Appraisal Buzz

FEBRUARY 17, 2025

Lock-in Effect Moderates as Buyers Adjust to Elevated Rates The lock-in effect has discouraged homeowners from listing their homes for sale, which has contributed to Americas acute housing scarcity. in Q1 2022 and the lowest share since Q2 2021. have a rate below 3%, the lowest share since Q2 2021. in the middle of 2022.

Mortgage 347

Mortgage Real Estate Agent Home Value Agents 347

Appraisal Buzz

DECEMBER 30, 2024

Even though we may be a long way from rates returning to the 23% range we saw at the end of 2021, its still great to see things trending in the right direction. Your monthly house payment on a 15-year fixed-rate mortgage will be 25% or less of your monthly take-home pay. But 510% is okay, too, if youre a first-time home buyer.

Housing Market 363

Housing Market Marketing Inventory Real Estate 363

Appraisal Buzz

DECEMBER 18, 2024

While only one West Coast market, which led the way in 2021, made it into the top 10, the Midwest also performed well. cities, such as page-view traffic, home value increase, and the speed at which properties sell, in order to identify the most popular markets in 2024. As a result, average home values have increased by 7.3%

Architecture 370

Architecture Home Value New Listings Contracts 370

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 459

Clients Agents Buyers Sellers 459

Housing Wire

MARCH 31, 2021

As work-from-home becomes more of a national norm, prospective homebuyers are seeking better home values in small towns that still offer a lot of amenities. Per Realtor.com , homes are being sold at an average of $111,000 in Bay City, and the average listing price per square foot is only $75. compared to 2020.

Buyers 418

Buyers Investors Realtors Agents 418

Housing Wire

NOVEMBER 7, 2023

“If somebody is concerned about that (taxes), I always put it back on the buyer and ask them, ‘Do you have any control in the increase of your rent payment?’” single-family home was $3,901, up 3% compared to 2021, ATTOM reported. But home values and taxes have shot up in several neighborhoods.

Property Taxes 541

Property Taxes Home Value Government Valuation 541

Housing Wire

FEBRUARY 10, 2021

Zillow also announced it has agreed to pay $500 million to acquire ShowingTime , which makes software for prospective buyers to arrange showings with agents. The Seattle-based company , which has mostly pivoted from selling advertising to real estate agents into iBuying, acquired 1,789 homes in the fourth quarter. million – up 25.8%

Home Value 418

Home Value Advertising Real Estate Agent Real Estate 418

Housing Wire

MARCH 9, 2021

As the first quarter of 2021 nears its end, a recent Redfin report shows both good and bad news for Black homeowners. The positive: Homeowners in primarily Black neighborhoods earned an average of $59,000 in home equity in 2020, compared with $50,000 for homeowners in primarily white neighborhoods between 2019 through January 2021.

Home Value 497

Home Value Market Value Brokerage Inventory 497

Housing Wire

OCTOBER 3, 2022

Skyrocketing mortgage rates – now in the 7% range for some buyers – and limited inventory have driven mortgage affordability to its lowest levels since the early 1980s, a reversal from the frenetic boom in buying during 2020 and 2021. That monthly payment is up $930 from August 2021, a 73% increase. With mortgage rates at 6.7%

Inventory 529

Inventory Home Value Housing Market Mortgage 529

Housing Wire

OCTOBER 14, 2021

From 2009 to 2019, the share of recent buyers who are 60 years and old grew 47% , while the share of recent buyers ages 18-39 fell by 13%. From 2009 to 2019, the share of recent buyers who are 60 years and old grew 47% , while the share of recent buyers ages 18-39 fell by 13%.

Buyers 539

Buyers Housing Market Real Estate Agent Real Estate 539

Appraisal Buzz

JUNE 24, 2024

Even during a period when home values are typically at their lowest, many prospective first-time buyers were unable to reach their long-term financial goal of becoming homeowners in Q1, according to the Q1 2024 First-Time Home Buyer Affordability Report from Nerdwallet. Cleveland (3.0) Buffalo, NY (3.2)

Buyers 273

Buyers Advertising Inventory Home Value 273

Appraisal Buzz

JULY 18, 2022

The average 30-year fixed rate mortgage rate was its lowest ever at 2.65% on December 31, 2021. Assuming a $250,000 loan was committed on December 31, 2021, your monthly payment was approximately $1,007 exclusive of escrow for real estate taxes and insurance. Therefore, it begs the question: what will happen to home values?

