Housing Wire

FEBRUARY 5, 2024

Additionally, the competition from existing home sellers was somewhat absent. In 2011, only 13% of homebuilders worried about the cost of labor, versus 87% in 2019. An estimated 668,000 new homes were sold in 2023, 4.2% more than the figure of 641,000 in 2022, according to the U.S. Census Bureau and the U.S.

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Construction Housing Market Buyers Sellers 468

Housing Wire

SEPTEMBER 8, 2022

On the seller side, 35% said it was a bad time to sell, rising from 27% in July. Following a slow down in home price appreciation , prices slipped 0.77% in July from June, marking the largest single-month decline in the housing market since January 2011, according to Black Knight. Year over year, the index is down 13.7

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Housing Wire

DECEMBER 7, 2022

These were forced credit sellers, which means these sellers don’t sell to buy a home like a traditional seller does. Since they were distressed forced sellers, inventory skyrocketed in 2006 and stayed very elevated in 2007 and 2008. As we can see below, none of that is happening today because the seller isn’t stressed.

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Housing Wire

DECEMBER 30, 2023

Since I believe most home sellers are also homebuyers, once new listings created a new low level after mortgage rates reached over 6% in 2022, it added another layer of home demand falling off a cliff. From 2008-2011, new listings data averaged between 250,000 and 400,000 , peaking near 400,000 in 2011.

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Inventory New Listings Housing Market Mortgage 521

Housing Wire

OCTOBER 10, 2022

“The HPSI declined this month to its lowest level since October 2011,” Doug Duncan, Fannie Mae’s senior vice president and chief economist, said in a statement. Moreover, 75% of consumers still think it’s a bad time to buy a home, with most citing high home prices and unfavorable economic and mortgage rate conditions as primary reasons.”.

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Housing Wire

JUNE 29, 2024

Today, we will examine new listing data more extensively to provide a clear example of a stressed seller market and compare that to where we are today. The last time we had a stressed seller market was when national home prices crashed in 2008-2011 and even with more inventory , we’re nowhere close to those levels.

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Housing Wire

NOVEMBER 19, 2024

The typical age of a home seller has recently reached a new high of 63, and many of this group bought their homes during another time of affordability challenges in the 1980s. As a frame of reference, in 2011, the collective level of senior-held equity sat at roughly $3 trillion. There was an estimated 3.97% (or $624.6

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Home Value Mortgage Sellers Finance 418

Housing Wire

NOVEMBER 10, 2023

metropolitan areas since 2011. FHA loan usage increases in September As sellers field fewer offers, buyers with FHA loans may have greater luck to close on a home. Oakland, California, and San Jose, California, as well as Seattle posted the smallest share of all-cash transactions at 18%, 18.2% and 20.3%, respectively. in April 2023.

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Housing Wire

MARCH 23, 2024

We’re not seeing seller stress in the inventory data but just a typical increase in inventory when rates are higher, which looks perfectly normal. Weekly housing inventory data The best housing story for 2024 so far is that inventory is growing yearly. The growth isn’t just in active inventory but also new listings.

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Mortgage Inventory New Listings Housing Market 521

Housing Wire

OCTOBER 20, 2022

Buyers, builders and sellers take a step back as inflation persists . On the heels of heightened mortgage rates and persistent inflation, buyers, builders and sellers have taken a step back to consider their best course of action. Sellers are responding to the shift in the market and pulling back on listing activity, resulting in a 9.8%

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Mortgage Sellers Buyers New Listings 435

Housing Wire

DECEMBER 21, 2022

.” One of the housing economic realities that I have been trying to stress this year is that a traditional seller of a home is typically a buyer as well. This explains why total active listing inventory data has been stable over the decades, with the exception of 2006-2011, when those forced distressed credit home sellers couldn’t buy.

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Inventory New Listings Housing Market Sellers 531

Housing Wire

JANUARY 20, 2023

The one period where this didn’t happen was from 2006-2011, when credit forced Americans to sell, to rent or to be homeless. Outside of that time period, everything else from 1982 to 2023 was normal. If you believe people sell to become homeless, then you’re in the group of people that have simply not read housing data for decades.

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Inventory Housing Market New Listings Marketing 541

Housing Wire

AUGUST 8, 2022

its lowest reading since 2011. On the seller side, 67% said it was a good time to sell, down from a peak of 76% in May. Please introduce us to the brave 17% of consumers who think now is a good time to buy a home. Fannie Mae’s Home Purchase Sentiment Index fell two points in July to 62.8, Year over year the index is down 13 points.

