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

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 May’s pending home sales slid 2.1% million in 2023 to 4.26

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. Overall active inventory improved 7.9% However, consumers are showing extra sensitivity to changes in mortgage rates in the current cycle, and that’s impacting home sales.” from December’s annualized rate.

Contracts 459

Contracts Inventory New Listings Realtors 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

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.

Contracts 435

Contracts Inventory Buyers Sellers 435

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

Housing Wire

JANUARY 15, 2025

The resulting housing market crash and the Great Recession led policymakers to overcorrect by tightening mortgage lending standards and limiting funds for new construction. USC researchers offered two key solutions to address the growing inventory shortage.

Lending 418

Lending Housing Market Inventory Construction 418

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% year over year. in 2023 and 5.6% year over year in 2023 to 1.44

Inventory 459

Inventory Realtors Contracts Construction 459

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.” However, rising mortgage rates and limited inventory have temporarily hindered the possibility of buying for many.”

Inventory 448

Inventory Contracts Buyers Realtors 448

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% rise from a year ago. .

Marketing 468

Marketing Buyers Realtors Real Estate 468

Housing Wire

OCTOBER 28, 2021

An index level of 100 is equal to the level of contract activity in 2001. It’s worth noting that there will be less inventory until the end of the year compared to the summer months, which happens nearly every year.”. Top markets for affordable renovated housing inventory.

Inventory 448

Inventory Renovations Contracts Buyers 448

Appraisal Buzz

NOVEMBER 27, 2024

An index of 100 is equal to the level of contract activity in 2001. Another major housing indicator, mortgage application volume, has trended downward. First American Deputy Chief Economist Odeta Kushi noted, “However, mortgage applications–another leading indicator of sales activity–suggest that the housing market’s challenges remain.

Contracts 418

Contracts Inventory Mortgage Buyers 418

Housing Wire

FEBRUARY 15, 2023

Larry Steinway, former senior vice president of lending and branch manager at Illinois-based Guaranteed Rate , has taken on a new challenge to expand the Ohio-based Revolution Mortgage footprint in the Chicagoland market. He was the fourth mortgage loan originator to join Guaranteed Rate in 2000.

Mortgage 370

Mortgage Loan Officers Lending Retail 370

Appraisal Buzz

JULY 31, 2024

The rise in housing inventory is beginning to lead to more contract signings,” said Lawrence Yun, NAR Chief Economist. 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.

Contracts 397

Contracts Inventory Buyers Housing Market 397

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

AUGUST 29, 2024

Mortgage rates are finally dropping, but pending home sales fell even further into the toilet in July. Anything above 100 is considered to have a higher level of activity relative to 2001. That’s according to the July pending home sales index from the National Association of Realtors. On an annual basis, the index fell by 8.5%

Buyers 459

Buyers Realtors Inventory Sellers 459

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. For others, the higher mortgage rates and general economic uncertainty are simply making them more cautious.”

Housing Market 497

Housing Market Contracts Government Buyers 497

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.” That decline is due in part to the recent hurricanes and rising mortgage rates.

Marketing 370

Marketing Realtors Housing Market Lending 370

Appraisal Buzz

OCTOBER 30, 2024

The amount of contract activity in 2001 is represented by an index of 100. Contract signings rose across all regions of the country as buyers took advantage of the combination of lower mortgage rates in late summer and more inventory choices,” said Lawrence Yun, Chief Economist for NAR. September saw a 7.4% year-over-year.

Contracts 418

Contracts Buyers Inventory Mortgage 418

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

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. Year-over-year, signings fell 1.4%.

Inventory 532

Inventory Contracts Training Investors 532

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 The positive impact of job growth and higher inventory could not overcome affordability challenges and some degree of wait-and-see related to the upcoming U.S. over the previous year.

