Housing Wire

JANUARY 25, 2023

As mortgage rates continue to decline, Chad Earnest’s mantra with his referral partners in 2023 is “no buyer left behind.” The Montgomery, Texas-based area manager, who moved from AmeriSave Mortgage Corporation to Cardinal Financial Company in November, launched in mid-2022 a platform to help their referral partners succeed.

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Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. of homes that went under contract that month, according to a new report from Redfin. A lot of sellers are also willing to let buyers slip away because they don’t want to concede to repair requests,” Morre said.

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Housing Wire

DECEMBER 30, 2024

There are a few markets in the South where home prices have inched down recently and every bit helps buyers but those prices have not adjusted much, and theres no sign of any major correction in the works. Inventory continues to contract There are now 651,000 single-family homes unsold on the market across the U.S.

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Housing Market Marketing New Listings Inventory 543

Housing Wire

APRIL 13, 2021

“If they get a higher offer that has financing, then when appraisal comes back, the buyer is going to renegotiate the sales price to be closer to appraised value.”. Garrett said aside from cash buyers, he also has clients who have money to offset any appraisal gap. Either way, it puts the squeeze on property valuation.

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Housing Market Buyers Marketing Real Estate Agent 535

Housing Wire

JANUARY 27, 2023

Pending home sales ended 2022 on a positive note. An index of 100 is equal to the level of contract activity in 2001. “We Interested buyers are out there. After six consecutive months of declines, the Pending Home Sales Index rose 2.5% month over month in December to a reading of 76.9, compared to December 2021.

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Appraisal Buzz

JUNE 20, 2024

Buyers are also avoiding earlier stages of the house-hunting process. Buyers are retreating primarily due to high home costs. Another explanation for the drop in pending sales is a scarcity of new, desirable listings for buyers to select from. pt YoY change, the highest level since November 2022. New listings are up 7.7%

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Housing Wire

JUNE 23, 2022

Co-founded in 2019 by Tim Herman and Louis Wilson, the lender and “power buyer” allows homebuyers to make all-cash offers to compete with institutional investors. UpEquity earns a commission from brokering or selling the mortgage buyers take out to buy their homes.

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Buyers Investors Technology Training 418

Appraisal Buzz

JULY 23, 2024

of all homes under contract, being canceled in that month alone. Buyers are getting more and more selective,” said Julie Zubiate, a Redfin Premier real estate agent in the San Francisco Bay Area. of the residences that were under contract in that month. of homes that went under contract. of homes that went under contract.

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Buyers Contracts HOA Property Taxes 396

Appraisal Buzz

DECEMBER 27, 2021

Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. Meanwhile, buyers are plucking up homes left and right. Experts expect home price growth to moderate in 2022, but the lessons learned over the past two years are sure to change the industry in the long term.

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Appraisal Valuation Modernization Contracts 397

Housing Wire

JANUARY 2, 2024

Inventory is slowly but steadily increasing over last year, which means slightly more options for buyers this spring. We have more homes going into contract each week now than we did a year ago — supply and demand are climbing together. There are now 258,000 single family homes in contract. Sales rates are climbing.

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Housing Market Marketing Inventory Contracts 531

Housing Wire

JANUARY 25, 2023

Buyers who qualify in these metro areas can use the assistance to purchase a house anywhere in the U.S., Guaranteed Rate renewed its contract with translation company TransPerfect on Tuesday to provide homebuyers with Spanish-speaking agents and other resources. Its total loan volume amounted to $116 billion in 2021.

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Housing Wire

MARCH 25, 2024

I like to point out that consumers are more sensitive to changes in mortgage rates than to the absolute levels, and since rates are now basically unchanged for the month, just easing down from the early March peak of 7.2%, sellers and buyers are tip-toeing back into the market. There were another 15,000 condos into contract.