Sellers 435

Sellers Marketing Market Value Home Value 435

Appraisal Buzz

APRIL 20, 2022

Quickly rising mortgage rates are compounding affordability challenges that have been brought on by record home value growth. home is now 19.5% Despite this, the pace and volume of sales picked up in March, showing the depth of the pool of home buyers willing and able to meet.

Mortgage 195

Mortgage Home Value Real Estate Buyers 195

Housing Wire

NOVEMBER 22, 2023

The Western pessimism is also unsurprising given the year-over-year declines Western states have seen in home values. Builders reported covering closing costs, offering discounted or free features, helping buyers sell their existing home and providing other incentives. 2019 level.

Inventory 488

Inventory Home Value Housing Market Buyers 488

Housing Wire

JANUARY 7, 2022

The agent said rich “mainland” residents replaced international buyers, who are restricted in their travel amid the pandemic. That’s reflected in home prices, where the median Honolulu home sold for $975,000 in the second quarter of 2021, according to the National Association of Realtors , a climb of 20% year-over-year.

Housing Market 418

Housing Market Marketing Real Estate Agent Agents 418

Housing Wire

MARCH 23, 2022

At the end of February, an estimated 407,000 new homes were still for sale, which at the current sales rate represents a 6.3 from a month prior and a 40% increase from the February 2021 level. Buyers are facing a housing market that looks to be as competitive as ever,” Handy said in a statement. months supply. after a 10.4%

Supply Chain 397

Supply Chain Housing Market Buyers Construction 397

Housing Wire

NOVEMBER 18, 2022

months in October 2021. Inventory levels are still tight, which is why some homes for sale are still receiving multiple offers,” Yun said. “In In October, 24% of homes received over the asking price. Conversely, homes sitting on the market for more than 120 days saw prices reduced by an average of 15.8%.”. ” .”

Housing Market 448

Housing Market Marketing Inventory New Listings 448

Housing Wire

JULY 14, 2021

For the first time in a year, the number of buyers who locked in mortgage rates to purchase a second home fell in June. Per a recent Redfin study , second home mortgages saw a year-over-year decrease of 11.1%. Home prices in seasonal towns, meanwhile, rose 28% year over year to $468,000 in June.

Home Value 468

Home Value Contracts Lending Mortgage 468

Housing Wire

FEBRUARY 20, 2025

New data from LendingTree and CoreLogic highlights the struggles and successes of young buyers in todays real estate landscape. Young buyers still face an uphill battle According to a LendingTree analysis of anonymized credit reports, only 3.1 % of Americans under 30 currently hold a mortgage in the nations 50 largest metro areas.

Buyers 381

Buyers Real Estate Inventory Mortgage 381

Housing Wire

JANUARY 3, 2024

That’s a problem when a typical Colorado home – as defined by Zillow ‘s Home Value Index – costs more than $528,000. When teachers can’t afford to buy homes, school districts can’t hire teachers. Other districts have adopted the same approach.

Landlords 488

Landlords Home Value Construction Renovations 488

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6

Lending 459

Lending Home Value Mortgage Renovations 459

Housing Wire

MAY 24, 2023

For many buyers, closing day represents the beginning of the next chapter in their lives – having a new place to celebrate important milestones and create new memories. Unfortunately, as buyers are preparing for this momentous day, wire fraud – a scam in which cybercriminals attempt to steal buyers’ hard-earned money – poses a serious threat.

Real Estate 397

Real Estate Buyers Real Estate Agent Sellers 397

Housing Wire

JANUARY 25, 2023

After blowing past the 2% core inflation target in April 2021, it continuously rose for 18 months until peaking in September 2022. We can also expect low housing demand, which favors buyers. Since the COVID-19 pandemic lockdowns of 2020, inventory has dropped to record-low levels both in 2021 and 2022. It did not hit 6.7%

Housing Market 459

Housing Market Marketing Inventory Sellers 459

Housing Wire

MAY 4, 2022

Annual house price growth hit a record high in 2021, over 17%, and growth remains in the double digits thus far in 2022. Homes that reach the market sell quickly, bidding wars are the new normal and the investor share of sales continues to rise. To register for the HW+ event, go here.

Housing Market 397

Housing Market Finance Marketing Mortgage 397

Housing Wire

SEPTEMBER 11, 2023

The good news for homeowners is that home values in most areas remain stable, and inventory levels for homebuyers are still low. How has the foreclosure-related regulatory landscape changed since 2020 and 2021? By September 2021, however, there was still much foreclosure reluctance.

