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.

Buyers 438

Buyers Mortgage New Listings Real Estate 438

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. ” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!) But the housing market in the second half of 2022? over asking price. High octane stuff. High octane stuff.

Housing Market 513

Housing Market Marketing Real Estate Agent Real Estate 513

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.

Buyers 496

Buyers Mortgage Real Estate Agent Contracts 496

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.

Contracts 448

Contracts Realtors Mortgage Buyers 448

Housing Wire

DECEMBER 10, 2021

As we approach the end of another hot year for the market, homebuyers and sellers are eagerly looking ahead to the 2022 housing market. Demand will continue to be strong into 2022. In a normal market, we tend to see about 30% to 35% of sellers initially over-price their homes and eventually reduce the price to attract buyers.

Housing Market 543

Housing Market Marketing Inventory Sellers 543

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.

Buyers 376

Buyers Investors Technology Training 376

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.

Buyers 392

Buyers Contracts Insurance Mortgage 392

Appraisal Buzz

NOVEMBER 21, 2024

New homes are an attractive alternative for many buyers as existing inventory is still tight in many markets around the country and a newly constructed home provides additional customization options. The average loan size picked up to almost $410,000, the highest in the survey since August 2022.

Mortgage 367

Mortgage Buyers Contracts Construction 367

Appraisal Buzz

SEPTEMBER 26, 2024

NAR’s Pending Home Sales Index (PHSI) is a forward-looking indicator of home sales based on contract signings, ad increased to 70.6 A PHSI reading of 100 is equal to the level of contract activity in 2001. “A However, contract signings remain near cyclical lows even as home prices keep marching to new record highs.” a drop of 2.2%

Contracts 359

Contracts Buyers Mortgage Realtors 359

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.

Housing Market 531

Housing Market Marketing Inventory Contracts 531

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.

Mortgage 510

Mortgage Inventory New Listings Contracts 510

Housing Wire

OCTOBER 7, 2024

There were very few buyers in the fourth quarter 2023. Pending home sales continue to climb There are 362,000 single-family homes under contract. This is measuring the total count of homes that are under contract now. We’re showing 6% more homes under contract now than last year. Rates spiked in the autumn of 2022.

Housing Market 457

Housing Market Marketing Mortgage Contracts 457

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.

Inventory 437

Inventory New Listings Sellers Contracts 437

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.

New Listings 506

New Listings Inventory Contracts Sellers 506

Housing Wire

OCTOBER 21, 2024

Last year in the fourth quarter, buyers were running for the exits. Pending home sales up There were 60,000 single-family homes which took offers and went into contract this week across the country. That’s 9% more than last year and in fact 11% more sales contracts started than the same week in October 2022.

Sellers 436

Sellers Inventory New Listings Contracts 436

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.

New Listings 499

New Listings Inventory Contracts Housing Market 499

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.”

Buyers 410

Buyers Agents Loan Officers Real Estate 410

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.

Housing Market 535

Housing Market Buyers Marketing Real Estate Agent 535

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 527

Inventory New Listings Contracts Sellers 527

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.

Appraisal 397

Appraisal Valuation Modernization Contracts 397

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.

Mortgage 477

Mortgage Inventory New Listings Contracts 477

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.

Contracts 438

Contracts Inventory Housing Market Mortgage 438

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?

Inventory 478

Inventory Contracts Sellers New Listings 478

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?

Inventory 488

Inventory New Listings Contracts Sellers 488

Housing Wire

SEPTEMBER 3, 2024

But while falling interest rates are putting a floor on demand, there’s still no sign of any rush of buyers. We haven’t seen any uptick in buyer urgency, as measured by immediate sales. Pending home sales stay the same There were 64,000 new contracts pending this week for single-family homes. 76,000 total sales this week is 2.5%

Inventory 387

Inventory New Listings Contracts Buyers 387

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.

Housing Market 382

Housing Market Marketing Inventory New Listings 382

Housing Wire

SEPTEMBER 25, 2024

Home prices jump The median price of the homes that went into contract this week jumped to $389,900. It’s the second week in a row with an uptick in the price of the homes going into contract. At that time, demand exploded, buyer competition was intense, there were bidding wars and sight-unseen purchases. Since 2020, the U.S.

Inventory 407

Inventory New Listings Sellers Contracts 407

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.

Inventory 448

Inventory Contracts Sellers New Listings 448

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.

Contracts 454

Contracts Inventory Buyers New Listings 454

Housing Wire

JULY 6, 2024

In March of 2022, we only had 240,000 active single-family homes available for sale, leading me to call the housing market savagely unhealthy as we simply had too many people chasing too few homes. With more sellers who are buyers, we have a tad more demand this year. This is precisely what the doctor ordered for the housing market.

Housing Market 472

Housing Market Mortgage Inventory Marketing 472

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 487

Sellers Buyers Contracts Brokerage 487

Housing Wire

AUGUST 7, 2023

Higher mortgage rates mean higher monthly payments, less affordability for home buyers and slightly fewer transactions. There are 10% fewer homes on the market now than there were in 2022 at this time. So, the number of homes on the market in 2022 increased in September and October which was very unusual. in just a few weeks.

Inventory 305

Inventory New Listings Contracts Sellers 305

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.

Mortgage 490

Mortgage Inventory Marketing New Listings 490

Housing Wire

JULY 13, 2024

However, let’s keep an eye out on this story over the next six months because of what late 2022 and 2023 data has shown us: if the mortgage rates fall and we can get at least two to three months’ worth of positive data, it will show up in the future existing home sales report. have higher inventory data than the national data.

Mortgage 509

Mortgage New Listings Inventory Contracts 509

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 459

Sellers Buyers Real Estate Contracts 459

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.

Housing Market 463

Housing Market Contracts Government Buyers 463

Housing Wire

AUGUST 1, 2023

All year, the strength of homebuyer demand and the tight supply of homes for sale has meant that the market pretty rapidly found a floor on the home-price correction of 2022. The number of buyers has been surprising. But, the price correction stopped right after December 2022. Home prices now are essentially unchanged from 2022.

Inventory 357

Inventory Contracts Buyers Mortgage 357