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New Listings Inventory Contracts Sellers 511

Housing Wire

DECEMBER 28, 2024

During the first few years of COVID-19 recovery, there was an unhealthy imbalance, with too many buyers competing for too few homes. For example, in March 2022, there were only 240,000 homes available for sale. Weekly inventory change (Dec. 27): Inventory fell from 667,466 to 650,992 The same week last year (Dec.

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Inventory Housing Market Marketing New Listings 514

Housing Wire

OCTOBER 31, 2023

New listings decline isn’t as steep as a year ago There were only 53,000 new listings (single-family homes) unsold this week, plus 10,000 more new listings that are already in contract. Soaring mortgage rates stifle buyer demand There are only 319,000 single-family homes in the contract- pending stage.

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New Listings Inventory Contracts Housing Market 511

Housing Wire

MAY 28, 2024

No one wants a scenario in which there’s a flood of sellers but no buyers. You can also see the light red line from 2022 when rates were first skyrocketing. Inventory in 2022 was building much more quickly than it is now. There were 72,000 new listings unsold and another 18,000 listings that are already under contract (i.e.,

Inventory 534

Inventory New Listings Contracts Sellers 534

Housing Wire

JANUARY 29, 2024

The headline was an impressive 8% jump over December of 2022. Homes in contract rises There are more homes in contract now than last year at this time. Sales growth is not guaranteed This week there were 56,000 contracts started for single-family home purchases. We can see home buyer demand when rates are stable the 6s.

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Contracts Inventory Housing Market Mortgage 448

Housing Wire

DECEMBER 18, 2024

Oyssey , a tech startup founded in 2022, is leveraging social data including age, education and income demographics as a means of understanding homebuyers beyond their standard housing preferences. According to CEO and co-founder Huw Nierenberg, Oyssey is an “invite-only, through select buyer’s agents, home search platform.”

Real Estate 397

Real Estate Real Estate Agent Brokerage Contracts 397

Housing Wire

APRIL 1, 2024

As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. Pending sales Last week saw 69,000 new contracts for single-family home purchases across the country. That brings us to 367,000 single-family homes in the contract pending stage. Why the difference?

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Inventory New Listings Contracts Sellers 488

Housing Wire

OCTOBER 28, 2021

An index level of 100 is equal to the level of contract activity in 2001. Contract transactions slowed a bit in September and are showing signs of a calmer home price trend, as the market is running comfortably ahead of pre-pandemic activity,” Lawrence Yun, NAR’s chief economist, said in a statement. The index dropped to 116.7

Inventory 448

Inventory Renovations Contracts Buyers 448

Housing Wire

SEPTEMBER 28, 2024

Housing demand is very seasonal, so the fact that our pending contract data is firming up lately just shows that lower mortgage rates have stabilized and firmed up demand recently. Weekly pending sales Below is the Altos Research weekly pending contract data to show real-time demand. Weekly inventory change (Sept.

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Mortgage Inventory New Listings Contracts 525

Housing Wire

MAY 6, 2024

There are now 83% more homes on the market than in May 2022. These are new listings that are already under contract, so they’re not counted in the active inventory. In 2022, however, there were 105,000 single-family homes listed for sale in the first week of May. There were 78,000 new contracts pending for single-family homes.

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Inventory Contracts Sellers New Listings 476

Housing Wire

SEPTEMBER 7, 2023

Rising mortgage rates mean rising inventory as home buyer demand slows quickly. Mortgage rates have been rising, making homes more expensive to buyers and obviously slowing demand. Contrast that to last year, the light red line, when inventory kept climbing until rates finally peaked in November 2022. That’s this year.

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Contracts Inventory Buyers New Listings 468

Housing Wire

OCTOBER 28, 2024

The median price of the homes that went into contract this week — these are the new purchase offers with contracts pending — is now 6% greater than last year. These are the homes that got listed for sale and took offers and went into contract within just a few days of listing. The big change in rates was 2022.

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Inventory New Listings Sellers Contracts 476

Housing Wire

SEPTEMBER 7, 2023

That partnership is everything,” Amy Breach, a Seattle-based Keller Williams agent, told HousingWire in late 2022. But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. The lender and LO can make or break the transaction.”