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Mortgage Sellers Housing Market Real Estate 370

Housing Wire

JANUARY 19, 2024

To give you all some perspective, this data line dropped all the way to 14 days in the crazy period of COVID-19, while back in 2011, it was 105 days. This is a positive for housing in 2024 as most sellers are buyers.

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Housing Wire

MARCH 13, 2024

These rate hikes come as the Insurance Information Institute estimated that 2023 was the worst year for underwriting losses by home insurers since 2011. But if there was a new roof, it would be $2,800 a year, so we ended up renegotiating with the seller for a new roof,” Clarkson explained.

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Appraisal Buzz

JULY 16, 2024

Sellers are increasingly cutting prices to entice buyers struggling with affordability,” said Dr. Skylar Olsen, Chief Economist for Zillow. Homes sold in June were typically on the market for 15 days before the seller accepted an offer. marking the slowest June appreciation since 2011. elementor-widget-text-editor:not(.elementor-drop-cap-view-default).elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default).elementor-drop-cap-lett

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Appraiserblogs

NOVEMBER 7, 2023

Could it be because of the racial bias complaint filed against me by an unhappy Seller… Fannie Mae accomplished what they set out to do in July 2011, when they initiated their Uniform Appraisal Dataset (UAD) and the Uniform Collateral Data Portal. So what’s caused the sudden loss of income?

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Housing Wire

DECEMBER 3, 2020

Notably, in 2011, existing home prices in Ada County were at $160,113. They bid $750,000 and again at $775,000, which the seller said would work. In Ada County specifically, where Boise is located, the number of homes for sale dropped from 1,697 last October to just 355 in October 2020, a 79% decline.

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Marketing Realty Housing Market Realtors 534

Housing Wire

MAY 26, 2022

However, the spike in inventory that we saw from 2006 to 2011 can be attributed to the massive credit bubble we had from 2002 to 2005. These two factors were happening from 2006 to 2011 and added supply to the market. You don’t want to overcomplicate this topic. Credit stress was evident from 2005 to 2008.

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Inventory Housing Market Construction Marketing 526

Housing Wire

JUNE 22, 2023

To understand the profile of the loans, Nevada-based mortgage banking company Village moved its focus to the Federal Housing Administration (FHA) Streamline Refinance program in 2011, per its website. According to Dubeck, Planet remains a “liquidity provider to mid- and smaller-tier issuers, providing competitive prices to sellers.

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Lending Mortgage Sellers Finance 370

Housing Wire

DECEMBER 20, 2023

The marketplace data told us we had no stressed sellers in 2023. In 2011, the days on the market were 105 days, and we had a massive distress supply, hitting the markets with a job loss recession. NAR: Total housing inventory at the end of November was 1.13 million units, down 1.7% from October but up 0.9% from one year ago (1.12

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Housing Market Marketing Inventory Realtors 482

Housing Wire

FEBRUARY 8, 2024

11 of last year found that 27,700 violent crimes had been reported in the city, marking the highest level of violent crime in Chicago since 2011. While there is no doubt it is a seller’s market in Peoria, Van Cleve said many potential sellers are hesitant to list. A CBS Chicago analysis of police data from Jan. 1 through Dec.

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Inventory Agents Housing Market Luxury Properties 468

Housing Wire

OCTOBER 17, 2024

In 2011, he founded the innovative brokerage The Agency RE, and he recently launched a real estate agent trade group that aims to serve as an alternative to the National Association of Realtors (NAR). If you analyze how a commission is paid, a commission has always been paid by the buyer, not by the seller.

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Housing Wire

MARCH 9, 2022

from the fourth quarter of 2011 through the fourth quarter of 2021, according to NAR, and as of Q4 2021, the median single-family existing-home sales price rose by at least 10% in 67% of 183 metro areas tracked by NAR. “These escalating home values were no doubt beneficial to homeowners and home sellers,” Yun said in a statement.

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Home Value Realtors Marketing Inventory 468

Housing Wire

APRIL 20, 2023

For some historical context, back in 2011, this data line was 101 days. Stable demand, low housing inventory, and no forced sellers are why we created the weekly Tracker, to focus on accurate data and what matters most to housing economics and the U.S. As we can see in the data below, the days on the market fell back down to 29 days.

