Housing Wire

JUNE 26, 2024

Homebuilders with unsold inventory are feeling the pinch of high mortgage rates — and it’s showing up in new-home sales data. According to Bright MLS, the 481,000 new homes on the market is the most since January 2008, when homebuilders pulled back on production before the financial crisis. year-over-year drop and was 11.3%

Inventory 459

Inventory Realtors Marketing Mortgage 459

Housing Wire

JULY 7, 2022

With a rapid spike in interest rates, inventory at historic lows, home prices rising at unprecedented levels above income, and a purchase market that is both highly anxious and digitally reliant, mortgage and real estate professionals must be strategic to capture the market opportunity today. Inventory rising, historically low.

Inventory 418

Inventory Marketing Mortgage Supply Chain 418

Housing Wire

MAY 7, 2023

Just when I thought it was safe to say we were getting more traditional spring housing inventory , we hit a snag last week, as active inventory and new listings declined. We had a lot of drama over the week between Federal Reserve meetings and banking stress, and mortgage rates and purchase applications both fell.

Inventory 505

Inventory Housing Market Marketing New Listings 505

Housing Wire

MARCH 26, 2023

These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. Here’s a quick rundown of the last week: The 10-year yield had a Lord of Rings battle at a critical technical level, pushing mortgage rates lower at the end of the week with no real break in the bond market.

Inventory 476

Inventory Housing Market Marketing Mortgage 476

Housing Wire

DECEMBER 8, 2021

2 million , we could be at risk of housing inventory falling to such low levels that I would have to categorize this housing market as unhealthy. This type of sales growth — which couldn’t happen from 2008-2019, as I have often stated — is coming with a hefty price tag. Not even 5% mortgage rates in 2018 budged this data line too much.

Inventory 525

Inventory Housing Market Marketing Mortgage 525

Housing Wire

MARCH 23, 2023

If there’s one sector of the economy that benefits from the very low levels of total housing inventory , it’s the homebuilders , but for a reason you might not think. If national housing inventory were back to normal, we would have 2 to 2.5 Rates did spike from 5.99% to 7.10% recently , impacting the data coming up.

Inventory 545

Inventory Housing Market Construction Marketing 545

Housing Wire

APRIL 11, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Wait, what?

Inventory 514

Inventory Housing Market Marketing Modernization 514

Housing Wire

APRIL 30, 2023

The spring housing market music is playing, and purchase application data and active listing inventory rose together last week. The fear of not having an increase in inventory this spring should be put to rest. The other focus should be where mortgage rates go; only a little happened last week.

Inventory 525

Inventory Housing Market Marketing New Listings 525

Housing Wire

JANUARY 16, 2023

Housing inventory increased by 1,339 homes nationwide. Mortgage rates fell along with bond yields, showing that mortgage rates peaked on Oct. The weekly inventory data, which had fallen faster than I had anticipated the last few weeks, has now seen a slight uptick. Purchase application data.

Inventory 534

Inventory Housing Market Marketing Mortgage 534

Housing Wire

NOVEMBER 18, 2022

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. As mortgage rates rose more and more, the October to January data was going to show big negative prints.

Inventory 493

Inventory Marketing Housing Market New Listings 493

Housing Wire

AUGUST 18, 2021

The previous economic expansion from 2008 to 2019 had the weakest housing recovery ever following the bust. During this period, household formation will create the mortgage demand needed to push applications to that level, and purchase applications did get to this level right before COVID-19 hit in February of 2020. Already a member?

Inventory 525

Inventory Buyers Business Mortgage 525

Housing Wire

OCTOBER 8, 2021

home prices are quickly shifting the affordability calculus for prospective homebuyers in 2021 — even though mortgage rates have remained near record lows. Despite average 30-year mortgage rates that have remained below 3% for most of 2021, the rapid home price increases are eroding affordability for average wage earners. Among 75 U.S.

