch new listings pop up every 10 minutes. We couldn’t even see it. It is so hard to compete with that.”

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Buyers Marketing Inventory Investors 431

Housing Wire

JUNE 28, 2023

Independent rehabbers, according to the report, are stepping in to address “scalability” challenges and fill the gaps in individual markets, driven by demand. Clearly, the survey shows that the housing dynamics have changed in the mind of some investors,” said Logan Mohtashami, Lead Analyst at HousingWire.

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Investors Housing Market Marketing Renovations 384

Cornerstone

FEBRUARY 15, 2022

When the pandemic first hit in early 2020, mortgage forbearance plans were announced, allowing homeowners in crisis to temporarily stop payments. There were analysts who expressed concern that once forbearance plans expired, the real estate market could see a foreclosure surge, similar to what followed the housing bubble 15 years prior.

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Loan Officers Housing Market Inventory Mortgage 59

Housing Wire

NOVEMBER 27, 2023

You also know that new listings are up over last year, too. Watch the video above to get the latest housing market update from Altos Research. Inventory (finally) peaks for the year Housing inventory was down by 0.7% Inventory hit 566,000 homes on the market, meaning there are 0.5% Short on time?

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New Listings Contracts Inventory Housing Market 496

Eppraisal

JUNE 20, 2023

Now that you've assessed your financial readiness, obtained a pre-approval for a mortgage, and engaged a real estate agent, it's time to dive into the exciting process of researching and finding your dream home. List your desired amenities (e.g., backyard, garage, etc.) Stay tuned!

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Real Estate Agent Open Houses Real Estate Inspection 36

Housing Wire

OCTOBER 31, 2023

We may be nearing the bottom in home sales even if mortgage rates don’t decline. As a result, there may be a light at the end of the tunnel in this crazy market cycle. At least, that’s what the data seems to suggest as inventory grows and new listings decline at a less aggressive rate than last year. Don’t have time?

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New Listings Inventory Contracts Housing Market 500

Housing Wire

MARCH 11, 2024

Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The only way inventory would grow in 2024 is if mortgage rates climbed. But the evidence is the opposite.

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Inventory New Listings Sellers Real Estate 508

Housing Wire

JUNE 6, 2023

All 12 Federal Reserve districts have seen issues with a lack of housing inventory , which is largely due to existing homeowners holding back on listing their homes after previously locking in low mortgage rates. Following are excerpts of statements on housing conditions from each of the 12 Federal Reserve districts.

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Inventory Real Estate Construction New Listings 432

D Fritz Appraisals

MAY 21, 2021

The Mortgage Stress Test will be increasing as of June 1, 2021. Under the new requirements set by the Office of the Superintendent of Financial Institutions (OSFI), uninsured mortgages will increase to a qualifying benchmark rate of 5.25%. The Mortgage Stress Test Rollercoaster. Why is the Mortgage Stress Test Increasing?

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Mortgage Real Estate Insurance Renovations 133

Housing Wire

OCTOBER 24, 2023

The short answer is that while homebuyer demand is indeed low, new supply remains very low, too. For home prices to adjust significantly, we need an imbalance of supply versus demand, and this market is surprisingly balanced. To get the weekly picture about the housing market, watch the video above. Don’t have time?

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Contracts Inventory New Listings Housing Market 466

Will Springer Realtor

MAY 9, 2023

Falling new inventory is constraining transaction volumes while also supporting higher home prices. It’s a dynamic not often seen in our area and it – along with stubbornly high mortgage interest rates – has generated a rollercoaster ride of data that would make Six Flags jealous. Where are all the sellers?

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New Listings Inventory Buyers Sellers 59

Housing Wire

SEPTEMBER 7, 2023

Mortgage rates peaked at 7.5% Rising mortgage rates mean rising inventory as home buyer demand slows quickly. Most years, available inventory of unsold homes on the market peaks in August. Last year at this time, mortgage rates began to spike dramatically from under 6% to 7.5% This year inventory is still climbing.

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Contracts Inventory Buyers New Listings 441

Will Springer Realtor

JANUARY 9, 2024

This should have sparked the fading embers of an otherwise chilly housing market in Seattle/King County in the final days of 2023. The 802 new listings in December was a low not seen since records were archived online from 1990. Mortgage Rates That holiday present from the Federal Reserve? Ho, ho, ho … and oh my!

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Housing Market Marketing Inventory Lending 61

Birmingham Appraisal

JUNE 1, 2022

If financing were not an issue, and the buyer couldn’t care less about how their contract price compared to other similar properties, it would just be a matter of connecting the buyer with the seller and signing on the dotted line, but life isn’t always so easy. Don’t Get Stuck In The Past.

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Agents Marketing Contracts Inventory 52