Housing Wire

JULY 21, 2022

Retail housing market data from June showing early signs of a real estate slowdown was foreshadowed three months earlier in buyer behavior at foreclosure auctions. The as-is market value is typically based on a drive-by broker price opinion or external-only appraisal given the properties are usually still occupied.

Housing Market 435

Housing Market Buyers Marketing Retail 435

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. .

Marketing 468

Marketing Buyers Realtors Real Estate 468

Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. Rates last month surged to 7.23%—the highest since 2001 – sending the typical homebuyer’s monthly payment up significantly from last year. That rate is up from 14.3% The median U.S. million in August, falling 1.1%

Buyers 448

Buyers Mortgage New Listings Real Estate 448

Housing Wire

JUNE 27, 2024

An index of 100 is equal to the level of contract activity in 2001. According to industry analysts, this is the lowest index reading recorded since NAR began collecting the data in 2001. With rates moderating in June, purchase mortgage applications indicate that rate-sensitive buyers are hesitantly responding.” The PHSI fell 2.1%

Inventory 501

Inventory Contracts Realtors Buyers 501

Housing Wire

JULY 31, 2024

A reading of 100 is equal to the level of contract activity in 2001. According to industry analysts, May’s index value was the lowest reading recorded since NAR began collecting the data in 2001. Multiple offers are less intense, and buyers are in a more favorable position,” Yun said in a statement.

Housing Market 468

Housing Market Contracts Inventory Realtors 468

Housing Wire

AUGUST 29, 2024

to the second lowest seasonally adjusted rate in the data’s history, topping only April of 2020 when the market was frozen by the pandemic. Anything above 100 is considered to have a higher level of activity relative to 2001. But we believe the market will turn.” On an annual basis, the index fell by 8.5% The index fell by 5.5%

Buyers 459

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.

Contracts 511

Contracts Housing Market Realtors Construction 511

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. Yun also expressed concern about a possible government shutdown, which could worsen the conditions in the housing market. “It

Housing Market 497

Housing Market Contracts Government Buyers 497

Housing Wire

OCTOBER 28, 2022

An index of 100 is equal to the level of contract activity in 2001. Persistent inflation has proven quite harmful to the housing market,” Lawrence Yun, NAR’s chief economist, said in a statement. Only when inflation is tamed will mortgage rates retreat and boost home purchasing power for buyers.”. All four major U.S.

Contracts 528

Contracts New Listings Realtors Housing Market 528

Housing Wire

NOVEMBER 30, 2023

Pending home sales in October fell to their lowest level since 2001. Historically high rates harmed the housing market in October Annualized existing home sales remained below 4 million in October, the lowest rate since 2010. In today’s tough housing market, the rental market is cooling off, giving some relief to homebuyers.

Housing Market 497

Housing Market Inventory Realtors Construction 497

Housing Wire

MARCH 31, 2021

After eight months of consecutive gains, the consequences of low inventory finally caught up with the housing market in February. An index of 100 is equivalent to the level of pending sales in 2001. A healthy housing market is considered roughly six months of supply. Tightened supply was largely responsible for a 10.6%

Inventory 511

Inventory Contracts Housing Market Buyers 511

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.

Contracts 435

Contracts Inventory Buyers Sellers 435

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.

Contracts 418

Contracts Inventory Buyers Mortgage 418

Housing Wire

FEBRUARY 29, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. The job market is solid, and the country’s total wealth reached a record high due to stock market and home price gains,” NAR chief economist Lawrence Yun said in a statement. “The from December’s annualized rate.

Contracts 459

Contracts Inventory New Listings Realtors 459

Housing Wire

JANUARY 27, 2023

Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.” An index of 100 is equal to the level of contract activity in 2001. “We Interested buyers are out there. Job gains will steadily become important in driving local home-sales markets.

Contracts 448

Contracts Realtors Mortgage Buyers 448

Housing Wire

OCTOBER 28, 2021

An index level of 100 is equal to the level of contract activity in 2001. Contract transactions slowed a bit in September and are showing signs of a calmer home price trend, as the market is running comfortably ahead of pre-pandemic activity,” Lawrence Yun, NAR’s chief economist, said in a statement. The index dropped to 116.7

Inventory 448

Inventory Renovations Contracts Buyers 448

Housing Wire

AUGUST 30, 2023

However, unlike the market for new homes , which has recovered convincingly above last year’s lows (+31.5%), pending home sales continue to lag behind year-ago levels (-14.0%). 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. .

