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Demand for distressed homes is dropping. What that means for the housing market

Housing Wire

Weaker demand from the local community developers buying at auction suggests continued weakness in the retail housing market into early 2025 given that those local community developers are anticipating retail market conditions about six months into the future,” Daren Blomquist, vice president of market economics at Auction.com, said in a statement.

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Zillow, Fannie Mae diverge on 2025 housing market predictions

Housing Wire

Dramatic mortgage rate movements are destined to play a major role in the coming year, according to Zillow ‘s newest forecast , which also calls for declining mortgage rates to be a catalyst for home-sales growth and home-price appreciation in 2025. “There’s a strong sense of dj vu on tap for 2025. million in 2025.

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Will 2025 finally be a “normal” housing market?

Housing Wire

Weve now been in the post-pandemic housing market recession market as long as we were in the pandemic boom. Does the housing market start to get back to normal? The number of unsold homes on the market is finally getting closer to 2019 levels. The MBAs mortgage applications data has been surprisingly strong.

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New homes account for the highest share of sales since 2005

Housing Wire

The housing market in 2024 was about as frustrating for the real estate industry as you can imagine. And its a higher number than at any point since the financial crisis, other than 2020 and 2021 during the post-pandemic boom. This is particularly true for builders with in-house mortgage businesses. million.

Sellers 476
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Real estate investors purchased 16% of homes in Q3 2024

Housing Wire

housing market slowed down in the third quarter due to rising home prices and higher mortgage rates , investor purchases also ramped down, according to a new report by Redfin. a year earlier and the lowest share since the end of 2020. in Q1 2022, when investors were taking advantage of low mortgage rates.

Investors 488
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Lower mortgage rates are stabilizing the housing market

Housing Wire

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? Now, with five weeks of data in front of us, we can say they have stabilized the market. Mortgage rates went from a low of 2.5%

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Housing Market Tracker: Inventory drops as mortgage rates move higher

Housing Wire

The housing market experienced more volatility last week, with housing inventory dropping as mortgage rates moved higher. The start of 2023 has been good, considering mortgage rates have stayed above 6% most of the time. I am keeping an eye on how much growth we can get with mortgage rates over 6%.

Inventory 516