Housing Wire

JULY 29, 2021

Though the desire for buyers to purchase a new home remains strong, skyrocketing prices are putting the dream out of reach for some buyers, economists in the housing industry said. An index of 100 is equal to the average level of contract activity during 2001, the first year examined. on the index in June, an 8.7% in 2022.

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Marketing Buyers Realtors Real Estate 468

Housing Wire

OCTOBER 28, 2022

An index of 100 is equal to the level of contract activity in 2001. The Federal Reserve has had to drastically raise interest rates to quell inflation, which has resulted in far fewer buyers and even fewer sellers.”. Only when inflation is tamed will mortgage rates retreat and boost home purchasing power for buyers.”.

Contracts 528

Contracts New Listings Realtors Housing Market 528

Housing Wire

AUGUST 29, 2024

Anything above 100 is considered to have a higher level of activity relative to 2001. ” In addition to the election, there are a number of reasons why buyers might be hesitant to jump back into the market. .” With the Federal Reserve almost certain to cut rates in September, buyers might do well to wait a couple months.

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Buyers Realtors Inventory Sellers 459

Housing Wire

JANUARY 3, 2023

An index of 100 is equal to the level of contract activity in 2001. Pending-home sales in November reflect a freeze in the housing market, as buyers remain on the sideline and sellers are staying put,” Odeta Kushi, First American’s deputy chief economist, said in a statement.

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Contracts Housing Market Realtors Construction 511

Appraisal Buzz

JUNE 27, 2024

The level of contract activity in 2001 is represented by an index of 100. month-over-month, not just falling below forecasters’ hopes but hitting an all-time low since the NAR began collecting this data in 2001,” said Kate Wood, Home & Mortgage Expert at NerdWallet. “A Pending transactions were down 6.6% from the previous year.

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Contracts Inventory Buyers Mortgage 418

Housing Wire

NOVEMBER 30, 2023

Pending home sales in October fell to their lowest level since 2001. It dropped on an annual basis for the sixth consecutive month NAR chief economist Lawrence Yun is optimistic that declining mortgage rates will help qualify more home buyers in the months ahead, but limited housing inventory will remain the sticking point.

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Housing Market Inventory Realtors Construction 497

Housing Wire

SEPTEMBER 28, 2023

An index of 100 is equal to the level of contract activity in 2001. Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers,” Lawrence Yun, NAR chief economist said. Buyers are hitting affordability ceilings, causing some of them to sit out the market.

Housing Market 497

Housing Market Contracts Government Buyers 497

Housing Wire

MARCH 31, 2021

An index of 100 is equivalent to the level of pending sales in 2001. Potential buyers may have to enlarge their geographic search areas, given the current tight market,” Yun said. “If “We need these two things in order for buyers to have more choices and more reasonable price growth. and West (96.9) respectively.

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Inventory Contracts Housing Market Buyers 511

Housing Wire

FEBRUARY 29, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. ” Lower mortgage rates buoyed buyer demand in early 2024, but rates started to inch back up toward 7% in February. NAR’s Pending Home Sales Index (PHSI) decreased to 74.3 in January, down from 77.3 in December.

Contracts 459

Contracts Inventory New Listings Realtors 459

Appraisal Buzz

DECEMBER 30, 2024

Despite higher mortgage rates in November and persistent affordability challengers, buyers took advantage of more inventory as pending home sales reached the highest level in nearly two years, said First American Deputy Chief Economist Odeta Kushi. A PHSI reading of 100 is equal to the level of contract activity in 2001. in November.

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Contracts Inventory Buyers Sellers 435

Appraisal Buzz

AUGUST 30, 2024

in July, the lowest level since the index’s inception in 2001. The level of contract activity in 2001 is represented by an index of 100. “A Current lower, falling mortgage rates will no doubt bring buyers into market.” Pending transactions decreased by 8.5% over the previous year.

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Contracts Realtors Inventory Buyers 312

Housing Wire

JANUARY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. “We Interested buyers are out there. “This recent low point in home sales activity is likely over,” Lawrence Yun, NAR’s chief economist, said in a statement. Despite the monthly increase, pending home sales are down 33.8% compared to December 2021.

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Contracts Realtors Mortgage Buyers 448

Housing Wire

NOVEMBER 19, 2024

When it comes down to it, the supply and demand model works and new home sales currently today are still below levels we saw during the tech recession in 2001. According to the data, we know that builders have the potential to boost sales by offering lower rates to attract buyers. However, rates have since increased again.

