Housing Wire

SEPTEMBER 25, 2024

Home prices jump The median price of the homes that went into contract this week jumped to $389,900. It’s the second week in a row with an uptick in the price of the homes going into contract. That’s an increase of 7% more sellers than a week ago and 10% more than the same week a year ago. Since 2020, the U.S.

Inventory 407

Inventory New Listings Sellers Contracts 407

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. Data continues to reflect seller-friendly market conditions as the median sale price reached another record high of $439,716 — up 5.1% year over year. Of the 10 U.S. Last month, 61.9% in May 2022.

Sellers 487

Sellers Buyers Contracts Brokerage 487

Appraisal Buzz

JULY 12, 2024

Now is a good time–at least compared to the recent past–for serious house hunters to get under contract on a home,” said Daryl Fairweather, Chief Economist at Redfin. The current small decline in rates may encourage more potential sellers to come off the sidelines. It is unlikely that prices would decrease significantly very soon.

Contracts 370

Contracts Inventory Buyers Sellers 370

Housing Wire

SEPTEMBER 3, 2024

This week saw 6% fewer sellers than even last year which was already super low. Next year, a healthier housing market will see that number climb over 70,000 per week to maybe 80,000 sellers per week. Pending home sales stay the same There were 64,000 new contracts pending this week for single-family homes. fewer than a week ago.

Inventory 387

Inventory New Listings Contracts Buyers 387

Housing Wire

SEPTEMBER 12, 2024

million homes on the market, buyers have the most properties to choose from since September 2020. The typical home sold in August took 20 days to go under contract, up from 18 days in July but down from 26 days in August 2019. Inventory growth has slowed, the company noted, but with about 1.18 29 to Oct.

Housing Market 477

Housing Market Marketing Inventory Buyers 477

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 459

Sellers Buyers Real Estate Contracts 459

Housing Wire

MARCH 25, 2024

I like to point out that consumers are more sensitive to changes in mortgage rates than to the absolute levels, and since rates are now basically unchanged for the month, just easing down from the early March peak of 7.2%, sellers and buyers are tip-toeing back into the market. Inventory will cross over 2020 levels by July.

New Listings 506

New Listings Inventory Contracts Sellers 506

Housing Wire

OCTOBER 23, 2024

How to prepare for a listing appointment Have a quick call with the sellers to ask them about their motivation, timeline, and price they have in mind. All the contracts, disclosures, and paperwork your lead will need to sign to hire you as their listing agent. Prepare your initial comparative market analysis (CMA). Several pens.

Agents 356

Agents Real Estate Sellers Real Estate Agent 356

Appraisal Buzz

JULY 24, 2024

Nearly two-thirds (64.7%) of homes that were on the market in June had been listed for at least 30 days without going under contract, according to a report from Redfin. a year earlier, marking the biggest annual increase in a year, and the highest share of any June since 2020. That’s up from 59.6%

Marketing 195

Marketing Sellers Inventory Contracts 195

Housing Wire

MARCH 18, 2024

While inventory is growing across the country, some markets are way more impacted and already have more homes on the market than in 2019 or 2020 just before the pandemic. New listings volume continues to run ahead of last year and we see more sellers than last year. The median price of all the homes in contract right now is $389,000.

Inventory 440

Inventory New Listings Sellers Contracts 440

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. Weekly pending sales Below is the Altos Research weekly pending contract data to show real-time demand. Weekly inventory change (Sept.

Mortgage 510

Mortgage Inventory New Listings Contracts 510

Housing Wire

AUGUST 2, 2024

Auction.com , the nation’s largest online platform for distressed real estate sales, recently reported that demand for homes sold at auction began to decline late in the second quarter of 2024 even as the available supply of foreclosed homes also contracted.

Inventory 439

Inventory Retail Buyers Renovations 439

Housing Wire

JULY 20, 2024

Yes, home prices are still rising in 2024, but the pace is significantly slower than in 2020 and 2021. The seasonal decline in new listings will begin soon and we will see if we get fewer sellers in the second half of the year than the current trend. With more sellers who are buyers, we have a tad more demand this year.

