Housing Wire

MARCH 23, 2022

We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housing market was last year — and it got a lot worse this year — it’s a blessing that was much needed. million line in the sand has been this: Home prices grow above that 23% level: check Mortgage rates spike higher: check.

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Housing Wire

DECEMBER 21, 2022

. “The principal factor was the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. ” One of the housing economic realities that I have been trying to stress this year is that a traditional seller of a home is typically a buyer as well.

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Housing Wire

MAY 26, 2022

As the 10-year yield broke above 1.94% and mortgage rates rose, we saw the impact on housing data. That’s not the case now because we have’t had a credit boom post-2010 as we did from 2002 to 2005. Credit stress was evident from 2005 to 2008. It’s an excellent time to discuss housing inventory. What is going on here?

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Housing Wire

JANUARY 2, 2024

And the peak in existing home sales was 2005 when you had around 7 million transactions.” If this came to pass as Whitney predicts, then some seniors may not have as much of a need for a product like a traditional reverse mortgage through the Federal Housing Administration (FHA)’s Home Equity Conversion Mortgage (HECM) program.

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Housing Wire

APRIL 15, 2022

We’ve all been wondering what 5% plus mortgage rates would do to the hot housing market, and now we’ve got that and a bag of chips. As a result, I’ve been rooting for mortgage rates to rise to create a balancing impact on this housing market. 2018 was the last time mortgage rates got to 5%, and sales trended from 5.72

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Housing Wire

NOVEMBER 13, 2023

Buying a house was obtainable only for the haves in 2023 as home prices and mortgage rates soared. Homebuyers’ median household income increased by $19,000 this year from 2022, reaching $107,000, according to the National Association of Realtors ’ 2023 Profile of Homebuyers and Sellers. Meanwhile, in September, one-third of U.S.

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Housing Wire

SEPTEMBER 28, 2022

We had a period this summer when mortgage rates moved from 6.25% back down to 5% and some of the new home sales activity picked up. million level we saw in 2005. However, it does show that the builders are in a much better spot to deal with their massive supply, compared to the 2005-2008 period. months of supply, 5.36

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Housing Wire

JUNE 28, 2022

Imagine if mortgage rates didn’t rise this year. We are still showing double-digit home-price growth trends in the recent data as it takes time for higher mortgage rates to really increase supply back to normal levels. Since 2014, we’ve not seen the credit housing boom that we saw from 2002-2005.

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Housing Wire

MARCH 18, 2022

You can see why I have been on team higher mortgage rates for some time now because we don’t have any other way to get off this madness. You can’t have the best housing demographics ever, with the lowest mortgage rates and the best loan profiles with falling inventory for eight years, and not be concerned about this during 2020-2024.

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Housing Market Marketing Inventory Sellers 542

Housing Wire

AUGUST 23, 2022

Tuesday’s new home sales report missed expectations and had negative revisions, which isn’t surprising given this sector of our economy simply can’t handle higher mortgage rates. can’t have a credit sales boom like we saw from 2002-2005. Over the years, I have tried to emphasize that the housing market in the U.S.

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Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

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Housing Wire

FEBRUARY 24, 2023

9 up until the early part of February as mortgage rates fell from 7.37% to 5.99%. To combat higher mortgage rates, builders have been cutting prices and buying down rates to move product. If sales are working from an elevated number, like what we saw from 2003-2005, it’s a different subject altogether.

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Housing Wire

JANUARY 20, 2023

The lack of sellers is also a demand problem and what we saw after June of 2022 is that sellers called it quits earlier and faster in the year than usual, resulting in total existing home sales totaling 5,030,000 to end 2022. During that period, we saw new listing data decline. Also, this is what the Federal Reserve wants.

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Housing Wire

JUNE 27, 2023

They’re effective sellers and don’t want to create a backlog of completed units for sale because that would ruin their business model. This means new homes — with all the bells and whistles — can peel some buyers from the existing home sales market, especially if they pay down mortgage rates. Now on to the report.

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Housing Wire

MAY 24, 2022

A few months ago, I wrote that the new home sales sector is at risk because of rising mortgage rates. I know some people don’t agree with me on this, but the price gains in both the existing home and new home sales sector show that homebuilders and sellers had too much pricing power and needed to be checked.

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Housing Wire

JUNE 21, 2024

Existing home sales When mortgage rates started to rise earlier this year, existing home sales trended lower. However, what is different this year from 2023 is that we have more sellers that will be buyers. However, if mortgage rates went lower and stayed lower, everyone would be selling more homes today.

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Inventory Housing Market New Listings Contracts 482

Housing Wire

AUGUST 30, 2022

However, we haven’t had a credit sales boom like the one we saw from 2002-2005. Total Inventory had been growing from 2001-2005; total listings data in 2005 was at the higher historical range of 2.5 However, not to the degree we saw from 2005-2008. million listings. Today, we stand at 1,310,000 active listings.

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Housing Wire

SEPTEMBER 26, 2023

New home sales missed estimates today but had three months of positive revisions, which continues the story of the builders managing the higher mortgage rate environment. This is why I have called them efficient home sellers. However, higher mortgage rates make it harder and harder to pull some of those deals off.

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Inventory Construction Housing Market Marketing 524

Housing Wire

APRIL 11, 2022

If you look at the monthly supply for new homes from 1996 to 2005, it was always lower than what we saw from 2008 to 2019. Then in 2018, when mortgage rates got to 5%, we had a supply shock for the builders, which in essence stalled out construction for 30 months.