Inventory 435

Inventory Technology Design Tools 435

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 boxed out many first-time homebuyers who found themselves unable to compete against buyers willing to place a non-contingent offer above full price.

Housing Market 523

Housing Market Marketing Supply Chain Mortgage 523

Housing Wire

OCTOBER 20, 2022

This is the first decline in home prices in almost three years, down from 57.6% in the second quarter, with median national home values dropping 3% quarterly to approximately $340,000, the report said. Despite this drop, investment returns for home sellers is still up from 48.8% of sales in Q3 of 2021.

Sellers 435

Sellers Investing Housing Market Real Estate 435

Appraisal Buzz

OCTOBER 3, 2024

percentage points) Median List Price Per Sq.Ft. : (+2.3 %) (+50.8 %) “Lock-in” Effect Causing Buyers to Stay Put The real estate market has been hampered by the “lock-in” effect for many years now, whereby homeowners, who are tied into a relatively cheap mortgage rate, have been remaining there, having a negative influence on available inventory.

Marketing 418

Marketing New Listings Sellers Advertising 418

Housing Wire

FEBRUARY 4, 2022

Our forecast is for home values to rise 16% from December 2021 to December 2022. One of the main headwinds for buyers — higher mortgage rates — will also dissuade some sellers who want to avoid paying more interest on their next home purchase. Zillow’s answer: price growth won’t slow much, at least not nationally.

Housing Market 370

Housing Market Inventory Home Value Marketing 370

Housing Wire

JUNE 10, 2022

Affordability concerns were also reflected in USMI’s 2021 National Homeownership Market Survey, which reported that 69% of Americans say lack of affordable housing is the biggest homebuying challenge. Buyer morale is at an all-time low for good reason. points year-over-year with only 24% of consumers saying now is a good time to buy.

Real Estate 418

Real Estate Buyers Insurance Mortgage 418

Housing Wire

AUGUST 16, 2024

home purchases fell 1.9% during the same period, which Redfin attributed to elevated mortgage rates and home prices. While investors are still sensitive to mortgage rate changes, they are less sensitive than consumer buyers as 69% of investors pay in cash. In comparison, total U.S. metro areas going back to 2000.

Investors 468

Investors Tenants Real Estate Property Taxes 468

Housing Wire

MAY 9, 2022

Fewer buyers rushed to lock mortgages last month amid a rapid climb in long-term mortgage rates , reflecting home affordability concerns, reports from Mortgage Capital Trading and Black Knight showed. . Compared with April 2021, rate-and-term refinances were down 89.2%. in April from the previous month. from a year earlier.

Mortgage 370

Mortgage Home Value Buyers Lending 370

Housing Wire

DECEMBER 16, 2022

For a home valued at $250,000, the cost of an owner’s title insurance policy would be just 11 cents a day on a 30-year mortgage. nationally since 2004 and roughly 5% the past two years, based on the most recent industry data from 2021. Recently, an attorney shared with me how one of her clients purchased a home in Connecticut.

Insurance 493

Insurance Legal Fees Government Real Estate 493

Lamacchia Realty

DECEMBER 24, 2024

In November 2024, national home sales climbed 6.1% compared to a year ago , marking the biggest year-over-year gain since June 2021. Despite this trend, South Florida saw a decrease in home sales. The decline in overall sales and pending transactions suggests a slowdown in buyer demand. by month’s end.

Real Estate 69

Real Estate Home Value Buyers Sellers 69

Appraisal Buzz

AUGUST 16, 2024

This surge follows a period of fluctuating investor activity during the COVID-19 pandemic, where purchases more than doubled during the 2021 homebuying boom, only to drop nearly 50% in 2023 due to declining rents and home values. Despite the renewed investor interest, overall home purchases in the U.S.

Investors 370

Investors Property Taxes Housing Market Real Estate 370

Housing Wire

FEBRUARY 1, 2023

Interest rates, though down slightly in recent weeks, are still double what they were at the end of 2021, and the Federal Reserve continues its monetary tightening policies to fight inflation. Nobody was doing buydowns in 2020 and 2021 [when 30-year fixed mortgage rates were in the 3% range]. in November, down from a 9.2%

Marketing 435

Marketing Government Mortgage Sellers 435

Lamacchia Realty

OCTOBER 25, 2024

The decline in total sales and pending homes suggests that buyer demand may be weakening. As a result, more sellers have entered the market, but many buyers now find these properties to be outside their budget. Instant Home Evaluation See immediately how this market is impacting your home value.

Real Estate 74

Real Estate Sellers Buyers Home Value 74