Housing Wire

MARCH 14, 2024

No matter where you are in the state, real estate agents in Virginia are facing low inventory conditions that are creating frustrating scenarios for their buyers. “I I have buyers that are looking, but to find a house that you love enough to pay a high price for — and to be at over a 6.5% In Wise County , there were only 56 listings.

Inventory 405

Inventory Buyers Agents Real Estate 405

Appraisal Buzz

SEPTEMBER 16, 2024

According to Zillow’s most recent market report , reduced mortgage rates and more inventory are providing house buyers with a window of opportunity at an uncommon time of year. Buyers have more options to choose from for two reasons. Beyond that, more inventory is becoming available enough to improve buyer negotiating power.

Buyers 396

Buyers Inventory New Listings Home Value 396

Housing Wire

JANUARY 9, 2025

But survey data released Thursday by Bright MLS found that some standards were top priorities for some buyers. According to the survey, more than half of prospective buyers ranked the condition of the home as the most important factor in their home search. ” Even with compromises, buyers still struggle to gather a down payment.

Buyers 371

Buyers Renovations Housing Market Home Improvement 371

Housing Wire

NOVEMBER 14, 2023

Here are 14 real estate trends Gen Z buyers won’t pass up. Gen Z likes to stay close to home With the continued trend of remote work and little desire for a long commute, Gen Z buyers are moving to homes in walkable communities with nearby amenities. Gen Z values diversity and inclusivity.

Real Estate 466

Real Estate Buyers Renovations Open Houses 466

Housing Wire

NOVEMBER 1, 2023

Three researchers believe a first-of-its-kind dataset has enabled them to definitively answer a long-debated question: why have buyer agent commission rates been so stable historically? So how is the uniformity and permanence of buyer agents’ 2-3% rate possible in a free market? One of the researchers, Will Fried, had a hunch.

Clients 453

Clients Agents Buyers Sellers 453

Housing Wire

OCTOBER 4, 2023

District Court in Boston granted the Department of Justice’s request to extend all settlement related deadlines in the Nosalek buyer broker compensation class action lawsuit on Tuesday. Unlike the two other buyer-broker commission lawsuits, Moehrl and Sitzer/Burnett , NAR is not a defendant in the Nosalek lawsuit.

Buyers 409

Buyers Realtors Sellers Legal 409

Appraisal Buzz

JUNE 14, 2024

There have only been two months in the last decade with fewer home sales: October 2023, when mortgage rates reached a 23-year high, and May 2020, when the pandemic brought the housing market to a halt and home sales to an all-time low. High home prices, rising mortgage rates, and a continuous housing shortage are discouraging buyers.

Sellers 435

Sellers Buyers New Listings Mortgage 435

Housing Wire

FEBRUARY 12, 2024

That’s the most since 2020 — before the pandemic. Immediate sales If sellers are growing we need to know if buyers are growing too. We have more buyers than sellers this time of year so the active inventory of unsold homes ticked down this week. And the spring buying season will have improved selection for home buyers.

Sellers 385

Sellers Housing Market Buyers New Listings 385

Housing Wire

OCTOBER 2, 2023

MLS Property Information Network’s (MLS PIN) settlement agreement in the Nosalek class action antitrust buyer-broker compensation lawsuit has hit yet another snag. ” It continues: “Buyer-broker commission rules are the subject of several pending antitrust suits and a pending appeal in which the United States is an appellant.”

Buyers 382

Buyers Realtors Real Estate Sellers 382

Appraisal Buzz

JULY 23, 2024

Buyers are getting more and more selective,” said Julie Zubiate, a Redfin Premier real estate agent in the San Francisco Bay Area. Buyers often back out during the inspection period because they find something they don’t like, but affordability is really the underlying issue. of homes that went under contract. June 2024 U.S.

Buyers 396

Buyers Contracts HOA Property Taxes 396

Appraisal Buzz

SEPTEMBER 5, 2024

With the total number of homes on the market at its greatest point since May 2020 and interest rates about to start declining, buyers will have more options this autumn. In April we noted that rising for-sale inventory was likely to lead to more balance between buyers and sellers. This range’s inventory increased by 46.1%

Sellers 397

Sellers Housing Market Buyers Marketing 397

Housing Wire

MAY 22, 2024

From waiving inspections and financing contingencies, to free leasebacks and uncapped escalation clauses, real estate agents say that buyers in Rhode Island are willing to do almost anything to get into a house right now. “It For buyers, the tight inventory has meant frequent compromises to their search parameters.

Buyers 304

Buyers Inventory Marketing Real Estate 304

Housing Wire

MARCH 18, 2022

Total inventory data is deficient, and this was my biggest fear in the years 2020-2024, and it happened. Inventory has been slowly falling since 2014, so if demand picks up in 2020-2024, it can collapse to shallow levels. I thought creating the term forbearance crash bros in the Summer of 2020 would help educate homebuyers.