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Housing Wire

DECEMBER 29, 2021

The housing market didn’t crash at all, in fact, more Americans bought homes with mortgages in 2021 than in 2020. mortgage rates, so on the mortgage rate side of the equation, it’s never been better. Home sellers strive to get the highest price from the best offers and homebuilders have the pricing power over consumers.

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Housing Wire

FEBRUARY 16, 2023

The truth is that if mortgage rates fell below 5.875% and kept going lower, everyone’s housing predictions would need to be revised this year because the builders can sell their homes with lower mortgage rates. economy isn’t in recession today, and mortgage rates have risen almost 1% from the recent lows.

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Construction Housing Market Inventory Mortgage 526

Appraisal Buzz

MAY 17, 2021

During the 2007-10 mortgage default meltdown, appraisals were a target of complaints and allegations by lenders, the GSEs, some state appraisal boards, and a few unscrupulous entrepreneurs. Between 2002-2005 in many markets, the real estate market was scorching, much like it is today. We are seeing that as a profession again.

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Housing Wire

JULY 13, 2022

This problem is much different than the housing credit bubble of 2002-2005. Mortgage rates of 4%-5% weren’t doing the amount of demand destruction I thought they would. Mortgage rates closer to 6% for sure are driving bigger year-over-year decline data. housing market as savagely unhealthy. Jobs and incomes will be lost.

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Inventory Housing Market Construction Mortgage 540

Housing Wire

MARCH 29, 2022

If you look at the monthly supply for new homes from 1996 to 2005, it was always lower than what we saw from 2008 to 2019. Then in 2018, when mortgage rates got to 5%, we had a supply shock for the builders, which in essence stalled out construction for 30 months.

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Inventory Housing Market Marketing Modernization 435

Housing Wire

NOVEMBER 18, 2022

As mortgage rates rose more and more, the October to January data was going to show big negative prints. A traditional seller is primarily a homebuyer, so not only do we lose the inventory for sale when this happens, but we also lose a buyer. NAR Research : Total existing-home sales decreased 5.9% million in October. months to 3.3

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Housing Wire

MAY 4, 2022

A housing bubble can generally be defined as an unsustainable period of house price growth generated by artificial demand, as was the case in the mid-2000s when demand surged because of wider access to mortgage financing. Tighter mortgage underwriting : Lending standards are much tighter today than during the mid-2000s.

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Housing Wire

APRIL 25, 2023

As we can see in the chart below, it’s not like the new home sales market is booming at all; we aren’t anywhere near the top of sales in 2005 or in 2020. Imagine what the total housing market would look like if mortgage rates were at 5% today. percent (±15.2 percent)* above the revised February rate of 623,000, but is 3.4 percent (±12.7

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Inventory Housing Market Construction Marketing 501

Housing Wire

MAY 14, 2023

Mortgage rates fell last week as we started the week at 6.65% and got as low as 6.49% to end the week at 6.55%. When you consider that a home seller is a natural homebuyer as well, you can see why the housing market broke after mortgage rates went on a roller coaster last year. This link explains the difference.

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Housing Wire

APRIL 20, 2023

million before we saw the massive stress spike in supply from 2005 to 2007. One thing higher mortgage rates have done for sure is that home-price growth is cooling down noticeably since the big spike in rates. As we can see below, from 2000, total active housing inventory rose from 2 million to 2.5 economy.

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Inventory Housing Market Marketing New Listings 531

Housing Wire

DECEMBER 23, 2022

One of the realities of COVID-19 has been the lag to build homes in a business that requires stable mortgage rates because of the traditional time to complete a home. Mortgage rates jumped from 3% to 7.375% this year. That would reverse the problem the housing market has had selling homes with mortgage rates above 7%.

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Housing Wire

JANUARY 5, 2023

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. Mortgage rates. So where does all that drama leave us for 2023?

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Housing Market Marketing Inventory New Listings 543

Housing Wire

JANUARY 26, 2022

The new home sales market is doing its slow and steady dance upward, which is typically the case as long as mortgage rates stay low. percent)* below the December 2020 estimate of 943,000 Slow and steady wins the race and the market that we had from 2002-2005 doesn’t exist today. From Census: New Home Sales Sales of new single?

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Housing Wire

APRIL 30, 2023

The other focus should be where mortgage rates go; only a little happened last week. Mortgage rates, once again, didn’t move too much this last week; the bottom level range was 6.50%, while the top was 6.67%; we ended the week at 6.59%. The fear of not having an increase in inventory this spring should be put to rest.

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Inventory Housing Market Marketing New Listings 525

Housing Wire

DECEMBER 22, 2021

It’s the same reason I have given for many years: the American bears who are typically housing crash addicts can’t read data correctly, and the mortgage purchase application data just proved my point once again. million level for three straight months, aligning with the better mortgage demand growth that we saw for four months.

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Housing Wire

APRIL 27, 2022

That data shows how housing was still on pace to have another solid year before mortgage rates got over 5%. The housing world is much different at 5% plus mortgage rates versus the 3% mortgage world we had last year. The builders have pricing power and they — along with home sellers — have pushed it very hard since 2020.

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Housing Wire

MARCH 28, 2022

However, since I had the possibility of the 10-year yield getting to 2.42% and 4% plus mortgage rates, I accounted for that in the range. For now, it’s ok, but this is one sector that people need to keep their eye out on because it’s tied to mortgage buyers more than the existing home sales market.

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Housing Market Marketing Supply Chain Inventory 370

Lamacchia Realty

APRIL 7, 2025

As of late, Home Owners Association (HOA) dues often rival or exceed mortgage payments, then factor in higher interest rates, and taxesthough some potential tax relief may be on the horizon-and condo ownership is almost out of reach for some. This happens because of pricing. This is why the number of days of market rises.

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