Housing Wire

SEPTEMBER 28, 2021

below its 2006 peak. For-sale inventory levels charted their fourth consecutive monthly increase in August, and sellers appear to be taking a less aggressive approach when putting their homes on the market. Home prices in 19 of our 20 cities now stand at all-time highs, with the sole outlier (Chicago) only 0.3%

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Housing Wire

APRIL 30, 2021

More than a quarter of single-family homes for sale during the first quarter were new-construction homes — nearly 26%, and March housing starts jumped nearly 20% month over month to the highest level since 2006, per the latest report from Redfin. Rates recently fell below 3% , and are nearly 30 basis points lower than they were a year ago.

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Housing Wire

MAY 24, 2022

My biggest thing is getting total inventory back to 2018-2019 levels, which can range from 1.52-1.93 However, this isn’t going to help much because the existing home sales market has a different inventory channel. Now inventory is rising in the existing home sales market, and we just had some positive weekly year-over-year prints.

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Housing Wire

JULY 25, 2022

Housing demand weakened noticeably as growing concerns about affordability contributed to non-seasonal declines in sales, resulting in a slight increase in inventory and more moderate price appreciation,” states the Federal Reserve’s most recently released Beige Book report — based on data and reports current as of mid-July.

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Lamacchia Realty

JANUARY 25, 2024

It kept inventory down, which propped up prices, but sales are down nearly 22%, and buyers are hungry. A year later, still no crash, which had more to do with the decrease in inventory than the decrease in sales. The number of homes placed under contract (pending), decreased by 17.7% A lot of it had to do with anemic inventory.

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Lamacchia Realty

JANUARY 25, 2024

This scarcity in inventory exerted upward pressure on prices, although it coincided with a 19% decline in sales. Despite this decline, motivated buyers were out there trying to secure a home while also trying to navigate lower affordability and low inventory. Average prices for closed sales increased by 7.2% Sales Decline by 18.9%

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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%

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Empire Appraisal Group

SEPTEMBER 8, 2022

The housing market is entering the ‘most significant contraction in activity since 2006,’ says Freddie Mac economist” (Fortune). The market is adjusting to a new reality, with much lower sales volumes and far more inventory,” says Ian Shepherdson, chief economist at Pantheon Macro. Or to prompt homebuyers to delay buying.

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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.

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Appraisal Buzz

JUNE 12, 2024

The company—was established “to provide portfolio managers with reliable and high-quality outsourcing services to manage their REO assets”—launched just before the 2007-2008 financial crisis, a time when REO inventories were abundant as the nation navigated wide-spread foreclosures, bank collapses, and economic strife.

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McKissock

MARCH 15, 2022

Buyers, many out-of-state, were purchasing homes with cash but were not living in them, which increased values from 2004 to 2006 because of competition, but it also indicated that a possible real estate bubble was in the very foreseeable future. Use of creative financing such as seller contracts.

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Housing Wire

APRIL 21, 2022

Last May, Sam Khater, chief economist for Freddie Mac , the government-sponsored enterprise and mortgage purchaser, issued a report with the grim conclusion: “Inventory of both new and existing homes for sale is currently at a historical low.”. Today, the most homes since 2006 are starting to be built, at an annual adjusted rate of over 1.1

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Appraisal Today

JUNE 17, 2022

NOTE: Please scroll down to read the other topics in this long blog post on real estate market, USPAP and contracts, unusual homes, mortgage origination stats, etc. ==. USPAP and the Contract. Excerpt: But USPAP and the contract have a very unique relationship. Some appraisers do not like having a copy of the contract.

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Appraisal Today

JUNE 10, 2022

“Unlike in 2006, this market is underpinned by strong fundamentals and has been built on mortgages with sound credit, factors that won’t change in the near term.” The purchase market has suffered from persistently low housing inventory and the jump in mortgage rates over the past months. percent the previous week.

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Appraisal Today

AUGUST 5, 2022

Excerpts: Lending was not very prudent prior to the crash of 2008 as suggested by the trend in the median credit score (FICO), a measure for credit worthiness; for newly originated first-time purchase mortgages the median FICO score was 686 in Q1 2006 versus 740 in Q4 2020. The average contract interest rate for 5/1 ARMs decreased to 4.55

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Appraisal Today

OCTOBER 14, 2022

Inventory levels have an impact on property valuation, at least in the short term. percent, the highest level since 2006. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 6.81 The average contract interest rate for 5/1 ARMs increased to 5.56

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Will Springer Realtor

MAY 9, 2022

The 323,465 flipped single-family, condo and townhomes in 2021 is the highest number since 2006 and represented 5.5% That includes 621 fewer Pending contracts in April 2022 than the previous April, as the net number of new listings remains on average lower than in years past. Inventories rose in the past month across the county (0.8

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Will Springer Realtor

MAY 12, 2021

This was the fastest pace for combined single-family and multi-family construction since June 2006. >> The lack of inventory to keep real estate moving is confirmed with the latest data on U.S. The excess of inventory that occurred in 2007, 2008 and ’09, was an anomaly,” said Marci Rossell, former chief economist for CNBC.

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