Appraisal Buzz

JULY 5, 2024

Cross-Sector Housing Monitor Webinar ” at 10:00 a.m. While the nation’s housing market remains tight, sales are tracking well below housing demand, and rental and homeowner vacancy rates are plummeting to multi-decade lows. economics, including the labor market, consumer spending, inflation, demographics, and many more.

Housing Market 361

Housing Market Marketing Finance Development 361

Housing Wire

APRIL 30, 2023

The spring housing market music is playing, and purchase application data and active listing inventory rose together last week. In 2007, when sales were down big, total active listings peaked at over 4 million. We had high inventory levels while the unemployment rate was still excellent in 2007.

Inventory 524

Inventory Housing Market Marketing New Listings 524

Housing Wire

APRIL 23, 2023

Can we now say that the housing market ‘s spring selling season is finally underway? Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. In 2022, home sales collapsed in a waterfall fashion.

Inventory 545

Inventory Housing Market Marketing New Listings 545

Housing Wire

APRIL 16, 2023

2021: 66,836 2022: 67,567 2023: 49,045 Compare our current new listing data to weekly new listing data in previous years when we had a more normal housing market: 2015: 94,470 2016: 86,608 2017: 78,886 The NAR data going back decades shows how difficult it’s been to get back to anything normal on the active listing side.

Inventory 537

Inventory Housing Market Marketing New Listings 537

Housing Wire

MAY 18, 2023

Just when I thought days on market were returning to normal, that number for existing homes fell back down to 22 days. If the days on the market are at a teenager level or even lower, it’s never a good sign for the housing market. In 2007, for context, we were a tad above 4 million. Why is this so important to me?

Housing Market 538

Housing Market Marketing Inventory Mortgage 538

Housing Wire

MAY 7, 2023

In 2007, when sales were down big, total active listings peaked at over 4 million. We had high inventory levels while the unemployment rate was still excellent in 2007. This proves that the mass supply growth we saw from 2005-2007 was due to credit stress, not because the economy was in a recession; the U.S.

Inventory 505

Inventory Housing Market Marketing New Listings 505

Housing Wire

APRIL 9, 2023

The housing market welcomed the news of lower mortgage rates last week after four reports showed that the labor market isn’t as tight as it seems and that the fear of 1970s-entrenched inflation was a lousy narrative. In 2007, when sales were down big, total active listings peaked at over 4 million.

Housing Market 540

Housing Market Marketing Mortgage Inventory 540

Housing Wire

JUNE 18, 2023

This dynamic changed the housing market from one where home sales were crashing to one that is now stabilized. As you can see in the chart below, the collapse of the purchase application data has stalled out, and if this didn’t happen, we would be having a different conversation about the housing market today.

Housing Market 498

Housing Market Marketing Inventory New Listings 498

Housing Wire

DECEMBER 20, 2023

Did today’s existing home sales report give us a playbook for housing in 2024? I would argue yes, and the housing market today looks a lot like what we saw in late 2022. I give more details in this interview on why I believe the housing market dynamics shifted on Nov. Unsold inventory sits at a 3.5-month

Housing Market 479

Housing Market Marketing Inventory Realtors 479

Housing Wire

DECEMBER 7, 2022

Since they were distressed forced sellers, inventory skyrocketed in 2006 and stayed very elevated in 2007 and 2008. Since the summer of 2020, I have believed the housing market could change in terms of cooling down, but it would require the 10-year yield to break over 1.94%. Total inventory levels. NAR: Total Inventory levels 1.22

Housing Market 544

Housing Market Mortgage Marketing Inventory 544

Housing Wire

JANUARY 16, 2023

The weekly data shows some good news for the housing market ! With mortgage rates also falling, I am hopeful that more people will list their homes and buy another, so we can get back to a more functional housing market. But after this week’s report, we should have a low-level base formed for housing to stabilize.

Inventory 534

Inventory Housing Market Marketing Mortgage 534

Housing Wire

JANUARY 25, 2023

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. in December 2022, its highest level since 2007 and its fastest rise in more than 40 years. We can also expect low housing demand, which favors buyers.

Housing Market 458

Housing Market Marketing Inventory Sellers 458

Housing Wire

MAY 19, 2022

million , with double-digit home-price growth driving a housing market that is still savagely unhealthy. This is something that I said would change the tone of housing, and we are seeing that result this year as sales decline and inventory picks up. We are not taking the unhealthy housing market theme off this marketplace.

