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

MAY 25, 2023

The housing market looks different than it does during a typical spring, when the market is usually in full gear,” Lisa Sturtevant, the chief economist at Bright MLS , said in a statement. An index of 100 is equal to the level of contract activity in 2001. annual drop recorded in March.

Inventory 397

Inventory Housing Market Contracts Government 397

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. or lower mortgage rate they locked in at. The new normal for mortgage rates could be around 7% for a while,” Yun added. “On

Contracts 528

Contracts New Listings Realtors Housing Market 528

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. Experts attribute the drop in pending home sales to mortgage rate volatility. The PHSI fell 2.1% from April to a reading of 70.8

Inventory 501

Inventory Contracts Realtors Buyers 501

Housing Wire

SEPTEMBER 26, 2024

A reading of 100 is equal to the level of contract activity in 2001. NAR chief economist Lawrence Yun attributed the modest uptick in contract signings to improved housing affordability due to lower mortgage rates. Housing affordability will continue to see notable improvements.”

Contracts 455

Contracts Realtors Housing Market Mortgage 455

Housing Wire

NOVEMBER 27, 2024

Despite the recent rise in mortgage rates, early indicators suggest that the housing market is pointed in the right direction. The PHSI is benchmarked at 100 in 2001. Higher mortgage rates mean that some buyers might decide to wait until 2025.” year over year and 2% compared to September.

Marketing 370

Marketing Realtors Housing Market Lending 370

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. Department of Agriculture (USDA).

Mortgage 397

Mortgage Construction Lending Real Estate 397

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 The “seesaw” nature of pending home sales could indicate a turning point for the housing market, according to Lawrence Yun, NAR chief economist.

Marketing 468

Marketing Buyers Realtors Real Estate 468

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.” in 2023 and 5.4%

Housing Market 459

Housing Market Realtors Contracts Buyers 459

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. in August 2022 and marks the highest percentage since October 2022, when mortgage rates surpassed 7% for the first time in two decades. The average interest rate on a 30-year-fixed mortgage was 7.07% in August.

Buyers 448

Buyers Mortgage New Listings Real Estate 448

Housing Wire

NOVEMBER 19, 2024

We heard a lot about the need for millions of new homes during the run-up to the election, so I can imagine how shocked some people are to see today’s report on housing starts and permits at recession levels. However, they slow down when mortgage rates are between 6.75% and 7.5%. However, rates have since increased again.

Construction 539

Construction Mortgage Development Buyers 539

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. and West (96.9) respectively.

Inventory 511

Inventory Contracts Housing Market Buyers 511

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

Housing Wire

AUGUST 10, 2023

The 30-year fixed mortgage rate continued its upward trajectory for the third consecutive week, rising to 6.96%, according to Freddie Mac. Another rate hike in September would move the target federal funds rate to its highest level since March 2001. By contrast, the 30-year fixed-rate mortgage was at 5.22% a year ago at this time.

Mortgage 370

Mortgage Real Estate Buyers Construction 370

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 in January.

Inventory 482

Inventory Realtors Contracts Sellers 482

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

AUGUST 30, 2023

An index of 100 is equal to the level of contract activity in 2001. However, rising mortgage rates and limited inventory have temporarily hindered the possibility of buying for many.” Sales activity is expected to remain slow for the rest of the year, as inventory remains low and mortgage rates remain high, noted Sturtevant.

Inventory 448

Inventory Contracts Buyers Realtors 448

Housing Wire

APRIL 2, 2021

The Mortgage Bankers Association expects this heightened pace to drop unemployment numbers to below 5% by the end of the year. “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.

Inventory 514

Inventory Construction Housing Market Business 514

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. in January, down from 77.3 in December.

Contracts 459

Contracts Inventory New Listings Realtors 459

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

AUGUST 23, 2023

Bad news for mortgage professionals: not only are mortgage rates at their highest level in over two decades, they might not drop anytime soon. On Wednesday morning, the 30-year fixed mortgage rate was 7.29% at HousingWire’s Mortgage Rates Center and 7.49% on Mortgage News Daily. But it would require the U.S.

Mortgage 370

Mortgage Loan Officers Inventory Housing Market 370

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 We now have multiple leading housing indicators that are pointing to modestly higher sales activity. “We

Contracts 448

Contracts Realtors Mortgage Buyers 448

Housing Wire

OCTOBER 6, 2023

With 30-year fixed mortgage rates climbing to a 23-year high, the Mortgage Bankers Association (MBA) called on the Federal Reserve to bring some certainty to financial markets. “It to 5% – the highest level since 2001. HousingWire’s Mortgage Rates Center showed the 30-year fixed rate higher at 7.549% on Friday.

Government 493

Government Mortgage Investors Finance 493

Appraisal Buzz

OCTOBER 30, 2024

The amount of contract activity in 2001 is represented by an index of 100. Pending house sales are a good indicator of market conditions and typically follow existing home sales by one to two months. Due to limited demand and rising availability, housing competition has diminished nationally. September saw a 7.4%

Contracts 418

Contracts Buyers Inventory Mortgage 418

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%. in 2024 and 5.1%

Real Estate 448

Real Estate Mortgage Buyers Inventory 448

Appraisal Buzz

JULY 31, 2024

The level of contract activity in 2001 is represented by an index of 100. in June as mortgage rates fell through the month, dipping below 7% and continuing to fall to 6.86% by the end of the month, Hannah Jones, Sr. Mortgage rates declined by 14 basis points in June, while inventory picked up, bringing some buyers off the sidelines.”

Contracts 397

Contracts Inventory Buyers Housing Market 397

Housing Wire

OCTOBER 18, 2022

due to the slowdown in the housing market, according to the firm. Established in 2001, the Nevada-headquartered company delivers solutions to modernize the appraisal process, which may take days to weeks to complete, or even longer during booming markets.

Valuation 435

Valuation Modernization Real Estate Appraisal 435

Housing Wire

AUGUST 29, 2024

Mortgage rates are finally dropping, but pending home sales fell even further into the toilet in July. 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.

Buyers 459

Buyers Realtors Inventory Sellers 459

Housing Wire

APRIL 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The lack of housing inventory is a major constraint to rising sales,” Lawrence Yun , NAR’s chief economist, said in a statement. In addition, NAR forecasts that mortgage rates will drop to 6.0% in 2024, and housing starts will fall 7.3% year over year.

Inventory 459

Inventory Realtors Contracts Construction 459

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

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 million units.

Contracts 418

Contracts Realtors Inventory Marketing 418

Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The recovery has not taken place, but the housing recession is over,” said NAR Chief Economist Lawrence Yun. The presence of multiple offers implies that housing demand is not being satisfied due to lack of supply. Meanwhile, housing starts are forecast drop 5.3%

Construction 370

Construction Inventory Realtors Housing Market 370

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

JANUARY 25, 2023

The firm announced on Wednesday that it was eliminating about 24% of its workforce, or over 250 jobs, as it restructures departments and consolidates teams amid a tough housing market. The firm reduced its workforce by about 27%, or about 350 positions, in October following a slowdown in the housing market.

Valuation 418

Valuation Technology Modernization Appraisal 418

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.

Inventory 397

Inventory New Listings Law Housing Market 397

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

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). 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 Pending home sales decreased 5.5% in the Northeast, 7.8%

Contracts 221

Contracts Buyers Realtors Inventory 221