Inventory 525

Inventory New Listings Contracts Mortgage 525

Housing Wire

AUGUST 27, 2020

The seasonally-adjusted index measuring signed contracts was up 15.5% Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings.”. There is no indication that contract activity will wane in the immediate future, particularly in the suburbs, Yun said.

Contracts 501

Contracts Realtors New Listings Real Estate 501

Housing Wire

OCTOBER 23, 2023

According to Warner, the module that mentions commissions had just 138 views in 2020 and 2021, combined, among HomeServices’ 51,000 agents. Under questioning, Goffstein said that each agent has a contract that includes NAR rule clauses and that the contract also tells agents that NAR membership dues are needed by January.

Law 450

Law Agents Realtors Contracts 450

Appraisal Buzz

JULY 23, 2024

of all homes under contract, being canceled in that month alone. of the residences that were under contract in that month. of homes that went under contract. of homes that went under contract. The average June house that sold took the longest to come off the market (32 days) since 2020. metropolitan areas.

Buyers 396

Buyers Contracts HOA Property Taxes 396

Housing Wire

FEBRUARY 22, 2024

Worst-case scenario, the broker representing the buyer will have to negotiate their own fee with their client and the seller can no longer be compelled to make a blanket offer of compensation in order to list on the MLS,” Murray said. Nearly six months later, Murray stands by this assertion. “If

Sellers 448

Sellers Buyers Real Estate Agents 448

Housing Wire

AUGUST 7, 2023

It’s no secret that sellers are absent in this market. In September, even though new sellers were few, buyers were even fewer, so inventory rose. The dark red line on this chart represents dramatically fewer new sellers each week than in normal years. The market is still running below the pace of new contracts each week in 2022.

Inventory 305

Inventory New Listings Contracts Sellers 305

Appraisal Buzz

AUGUST 5, 2024

During the second quarter of 2024, the demand for distressed properties at auction displayed strong performance initially but showed signs of decline in June, even as the supply of available auction properties continued to contract, according to Auction.com’s latest Auction Market Dispatch report. “The

Retail 273

Retail Renovations Inventory Contracts 273

Housing Wire

OCTOBER 15, 2021

One-third of homes that went under contract had an accepted offer within one week of hitting the market, a new report from Redfin found. In addition, the number of homes that went under contract within two weeks of listing rose to 46% from 42% during the same period in 2020. points from a month earlier.

Contracts 403

Contracts Landlords Inventory New Listings 403

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. From the National Association of Realtors : “The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, rose 7.5% in October.

Inventory 532

Inventory Contracts Training Investors 532

Housing Wire

OCTOBER 18, 2021

Zillow will keep trying to sell existing home inventory, plus renovate and try to resell homes it has purchased under contract, according to a company press release. Pausing new contracts will enable us to focus on sellers already under contract with us and our current home inventory.”. construction workers.

Renovations 397

Renovations Real Estate Construction Contracts 397

Housing Wire

JUNE 24, 2021

If the all-cash offer wins, the home is purchased from the seller and reserved until the loan is ready to close. The all-cash contract signed between Accept.inc and the seller is still contingent on a satisfactory inspection that can be negotiated between the buyer and agent. The trio closed a $7 million seed round in 2019.

Sellers 360

Sellers Buyers Investors Inspection 360

Lamacchia Realty

FEBRUARY 14, 2024

ARE YOU A "WANT-TO-BE" SELLER IN 2024? From low inventory levels to increasing mortgage rates , the real estate landscape has experienced a multitude of changes and challenges over the last several years, leaving many sellers wondering when the “right” time to list would be given current market conditions.

Sellers 74

Sellers Realtors Buyers Inventory 74

Housing Wire

MARCH 22, 2024

In the nearby metro area of Cape Coral-Fort Myers , active single-family inventory over the previous 90 days averaged 6,500 listings as of March 15, above its March 2020 level of 5,044 listings and approaching its March 2019 level of 7,243 listings. Smith attributes the uptick in inventory to a bump in new listings. Literally since Jan.

