2015, Contracts and Housing Market - Property Appraisal Zone

Housing Market Tracker: Mortgage rates and inventory fall together

Housing Wire

MARCH 26, 2023

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. In a regular market, they would be closer to 5.25%.

Inventory

Inventory Housing Market Marketing Mortgage

Home equity is the bright gem of the housing market

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. Our previous best year for HELOCs was 2015, and that was about $320 million,” he added.

Housing Market

Housing Market Marketing Contracts Lending

Housing demand firming up with lower mortgage rates

Housing Wire

SEPTEMBER 28, 2024

Housing demand is very seasonal, so the fact that our pending contract data is firming up lately just shows that lower mortgage rates have stabilized and firmed up demand recently. However, considering the affordability challenges with the housing market , it’s good to see a flip in the housing data without rates getting under 6%.

Mortgage

Mortgage Inventory New Listings Contracts

Can mortgage rates go even lower?

Housing Wire

AUGUST 4, 2024

Weekly housing inventory data The best story in 2024 has been inventory growth. We can’t have a functional housing market with the inventory levels we saw from 2020-2023. This year we’ve gotten enough inventory growth to create a buffer so we don’t have another savagely unhealthy housing market when mortgage rates fall.

Mortgage

Mortgage Inventory New Listings Housing Market

Why housing demand is now showing year-over-year growth

Housing Wire

OCTOBER 19, 2024

We have had three weeks of positive year-over-year growth in both purchase application data and weekly pending contract data, with last week showing a noticeable jump from last year. So, context is critical with housing data, especially in October. Let’s look at this week’s numbers. Weekly inventory change (Oct 11-Oct.

Inventory

Inventory New Listings Mortgage Contracts

New listings data is growing and prices still aren’t crashing

Housing Wire

JUNE 29, 2024

2015 81,875 2016 80,293 2017 84,293 2018 98,972 2019 87,278 Now, let me show you what stressed sellers’ data looks like. The numbers speak for themselves and if anyone you know has been saying housing looks like 2008 for the past 10 years, I will tell you that the person doesn’t read.

New Listings

New Listings Inventory Contracts Sellers

Fintech Maxwell acquires digital lending platform Revvin

Housing Wire

SEPTEMBER 27, 2023

That is Maxwell’s second acquisition since its inception in 2015. Maxwell acquired LenderSelect Mortgage Group from Blue Ridge Bank in May to expand its secondary market trading platform, bringing hundreds of new clients to the company’s other solutions. The financial terms of the transaction have not been disclosed.

Lending

Lending Technology Loan Officers Clients

Will the NAR settlement changes slow down home-buying?

Housing Wire

AUGUST 24, 2024

The last time we saw this kind of effect was when mortgage lenders had to start incorporating TRID in 2015 — it created a one-month crash in existing home sales because it just took a bit longer to close a deal. The following month, those sales rebounded as everyone finds a rhythm in how to operate. Weekly inventory change (Aug.

Inventory

Inventory New Listings Sellers Mortgage

Housing inventory falls as mortgage rates drop

Housing Wire

SEPTEMBER 1, 2024

Many months ago, I talked about the softer labor market and how that should make mortgage rates fall, which it has. And I feel much better about the housing market now with more inventory, which I talked about on CNBC recently. Weekly inventory change (Aug. 2024 is the second-lowest new listing year recorded in history.

Inventory

Inventory Mortgage New Listings Housing Market

Zillow believes the evolution of the industry will only help it grow

Housing Wire

MAY 1, 2024

In a hostile housing market and a noisy industry environment, why is Zillow outperforming?” Barton added that since 2015, Zillow has shrunk its Premier Agent partner base by roughly 60%, while increased its Premier Agent revenue by more than 2.5 he posited.

Real Estate

Real Estate Agents Contracts Real Estate Agent

Is mortgage demand really picking up?

