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. On a year-over-year basis, pending sales were up 1.3%.

Contracts 482

Contracts Housing Market Construction Inventory 482

Appraisal Buzz

DECEMBER 30, 2024

Year-over-year, contract signings increased in all four U.S. 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. in November.

Contracts 435

Contracts Inventory Buyers Sellers 435

Housing Wire

JUNE 10, 2022

Consumer direct lender Wyndham Capital Mortgage is doing a new round of layoffs, according to a Worker Adjustment and Retraining Notification (WARN) notice filed with the North Carolina Department of Commerce. Purchase mortgage rates reached 5.23% this week – and some of those same lenders are making further cuts.

Mortgage 418

Mortgage Loan Officers Retail Contracts 418

Housing Wire

FEBRUARY 29, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. Meanwhile, new home sales , which are also a measure of contract signings, reached a seasonally adjusted annual rate of 661,000 in January, up 1.5% NAR’s Pending Home Sales Index (PHSI) decreased to 74.3 in January, down from 77.3

Contracts 459

Contracts Inventory New Listings Realtors 459

Housing Wire

AUGUST 16, 2023

Mortgage applications fell for the fourth consecutive week as the 30-year fixed-rate mortgage rose to its highest level since 2001, reaching 7.16%. For the week that ended August 11, mortgage applications fell 0.8% from the prior week , according to data from the Mortgage Bankers Association. from 13.6% from 13.6%

Mortgage 370

Mortgage Contracts Government Investors 370

Appraisal Buzz

OCTOBER 30, 2024

increase in the Pending Home Sales Index (PHSI), a measure of future home sales based on contract signings, to 75.8, The amount of contract activity in 2001 is represented by an index of 100. Year-over-year, contract signings grew in the Northeast and West and were unchanged in the Midwest and South. September saw a 7.4%

Contracts 418

Contracts Buyers Inventory Mortgage 418

Appraisal Buzz

JUNE 27, 2024

Indicator of prospective home sales based on contract signings, the Pending Home Sales Index (PHSI) dropped to 70.8 The level of contract activity in 2001 is represented by an index of 100. A continued dearth of inventory, high home prices and stable mortgage interest rates have kept would-be home buyers at bay this spring.”

Contracts 418

Contracts Inventory Buyers Mortgage 418

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 The new normal for mortgage rates will likely be in the 5.5% compared to December 2021. and the Midwest (77.6)

Contracts 448

Contracts Realtors Mortgage Buyers 448

Housing Wire

MARCH 28, 2024

Pending home sales increased modestly in February despite rising mortgage rates , growing 1.6% For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. in February, up from 74.3

Inventory 482

Inventory Realtors Contracts Sellers 482

Housing Wire

MARCH 31, 2021

drop in the number of homes in contract from the prior month, according to new data from the National Association of Realtors. An index of 100 is equivalent to the level of pending sales in 2001. After eight months of consecutive gains, the consequences of low inventory finally caught up with the housing market in February.

Inventory 511

Inventory Contracts Housing Market Buyers 511

Housing Wire

MAY 25, 2023

“Elevated mortgage rates and economic uncertainty, along with still-low inventory, means that new pending sales were down more than 20% from a year ago, and were lower even compared to 2019 levels.” An index of 100 is equal to the level of contract activity in 2001. Regionally, the Midwest (78.4), South (99.6), and West (62.2)

Inventory 397

Inventory Housing Market Contracts Government 397

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. of homes that went under contract that month, according to a new report from Redfin. The average interest rate on a 30-year-fixed mortgage was 7.07% in August. That rate is up from 14.3% This price was 2.8%

Buyers 448

Buyers Mortgage New Listings Real Estate 448

Housing Wire

DECEMBER 30, 2024

Despite rising mortgage rates through much of 2024, recent indications show growing boldness among homebuyers heading into the new year. NAR’s Pending Homes Sales Index (PHSI) report is a forward-looking source that predicts home sales based on contract signings. These increases are persisting despite mortgage rates near 7%.

Inventory 435

Inventory Buyers Housing Market Mortgage 435

Housing Wire

SEPTEMBER 28, 2023

An index of 100 is equal to the level of contract activity in 2001. Pending home sales, like new home sales, are based on contract signings. Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers,” Lawrence Yun, NAR chief economist said. below the August 2022 level.

Housing Market 497

Housing Market Contracts Government Buyers 497

Appraisal Buzz

NOVEMBER 27, 2024

NAR’s Pending Home Sales Index (PHSI)–a forward-looking indicator of home sales based on contract signings–rose 2% to 77.4 An index of 100 is equal to the level of contract activity in 2001. Another major housing indicator, mortgage application volume, has trended downward. in October. week-over-week. from October 2023.

Contracts 418

Contracts Inventory Mortgage Buyers 418

Housing Wire

JULY 29, 2021

An index of 100 is equal to the average level of contract activity during 2001, the first year examined. The volume of existing-home sales in 2001 was within the range of 5 to 5.5 ” Yun said he expects the 30-year fixed mortgage rate to increase to 3.3% Mortgage applications increased 5.7%

Marketing 468

Marketing Buyers Realtors Real Estate 468

Housing Wire

AUGUST 30, 2023

An index of 100 is equal to the level of contract activity in 2001. “The small gain in contract signings shows the potential for further increases in light of the fact that many people have lost out on multiple home buying offers,” said NAR Chief Economist Lawrence Yun.

Inventory 448

Inventory Contracts Buyers Realtors 448

Appraisal Buzz

JULY 31, 2024

The rise in housing inventory is beginning to lead to more contract signings,” said Lawrence Yun, NAR Chief Economist. A measure of prospective home sales based on contract signings, the Pending Home Sales Index (PHSI) increased to 74.3 The level of contract activity in 2001 is represented by an index of 100.

