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2007 had ten times more housing supply than today

Sacramento Appraisal Blog

That’s what 2007 had compared to right now. Today I want to share a stunning supply visual for Sacramento, and talk briefly about what’s happening with sellers and prices. Enjoy if you wish.

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Single-family housing starts reach highest level since 2007

Housing Wire

Single-family housing starts continued their seven-month climb in November, coming in at the highest level since 2007, according to the Census Bureau. Additionally, permits for new single-family construction also rose to 2007 highs, potentially an indication that we might see the increase in homebuilding continue into early 2021,“ Kan said.

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The Similarities Between 2007 and Today

Appraisal Buzz

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. As appraisers, we faced tremendous pressure from buyers, sellers, real estate agents, and loan officers during the previous run-up.

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Credit data shows: There’s no housing crash coming

Housing Wire

As you can see in the chart below, the credit markets broke in 2005, 2006, 2007 and 2008, and then the job-loss recession of 2008 started, which made things much worse. We had a lot of stressed sellers back then! Look at the difference between this week in 2024 versus the same weeks in 2009-2011.

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How housing credit is shaping housing inventory

Housing Wire

Since most sellers are buyers, inventory should be stable if demand is stable. 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. So you can see why we have so few stressed sellers.

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Data breach at Nations Direct Mortgage impacts 83,000 borrowers

Housing Wire

Founded in 2007, Nations Direct Mortgage is a direct seller to Fannie Mae , Freddie Mac and Ginnie Mae , according to its website. The wholesale lender notified impacted individuals of the data breach at the end of February. Customers were notified of the protection services earlier this month.

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ATTOM: 2023 Not a Good Year for Home Flipping

Appraisal Buzz

in 2021, hitting the worst level since 2007. “In As that happened, the profit gap between investors and all sellers gradually widened. The average gross profit for a typical home flip in 2023 fell to $66,000, down from $70,100 in 2022, ATTOM says. The average rate of return on a typical home flip was 27.5%. That’s down from 28.1%