Housing Market 527

Housing Market Marketing Inventory Realtors 527

Housing Wire

MAY 2, 2023

The housing market functions differently than other markets because it can be characterized as a heterogeneous, thinly traded, illiquid market. In other words, it’s a diverse market with a wide variety of different homes of varying ages and levels of repair, and sales happen very rarely. The result is fewer sales.

Housing Market 405

Housing Market Marketing Sellers Inventory 405

Housing Wire

NOVEMBER 19, 2020

The housing market is hot. You may be told that future moderation indicates “cracks in the housing market, but don’t buy into it. You may be told that future moderation indicates “cracks in the housing market, but don’t buy into it. year over year. A normal trend will eventually materialize. Don’t listen.

Housing Market 545

Housing Market Marketing Inventory Buyers 545

Housing Wire

APRIL 3, 2023

Last week was relatively calm for the housing market after the fiasco of the banking crisis. Housing demand grew and inventory levels fell again while mortgage rates rose. For example, over the last few months, when monthly sales were trending at 2007 levels, total active listings peaked at over 4 million.

Inventory 503

Inventory Housing Market Marketing New Listings 503

Housing Wire

JUNE 25, 2023

More importantly, it showed that the days on market dropped back to the teenager level, which means we are once again in a savagely unhealthy housing market. Nothing good is happening in housing when days on market are so low. million The peak in 2007 was a bit over 4 million Currently we’re at 1.08

Inventory 435

Inventory Housing Market Marketing New Listings 435

Housing Wire

NOVEMBER 18, 2022

That’s the largest year over year existing home sales decrease since 2007. The impact is greater in expensive areas of the country and in markets that witnessed significant home price gains in recent years.”. Both a pullback in demand and limited supply remain vexing problems for the housing market. year over year.

Housing Market 443

Housing Market Marketing Inventory New Listings 443

Housing Wire

JANUARY 18, 2023

mortgage insurance market in 2023 to deteriorate. The sector outlook reflects expectations for a slowing economy in 2023, with a modest increase in unemployment and potential pricing corrections in the housing market. Fitch Ratings also expects the outlook for the U.S.

Housing Market 469

Housing Market Marketing Insurance Mortgage 469

Housing Wire

APRIL 8, 2022

One of the reasons that I moved into the “team higher mortgage rate” camp is that what I saw in January, February, and March of this year was so unhealthy that I labeled the housing market savagely unhealthy. million — once that happens, I can take the unhealthy label off the housing market.

Housing Market 418

Housing Market Marketing Inventory Lending 418

Housing Wire

MAY 31, 2024

Large institutional investors typically emerged following a raft of defaults and foreclosures stemming from the 2007-08 financial crisis , putting inventory on the market from 2007-09. They don’t have that kind of capital,” he said, adding that Blackstone Group owns roughly 0.05% of single-family homes in the U.S.

Investors 397

Investors Inventory Government Construction 397

Housing Wire

OCTOBER 19, 2023

for the first time since 2007, according to one index. On Tuesday, the builder confidence fell to 40, its lowest point since January 2023, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Still, inventory remains a huge problem for the housing market.

Mortgage 492

Mortgage Housing Market Inventory Construction 492

Housing Wire

AUGUST 22, 2024

I don’t see anything in our Housing Market Tracker data that would warrant any big beats in future home sales prints. The housing bubble peaked in 2007 at 4 million so with our current level at 1.33 When people were expecting a negative print, they got a positive one. If inventory can trend between 1.52-1.93

Inventory 486

Inventory Housing Market Marketing Investors 486

Housing Wire

APRIL 18, 2024

This is a byproduct of the qualified mortgage rule of 2010, which has been a game-changer not only for the housing market but for the overall U.S. million active listings per the last report, we have 526,000 per our last Housing Market Tracker article. million, and in 2007, it peaked at 4 million. million in March.

Inventory 504

Inventory Housing Market New Listings Marketing 504

Housing Wire

MAY 8, 2024

million, currently at 1,110,000 As you can see above, inventory grew at a healthy clip in previous decades and then had a parabolic run higher in 2006 and 2007 when active inventory reached 4 million. On top of more legitimate buyers, we fixed the credit markets, meaning housing credit looks fantastic.