Housing Market 541

Housing Market Marketing Inventory Sellers 541

Housing Wire

OCTOBER 5, 2021

The report, which was based off of data collected by Zillow Group Population Science through a national survey of more than 2,000 sellers, also found that the percentage of offers that fell through was slightly higher than in years past, with 56% of sellers reporting that none of the offers on their property fell through compared to 58% in 2020.

Sellers 545

Sellers Inspection Buyers Finance 545

Housing Wire

JUNE 28, 2022

Since the summer of 2020, I have talked about how to cool down home sales: we need the 10-year yield to break over 1.94%. Also, certain investors felt no fear post-2020. When it comes to the years 2020-2024, don’t think of a housing boom in sales or credit. This is because the biggest buyers of homes are mortgage buyers.

Housing Market 480

Housing Market Marketing Inventory Investors 480

Housing Wire

OCTOBER 24, 2024

The company’s Auction Market Dispatch for third-quarter 2024 included a survey conducted in late September of more than 140 active buyers on the platform. Buyers have also been less active despite the Federal Reserve ’s 50-basis-point cut to benchmark rates last month. But supply varies widely by location, Auction.com noted.

Housing Market 471

Housing Market Marketing Retail Development 471

Housing Wire

SEPTEMBER 12, 2024

That’s according to a Zillow report released Thursday in which the Seattle -based real estate company said that “lower mortgage rates and rising inventory are giving home buyers a window of opportunity at an unusual time of year.“ Buyers have more options to choose from for two reasons. Zillow noted that the U.S. 29 to Oct.

Housing Market 476

Housing Market Marketing Inventory Buyers 476

Housing Wire

JULY 23, 2024

The affordability issues we are now seeing make the housing market more balanced in the supply levels between buyers and sellers. We’re already seeing a buyer’s market in some of the more expensive markets that have to deal with higher levels of housing inflation, such as in parts of Texas and Florida. months in May and 3.1

Marketing 458

Marketing Inventory Housing Market Buyers 458

Housing Wire

APRIL 12, 2024

According to Altos Research data , 90-day median list prices have risen from roughly $230,000 in April 2020 to $275,000 in early April 2024, contributing to the slowdown in home sales. year over year, and nearly identical to the 2,492 homes sold in February 2020 prior to the COVID-19 pandemic. recorded in mid-February 2020.

Insurance 416

Insurance Housing Market Marketing Agents 416

Housing Wire

OCTOBER 8, 2021

In the most recent month with data available on that follow-up question, 66% surveyed said that it was a bad time to buy a home because prices are too high, up from just 12% who said prices were too high in July 2020. Meanwhile only 19% said it was a good time to buy because of low interest rates, down from 44% in July 2020.

Renovations 542

Renovations Inventory Marketing Property Taxes 542

Appraisal Buzz

JUNE 27, 2024

Since the start of the epidemic in 2020, when the housing market all but collapsed, this is the first year that the average home has sold for less than list price during this time of year. That percentage is down from 36% a year ago and is the lowest for any June since 2020. Buyers may get a slight respite soon on costs soon.

Sellers 417

Sellers Buyers New Listings Agents 417

Appraisal Buzz

DECEMBER 30, 2024

Despite higher mortgage rates in November and persistent affordability challengers, buyers took advantage of more inventory as pending home sales reached the highest level in nearly two years, said First American Deputy Chief Economist Odeta Kushi. Buyers are no longer waiting for or expecting mortgage rates to fall substantially.

Contracts 435

Contracts Inventory Buyers Sellers 435

Housing Wire

FEBRUARY 12, 2024

9, 2020, and the present, and paid a buyer broker commission. If NAR’s Adversary Commission Rule were not in place, then the cost of buyer broker commissions would be paid by their clients (home buyers),” the complaint states. Buyer brokers would thus have to compete with one another by offering a lower commission rate.

Real Estate 440

Real Estate Real Estate Agent Realtors Buyers 440

Housing Wire

JUNE 27, 2022

The country is still working through a surplus from the serious delinquencies that surged in the second quarter of 2020 as borrowers struggled to pay back their loans at the start of the pandemic, Walden said. Could renovated foreclosure resales help solve the nation’s increasingly complex affordable housing puzzle? Presented by: Auction.com.

Mortgage 531

Mortgage Renovations Buyers 531

Housing Wire

FEBRUARY 16, 2024

“In the absence of NAR’s Mandatory Offer of Compensation Rule, the expense of buyer broker commissions would be incurred by their clients (homebuyers),” the complaint states. This would lead to competition among buyer brokers to offer lower commission rates. 16, 2020, and the present.