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Buyers Agents Loan Officers Real Estate 418

Housing Wire

SEPTEMBER 28, 2023

below the August 2022 level. An index of 100 is equal to the level of contract activity in 2001. Pending home sales, like new home sales, are based on contract signings. Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers,” Lawrence Yun, NAR chief economist said.

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Housing Market Contracts Government Buyers 497

Housing Wire

DECEMBER 16, 2022

This article is part of our Housing 2022-23 forecast series. In the first few months of 2022, primary-residence buyers and second-home buyers (investors and vacation buyers) flocked to the market at a frenzied pace under the correct assumption that mortgage rates would rise.

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Buyers Realtors Inventory Sellers 497

Housing Wire

NOVEMBER 1, 2021

If you’re planning on staying in the mortgage business in 2022, you’re probably already shifting your strategy to better enable you to originate purchase money loans next year. The purchase money mortgage transaction begins with the real estate sales contract and that’s not something our industry controls. Don’t be left behind.

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Real Estate Agent Real Estate Agents Lending 448

Housing Wire

APRIL 29, 2024

The bearish take is that there are many more sellers than buyers and inventory is rising. Even if the imbalance of more sellers than buyers continues, more sales will happen, especially compared to last year at this time. You have to go back to July 2022 to find this much seller activity in a given week. orate further?

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Sellers Marketing Inventory Contracts 508

Housing Wire

JULY 29, 2024

New home sales contracts are coming in pretty consistently fewer than last year — 4.9% Our Immediate sales measure of homes that get listed, take offers and go into contract in a few days is also notably lower than last year. I’d guess sellers are as tired waiting for mortgage rates to fall as buyers are.

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Housing Market Marketing Inventory New Listings 458

Housing Wire

MAY 13, 2024

If you need to communicate about the real estate market with buyers and sellers, you should join us. It’s the peak season for buyers and sellers. Remember that, back in 2022, as mortgage rates were rising quickly, so too was inventory. Pending sales The total count of homes under contract is just barely above that of May 2023.

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New Listings Contracts Inventory Sellers 501

Housing Wire

JUNE 15, 2024

Mortgage spreads The spread between the 30-year mortgage rate and the 10-year yield has been an issue since 2022 and things got worse after the March 2023 banking crisis. If mortgage rates keep falling and demand picks up, we will have a much better buffer with active inventory than in 2022 and 2023.

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Mortgage Inventory Marketing New Listings 508

Housing Wire

JULY 8, 2024

There were another 16,000 new listings that are already under contract as immediate sales — that’s 87,000 total sellers this week. We have a few more sellers each week, and just about the same number of buyers; therefore, inventory is growing. This week recorded 8% fewer contracts than a year ago. So what do we see now?

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Inventory Contracts Sellers New Listings 482

Housing Wire

APRIL 22, 2024

But when you add a spike in mortgage rates that makes homebuying less affordable, that leads to fewer buyers and inventory grows. There’s a limit, of course, as we could eventually reach an imbalance if too many sellers flood the market and too few buyers follow suit. There are still 8% fewer sales happening each week than in 2022.

Inventory 531

Inventory New Listings Sellers Contracts 531

Housing Wire

AUGUST 6, 2024

Still, this affordability boost is good for any buyers in the market now. Pending home sales up The number of new contracts ticked up a couple percentage points this week to 66,000, with another 13,000 condo sales started. If cheaper money motivates a few buyers to move off the sidelines, then we should see it here.

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Mortgage Inventory New Listings Contracts 482

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.

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Sellers Buyers Contracts Brokerage 488

Housing Wire

JUNE 22, 2024

Purchase application data When mortgage rates fell more than 1% lower in late 2022 and 2023, we saw a sustained bounce higher in purchase application data, which eventually lead to a higher monthly sales print. With more sellers who are buyers, we have a tad more demand this year. Mortgage rates didn’t move too much either way.

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Mortgage Inventory New Listings Contracts 482

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.

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