Housing Wire

JUNE 22, 2024

Here are the price-cut percentages for last week over the previous few years: 2024: 37% 2023: 32% 2022: 29% Pending sales Below is our weekly pending contract data year-over-year to show real-time demand. This contract data will grow if mortgage rates head lower and stay lower.

Mortgage

Mortgage Inventory New Listings Contracts

New listings have peaked for 2024: It’s the second-lowest year on record

Housing Wire

JULY 27, 2024

Most sellers are buyers and the housing market needs standard new listing data for the rest of the year. Here are the price-cut percentages for last week over the previous few years: 2024: 39% 2023: 34% 2022: 36% Pending sales Below is the Altos Research weekly pending contract data year-over-year to show real-time demand.

New Listings

New Listings Inventory Mortgage Sellers

How much longer will we have to deal with higher mortgage rates?

Housing Wire

JUNE 8, 2024

Here are the price cut percentages for last week over the previous few years: 2024: 36% 2023: 31% 2022: 26% Pending sales One of the new data lines we will start incorporating in the tracker is Altos’ pending contract data — this will give people a better idea of how future sales will go.

Mortgage

Mortgage Inventory New Listings Contracts

Lower mortgage rates attracting more homebuyers

Housing Wire

SEPTEMBER 15, 2024

2023: 37% 2022: 41% Weekly pending sales Below is the Altos Research weekly pending contract data to show real-time demand. Weekly inventory change (Sept. 13): Inventory rose from 703,646 to 713,660 The same week last year (Sept. Since most sellers are buyers, this data must return to normal before seeing real, long-lasting sales growth.

Mortgage

Mortgage Inventory New Listings Retail

Have higher mortgage rates already reversed housing demand?

Housing Wire

OCTOBER 5, 2024

Weekly pending sales Below is the Altos Research weekly pending contract data to show real-time demand. 2024: 60,655 2023: 58,103 2022: 58,083 Price-cut percentage In an average year, one-third of all homes take a price cut — this is standard housing activity. Weekly inventory change (Sept.

Mortgage

Mortgage Inventory New Listings Retail

How have two hurricanes impacted housing inventory?

Housing Wire

OCTOBER 13, 2024

Weekly pending sales Below is the Altos Research weekly pending contract data to show real-time demand. National data: Weekly inventory change (Oct. 11): Inventory fell from 734,290 to 732,410 The same week last year (Oct. Recently it has been minimal but history says that doesn’t last, especially if rates go higher.

Inventory

Inventory New Listings Retail Mortgage

Are these the lowest mortgage rates we’ll see in 2024?

Housing Wire

SEPTEMBER 22, 2024

2023: 37% 2022: 41% Weekly pending sales Below is the Altos Research weekly pending contract data to show real-time demand. Weekly inventory change (Sept. 20): Inventory rose from 713,660 to 725,249 The same week last year (Sept. Since most sellers are buyers, this data must return to normal before seeing real, long-lasting sales growth.

Mortgage

Mortgage Inventory New Listings Contracts

Lower mortgage rates are slowing down inventory growth

Housing Wire

AUGUST 17, 2024

2023: 36% 2022: 39% Weekly pending sales Below is the Altos Research weekly pending contract data year-over-year to show real-time demand. Weekly inventory change (Aug. 9-August 16): Inventory grew from 692,752 to 698,473 The same week last year (Aug.11-Aug We are only showing an pinch of growth year over year.

Inventory

Inventory Mortgage New Listings Contracts

The Week Ahead: Senate Turns Spotlight on CFPB

Appraisal Buzz

JUNE 7, 2024

Chopra previously served at the CFPB from 2010-2015. The CFPB has issued “CFPB Circular 2024-03: Unlawful and Unenforceable Contract Terms and Conditions ,” warning against the use of unlawful or unenforceable terms and conditions in contracts for consumer financial products or services.

Contracts

Contracts Insurance Legal Business

Can mortgage rates go even lower?