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Renovations Inventory Marketing Property Taxes 543

Housing Wire

APRIL 2, 2021

The Mortgage Bankers Association expects this heightened pace to drop unemployment numbers to below 5% by the end of the year. Despite increased rate of tech adoption, the mortgage industry still has room for continued development and processes. March signified the highest number of residential construction workers since 2008.

Inventory 514

Inventory Construction Housing Market Business 514

Housing Wire

MARCH 29, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Wait, what?

Inventory 435

Inventory Housing Market Marketing Modernization 435

Housing Wire

SEPTEMBER 13, 2022

The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. Typically we have a natural set of new listings each year; inventory rises in the spring and summer and then falls in the fall and winter.

Mortgage 525

Mortgage Inventory New Listings Sellers 525

Housing Wire

JULY 6, 2022

As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. When people say credit will collapse down to 2008 levels, I kind of snicker and think, well, we can’t collapse to 2008 levels because credit availability is already there. It really is that simple, folks.

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Lending Mortgage Business Inventory 501

Housing Wire

FEBRUARY 24, 2024

Mortgage rates have risen recently but they could be much worse than they are today. Mortgage rates and the 10-year yield The 10-year yield is the key for housing in 2024. The most important data line for me, along with mortgage rates , is jobless claims data because I value labor data over inflation. That hasn’t happened.

Mortgage 505

Mortgage Inventory New Listings Housing Market 505

Housing Wire

DECEMBER 7, 2022

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? However, mortgage rates have fallen more than 1% since the recent highs, so it’s time to look at the data to explain how to interpret it.

Housing Market 544

Housing Market Mortgage Marketing Inventory 544

Housing Wire

JUNE 2, 2022

I always try to focus people on the total inventory data until we get inventory back into a range of 1.52-1.93 HousingWire: To add to that, since housing is in an inventory shortage, the market has changed, so the good news is inventory is growing. The big difference now than, let’s say, what we saw from 2002-2008.

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Training Inventory Housing Market Real Estate Agent 459

Housing Wire

APRIL 4, 2022

South Carolina-based Movement Mortgage laid off around 170 employees in March, another case of a top-25 mortgage lender paring back its workforce due to a more challenging origination landscape. . compared to the previous year, according to Inside Mortgage Finance. The higher-rate landscape is affecting all mortgage companies.

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Supply Chain Mortgage Retail Loan Officers 476

Housing Wire

JANUARY 27, 2023

On the other hand, mortgage rates have gone down more than 1% since Oct. The builders’ stock prices have done well as mortgage rates have fallen , and this illustrates the simplicity of the homebuilders’ position: their story is really about mortgage rates and moving products. months and above. But since Oct.

Mortgage 545

Mortgage Construction Buyers Inventory 545

Housing Wire

MARCH 21, 2023

9, when mortgage rates started to fall from 7.37% to 5.99%. In 2022, it was all about affordability as mortgage rates had a historical rise. Even though mortgage rates were falling in November and December, positive purchase application data takes 30-90 days to hit the sales data. Look at the Inventory data below.

Mortgage 511

Mortgage Housing Market Inventory Law 511

Housing Wire

SEPTEMBER 8, 2022

People’s first reaction was to wonder if this was 2008 all over again. Well, it isn’t 2008, but this type of loan does have risk — and it’s the risk that is traditional among all late economic cycle lending in America when the loan requires low or no downpayment. That is what has happened here in the U.S.

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Inventory Law Housing Market Design 544

Housing Wire

DECEMBER 21, 2022

In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! “The principal factor was the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. Plus, available housing inventory remains near historic lows.”

Inventory 531

Inventory New Listings Housing Market Sellers 531

Housing Wire

JUNE 8, 2022

I have separated my work into two different time frames: 2008-2019 and 2020-2024. In the years 2008-2019 we saw the weakest housing recovery ever. 2012: What they said: Shadow inventory will cause prices to fall. The reality: Inventory broke down in 2012, and the monthly supply data got below 6.0

Inventory 545

Inventory Housing Market Marketing Mortgage 545

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.