Inventory 448

Inventory Contracts Buyers Realtors 448

Housing Wire

JANUARY 26, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. NAR’s Pending Home Sales Index (PHSI) increased to 77.3

Contracts 482

Contracts Housing Market Construction Inventory 482

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. Instead, expect a bumpy road on the way to a more normal housing market in 2023.” After posting a 2.5%

Housing Market 459

Housing Market Realtors Contracts Buyers 459

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.

Contracts 312

Contracts Realtors Inventory Buyers 312

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.

Inventory 514

Inventory Construction Housing Market Business 514

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% June saw a 3.4%

Contracts 397

Contracts Inventory Buyers Housing Market 397

Housing Wire

AUGUST 14, 2023

While Zillow and its “Zestimate” brought undeniable benefits to consumers, it also added a considerable workload to the already-demanding agent transaction and marketing cycles. According to a 2001 NAR survey , only 69% of buyers used the services of a real estate agent.

Real Estate 370

Real Estate Real Estate Agent Marketing Technology 370

Housing Wire

JUNE 29, 2023

An index of 100 is equal to the level of contract activity in 2001. Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing,” Lawrence Yun , the chief economist of NAR, said in a statement. annual drop recorded in April.

Contracts 370

Contracts Inventory Housing Market Realtors 370

Housing Wire

SEPTEMBER 21, 2023

The housing market will remain subdued until the Federal Reserve starts cutting rates next year, according to economists and housing pros following the central bank’s Wednesday announcement to leave the benchmark rate unchanged in the target range of 5.25%-5.5%. Real estate experts reiterated caution against further rate increases.

Real Estate 448

Real Estate Mortgage Buyers Inventory 448

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%

Contracts 359

Contracts Buyers Mortgage Realtors 359

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.

Realtors 397

Realtors Contracts Buyers Mortgage 397

Housing Wire

AUGUST 24, 2023

Mortgage rate shot up again last week as the bond market continues to grapple with a growing economy in the run up to the next Federal Open Market Committee meeting. What does it mean for the housing market ? 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. Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.96% as of August 10, up from last week ’s 6.90%.

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. . Black Knight’s monthly originations market monitor report showed a similar downward trend of mortgage rate locks. from a year earlier.

Mortgage 370

Mortgage Home Value Buyers Lending 370

Housing Wire

SEPTEMBER 7, 2022

stock market. Lead Real Estate (LRE) seeks to have its ADS securities listed on the NASDAQ Global Market exchange. and Hong Kong and plan to expand our operations in these markets and in Southeast Asia, especially the Philippines,” the company states in its SEC filing. “… We will continue to expand our operations overseas. “We

Development 397

Development Real Estate Luxury Properties Construction 397

Housing Wire

AUGUST 30, 2022

While the growth rate is cooling monthly, we are still in a savagely unhhealthy housing market trying to get national inventory levels back to pre-COVID-19 levels. Total Inventory had been growing from 2001-2005; total listings data in 2005 was at the higher historical range of 2.5 million listings. crash, especially from 2012-2019.

Inventory 397

Inventory New Listings Law Housing Market 397

Housing Wire

MAY 31, 2022

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. Chicago’s housing market started out hot in 2022. About 1,820 homes were sold in the city in January alone, a 7.2%

Mortgage 397

Mortgage Construction Lending Real Estate 397

Appraisal Buzz

JULY 12, 2024

Over the past few years, investors have reduced their homebuying activity, but their activity has continued to outpace the market as a whole. Nevertheless, compared to the history of the data (which dates back to 2001), 2023 saw the second-highest share of investor purchases. When the market peaked in the fourth quarter of 2021, 69.7%

Investors 370

Investors Inventory Buyers Marketing 370

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.” Home prices will be influenced by how much inventory is brought to market. in 2023, settling at 4.38

Construction 370

Construction Inventory Realtors Housing Market 370

Housing Wire

NOVEMBER 29, 2021

An index of 100 is equal to the level of contract activity in 2001.” Last week, I wrote about how the existing home sales markets outperformed my peak sales range in the past two sales reports. Remember, a seller is typically also a buyer, so inventory should fall when demand picks up and that seller finds another home to buy.

Inventory 532

Inventory Contracts Training Investors 532

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