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Construction Mortgage Development Buyers 539

Housing Wire

AUGUST 30, 2023

An index of 100 is equal to the level of contract activity in 2001. “Jobs are being added and, thereby, enlarging the pool of prospective home buyers. Buyers are being forced to lengthen their home search since there are so few properties available for sale,” she said.

Inventory 448

Inventory Contracts Buyers Realtors 448

Appraisal Buzz

OCTOBER 30, 2024

The amount of contract activity in 2001 is represented by an index of 100. Jones explained that pending home sales, also known as contract signings, measure the first official stage of a home sale transaction—when a buyer and seller have reached an agreement on terms and price. September saw a 7.4% the highest level since March (78.3).

Contracts 418

Contracts Buyers Inventory Mortgage 418

Housing Wire

OCTOBER 28, 2021

An index level of 100 is equal to the level of contract activity in 2001. Yun expects inventory levels to pick up again in 2022 and that buyers who have temporarily paused their search will return to the market in the new year. After rising 8% in August, pending home sales dropped 2.3% The index dropped to 116.7

Inventory 448

Inventory Renovations Contracts Buyers 448

Housing Wire

NOVEMBER 27, 2024

The PHSI is benchmarked at 100 in 2001. Higher mortgage rates mean that some buyers might decide to wait until 2025.” The latest signal comes from the National Association of Realtors ‘ (NAR) Pending Home Sales Index (PHSI), which shows sales in October growing 5.4% year over year and 2% compared to September. million.

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Marketing Realtors Housing Market Lending 370

Appraisal Buzz

JULY 31, 2024

Multiple offers are less intense, and buyers are in a more favorable position.” The level of contract activity in 2001 is represented by an index of 100. Contract signings were still down annually, however, as buyers held off in hopes of lower mortgage rates in the coming months. Pending transactions decreased 2.6%

Contracts 397

Contracts Inventory Buyers Housing Market 397

Appraisal Buzz

NOVEMBER 27, 2024

An index of 100 is equal to the level of contract activity in 2001. While increased inventory provides buyers with more options, the reality remains–you can’t buy what you can’t afford.” The record-high stock market is providing a boost for upper-end home buyers.” in October. Year-over-year, pending transactions jumped 5.4%.

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Contracts Inventory Mortgage Buyers 418

Housing Wire

FEBRUARY 27, 2023

Buyers responded to better affordability from falling mortgage rates in December and January,” Lawrence Yun, NAR’s chief economist, said in a statement. An index of 100 is equal to the level of contract activity in 2001. For some buyers, higher mortgage rates simply means buying a home is out of the question unless home prices fall.

Housing Market 459

Housing Market Realtors Contracts Buyers 459

Housing Wire

JANUARY 26, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. Looking ahead Confronted with limited existing home inventory, many buyers have pivoted to newly constructed homes. NAR’s Pending Home Sales Index (PHSI) increased to 77.3 in December, up from 71.6 in November. year over year.

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Contracts Housing Market Construction Inventory 482

Housing Wire

NOVEMBER 30, 2022

An index of 100 is equal to the level of contract activity in 2001. October was a difficult month for home buyers as they faced 20-year-high mortgage rates,” Lawrence Yun, NAR’s chief economist, said in a statement. Year over year, the PHSI was down 37.0%, marking the 17 th consecutive month of annual declines.

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Realtors Contracts Buyers Mortgage 397

Housing Wire

APRIL 2, 2021

“The prime-age labor force participation rate fell in the aftermath of the Great Recession and it took a decade to return to the pre-Great Recession average (2001-2007) of 83%,” Kushi said. The lack of available homes on the market is taking a toll on the marginal buyer who is feeling an affordability squeeze.

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Inventory Construction Housing Market Business 514

Housing Wire

JUNE 29, 2023

An index of 100 is equal to the level of contract activity in 2001. The spring market will extend into summer as buyers face limited choices and are waiting for mortgage rates to come down. Year over year, pending home sales were down 22.2%, a larger decrease than the 20.3% annual drop recorded in April.