Insurance 419

Insurance Inventory Marketing Real Estate 419

Housing Wire

MARCH 14, 2024

Newcomb said that interest rates and higher prices, which have risen by more than $100,000 since March 2020, according to data from Altos Research , have caused her clients to be pickier when selecting a home. “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%

Inventory 427

Inventory Buyers Agents Real Estate 427

Housing Wire

FEBRUARY 23, 2021

Eighteen of the 19 cities reported higher price increases in the year ending December 2020 versus the year ending November 2020. increase, noting home prices rose in all nine of the report’s regions in December 2020. December 2020’s 10.4% Digging deeper into the numbers, Phoenix saw a 14.4% Presented by: Fannie Mae.

Inventory 467

Inventory Contracts Finance Construction 467

Housing Wire

JULY 24, 2023

Pending Sales There are now 378,000 single-family homes in contract. There were 68,000 new contracts for single-family homes this week. In the chart below, the light portion of each bar represents the new contracts each week. But, there were another 15,000 condos and townhomes that went into contract this week.

Inventory 308

Inventory Contracts New Listings Buyers 308

Housing Wire

JULY 26, 2021

That kind of drawn-out timetable is typical for the majority of western nations that use the auctioneer system where a seller works with one, perhaps two, auctioneers. fee to the seller. If a showing is to happen, buyers must make appointments with each seller auctioneer to view those homes. Compare all that to the U.S.

Real Estate Agent 397

Real Estate Agent Real Estate Sellers Legal 397

Housing Wire

DECEMBER 5, 2022

In many ways it was similar to today, with one exception: When I started, I hadn’t been spoiled by a housing market like the one in 2020 and 2021. It created a massive demand for home purchases as consumers competed to win a sales contract and get a home with a low single digit interest rate.

Housing Market 523

Housing Market Marketing Supply Chain Mortgage 523

Housing Wire

SEPTEMBER 22, 2022

With the home-price growth we had in 2020 and 2021, my five-year price-growth model that I set for 2020-2024 of 23% was already smashed in just two years. Since the summer of 2020, I have talked about what could change the housing market, which was a 10-year yield above 1.94%, which means rates over 4%. million in August.”

Inventory 478

Inventory Housing Market New Listings Mortgage 478

Housing Wire

APRIL 13, 2021

A new report from Redfin shows that homes listed midweek sell for an average of $1,700 more than homes listed on the weekend, based on homes sold above their list price from July 2020 through February 2021. And they sell faster, too. Presented by: Propertybase. ” Redfin also looked at specific markets when studying midweek sales.

Sellers 435

Sellers Real Estate Buyers Real Estate Agent 435

Housing Wire

AUGUST 1, 2023

The median price of the homes in contract is $385,000. There are now 376,000 single-family homes in contract. Maybe by Q4, we’ll have more homes in contract than there were at the end of 2022. The count of new contracts this week was just over 68,000 single-family homes. Both lines indicate about 70,000 contracts.

Inventory 357

Inventory Contracts Buyers Mortgage 357

Housing Wire

MAY 10, 2023

For prospective home buyers and sellers, that could mean a gradual decline in mortgage rates , which would unlock inventory and—dare I say—sales activity. In May 2020, it was $425,000. But there are still ultra-competitive markets in America where those conditions will simply be offset by rising prices. I mean very little inventory.

Marketing 369

Marketing Loan Officers Inventory Real Estate Agent 369

Appraisal Today

APRIL 2, 2023

What Do Appraisers Look For in a Sales Contract? Why must an appraiser be given a copy of the sales contract? Secondly, the appraiser is likely familiar with the local real estate contract forms, customary terms, and conditions of real estate transactions in the area, and might be able to identify irregularities and comment on them.

Contracts 52

Contracts Appraisal HOA Architecture 52

Appraisal Buzz

OCTOBER 4, 2021

Freddie Mac (OTCQB: FMCC) today released an analysis showing that appraisal values are more likely to fall below the contracted sale price of a home in census tracts with a higher share of Black and Latino households, resulting in an appraisal gap. MCLEAN, Va. for those in White tracts, leading to a gap of 5.2%.

Valuation 370

Valuation Appraisal Contracts Finance 370

Housing Wire

SEPTEMBER 18, 2024

According to NAR , five percent of sellers and four percent of buyers found their agent through another agent’s referral. A referral estate referral occurs when a licensed agent or broker passes along a prospective buyer or seller to another licensed agent to handle a transaction. Everybody’s happy!

Real Estate 440

Real Estate Real Estate Agent Agents Brokerage 440