Mortgage 505

Mortgage Inventory Housing Market Construction 505

Housing Wire

AUGUST 13, 2023

Last week ended with a wild ride for mortgage rates. We anticipated the two inflation reports could help mortgage rates, however, we had a bad bond auction last Thursday, and the 10-year yield rose sharply. Weekly active inventory grew slowly again and purchase apps were down week to week again.

Mortgage 370

Mortgage Inventory New Listings Retail 370

Housing Wire

SEPTEMBER 28, 2020

million housing starts, not anytime from 2008-2019. Compare today’s housing market with that in 2018, when mortgage rates were heading toward 5% and monthly supply went above 6.5 The monthly supply of new homes was mostly higher every month in the previous expansion (2008-2019) than any period from 1996-2005. million a year.

Inventory 532

Inventory Buyers Housing Market Mortgage 532

Housing Wire

JUNE 7, 2021

During the previous economic expansion from 2008 to 2019, the housing market was subject to the constant refrain of build more homes. The previous economic expansion from 2008 to 2019 was the weakest housing recovery ever. Because that period followed a housing boom and bust when inventory was overbuilt.

Housing Market 545

Housing Market Marketing Inventory Construction 545

Housing Wire

MAY 18, 2024

Weekly housing inventory data For the third consecutive week, we haven’t quite reached my weekly target of inventory growth between 11,000 and 17,000 homes. However, we came close to our target with inventory growth of 9,726 and there’s a silver lining: mortgage rates have recently fallen.

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New Listings Inventory Mortgage Contracts 501

Housing Wire

OCTOBER 3, 2022

Home prices are now posting the biggest monthly declines since January 2009, according to the latest Mortgage Monitor report from Black Knight. The housing market has not seen such a significant two-month drop in prices since shortly after the collapse of Lehman Brothers in winter of 2008, Black Knight said on Monday. as of Sept.

Inventory 529

Inventory Home Value Housing Market Mortgage 529

Housing Wire

MAY 18, 2023

If we had a massive credit boom-to-bust, inventory would have skyrocketed in 2022. NAR Total Inventory Data going back to 1982. housing market inventory channels have changed due to how the U.S. This is not, nor can it ever be, like 2008. If it was like 2008, you’re about four to six years too early in 2023.

Housing Market 539

Housing Market Marketing Inventory Mortgage 539

Housing Wire

APRIL 25, 2023

You know, the one that says we have too much inventory and millions of vacant homes in the U.S.? The truth is, it’s not 2008 all over again. I understand the lure of the housing 2008 story. Imagine what the total housing market would look like if mortgage rates were at 5% today.

Inventory 501

Inventory Housing Market Construction Marketing 501

Housing Wire

MAY 3, 2024

Thanks to high mortgage rates , mortgage refinance rates, and even higher home prices , the vibe among homebuyers has been fairly bleak these past couple months. Serious buyers showed discernment as they know inventory is growing. To that I say, timing is everything in real estate. With only 1.3

Inventory 451

Inventory Lending Inspection Real Estate 451

Appraisal Buzz

SEPTEMBER 25, 2024

In fact, the last time the FOMC cut rates by half a point was during the 2008 global financial crisis. The Fed’s initial cut is likely to bring more buyers and sellers to market, potentially opening the inventory floodgates and momentum for price competition. An estimated $1.45

Mortgage 393

Mortgage Loan Officers Technology Contracts 393

Housing Wire

NOVEMBER 11, 2022

While elevated mortgage rates, sluggish home sales and high inflation have taken a significant toll on the housing industry, it’s unlikely that these issues will cause home prices to drop next year, at least according to National Association of Realtors (NAR) Chief Economist Lawrence Yun. A normal spread would revive the economy.

Inventory 508

Inventory Housing Market Realtors Mortgage 508

Housing Wire

MAY 23, 2024

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pretax net loss of $645 on each loan they originated in the first quarter of 2024 — a decrease from the average loss of $2,109 per loan in Q4 2023, according to the Mortgage Bankers Association ’s (MBA) newest quarterly performance report.

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Retail Mortgage Valuation Inventory 476