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. In some places, individual home sellers have faced stiff competition from homebuilders. Ongoing U.S.

Sellers 435

Sellers Buyers New Listings Mortgage 435

Housing Wire

JUNE 24, 2024

Sellers can just wait it out, and it looks like the U.S. I think it’s worth examining if sellers will indeed just wait it out now. The big takeaway is that we’ll have more inventory than 2020 starting in July. That is 13% more sellers than last year at this time, but it’s not expanding any more this summer.

Inventory 366

Inventory Sellers New Listings Property Taxes 366

Housing Wire

FEBRUARY 12, 2024

There are still notably not a lot of sellers. But home sellers are gradually easing back into this housing market. Sellers are coming back to this housing market. That’s the most since 2020 — before the pandemic. The takeaway here is: we can see new sellers, more than last year. It’s not a ton of sellers.

Sellers 385

Sellers Housing Market Buyers New Listings 385

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. Simultaneously, home sellers reduced the number of newly listed properties on the market, with a -0.9% decrease from the previous year. “In from July’s levels.

Sellers 397

Sellers Housing Market Buyers Marketing 397

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

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.

Housing Market 540

Housing Market Mortgage Marketing Inventory 540

Housing Wire

NOVEMBER 1, 2021

When COVID-19 happened, some sellers were able to sit back and watch the market. 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. In general, homeowner households were financially solid going into the crisis.

Housing Market 545

Housing Market Sellers Inventory Mortgage 545

Housing Wire

MARCH 22, 2021

Homebuyers who offer all-cash improve their chances of winning a bidding war by 290%, per Redfin’s study of clients buying homes between June 2020 and February 2021. When that happens, sellers want to know buyers have the cash to cover the difference between the appraised value and the sale price.”

Inspection 544

Inspection Inventory Buyers Sellers 544

Housing Wire

MAY 28, 2024

There are more homes on the market now than anytime since August 2020. This number will probably peak at about 700,000 this summer, crossing over 2020 levels at that point. No one wants a scenario in which there’s a flood of sellers but no buyers. In a few weeks — probably early July — inventory is likely to surpass 2020 levels.

Inventory 515

Inventory New Listings Contracts Sellers 515

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. According to a new Redfin study , the average U.S.

Sellers 417

Sellers Buyers New Listings Agents 417

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

JUNE 7, 2021

points higher than it was in May 2020, when forbearance and unemployment heavily weighed down consumer sentiment. Because the housing market feels very much like a zero sum game at this point, sellers again felt good about their position. The HPSI is still 12.5 trillion by year’s end.

Housing Market 538

Housing Market Marketing Sellers Inventory 538

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.

Sellers 485

Sellers Buyers Contracts Brokerage 485

Housing Wire

SEPTEMBER 17, 2021

increase in median home sale price from August 2020. HouseCanary recently found that Boise has been the fastest-growing city in America since December 2020, and Provo/Orem, Utah was second. from August 2020, according to RE/MAX. The median sale prices of homes also decreased to $335,000, dropping 1.2% in August from July.

Housing Market 511

Housing Market Marketing Inventory Buyers 511

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

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. So you can see why we have so few stressed sellers.

Inventory 463

Inventory Law New Listings Sellers 463

Housing Wire

JUNE 17, 2021

“May marked the likely peak of the blazing hot pandemic housing market, as many buyers and sellers are vaccinated and returning to pre-pandemic spending patterns,” Marr said. “Sellers are still squarely in the drivers’ seat, but buyers have hit a limit on their willingness to pay. from April. .”

Housing Market 528

Housing Market New Listings Sellers Buyers 528

Housing Wire

FEBRUARY 16, 2024

A second home seller in Nevada has filed a lawsuit alleging that real estate industry players in the state have colluded to artificially inflate real estate agent commissions. District Court in Las Vegas by Nevada home seller Angela Boykin. 16, 2020, and the present. The copycat commission lawsuit was filed on Friday in U.S.

Real Estate 417

Real Estate Realtors Realty Brokerage 417

Housing Wire

APRIL 7, 2021

Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and home sellers while also playing an expanding role as personal advisors. markets; by December 2020, prices were already up 23.6% Presented by: Propertybase.

Housing Market 545

Housing Market Marketing Real Estate Technology 545

Housing Wire

FEBRUARY 7, 2024

With mortgage rates briefly topping 8% and home prices breaking records throughout the year, many would-be sellers simply decided not to bother listing their homes, exacerbating already tight inventories. When inventory bounces back The extremes of the 2020s have dealt big blows to for-sale inventories. New data from the U.S.

Inventory 418

Inventory Sellers Mortgage Marketing 418

Housing Wire

JANUARY 18, 2024

The suit, known as Fierro, after its lead plaintiff Gael Fierro, a Californian home seller, accuses the real estate industry of colluding to artificially inflate real estate agent commissions. Patrick Thurber, a California home seller, is an additional named plaintiff in the suit. 17, 2020, and the present.