Contracts 312

Contracts Realtors Inventory Buyers 312

Housing Wire

JUNE 29, 2023

An index of 100 is equal to the level of contract activity in 2001. The lack of housing inventory continues to prevent housing demand from being fully realized.” Yun, however, is optimistic about the impact increased housing starts and homebuilder confidence will eventually have on housing inventory. “It

Contracts 370

Contracts Inventory Housing Market Realtors 370

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. Housing inventory issue with no booming demand. Total Inventory had been growing from 2001-2005; total listings data in 2005 was at the higher historical range of 2.5

Inventory 397

Inventory New Listings Law Housing Market 397

Housing Wire

SEPTEMBER 21, 2023

In an elevated rate environment, the lack of inventory continues to be the biggest challenge for many potential buyers, the Mortgage Bankers Association said. The MBA expects mortgage rates should begin to reflect that the Fed’s moves in 2024 will be cuts – not further increases. in 2024 and 5.1% in 2024, up from the 4.6%

Real Estate 448

Real Estate Mortgage Buyers Inventory 448

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

Appraisal Buzz

JUNE 21, 2024

million renters lived in single-family homes in 2001, making up just under 30% of all renters. elementor-widget-heading.elementor-heading-title.elementor-size-xxl{font-size:59px} Breaking down the market For Point2Home’s study, inventory of single-family homes for rent in the 100 largest U.S. According to U.S. Census data, 10.9

Inventory 393

Inventory Construction Marketing Mortgage 393

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. this year and then decline to 6.0%

Construction 370

Construction Inventory Realtors Housing Market 370

Appraisal Buzz

SEPTEMBER 26, 2024

A PHSI reading of 100 is equal to the level of contract activity in 2001. “A A slight upward turn reflects a modest improvement in housing affordability, primarily because mortgage rates descended to 6.5% Potential August buyers were dealing with the same old story—high prices, low inventory—but had other reasons to hold off, too.

Contracts 359

Contracts Buyers Mortgage Realtors 359

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

Appraisal Buzz

JULY 12, 2024

A portion of the wind was removed from investors’ sails during the year due to rising home prices and mortgage rates. Nevertheless, compared to the history of the data (which dates back to 2001), 2023 saw the second-highest share of investor purchases. Investor participation in home purchases decreased from 13.8% in 2022 to 13.1%

Investors 370

Investors Inventory Buyers Marketing 370

Housing Wire

JULY 21, 2022

This shift in foreclosure auction buyer behavior was likely the result of rising mortgage rates, which increased above the 4% threshold in March and have since risen well above 5%, approaching 6%. That’s still strong demand by historical standards, a function in part of the low inventory of properties available at foreclosure auction.

Housing Market 435

Housing Market Buyers Marketing Retail 435

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. In addition, according to the NAR 2021 Profile of Home Buyers and Sellers report , 87% of buyers who recently purchased homes did so through a real estate agent or broker, up from 69% in 2001.

Real Estate Agent 448

Real Estate Agent Real Estate Agents Brokerage 448

Lamacchia Realty

JANUARY 30, 2024

This scarcity in inventory had the effect of keeping prices high, but there was a substantial decrease in sales, approximately 19%, leaving prospective buyers eager. This resilience is more attributable to the reduction in inventory rather than a decline in sales. Maine Sales Decreased by 18.9%

Inventory 50

Inventory Sellers Buyers Contracts 50

Appraisal Today

SEPTEMBER 29, 2023

NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, VA, flood and fires no insurance, retirement, few lender appraisals, unusual homes, mortgage origination $22M Modern Mansion on 130 Acres in Napa Has Its Own Cabernet Vineyard Excerpts: 6 bedrooms, 6.5+ The GSEs started keeping track in 71.

Insurance 79

Insurance Appraisal Contracts Mortgage 79

Appraisal Today

AUGUST 18, 2023

That’s because scarce inventory is driving up prices, pushing many homes on the cusp over the seven-figure mark. Varies widely around the country. == Mortgage applications decreased 0.8 August 16, 2023) — Mortgage applications decreased 0.8 August 16, 2023) — Mortgage applications decreased 0.8 Just over 8% of U.S.

Appraisal 75

Appraisal Contracts Inspection Real Estate 75

Appraisal Today

JUNE 10, 2022

The Inevitable Cyclicality of Mortgage Lending. NOTE: Please scroll down to read the other topics in this long blog post on declining mortgage loans, real estate market, unusual homes, mortgage origination stats, etc. ==. Breaking Down the Multi-Decade Lows in Mortgage Applications – Lowest in 22 years.

Appraisal 52

Appraisal Contracts Business Mortgage 52