Contracts 397

Contracts Inventory Buyers Housing Market 397

Housing Wire

DECEMBER 28, 2023

Pending home sales in November were largely unchanged from October’s levels, a month that saw the lowest pending sales since 2001. “With mortgage rates falling further in December – leading to savings of around $300 per month from the recent cyclical peak in rates – home sales will improve in 2024,” Yun added. marking a 4.9%

Realtors 482

Realtors Contracts Mortgage Marketing 482

Housing Wire

SEPTEMBER 29, 2022

An index of 100 is equal to the level of contract activity in 2001. The direction of mortgage rates – upward or downward – is the prime mover for home buying, and decade-high rates have deeply cut into contract signings,” Lawrence Yun, NAR’s chief economist, said in a statement. “If year over year in 2022, to 5.19

Contracts 418

Contracts Realtors Inventory Marketing 418

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. The expansion comes amid a surge in mortgage rates and declining loan origination volume.

Mortgage 397

Mortgage Construction Lending Real Estate 397

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 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. By contrast, the 30-year fixed-rate mortgage was at 5.55% a year ago at this time. Other indices showed even higher mortgage rates.

Mortgage 370

Mortgage Property Taxes Investors Buyers 370

Appraisal Buzz

SEPTEMBER 26, 2024

NAR’s Pending Home Sales Index (PHSI) is a forward-looking indicator of home sales based on contract signings, ad increased to 70.6 A PHSI reading of 100 is equal to the level of contract activity in 2001. “A However, contract signings remain near cyclical lows even as home prices keep marching to new record highs.”

Contracts 359

Contracts Buyers Mortgage Realtors 359

Housing Wire

APRIL 27, 2023

An index of 100 is equal to the level of contract activity in 2001. In addition, NAR forecasts that mortgage rates will drop to 6.0% Sales in the second half of the year should be notably better than the first half as job gains continue and more favorable mortgage rates are expected,” Yun said. year over year.

Inventory 459

Inventory Realtors Contracts Construction 459

Housing Wire

APRIL 20, 2022

Fannie Mae has lowered its mortgage origination forecasts for 2022 and 2023 due to the Federal Reserve’s (Fed) aggressive inflation-fighting monetary policy and corresponding volatility in the mortgage market. Staying nimble in a fast-paced market with the right mortgage technology. trillion in 2022 to $1.85

Technology 476

Technology Mortgage Contracts Real Estate 476

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

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. In recent weeks, however, mortgage rates have dipped back into the 6.0%

Realtors 397

Realtors Contracts Buyers Mortgage 397

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. Despite the strong monthly increase, pending home sales are down 24.1% compared to a year ago.

Housing Market 459

Housing Market Realtors Contracts Buyers 459

Housing Wire

NOVEMBER 29, 2021

Who is crazy enough to write an American economic recovery model on April 7, 2020, and try to explain to people why housing isn’t going to crash due to demographics, good credit profiles and low mortgage rates? An index of 100 is equal to the level of contract activity in 2001.” in October. From July 14 to Sept.

Inventory 532

Inventory Contracts Training Investors 532

Housing Wire

DECEMBER 16, 2021

Interfirst Mortgage , the retail mortgage business he founded in 2001, had grown to $14.5 The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017. In 2012, Dmitry Godin was seemingly on top of the world.

Mortgage 370

Mortgage Loan Officers Retail Training 370

Inman

APRIL 25, 2024

Rising home prices and mortgage rates stifled pending home sales in February, according to the National Association of Realtors on Thursday. The Pending Home Sales Index, which is a forward-looking indicator based on contract signings, was 75.6 The maximum score on the scale is 100, which represents the contract activity seen in 2001.

Contracts 179

Contracts Realtors Mortgage Marketing 179

Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The trade association forecasts the 30-year fixed mortgage rate to close at 6.4% With consumer price inflation calming close to the Federal Reserve’s desired conditions, mortgage rates look to have topped out,” Yun added. in 2023, settling at 4.38

Construction 370

Construction Inventory Realtors Housing Market 370

Appraisal Buzz

AUGUST 29, 2024

compared with July 2023, as mortgage rates and home prices remained stubbornly high, according to the National Association of Realtors (NAR). Regionally, and month over month, contract signings decreased 1.4% presidential election.” “Current lower, falling mortgage rates will no doubt bring buyers into market.” in the West.

Contracts 221

Contracts Buyers Realtors Inventory 221

Housing Wire

APRIL 20, 2022

But with rising mortgage rates, still-rising home prices, and record-low levels of inventory, this might be easier said than done. Just how we do contracts now is so much faster. The back end systems, when we are listing something or putting something under contract, it is all just very seamless. Brokerages Invest in Tech.

Real Estate Agent 448

Real Estate Agent Real Estate Agents Brokerage 448

Appraisal Today

DECEMBER 2, 2022

NOTE: Please scroll down to read the other topics in this long blog post on George Harrison passed, Appraisal business, marketingunusual homes, mortgage origination stats, etc. I remember meeting George Harrison shortly after I moved to San Antonio in 2001. trillion overall in mortgages in 2023, down 12% from 2022 and down 3.5%

Appraisal 80

Appraisal Agents Real Estate Real Estate Agent 80

Appraisal Today

AUGUST 18, 2023

You are unlikely to see an immediate surge in desktop and hybrid appraisal assignments in the current volatile real estate market, but once normalcy returns to the mortgage rates and the housing market (as it always does), you can expect them to increase. Varies widely around the country. == Mortgage applications decreased 0.8

Appraisal 75

Appraisal Contracts Inspection Real Estate 75