Housing Wire

DECEMBER 29, 2022

As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. A few months ago, I was asked to go on CNBC and talk about why I call this a housing recession and why this year reminds me a lot of 2018, but much worse on the four items above.

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Housing Wire

DECEMBER 17, 2020

Single-family housing starts continued their seven-month climb in November, coming in at the highest level since 2007, according to the Census Bureau. Housing starts rose 1.2% Single-family housing starts rose 0.4% Single-family housing starts rose 0.4% in November compared to October and are up 12.8% The reason?

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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.

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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.

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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.

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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. This week’s trading in the bond market will be exciting with the upcoming inflation data.

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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. I would prefer 30-45 days. months in 2008.

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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.

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Housing Wire

DECEMBER 7, 2022

Now, with five weeks of data in front of us, we can say they have stabilized the market. Since they were distressed forced sellers, inventory skyrocketed in 2006 and stayed very elevated in 2007 and 2008. Also, I believed the risk to the housing market was if home prices grew more than 23% over the five years of 2020-2024.

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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.

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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.

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Housing Wire

OCTOBER 20, 2020

Single-family housing starts in September were at an annual rate of 1.108 million, which is 8.5% above the revised August figure of 1.021 million, and a level not seen since 2007, Doug Duncan, chief economist at Fannie Mae , said. million annualized units, a level not seen since 2007. . “While starts were up 10.4%

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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.

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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. The banking crisis has stressed the mortgage backed securities market , pushing rates higher than usual. Mortgage rates rose to 6.57%.

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Housing Wire

NOVEMBER 19, 2020

Days on market fell from 36 days to 21 days on a year-over-year basis. The housing market is hot. You may be told that future moderation indicates “cracks in the housing market, but don’t buy into it. Second, housing tenure is currently at 10 years, double what it was from 1985 to 2007.

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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

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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.

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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.”. “The Both a pullback in demand and limited supply remain vexing problems for the housing market.

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Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. “A small offset or decline in home values, which we are starting to see, (…) can help that consumer who’s in the market for the first time,” Brown said.

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Housing Wire

APRIL 8, 2022

In time, markets always find balance and balance is a good thing. But, that doesn’t mean housing is going to crash. I set a specific home-price growth model for the years 2020-2024 that said if home prices only grew at 23% during this five-year period, the housing market would still be OK, given wage growth.

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Housing Wire

NOVEMBER 18, 2022

On a positive note, however, the days on the market are no longer a teenager anymore: that metric grew from 18 days to 21 days. I cheer because the savagely unhealthy housing market theme I talked about back in February of this year was the same premise of the housing reset talking point the Federal Reserve uses.

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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. million, we aren’t back to normal levels yet.

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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.

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Housing Wire

OCTOBER 19, 2023

for the first time since 2007, according to one index. Both indexes showed higher rates than the Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, and recorded the 30-year, fixed-rate mortgage at 7.63% as of Oct. 19, up 6 basis points from the prior week.

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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.

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Housing Wire

DECEMBER 19, 2022

Local markets is a HousingWire magazine feature spotlighting housing trends across the country. Affordable housing prices combined with a vibrant history and a thriving culinary scene have certainly made Derby City a popular destination for homebuyers. However, even Louisville’s active housing market has slowed down recently. “I

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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.

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Sacramento Appraisal Blog

AUGUST 23, 2023

Rates have gone up, but have they sucked all the demand out of the market? Also, someone asked if the stock market is connected to the housing market, so l made a cool graph. Let’s talk about that today by looking at a few stats.

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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.

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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.

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Housing Wire

MAY 5, 2021

That’s why we’ve invited vice president of regional production at loanDepot Brian Covey to speak on a panel titled Building a Personal Brand at HousingWire’s virtual Engage Marketing event on June 17. His mortgage career was affected by the 2007 market crash just as he was raising toddlers with his wife Nicole. .

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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.

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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.

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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.

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Eyes on Housing

OCTOBER 20, 2021

Despite the volatility surrounding the recent COVID-19 pandemic, the housing market has shown remarkable resilience, fueled by demographic tailwinds and a housing shortage due to a decade of underbuilding.

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Housing Wire

MAY 3, 2024

As a result, sellers who are winning in this market spent time making sure their homes are in show-ready condition. These buyers understand that more inventory is coming to the market and that they will have options. After the last crash, builders scaled back significantly and never fully recovered to pre-2007 levels.

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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. HousingWire Magazine delivered to your home or office.

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