Appraisal Buzz

OCTOBER 21, 2024

A new study from First American reviewed the data from the 2022 Survey of Consumer Finances to determine exactly how much impact student loan debt has on the search for home ownership. Average student loan balances have increased from $12,600 in 1992 to $40,600 in 2022 (adjusted for inflation). years in 1992 to 13.9

Buyers 397

Buyers Finance Investing Appraisal 397

Appraisal Buzz

NOVEMBER 19, 2024

Richardson Economic Consulting found that as of 2022, there were still large numbers of owner-occupied homes assessed at $150,000 or less in each of the three cities studied, particularly in distressed areas. However, the stock of low-cost homes declined from 2007 to 2022 due to home price appreciation. Louis to 175% in El Paso.

Lending 418

Lending Mortgage Investors Development 418

Housing Wire

NOVEMBER 22, 2024

Investors are finding a balance after several years of whiplash: They bought up homes at a frenzied pace in 2021 and the beginning of 2022, then quickly backed off when the housing market slowed as mortgage rates rose,” Redfin senior economist Sheharyar Bokhari said in a statement. Investors purchased $38.8 Now there’s a middle ground.

Investors 488

Investors Real Estate HOA Housing Market 488

Appraisal Buzz

DECEMBER 2, 2024

Construction boosts supply More completed multi-family homes made their way to the market in 2024, as projects started in 2022 and 2023 were completed. That’s still just $40 (-2.3%) lower than its August 2022 peak, and is $272 (18.8%) higher than the same time period in 2019. from its October 2022 peak but is 12.5%

Advertising 396

Advertising Construction Marketing Appraisal 396

Housing Wire

OCTOBER 13, 2024

Here are new listings for last week over the past several years: 2024: 62,876 2023: 57,229 2022: 59,458 Price-cut percentage In an average year, one-third of all homes take a price cut — this is standard housing activity. The price-cut percentage data is below 2022 levels and risks an earlier seasonal curve lower than 2022 and 2023.

Inventory 511

Inventory New Listings Retail Mortgage 511

Housing Wire

JANUARY 10, 2025

This is the fifth round of layoffs at Redfin since June 2022, when Redfin laid off 500 employees as the housing market began to turn. It then cut another 862 positions in November 2022, partially due to the shutdown of its iBuying program. We’re always looking for ways to be more lean so we can do more for customers.

Brokerage 397

Brokerage Agents Housing Market Marketing 397

Housing Wire

NOVEMBER 23, 2024

24): Inventory fell from 569,898 to 565,875 The all-time inventory bottom was in 2022 at 240,497 The inventory peak for 2024 so far is 739,434 For some context, active listings for this week in 2015 were 1,104,310 New listings data While active inventory didn’t rise, we did get a nice boost in new listings this last week.

Mortgage 514

Mortgage Inventory New Listings Contracts 514

Housing Wire

OCTOBER 31, 2024

FBI data shows that scams in real estate deals have skyrocketed over the last 10 years from under $9 million in losses in 2015 to $446 million in 2022. Through consumer warnings on websites and email communications, preparedness tools, and other educational resources, the title industry is committed to thwarting these scams.

Real Estate 476

Real Estate Government Tools Buyers 476

Housing Wire

JANUARY 29, 2025

The Federal Reserve didnt raise or cut interest rates today, but the meeting highlighted something I have been emphasizing since 2022: the Fed is shaping its policy around the labor market more than inflation. However, the Fed only cut rates when they believed the labor market was softening in the second half of 2024.

Marketing 430

Marketing Housing Market Construction Mortgage 430

Appraisal Buzz

FEBRUARY 17, 2025

in the middle of 2022. in Q2 2022 and the lowest share since the Q4 2016. in Q1 2022 and the lowest share since Q3 2017. in Q1 2022 and the lowest share since Q4 2020. in Q1 2022 and the lowest share since Q2 2021. have a rate of 5%-5.99%, the lowest share since Q4 2022. of mortgaged U.S. Below 5% : 73.3%

Mortgage 347

Mortgage Real Estate Agent Home Value Agents 347

Housing Wire

NOVEMBER 26, 2024

The numbers represent the slowest pace of new-home sales since November 2022, when the seasonally adjusted annual rate was 596,000. The post-pandemic low point occurred in July 2022, when the rate fell to 519,000. decline compared to September and a 9.4% decline year over year. The median sale price of a new home hit $437,300, a 4.7%

Inventory 448

Inventory Sellers Development Mortgage 448

Appraisal Buzz

OCTOBER 24, 2024

Origination volumes decreased in 2022 as interest rates rose. The volume of jumbo loans originated in 2024 decreased by 56% from 2022 and 2% from 2023 from January to July of each year. Jumbo refinance loans, on the other hand, increased until December 2022 before falling. Since 2014, this is the lowest level.