Housing Wire

SEPTEMBER 7, 2024

2023: 36% 2022: 40% Weekly pending sales Below is the Altos Research weekly pending contract data to show real-time demand. Weekly inventory change (Aug. 6): Inventory fell from 704,335 to 703,646 The same week last year (Sept. Even though 2024 will be the second lowest year ever, it’s still a positive that we had growth this year.

Mortgage

Mortgage Inventory New Listings Marketing

New listings data falls for third week in a row

Housing Wire

MAY 18, 2024

The moves haven’t been significant and our weekly pending contracts data picked up this week. I usually wouldn’t care too much about this as its a data line that can be volatile week to week but now it’s been three weeks. But, we need to see more growth in new listings data just to grow from 2023 levels.

New Listings

New Listings Inventory Mortgage Contracts

The housing market is better positioned for lower mortgage rates

Housing Wire

JULY 6, 2024

This is precisely what the doctor ordered for the housing market. In March of 2022, we only had 240,000 active single-family homes available for sale, leading me to call the housing market savagely unhealthy as we simply had too many people chasing too few homes. Last week, we returned close to recent lows.

Housing Market

Housing Market Mortgage Inventory Marketing

Houston Housing Market Forecast: Current Data & 2021 Predictions

Houston Properties

JANUARY 13, 2021

Houston Housing Market Forecast: Current Data & 2021 Predictions. Concerned about a housing market crash? SUMMARY: Coming off a record year, the Houston real estate market started 2021 in a seller’s market. Properties are still going under contract. Worried about missing out on a boom?

Housing Market

Housing Market Marketing Real Estate Realtors

Rise above the panic, for the housing market’s sake

Housing Wire

APRIL 7, 2023

Reading headlines or, in this case, Tweet threads , rooted in the “demise of the market,” tend to create false pretenses that sway investment decisions, often when they shouldn’t. When this back and forth was unfolding, mortgage demand rose 2.9%

Retail

Retail Real Estate Clients Modernization

Help for troubled borrowers is on the way. But will it come soon enough?

Housing Wire

DECEMBER 20, 2021

In 2015, the family paid $250,000 for a 2,900-square-foot house in Ormond Beach, Florida. These contracts lack protections that accompany mortgages, such as forbearance plans and foreclosure procedures. “We If the program does break right, the benefits for the housing market are clear. But will end in December.

Mortgage

Mortgage Government Contracts Insurance

Housing inventory up almost 40% over last year

Housing Wire

JULY 20, 2024

We finally have six weeks of numbers that hit my housing inventory growth model perfectly in 2024. Low inventory has plagued the housing market since the pandemic, plummeting to all-time lows in March of 2022 when we only had 240,000 single-family homes available for sale. Today that number is 668,383.

Inventory

Inventory New Listings Contracts Mortgage

OK to average adjusted comps on appraisals?

Appraisal Today

DECEMBER 8, 2023

The process took several years of securing building permits, and the house was completed in 2015. That’s partly because sale-price data is a lagging indicator, reflecting deals that went under contract a month or two ago. Weekly housing-market data goes back through 2015. The four-bedroom, 4.5-bath

Appraisal

Appraisal Real Estate Contracts Design

Will Springer Realtor - Untitled Article

Will Springer Realtor

APRIL 14, 2023

APRIL HOUSING UPDATE The signs are generally pointing in the right direction for our local (and national) residential real estate scene, but it is taking more time than usual to turn a cruise-ship-sized sector around without leaving damage in its wake.

Contracts

Contracts Buyers Housing Market Design

Mortgage rates head lower, helped by better mortgage spreads

Housing Wire

JULY 13, 2024

Here are the price-cut percentages for last week over the previous few years: 2024: 38% 2023: 33% 2022: 33% Pending sales Below is the Altos Research weekly pending contract data year-over-year to show real-time demand. These are live weekly contracts, compared to the purchase application data, which looks out to 30-90 days.

