Housing Wire

SEPTEMBER 5, 2024

in 2022, according to HUD. Because FHA accepts lower credit scores , higher debt-to-income ratios and lower down payments than most conventional mortgages, first-time buyers have relied on them due to the ongoing affordability challenges in today’s housing market from elevated prices and mortgage rates. of the U.S.

Buyers 475

Buyers Real Estate Agent Inspection Real Estate 475

Housing Wire

JUNE 24, 2024

Bright MLS — one of the nation’s largest multiple listing services that covers six Mid-Atlantic states and the District of Columbia — recently polled buyer and seller agents on what their clients are thinking during their home searches, including thoughts on mortgage rate hikes that have plagued other markets. Another 23.5%

Buyers 418

Buyers Mortgage Clients Agents 418

Housing Wire

MARCH 8, 2024

“At the height of the pandemic there were bidding wars and all that, but it didn’t seem impossible, but now it seems impossible to get our buyers into homes,” said Heather Corrigan , a RE/MAX Signature Homes agent based in Closter, a borough that is 24 miles north of Manhattan and renown for its schools. as of March 6, 2024.

Housing Market 468

Housing Market Buyers Agents Marketing 468

Housing Wire

MAY 14, 2024

“Most of the demand is coming from first-time buyers,” Trevor Levin, a local agent with Los Angeles-based Nourmand & Associates , said. Nationwide, the share of buyers who are first-time buyers has risen in recent months. Nationwide, the share of buyers who are first-time buyers has risen in recent months.

Buyers 448

Buyers Inventory Landlords Real Estate 448

Housing Wire

JULY 30, 2024

The August 17 deadline is looming, and many Realtors are gnashing their teeth over how they can share their seller’s offers of buyer broker compensation while still complying with the terms of the settlement. In Dwiggins’ view, there is no need to disclose what the seller is willing to pay in concession or buyer representation fees. “If

Buyers 459

Buyers Realtors Agents Sellers 459

Housing Wire

MARCH 13, 2024

Now we are looking at a two- to three- business-day process and the buyer may not like the numbers they get back.” For some buyers, surprisingly high insurance premiums are causing them to second-guess the property they have selected. “I There has also been an uptick in the strength and scale of natural disasters.

Real Estate Agent 482

Real Estate Agent Insurance Real Estate Agents 482

Housing Wire

APRIL 25, 2024

Buyers are really struggling.” Although this is up from an all-time low of 1,429 active listings in early May 2022, it is down from the 3,021 listings recorded in late April 2020, a little over a month into the COVID-19 pandemic. But rising prices are not the only financial challenge buyers are having to contend with right now.

Buyers 459

Buyers Marketing Inventory Investors 459

Appraisal Buzz

OCTOBER 16, 2024

median rent is still only $17 (-1.0%) below its peak from August 2022, despite the overall fall. from its peak in October 2022. The post Buyers and Sellers Embrace Market in Wake of Mortgage Rate Dip first appeared on The MortgagePoint. At $1,743, the median asking rent decreased by $8, or -0.5%, from the prior year.

Sellers 418

Sellers Buyers Marketing Mortgage 418

Appraisal Buzz

JUNE 14, 2024

Buyers today are facing many of the realities of a hot market even though few homes are changing hands,” said Elijah de la Campa, Senior Economist at Redfin. And with so few homes for sale, buyers in some markets are getting into bidding wars, which is helping push home prices to record highs.” record established in October 2022.

Sellers 435

Sellers Buyers New Listings Mortgage 435

Housing Wire

MARCH 14, 2024

To determine the affordability score of each state, Insurify identified the average yearly cost of a home insurance policy in 2023, how much home insurance prices changed since 2022, and how that change compared to the state’s wage growth.

Insurance 492

Insurance Buyers Finance Real Estate 492

Appraisal Buzz

JULY 23, 2024

Buyers are getting more and more selective,” said Julie Zubiate, a Redfin Premier real estate agent in the San Francisco Bay Area. Buyers often back out during the inspection period because they find something they don’t like, but affordability is really the underlying issue. recorded in October 2022, having increased from 14.4%

Buyers 396

Buyers Contracts HOA Property Taxes 396

Housing Wire

APRIL 3, 2024

The combined share of millennials, both younger (ages 25 to 33) and older (ages 34 to 43), made up a combined 38% of the home purchase market last year, up from 28% in 2022, according to the 2024 Home Buyers and Sellers Generational Trends report from the National Association of Realtors (NAR).