Mortgage 370

Mortgage Marketing Appraisal 370

Housing Wire

OCTOBER 15, 2024

The government-sponsored enterprise (GSE) said the Housing Choice Voucher program, which launched in 2022, assists very low-income families, seniors and people with disabilities in being able to afford stable and quality housing in the private market.

Landlords 476

Landlords Tenants Property Management Legal 476

Housing Wire

MARCH 4, 2025

in 2022, an increase from the annual average of 17.5% between 2003 and 2022. Cain added that more recent data beyond 2022 should have been considered before ordering a reduction in premiums. According to the order, TLTA advocated for no changes to title insurance premiums while OPIC recommended a reduction of 8.9%

Insurance 393

Insurance Real Estate Business Marketing 393

Housing Wire

FEBRUARY 12, 2025

This is the sixth round of layoffs at Redfin since June 2022, when Redfin laid off 500 employees as the housing market began to turn. It then cut another 862 positions in November 2022, partially due to the shutdown of its iBuying program. Redfin is set to announce its quarterly earnings at the end of the month.

Investors 430

Investors Housing Market Marketing Real Estate 430

Appraisal Buzz

MARCH 20, 2025

from a recent peak of nearly 441,000 reached in 2022. That national gross-profit figure was up from $67,846 in 2023 but still down slightly from $72,750 in 2022, which was the second-highest level this century. Home Flipping Report , which finds that 297,885 single-family homes and condos in the U.S. were flipped in 2024down 7.7%

Renovations 355

Renovations Investors Finance Property Taxes 355

Housing Wire

OCTOBER 28, 2024

Sales are coming in a little better each week compared to last year and 2022. Compare that to the price curves of either of the last two years — fourth quarter in 2023 and especially 2022. The big change in rates was 2022. That 2022 line is so clear on this price reductions chart.

Inventory 476

Inventory New Listings Sellers Contracts 476

Appraisal Buzz

DECEMBER 11, 2024

year-over-year in November to $1,595, the lowest level since March 2022. lower than when it hit an all-time high of $1,700 in August 2022. According to Redfin , the median U.S. asking rent fell 0.7% Rents were down 1.1% on a month-over-month basis. The median rent is now 6.2% to $1.79.

Construction 386

Construction Appraisal Marketing 386

Housing Wire

NOVEMBER 20, 2024

The note replaced a previous loan Side extended in 2022. Tal and Oren Alexander were superstars among real estate agents in New York City and Miami, having represented ultra wealthy clients at Douglas Eliman before leaving to found Official in 2022. It’s unclear why the money was extended or its intended use. “We

Legal Fees 418

Legal Fees Real Estate Agent Brokerage Legal 418

Appraisal Buzz

DECEMBER 16, 2024

In 2022, there were roughly 20.9 million familiesliving with non-relatives in 2022 that were likely in need of their own place. million empty-nest households nationwide residents ages 55 or older who have lived in the same home for 10 or more years, have no children at home and have at least two extra bedrooms.

Housing Market 370

Housing Market Marketing Inventory Appraisal 370

Housing Wire

DECEMBER 16, 2024

These are mortgages secured before mortgage rates began to rise sharply in 2022. Phoenix was among the hottest housing markets in the country in 2022 thanks to migration from California, and job growth has expanded 12% over the last 5 years. Locked-in mortgages have been widely credited with cutting off housing inventory.

Housing Market 418

Housing Market Marketing Inventory Realtors 418

Housing Wire

DECEMBER 20, 2024

In February 2022, the plaintiffs and Anywhere each filed motions for summary judgment in their respective favors. Judge James Donato, who is overseeing the case, denied both motions in May 2022. Companies like Defendant flagrantly ignores the Registry and invade the privacy of consumers with unwanted calls, the suit states.

Brokerage 396

Brokerage Agents Legal Real Estate 396

Housing Wire

NOVEMBER 13, 2024

In 2022, there was a noteworthy shift, and the number of applications began declining. By 2023, applications submitted by Black women decreased by 24% from 2022.” “Until 2021, there had been a steady rise in the number of applications from Black women since the Great Recession,” the report reads. “In

Real Estate 418

Real Estate Mortgage Finance Housing Market 418

Housing Wire

FEBRUARY 7, 2025

In 2022, Crye-Leike Real Estate Services closed roughly $7 billion in sales volume, according to data from the 2023 RealTrends Verified rankings. The T3 Sixty Real Estate Almanac reports the same numbers, while the brokerage companys 2022 Annual Report pegged its sales volume at $8.5 which the company said did $1.75

Human Resources 369

Human Resources Brokerage Real Estate Legal 369

Housing Wire

MARCH 31, 2025

That pace slowed dramatically in 2022 and turned negative in January 2023. In 2022, we could see very specific, very rapid moments of home prices dropping. Ive highlighted those in the green line here from 2022. Home prices actually dropped in June and again in September 2022. A crash is not underway.