Contracts 370

Contracts Inventory Housing Market Realtors 370

Appraisal Buzz

SEPTEMBER 26, 2024

A PHSI reading of 100 is equal to the level of contract activity in 2001. “A Potential August buyers were dealing with the same old story—high prices, low inventory—but had other reasons to hold off, too. It’s also possible that the uncertain atmosphere of the Presidential election is adding to buyers’ hesitation.” a drop of 2.2%

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Contracts Buyers Mortgage Realtors 359

Housing Wire

SEPTEMBER 21, 2023

Until interest rates come down, affordability challenges will continue to put first-time buyers on the sidelines, housing industry observers said. In an elevated rate environment, the lack of inventory continues to be the biggest challenge for many potential buyers, the Mortgage Bankers Association said. in 2024, up from the 4.6%

Real Estate 448

Real Estate Mortgage Buyers Inventory 448

Housing Wire

AUGUST 24, 2023

This week, the 30-year fixed-rate mortgage reached its highest level since 2001 and indications of ongoing economic strength will likely continue to keep upward pressure on rates in the short-term,” said Sam Khater, Freddie Mac’s chief economist. In July, 26% of existing homes sold to cash buyers while 7% of new homes sold to cash buyers.

Mortgage 370

Mortgage Property Taxes Investors Buyers 370

Housing Wire

AUGUST 10, 2023

Another rate hike in September would move the target federal funds rate to its highest level since March 2001. While sales of existing homes have been lagging, the challenge comes mainly from too many buyers chasing not enough available properties,” said Ratiu. since May of this year, the 4.2 since May of this year, the 4.2

Mortgage 370

Mortgage Real Estate Buyers Construction 370

Housing Wire

MAY 9, 2022

Fewer buyers rushed to lock mortgages last month amid a rapid climb in long-term mortgage rates , reflecting home affordability concerns, reports from Mortgage Capital Trading and Black Knight showed. . ” MCT, founded in 2001, launched its first monthly mortgage lock volume report on Monday.

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Mortgage Home Value Buyers Lending 370

Housing Wire

SEPTEMBER 7, 2022

It launched an interactive media platform as well in the fall of 2021, called Glocaly, which serves as a listing and marketing exchange for matching sellers and buyers of condos. Since our inception in 2001, we have delivered more than 1,000 single-family homes and 25 condominiums.

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Development Real Estate Luxury Properties Construction 397

Appraisal Buzz

SEPTEMBER 29, 2021

An index of 100 is equal to the level of contract activity in 2001. Rising inventory and moderating price conditions are bringing buyers back to the market,” says Lawrence Yun, NAR’s chief economist. Year-over-year, signings dipped 8.3%. Affordability, however, remains challenging as home price gains are roughly three.

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Contracts Realtors Inventory Buyers 195

Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. Given the ongoing job additions, any meaningful decline in mortgage rates could lead to a rush of buyers later in the year and into the next.” The NAR’s Pending Home Sales Index climbed to a reading of 76.8 NAR expects existing-home sales to decrease 12.9%

Construction 370

Construction Inventory Realtors Housing Market 370

Appraisal Buzz

AUGUST 29, 2024

As a result, the Pending Home Sales Index (PHSI) fell to a score of 70.2 – the lowest reading since the index began tracking in 2001. “A Current lower, falling mortgage rates will no doubt bring buyers into market.” One interesting trend we’ve noticed is that buyers are picking bigger houses. in the Northeast, 11.4%

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Contracts Buyers Realtors Inventory 221

Housing Wire

AUGUST 30, 2022

Total Inventory had been growing from 2001-2005; total listings data in 2005 was at the higher historical range of 2.5 NAR Total Listing Data: If we cut the timeline to the last time inventory grew, which was 2014, you can see this downtrend in inventory, unlike 2001-2005, when inventory grew from 2 million to 2.5 million listings.

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Inventory New Listings Law Housing Market 397

Appraisal Buzz

JULY 12, 2024

Nevertheless, compared to the history of the data (which dates back to 2001), 2023 saw the second-highest share of investor purchases. decline in non-investor property sales, even though the share of investor buyers fell by less than 1 percentage point. of buyers who weren’t investors in the same period.

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Investors Inventory Buyers Marketing 370

Housing Wire

NOVEMBER 29, 2021

An index of 100 is equal to the level of contract activity in 2001.” Remember, a seller is typically also a buyer, so inventory should fall when demand picks up and that seller finds another home to buy. in October. Year-over-year, signings fell 1.4%.

Inventory 532

Inventory Contracts Training Investors 532

Housing Wire

MAY 31, 2022

The company estimates there are about 3 million “aged properties” in the Chicago area alone, with almost 88% of them built before 2001. New Western, which specializes in distressed residential investment properties, aims to revitalize $543 million in residential properties in the Chicago market over the next five years.

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Mortgage Construction Lending Real Estate 397