Marketing 526

Marketing Buyers Sellers Realtors 526

Housing Wire

FEBRUARY 20, 2024

million homeowners added between 2012 and 2022. According to a new report from the National Association of Realtors (NAR) titled “A Snapshot of Race and Home Buying in America,” Asian and Hispanic Americans achieved historic heights in homeownership rates in 2022 of 63.3% and 51.1%, respectively. The overall U.S. in 2012 to 65.2%

Buyers 476

Buyers Inventory Realtors Mortgage 476

Appraisal Buzz

NOVEMBER 13, 2024

The study found that 48% of buyers said costs were higher than expected, with 39% exceeding their budget and 38% reporting impacts on their savings. Notably, 63% of first-time buyers were surprised by the cost. It was noted that 79% of buyers compromised on at least one priority. Among Gen Z, 49% exceeded their budget—over 1.5

Real Estate 417

Real Estate Sellers Buyers Renovations 417

Housing Wire

MARCH 12, 2024

“While rising interest rates affected all homebuyers, this impact was more pronounced among Hispanic households, many of whom are first-time buyers with lower median incomes and who live in higher priced markets,” according to NAHREP. That’s encouraged the ITIN buyers to come down and start buying.” I’ve even seen grandparents jump in.

Real Estate Agent 482

Real Estate Agent Real Estate Buyers Realty 482

Housing Wire

JULY 18, 2024

SmartAsset analyzed 2022 HMDA data to find mortgages originated for people between the ages of 25 and 44. of millennials in the Raleigh-Cary metro area became homeowners in 2022. The median household income for these buyers was $123,000. Measured by the sheer number of buyers, Atlanta was No.

Buyers 459

Buyers Housing Market Inventory Finance 459

Housing Wire

FEBRUARY 2, 2024

Launched on Thursday, the brokerage’s Sign & Save program provides buyers who sign up to work with a Redfin agent before their second home tour — and who purchase a property with that agent within 180 days of signing the agreement — a refund of 0.25% to 0.5% The buyer will receive the refund at closing.

Agents 493

Agents Real Estate Buyers Advertising 493

Housing Wire

MARCH 27, 2024

Listings jumped at both the state and city levels in 2021 and 2022. Dallas-based United Real Estate burst onto the scene in October 2022 when it acquired EXIT Real Estate Gallery , which had ranked in Jacksonville’s top 10 in three of the four years from 2019-2022. Other would-be disruptors have not fared so well.

Brokerage 476

Brokerage Realty Real Estate Inventory 476

Housing Wire

MAY 20, 2024

Buyers are having a hard time finding single-family homes in their budget because not many homeowners are letting go of their houses, and those who are listing tend to price high because they haven’t come to terms with the fact that prices have come down from their 2022 peak. Census Bureau and the U.S.

Construction 468

Construction Inventory Buyers Sellers 468

Housing Wire

FEBRUARY 6, 2024

Department of Veteran Affairs (VA) handled about 6,400 assumptions, more than double the amount in 2022, according to a report in The Wall Street Journal. An assumable mortgage enables qualified buyers to take over the seller’s mortgage terms, including the existing balance and interest rate.

Mortgage 481

Mortgage Sellers Advertising Buyers 481

Housing Wire

OCTOBER 28, 2024

It was based on the premise that buyer brokers were using commission rates posted on the [ multiple listing service ] to steer buyers to properties that provided higher levels of compensation. … The settlement makes sense — but only on paper. The goal of the settlement was laudable,” Monestier writes. “It

Business 468

Business Sellers Realtors Buyers 468

Housing Wire

MARCH 12, 2024

First piloted in a handful of markets in September 2023 and formally launched in early February, the Sign & Save program provides buyers who sign up to work with a Redfin agent before their second home tour — and who purchase a property with that agent within 180 days of signing the agreement — a refund of 0.25% to 0.5%

Real Estate 471

Real Estate Brokerage Agents Clients 471

Housing Wire

MARCH 29, 2024

Buyers are still buying and sellers are still selling. We definitely noticed a downturn last year, which coincided with interest rates going up, and buyers just put the brakes on things and wanted to wait to see what was going to happen. By late May 2022, this figure had risen to $650,000, according to data from Altos Research.

Housing Market 459

Housing Market Agents Marketing Inventory 459

Housing Wire

MARCH 26, 2024

It was the seventh consecutive month of annual price growth and the biggest increase since November 2022. Our National Composite rose by 6% in January, the fastest annual rate since 2022. Supply is loosening up in some markets, which will provide some relief to home buyers this spring and will ease upward pressure on home prices.