Realtors 493

Realtors Brokerage Real Estate Realty 493

Housing Wire

DECEMBER 29, 2022

As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. That is how fast things changed — a by-product of a sector where the prices of homes were getting out of control after 2020. Key thing to remember: A traditional seller is also usually a buyer.

Housing Market 545

Housing Market Marketing Inventory Sellers 545

Housing Wire

SEPTEMBER 17, 2024

Like the vast majority of the country, the city’s housing market has been stymied by high mortgage rates, low inventory and mismatched expectations between buyers and sellers. Sellers think it’s a seller’s market. From March 2020 to July 2022, the median home price rose 23% before hitting a brief lull.

Housing Market 374

Housing Market Marketing Sellers Buyers 374

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

SEPTEMBER 13, 2022

It all started when mortgage rates jumped from 5.25% to 6.25% this year and I saw how home sellers reacted to that move. We haven’t had to deal with 6% mortgage rates in a long time and we have had massive home-price growth since 2020, continuing nationally in 2022. Can you blame home sellers?

Mortgage 521

Mortgage Inventory New Listings Sellers 521

Housing Wire

MAY 15, 2024

That’s a swing of 17% fewer sellers in just a matter of days. What’s not measured in the FHFA paper is how by 2023, seller volume had already been declining for nearly a decade. In that period, we can see seller volume decreasing as more and more Americans had mortgages under 5%.

Mortgage 402

Mortgage New Listings Inventory Sellers 402

Housing Wire

JULY 24, 2024

It’s the largest year-over-year increase for any month in the past year and the highest share for the month of June going back to 2020. There are more listings hitting the market, but a lot of them aren’t in good condition or they’re not in a desirable neighborhood — and sellers are pricing unrealistically high.” a year ago.

Sellers 398

Sellers Housing Market Buyers Marketing 398

Housing Wire

MARCH 8, 2024

District Court in New Orleans, home seller plaintiff Joseph C. The lawsuit is seeking class action status for anyone who has used Latter & Blum as listing broker for sale of a home on an MLS in Louisiana and paid a buyer broker commission between March 5, 2020, and the present. In a lawsuit filed on Tuesday in U.S.

Brokerage 385

Brokerage Sellers Realtors Agents 385

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

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 446

Sellers Buyers Real Estate Agents 446

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. The last time unsold inventory posted a four-month supply was May 2020 (4.5 My affordability index model was created for 2020-2024 because this was such a unique period in U.S. months in May and 3.1

Marketing 458

Marketing Inventory Housing Market Buyers 458

Housing Wire

JUNE 4, 2021

The winning buyer also waived appraisal and financing contingencies and dropped off cupcakes that matched the interior colors of the house, which was a nice touch because the seller is an artist and the home is unique and colorful.” . The jumbo market for brokers is back in a huge way.

Marketing 508

Marketing Sellers Finance Loan Officers 508

Housing Wire

AUGUST 14, 2024

According to data from CoreLogic, Denver’s average price per square foot has risen 35% since 2020. This gave sellers the upper hand, but the market has turned in recent months. This has taken power away from sellers, who now face a shortage of potential buyers. year over year. People still need to upsize or downsize.”

Buyers 410

Buyers Housing Market Marketing Sellers 410

Housing Wire

DECEMBER 12, 2023

A home seller plaintiff in California filed an antitrust lawsuit on Friday in U.S. The lawsuit was filed by Christina Grace, who sold a house listed on Bay Area Real Estate Information Services MLS (BAREIS MLS) in April 2020 and paid a commission to the buyer’s agent. The copycat commission lawsuits have made it to the West Coast.

Realtors 458

Realtors Sellers Real Estate Buyers 458

Housing Wire

DECEMBER 9, 2024

Supply growth could also come from more sellers, such as investors or distressed borrowers unloading. However, in most of the country, we have no growth from the seller side. In Florida and Texas, we see the rising costs of insurance , taxes and climate risk driving some sellers. more sellers than the same week a year ago.

Housing Market 416

Housing Market Marketing Inventory Sellers 416

Housing Wire

MAY 3, 2023

According to RealTrends’ historical data, agent commissions reached a high point in 1991 at an average of 6.10% and fell to a nadir of 4.94% in 2020 before climbing to 5.06% in 2021 and 5.32% in 2022. Relatedly, discount brokerages have promised big savings to sellers for decades. They were wrong. They’ve never caught on.

Agents 419

Agents Real Estate Agent Brokerage Real Estate 419

Housing Wire

JANUARY 26, 2021

According to the CoreLogic Buyer/Seller Market Indicator, which measures the ratio between sold price and list price, buyer competition reached a new peak nationally in October and November when the ratio climbed to 0.996 – the highest level since 2008, when the data series began. The 20-city composite showed a 9.1% in October.

Inventory 544

Inventory Housing Market Buyers Sellers 544