New Listings 450

New Listings Inventory Housing Market Sellers 450

Housing Wire

JANUARY 20, 2025

The department said its report is based on the most comprehensive and granular snapshot of the homeowners insurance market to date, and covers more than 330 insurers and over 246 million homeowners insurance policies that are aggregated to the ZIP Code level from 2018 to 2022, with an annual average of 49.3 million policies.

Insurance 370

Insurance Lending Marketing 370

Housing Wire

NOVEMBER 4, 2024

market share, while first-quarter 2022 saw a record high of 34.4%. Nearly 93% of homeowners with mortgages had rates below 6% in mid-2022, but that share dropped by roughly 4 percentage points at the start of the year, according to Redfin. Census Bureau. This marked the lowest market share for new homes in three years.

Marketing 370

Marketing Inventory Construction Realtors 370

Housing Wire

MARCH 19, 2025

Despite recent softening in 2022 and 2023, it still remains 50% above pre-pandemic levels. Data from the report indicates that home improvement and repair spending accelerated from $404 billion in 2019 to $611 billion in 2022. remodeling industry reached $600 billion in value following the COVID-19 pandemic.

Home Improvement 334

Home Improvement Modernization Investing Insurance 334

Appraisal Buzz

MARCH 13, 2025

Between 2019 and 2022, the median net worth of single women grew from $54,400 to $74,500. Additionally, a home remains the largest asset for most single women, accounting for 66% of their total wealth in 2022.

Housing Market 394

Housing Market Marketing Home Value Tools 394

Housing Wire

DECEMBER 3, 2024

According to Crunchbase, it received its seventh round of funding at the beginning of 2022. The portal giant has also partnered with Howard Hanna on AI tools for agents. Zumper is a multifamily rental portal launched in 2012. Investors include Kleiner Perkins , Blackstone Group , G oodwater Capital and Dawn Capital , among others.

Property Management 417

Property Management Tools Real Estate Technology 417

Housing Wire

FEBRUARY 24, 2025

It happened in 2022 and you can see it in this chart here. In 2022, thats the green line here. If that happens, I expect to see home prices adjust down like you can see in the 2022 line here. 2024 had the opposite pattern from 2022 at the end of the year. There have been recent times when home prices fell.

Inventory 495

Inventory New Listings Sellers Contracts 495

Housing Wire

FEBRUARY 7, 2025

Since 2022, my guiding principle has been that the labor market is more important than inflation in determining mortgage rates. Since 2022, I have advised against discussing a potential recession until this data line reaches 323,000 on the four-week moving average and breaks through that threshold.

Marketing 478

Marketing Mortgage Government Retail 478

Housing Wire

OCTOBER 29, 2024

According to Bright MLS, it’s the slowest annual gain in 2024 thus far and the first monthly decline since December 2022. Economists pointed to lower mortgage rates as the reason for slower growth.

Mortgage 487

Mortgage Sellers Buyers Housing Market 487

Appraisal Buzz

NOVEMBER 6, 2024

Census’ 5-year American Community Survey (2018–2022). With nearly 34,000 new residents in 2022, Maricopa County, with its thriving Phoenix metro region, is the go-to place for Californians fleeing Los Angeles’ infamously pricey property market. Gen Z comes in second at 20%, or about 13,500 new residents a year.

Business 370

Business Real Estate Marketing Housing Market 370

Housing Wire

OCTOBER 15, 2024

Regulators said that data showed that only 3.77% of Fairway’s applications from 2018 through 2022 were for properties in majority-Black areas of Birmingham. Fairway operates in the Birmingham area under the trade name MortgageBanc , which it acquired in 2009. This compared to 12.2%

Advertising 468

Advertising Lending Loan Officers Retail 468

Appraisal Buzz

NOVEMBER 13, 2024

About 34% of buyers paid below the asking price in 2024—up from 27% in 2022, when the market was more favorable to sellers. More than half of home buyers (52%) negotiated with the seller, with 94% of those who did achieving success.

Real Estate 417

Real Estate Sellers Buyers Renovations 417

Appraisal Buzz

FEBRUARY 26, 2025

The median sales price increased in January to the highest level since 2022, as more high-end homes were sold, Kushi says. New-home sales started the year more like a lamb than a lion, declining 10.5 The only region to register a month-over-month increase in new-home sales was the West.

Construction 414

Construction Buyers Appraisal Mortgage 414