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Inventory Housing Market Marketing New Listings 531

Appraisal Buzz

JUNE 25, 2024

Sustained outperformance of the Northeast market was last observed in 2011. million in April.” “Despite the slower pace of sales activity, home sellers were somewhat more willing to engage with the market. The Northeast is the best performing market for the previous nine months, with New York rising 9.4%

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Inventory Housing Market Marketing Sellers 356

Housing Wire

SEPTEMBER 22, 2022

A traditional primary resident seller is also a buyer, which means if they don’t list, they’re not just taking a potential home to be bought off the table — they’re taking a future sale off the books as well. However, it’s not the market of 2002-2011. From NAR Research : “Total existing-home sales notched a minor contraction of 0.4%

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Inventory Housing Market New Listings Mortgage 482

Housing Wire

OCTOBER 1, 2022

In comparison, in 2011, homes took 96 days to sell. . While it is not the high seen during the First-time Home Buyer Tax Credit in 2010, it is also not the historical norm of 40% seen in the annual Profile of Home Buyers and Sellers report. Unfortunately, the share of first-time buyers remains suppressed at just 29% last month.

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Realtors Housing Market Marketing Buyers 418

Housing Wire

SEPTEMBER 7, 2022

It launched an interactive media platform as well in the fall of 2021, called Glocaly, which serves as a listing and marketing exchange for matching sellers and buyers of condos. Between 2011 and the end of 2021, Japanese companies operating in Texas accounted for a total of some $6.8

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Development Real Estate Luxury Properties Construction 397

Housing Wire

AUGUST 24, 2023

However, persistently high mortgage rates pose a significant affordability challenge to buyers and sellers (not to mention the workers of a trillion dollar-plus industry). We could see monthly sales fall to 2010 or 2011 levels when the market was recovering from the free fall after the housing bubble.”

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Mortgage Property Taxes Investors Buyers 370

Housing Wire

MAY 24, 2022

I know some people don’t agree with me on this, but the price gains in both the existing home and new home sales sector show that homebuilders and sellers had too much pricing power and needed to be checked. Still, the existing home sales market has an active seller who decides to sell their home to buy another one or rent.

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Housing Market Inventory Construction Marketing 418

Inman

FEBRUARY 21, 2023

Finkelstein Reader initially joined Keller Williams in 2011 as the leader of the Laurie Finkelstein Reader Real Estate Team. Her team served buyers and sellers in Broward County, Florida.

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Brokerage Real Estate Sellers Buyers 148

Housing Wire

DECEMBER 29, 2021

Home sellers strive to get the highest price from the best offers and homebuilders have the pricing power over consumers. Another aspect that doesn’t get enough attention because it’s a hard look in the mirror: We all get greedy when we have pricing power — it’s the nature of the beast.

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Housing Market Marketing Construction Mortgage 534

Miller Samuel

APRIL 7, 2020

About ten days ago the listing was modified by raising the price to $100,000 and throwing in a 2011 Subaru, linens, televisions, etc. The seller is definitely not the problem. The owner in the article said: “I rented property in the past. It’s too much hassle. My trust level is pretty low with renters.”. This house is live-in ready.

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Modernization Design Sellers Training 221

Housing Wire

AUGUST 30, 2022

One of the issues with existing home inventory has been that, for the most part, a traditional seller is usually a buyer of a home. As I have stressed, people need to be patient with inventory growth and not run 2002-2011 credit sales to inventory models for this marketplace. million , like I have talked about for some time now.

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Inventory New Listings Law Housing Market 397

Housing Wire

JANUARY 5, 2023

I have been forecasting since 2010 and I’ve only predicted price declines for 2011 and 2012. Existing home sales fell very fast in 2022 due to higher mortgage rates and a lack of new listing growth, which meant the number of traditional sellers who bought a home was much lower in 2022.

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Housing Market Marketing Inventory New Listings 543

Hank Miller Team

JANUARY 23, 2023

understand that it's not the spring of 2011. The current market slightly favors sellers but it's nothing like it was. Buyers fade late as sellers try to catch the last wave, and miss. 0-3 months tends to favor sellers, 3-6 is balanced and over 6 favors buyers. It's not 2011. Home buyers had a rough couple of years.

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Buyers Inventory Agents Contracts 98