Inventory 499

Inventory Law New Listings Sellers 499

Housing Wire

SEPTEMBER 21, 2023

As we can see in the chart below, even with the biggest home sales crash in history for one year, inventory data has yet to return to the peaks we saw in 2007. But even with the biggest home sales crash ever, prices are still at all-time highs. Getting back to the four-decade average between 2-2.5 million has been a struggle.

Inventory 521

Inventory Housing Market Mortgage Marketing 521

Housing Wire

NOVEMBER 10, 2022

It goes to show what the failure to build enough homes from 2006 to the present combined with ultra-low, unrealistic mortgage rates and massive amounts of fiscal stimulus can do to the housing market. This is something that housing industry leaders should be thinking about — carefully. The history of housing.

Mortgage 485

Mortgage Housing Market Lending Finance 485

Housing Wire

FEBRUARY 3, 2021

Economists and housing experts say mortgage lending standards will likely loosen in 2021, despite the increased risk of delinquencies ahead. housing market. Such a scenario illustrates the growing disparities in the U.S.

Lending 545

Lending Mortgage Insurance Housing Market 545

Housing Wire

MARCH 23, 2023

However, with active listings now near all-time lows, the builders’ new homes still have more value in the housing market than what we saw in previous decades. Back in 2007 — after existing home sales got as low as we have seen in the recent data as the chart below shows — total active listings were above 4 million.

Inventory 544

Inventory Housing Market Construction Marketing 544

Housing Wire

JUNE 18, 2021

The housing market is no stranger to supply constraints. But according to Doug Duncan, chief economist at Fannie Mae , it’s not going to be just one of these factors that brings the market back to some semblance of normalcy. It’s going to take all of them. “It doesn’t just reappear,” Duncan said.

Supply Chain 398

Supply Chain Housing Market Marketing Inventory 398

Appraisal Buzz

MARCH 25, 2024

in 2021, hitting the worst level since 2007. “In Whether the overall market has soared or seen just modest gains in recent years, investors have missed out on the action.” ATTOM notes that margins for home flippers had already been declining during earlier years when the broader housing market was booming.

Renovations 334

Renovations Investors Inventory Sellers 334

Housing Wire

DECEMBER 21, 2022

On Wednesday, existing home sales collapsed near the lows we saw during COVID-19 and back in 2007 when the housing bubble burst. In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! Confused by this? I hear you; let’s dive deeper into today’s report.

Inventory 528

Inventory New Listings Housing Market Sellers 528

Housing Wire

MARCH 21, 2024

This is why we created the housing market tracker articles to keep everyone versed in forward-looking demand and the forward-looking demand was getting better as mortgage rates fell from 8% to below 7%. In 2007, they were 4 million. What I love about this data is that the days on the market are over 30 days.

Inventory 498

Inventory Housing Market Mortgage Marketing 498

Appraisal Buzz

JULY 8, 2024

However, the trends this year are particularly challenging for house hunters, more so than at any point since the housing market boom began in 2012.” of the average national wage in the second quarter – marking the high point since 2007 and standing well above the common 28% lending guideline.

Property Taxes 195

Property Taxes Buyers Insurance Lending 195

Housing Wire

MAY 3, 2024

Homebuilder constraints Unlike the prelude to the 2008 housing market crash, homebuilders today face unique challenges that mitigate the risk of overbuilding. After the last crash, builders scaled back significantly and never fully recovered to pre-2007 levels. In 2024, the housing market is set to continue on.

Inventory 382

Inventory Lending Inspection Real Estate 382

Housing Wire

MAY 14, 2021

Not to mention, during the 2007 housing market crash, some had just bought their first homes and unfortunately, lost their homes during the crash. It took a while for the housing market to bounce back. But that’s not the only reason this generation is shopping for their dream home now.

Housing Market 544

Housing Market Marketing Buyers Real Estate 544

Appraisal Buzz

JULY 29, 2024

Compared to ARMs, FRMs are now more common after the 2007 housing market crashed. Housing Markets The average retail price and the ARM share are positively correlated. A percentage point increase in the mortgage rate results in increased monthly payments and extra expenses for homebuyers. Examining ARMS Across U.S.

Mortgage 360

Mortgage Retail Housing Market Buyers 360