Mortgage

Mortgage New Listings Inventory Contracts

ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

MAY 10, 2024

To read more, Click Here To read the listing with a virtual tour and 111 photos, Click Here == Some red flags for the housing market By Ryan Lundquist, May 2, 2024 Excerpts: Consumers are feeling economic pain, and we need to talk about some of the things that are brewing. From 2015 to 2018, there were 5 significant fires.

Reconsideration of Value

Reconsideration of Value Appraisal Real Estate Insurance

Can mortgage rates keep falling? Job market data is key

Housing Wire

JUNE 15, 2024

Here are the price-cut percentages for last week over the previous few years: 2024: 36% 2023: 31% 2022: 27% Pending sales Below is our weekly pending contract data on a year-over-year basis to show demand in real time. As most sellers are buyers, seeing more sellers listing their homes has been good.

Mortgage

Mortgage Inventory Marketing New Listings

Too many appraisers?

Appraisal Today

JUNE 10, 2022

Hot housing market not a bubble, economists say. Excerpts: As home prices continue to break growth records, a panel of housing experts and economists surveyed by Zillow® does not believe the market is in a bubble. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 5.30

Appraisal

Appraisal Contracts Business Mortgage

Mortgage rates hold steady at key level for now

Housing Wire

FEBRUARY 24, 2024

17-24), Inventory fell from 437,282 to 430,395 The recent inventory bottom was in 2022 at 240,194 The inventory peak for 2023 was 569,898 For context, active listings for this week in 2015 were 958,304 New listings data New listings data is growing year over year and increasing week to week, but I wish we were seeing more significant growth.

Mortgage

Mortgage Inventory New Listings Housing Market

Will a wider war in the Middle East push mortgage rates higher or lower?

Housing Wire

APRIL 13, 2024

Inventory bottomed out on April 14 last year, which was the longest time it took for the housing market to find a seasonal bottom ever. I am a big fan of the inventory growing year over year based on new listing data, and this is a big plus for the housing market.

Inventory

Inventory Mortgage New Listings Retail

VA Update for Appraisers

Appraisal Today

OCTOBER 28, 2022

“Refinance applications were essentially unchanged, but purchase applications declined 2 percent to the slowest pace since 2015 – over 40 percent behind last year’s pace. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 7.16 percent from 6.94

Appraisal

Appraisal Contracts Mortgage Valuation

Home Sales are Falling in Cuyahoga County While Prices Continue to Increase

Cleveland Appraisal Blog

MAY 18, 2023

In April, we saw the lowest number of monthly single-family home sales in Cuyahoga County since 2015. (I And I found sales that supported the contract price that had sold within the past month. I should note that this is not the same with every segment of the market. The housing market is in a catch twenty-two.

Inventory

Inventory Real Estate Agent Appraisal Real Estate

Unacceptable Appraisal Practices from Freddie Mac

Appraisal Today

NOVEMBER 10, 2022

heard someone talk about the housing market as if it was a parked car, but I emphatically disagree with the analogy because the market hasn’t literally stopped. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 7.14 percent from 7.06

Appraisal

Appraisal Real Estate Agent Real Estate Contracts

The new home sales recession continues

Housing Wire

AUGUST 23, 2022

The housing market is in a recession, something that the homebuilders and the National Association of Realtors now agree with me on, as this recent CNBC clip shows. Over the years, I have tried to emphasize that the housing market in the U.S. We had missed sales estimates in 2013, 2014 and 2015. This is 12.6

Construction

Construction Housing Market Sellers Marketing

Appraising Factory-Built Houses

Appraisal Today

JUNE 14, 2024

Factory-Built Houses: Types, Benefits, and Tips for Appraisers By Dan Bradley Excerpts: Factory-built houses are an important, yet often overlooked, part of the American housing market. Approximately 10% to 12% of new housing starts in the United States are factory-built. percent from 0.3 percent the week prior.

Appraisal

Appraisal Sellers Contracts Insurance

The appraisal industry’s hidden hand

Housing Wire

JUNE 28, 2021

He started contracting with home mortgage lenders to appraise the value of the property tied to a loan. “It I have always been good with numbers, and I enjoy looking at houses,” he said. But DeZarn was an independent contractor business of one, and he lost his clients in 2008 when the housing market imploded.