Buyers 493

Buyers Inventory Housing Market Realtors 493

Housing Wire

MAY 29, 2024

In fact, NWMLS said that its own rules on buyer agent compensation are fairer and more transparent than the terms NAR agreed to in March. Instead, the settlement agreement allows for offers of compensation ’off MLS,’ where that information is hard to find and not available to all buyers and brokers.

Sellers 508

Sellers Buyers Brokerage Realtors 508

Housing Wire

FEBRUARY 13, 2024

According to a survey released Tuesday by John Burns Research & Consulting , the top 50 MPCs sold more than 34,600 new homes in 2023, up 24% from the nearly 28,000 sales in 2022. With multiple builders offering an array of home types and floor plans, buyers can find homes that fit their life stage.

Buyers 482

Buyers Design Construction Marketing 482

Housing Wire

MAY 13, 2024

Additionally, in 2022, the Federal Housing Finance Agency (FHFA) increased the fees for second-home loans purchased by Fannie Mae and Freddie Mac. There has been a small uptick in interest in second homes this year, mostly from cash buyers who plan to eventually move in full time. in 2022 and 89.2% in 2022 and 5.1%

Mortgage 459

Mortgage Marketing Buyers Investing 459

Housing Wire

OCTOBER 3, 2024

Zawislak purchased a home in Chicago in 2021 and D’Acquisto bought a home in Bartlett, Illinois, in 2022. It also proposes an Illinois subclass for all persons who purchased a residential property listed on a NAR-affiliated MLS in Illinois between 2022 and the present.

Realtors 448

Realtors Real Estate Sellers Agents 448

Housing Wire

DECEMBER 9, 2023

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. 2022 was a historic year for housing as we had the most significant home sales crash ever, and mortgage rates went from 3% to 7% in the same year.

Mortgage 534

Mortgage Inventory New Listings Sellers 534

Housing Wire

NOVEMBER 7, 2023

In the first half of 2022, home prices in the county were on fire, jumping up by 40% year over year in some neighborhoods as people were pushed out of pricier Austin. 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?’”

Property Taxes 541

Property Taxes Home Value Government Valuation 541

Housing Wire

JANUARY 12, 2024

in mid-2022. For repeat buyers and first-time buyers who entered the market in 2022, the average mortgage rate was above 6%. While that figure is down $325 from the all-time high in 2022, it’s still up 7.4% In the third quarter of 2023, 88.5% homeowners with mortgages had an interest rate below 6%. from a year ago.

Real Estate Agent 493

Real Estate Agent Sellers Inventory Mortgage 493

Housing Wire

JUNE 14, 2024

Buyers today are facing many of the realities of a hot market even though few homes are changing hands,” Redfin senior economist Elijah de la Campa said in the report. And with so few homes for sale, buyers in some markets are getting into bidding wars , which is helping push home prices to record highs.” seen in October 2022.

Sellers 488

Sellers Buyers Contracts Brokerage 488

Housing Wire

JULY 10, 2024

The median gross income for Realtors with at least 16 years of experience rose from $80,700 in 2022 to $92,500 in 2023. But for Realtors as a whole, the median gross income fell from $56,400 in 2022 to $55,800 in 2023. The typical Realtor earned 20% of their business from repeat clients in 2023, down from 27% in 2022.

Realtors 435

Realtors Inventory Agents Clients 435

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. Buyers think it’s a buyer’s market. From March 2020 to July 2022, the median home price rose 23% before hitting a brief lull.

Housing Market 477

Housing Market Marketing Sellers Buyers 477

Housing Wire

JUNE 11, 2024

Over the past year, with all of the adversity happening for buyers and sellers and the industry in general, we have really been focused on trying to find buyers and sellers where they are at,” Offerpad CEO Brian Bair said in a statement. “We In August 2022, iBuyer Opendoor announced a similar partnership with Zillow.

Sellers 488

Sellers Real Estate Agent Buyers Real Estate 488

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.

Real Estate 488

Real Estate Investors HOA Housing Market 488

Housing Wire

JUNE 20, 2024

Looking at Altos Research data on home prices, inventory and days on market over the past five years, Austin’s meteoric rise during the pandemic era — and its abrupt cooldown after mortgage rates started to rise in May 2022 — are evident. Contrast that with June 2022, when the average was a mere 29 days. higher than 2019 prices.

Inventory 486

Inventory Real Estate Housing Market Real Estate Agent 486