Real Estate 417

Real Estate Realtors Realty Brokerage 417

Housing Wire

OCTOBER 24, 2024

million in the first quarter of 2020. But only about 17,000 delinquent loans completed the foreclosure process in the second quarter of 2024, almost one-third of the nearly 45,000 that completed the foreclosure process in Q1 2020. That means the buyer will need to pay in cash or use non-traditional financing such as a hard money loan.

Retail 430

Retail Buyers Renovations Finance 430

Housing Wire

JULY 23, 2024

the highest number since the early days of the COVID-19 pandemic in May 2020. With mortgage rates still hovering around 7%, economists believe buyers are waiting out the next few months until the Federal Reserve cuts benchmark rates, which is expected in September. It represents a 3.1% rise compared to May and a whopping 23.4%

Inventory 461

Inventory Buyers Sellers Inspection 461

Housing Wire

MAY 8, 2024

Home prices escalated out of control after 2020 and when we look at why that happened, we can see that housing credit mattered more to inventory data than most people realize. On March 18, 2020, purchase application data broke out to pre-cycle highs in demand. What does that mean? Demographics also play a role here.

Inventory 463

Inventory Law New Listings Sellers 463

Housing Wire

NOVEMBER 1, 2021

It was just a matter of weeks before the buyers returned and sellers sold their homes, leading home sales to get to pre-cycle highs in 2020 and 2021. When COVID-19 happened, some sellers were able to sit back and watch the market. We didn’t see any mass hysteria to sell. housing market but for the American economy.

Housing Market 545

Housing Market Sellers Inventory Mortgage 545

Housing Wire

JUNE 21, 2022

Total housing inventory has collapsed to all-time lows since 2020 and because this happened during the years 2020-2024, it created forced bidding and drove prices well above my 23% five-year home-price growth model in just two years. My nightmare scenario, on the other hand, has happened and this is bad news for everyone.

Housing Market 540

Housing Market Marketing Inventory Mortgage 540

Housing Wire

NOVEMBER 9, 2022

In the previous expansion, one of my long-term calls was that the MBA purchase application data will never hit the volume level of 300 until the years 2020-2024. Right on cue, 2020 came and we hit the 300 level. The years 2020-2024 were going to be the time when total home sales could finally reach 6.2 We are up 43% since 2020.

New Listings 486

New Listings Inventory Housing Market Sellers 486

Housing Wire

FEBRUARY 16, 2024

The modified rule still gives sellers and their listing brokers a role in setting compensation for buyers’ brokers,” the filing states. According to the DOJ, when a seller makes an offer of compensation to the buyer broker, the buyer broker does not need to compete on their compensation price in order to attract clients.

Sellers 457

Sellers Buyers Real Estate Contracts 457

Housing Wire

JUNE 14, 2024

The first occurred in May 2020, when the lockdowns imposed during the COVID-19 pandemic brought in-person showings and sales to a halt. Buyers today are facing many of the realities of a hot market even though few homes are changing hands,” Redfin senior economist Elijah de la Campa said in the report. That was down 1.7% in May 2022.

Sellers 485

Sellers Buyers Contracts Brokerage 485

Housing Wire

NOVEMBER 4, 2024

Newly released data from the annual profile of home buyers and sellers by the National Association of Realtors (NAR) shows just how dramatically this trend has manifested since the financial crisis of 2008. While the median age of buyers gradually increased over the course of two decades, the COVID-19 pandemic sped it up.

Real Estate Agent 340

Real Estate Agent Buyers Sellers Realtors 340

Housing Wire

NOVEMBER 29, 2021

in October — and since we are days away from December, we can officially label the 2021 housing crash bears as even worse than the 2020 housing crash bears. ” One of the themes that I wanted to give to my readers is that housing data had surged toward the end of 2020, which created a high that couldn’t be sustained.

Inventory 531

Inventory Contracts Training Investors 531

Housing Wire

JANUARY 18, 2024

In the complaint, the plaintiffs take aim at NAR’s Participation Rule, which requires listing brokers to make a blanket offer of compensation to buyers brokers in order to list a property on a NAR-affiliated MLS. 17, 2020, and the present. The plaintiffs are also demanding a jury trial, damages, and injunctive relief.

Realtors 493

Realtors Brokerage Real Estate Realty 493

Housing Wire

MARCH 27, 2024

The company collects a 3% buyer agent commission, keeps a third of it, and refunds the rest to the buyer; it does not charge a seller agent commission fee. Listings by instant buyers (also known as “iBuyers”) plummeted last year, although the industry segment’s struggles are hardly limited to Jacksonville.

Brokerage 415

Brokerage Realty Real Estate Inventory 415