Appraisal

Appraisal Valuation Business Contracts

RISING INFLATION, RATES TRIP UP HOUSING MARKET

Will Springer Realtor

JULY 8, 2022

The screeching you heard in June was the sound of brakes being applied to the housing market across the U.S. The King County housing market has seen inventory increase by 55% in the past month, while the number of homes going under contract fell 22% from May to the lowest June level since 2011. Not really sure.”.

Housing Market

Housing Market Marketing Inventory HOA

Appraising Airbnb Properties

Appraisal Today

SEPTEMBER 8, 2023

It’s been on and off the market since 2014, four years after a lengthy construction project there was completed. Still on the market for the same amount in 2015, the eye-popping property ranked as one of the most viewed homes on Realtor.com®. The average contract interest rate for 15-year fixed-rate mortgages decreased to 6.66

Appraisal

Appraisal Contracts Business Construction

The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate

Miller Samuel

MARCH 19, 2019

That article came out in 2014 right as the housing market was peaking. January: The closing of the $238,000,000 Manhattan condo sale in January (2015 contract). With the news of this new tax, we expose the market to a panic selloff as existing owners look to take their lumps and get out as new sales pause.

Real Estate

Real Estate Law Development Investors

Appraisal Time Adjustments Underutized

Appraisal Today

JANUARY 12, 2024

Since Fannie started focusing on UAD analysis around 2015, losing business because of negative market conditions has almost stopped. My market is very volatile. 2024 Housing Market Predictions and Insights for Appraisers January 8, 2024 By Kevin Hecht Mortgage rates The 30-year fixed mortgage rate is predicted to average 6.5–6.8%

Appraisal

Appraisal Contracts Mortgage Marketing

Housing Market Tracker: Mortgage rates and inventory fall together

Home equity is the bright gem of the housing market

Trending Sources

Housing demand firming up with lower mortgage rates

Can mortgage rates go even lower?

Why housing demand is now showing year-over-year growth

New listings data is growing and prices still aren’t crashing

Fintech Maxwell acquires digital lending platform Revvin

Will the NAR settlement changes slow down home-buying?

Housing inventory falls as mortgage rates drop

Zillow believes the evolution of the industry will only help it grow

Is mortgage demand really picking up?

New listings have peaked for 2024: It’s the second-lowest year on record

How much longer will we have to deal with higher mortgage rates?

Lower mortgage rates attracting more homebuyers

Have higher mortgage rates already reversed housing demand?

How have two hurricanes impacted housing inventory?

Are these the lowest mortgage rates we’ll see in 2024?

Lower mortgage rates are slowing down inventory growth

The Week Ahead: Senate Turns Spotlight on CFPB

Can mortgage rates go even lower?

New listings data falls for third week in a row

The housing market is better positioned for lower mortgage rates

Houston Housing Market Forecast: Current Data & 2021 Predictions

Rise above the panic, for the housing market’s sake

Help for troubled borrowers is on the way. But will it come soon enough?

Housing inventory up almost 40% over last year

OK to average adjusted comps on appraisals?

Will Springer Realtor - Untitled Article

Mortgage rates head lower, helped by better mortgage spreads

ROV (Reconsideration of Value) Changes – FHA and GSEs

Can mortgage rates keep falling? Job market data is key

Too many appraisers?

Mortgage rates hold steady at key level for now

Will a wider war in the Middle East push mortgage rates higher or lower?

VA Update for Appraisers

Home Sales are Falling in Cuyahoga County While Prices Continue to Increase

Unacceptable Appraisal Practices from Freddie Mac

The new home sales recession continues

Appraising Factory-Built Houses

The appraisal industry’s hidden hand

RISING INFLATION, RATES TRIP UP HOUSING MARKET

Appraising Airbnb Properties

The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate

Appraisal Time Adjustments Underutized

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