Housing Wire

APRIL 13, 2021

year-over-year increase in home values. Rapidly accelerating home prices come with a variety of challenges for lenders and real estate agents, including one of the biggest pain points right now — the appraisal gap. “If Garrett said aside from cash buyers, he also has clients who have money to offset any appraisal gap.

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Real Estate News

FEBRUARY 24, 2023

A new Redfin report found the total value of U.S. homes has dropped $2.3 trillion since June 2022, with the biggest declines in the San Francisco Bay Area.

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Appraisal Buzz

JANUARY 22, 2025

While builders response has kept multifamily rent growth steady for several months and stubbornly high mortgage rates are limiting buyer demand and home value increases, detached single-family home rentals are still rising at an accelerating rate. In the meantime, owned home value growth has leveled out at 2.6%

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Appraisal Buzz

OCTOBER 18, 2024

This was due to the leveling of home prices: After bouncing up in the spring and then flattening, the median home value was virtually unchanged at the end of the third quarter at about $360,000. Home values remained at or near record levels around large swaths of the country, keeping seller profits far above historical levels.

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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.

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Housing Wire

FEBRUARY 4, 2022

This article is part of our HousingWire 2022 forecast series. After the series wraps, join us on February 8 for the HW+ Virtual 2022 Forecast Event. 2022 Forecast series. What are the drivers of housing demand in 2022? 5 predictions for the 2022 housing market.

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Appraisal Buzz

DECEMBER 30, 2024

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. In fact, the Federal Home Loan Mortgage Corporation expects prices to growin 2025. Simply putlow inventory leads to higher home prices.

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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?’”

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Appraisal Buzz

JUNE 20, 2024

home, a buyer making the median income needs to put down nearly $127,750, or 35.4%. Just five years ago, when mortgage rates were hovering just above 4% and the typical home was worth nearly 50% less, that home would have been affordable with no money down. home , currently valued at $360,681, up 4.3%

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Housing Wire

JULY 28, 2023

As a result of the limited supply, still-rising prices and elevated mortgage rates, sales activity for starter homes has stifled. home , assuming a 20% downpayment, rose 12.4% from June 2022, according to Realtor.com economic researcher Hannah Jones. asking rent is just $24 shy of the $2,053 peak hit in 2022.

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Appraisal Buzz

JANUARY 23, 2025

While the gross profit on median-priced single-family home and condo sales did inch up approximately $2,000 from 2023, the typical profit margin stood eight percentage points below a peak hit in 2022. The downward investment-return trend continued despite the median national home price rising 5% to another annual record of $350,000.

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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. “I’m booked all the way until 2022,” he said. With a median listing price of $92,000, Bay City is luring people from all over the country. .

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Appraisal Buzz

DECEMBER 11, 2024

Key Findings Million-dollar homes are more common, but theyre not everywhere yet. Across the nations 50 largest metros, 10.57% of owner-occupied homes were valued at $1 million or more in 2023, up from 7.71% in 2022. San Jose and San Francisco have the largest share of million-dollar homes. percentage points (1.32

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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%. Presented by: Doma.

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Appraisal Buzz

JULY 18, 2022

Unless you’re living under a rock, you have heard that interest rates have been rapidly increasing since Q1 of 2022. It consistently climbed to 3.76% as of March 3, 2022, and as of the date I’m writing this, it is 5.81%. Naturally, this has forced buyers to seek lower price points or has completely eliminated them from the market.

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Housing Wire

NOVEMBER 28, 2023

That’s because the FHFA’s conforming loan limit increase is based on a formula related to home-price data in the third quarter of each year. The regulator compares home prices year over year and adjusts the limit by the corresponding amount. Ultimately, the FHFA announced a 12.21% increase in loan limits for 2023.

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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. .

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Appraisal Buzz

AUGUST 19, 2024

The record high in home prices—the median sale price nationally increased by 4% in June—has led to a record high in the percentage of American homes valued at $1 million or more. Recent declines in mortgage rates have given buyers a small respite, increasing their purchasing power by tens of thousands of dollars.

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Appraisal Buzz

OCTOBER 8, 2024

Across these 50 metro areas, the vacancy rate increased somewhat from 7.22% in 2022 to 7.37% in 2023. In contrast to 2022, vacancy rates decreased in Tampa from 12.15% but increased in New Orleans and Miami from 13.88% and 12.65%. Miami, New Orleans, and Tampa, FL, have the greatest rates of vacancy. 11.81% and 12.92%, in that order.

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Housing Wire

JULY 25, 2024

According to data from the Survey of Consumer Finances maintained by the Federal Reserve , the share of Americans ages 75 and older who have mortgage debt has risen from 5% in 1995 to 25% in 2022. A number of reasons have been offered by experts for these changes.

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Housing Wire

JANUARY 25, 2023

This article is part of our 2022 – 2023 Housing Market Update series. After two years of runaway home prices, the Federal Reserve stepped in to reverse engineer rampant inflation, and it has been utilizing the housing market as one of the main economic engines to achieve its objective. in September 2022. They eased below 6.5%

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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 billion in 2021 to $4.6

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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.

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Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. Home prices decelerated for seven consecutive months in October, according to the latest S&P CoreLogic Case-Shiller National Home Price Index , posting a yearly gain of 9.2%.

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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. Home prices are beginning to fall from post-pandemic peaks but remain up 12.1% as of Sept.

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Housing Wire

NOVEMBER 18, 2024

Home insurance premiums have climbed 45% from 2017 to 2022, contributing to a slowing sales market. In California, where housing affordability is a longstanding issue, low inventory and intense competition have driven the average home value to $771,057, with Los Angeles nearing $947,245, according to Zillow data.

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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% Metro results for home sellers.

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Housing Wire

AUGUST 16, 2024

The number of home purchases by investors rose 3.4% year over year in Q2 2024, the largest increase since Q2 2022, according to a report published Thursday by Redfin. home purchases fell 1.9% during the same period, which Redfin attributed to elevated mortgage rates and home prices. In comparison, total U.S.

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Investors Tenants Real Estate Property Taxes 468

Housing Wire

JANUARY 17, 2024

Did you know that in 2022, both younger and older Baby Boomers made up the largest generation of American homebuyers? This cohort accounted for 1,950,000 properties — equating to 39% of total homes purchased! stares down the barrel of a considerable economic downturn.

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Appraisal Buzz

JULY 1, 2024

“Home prices increased again this March beyond the typical seasonal uptick, despite mortgage rates reaching this year’s high and the affordability crunch continuing to keep many prospective buyers on the sidelines,” said Dr. Selma Hepp, Chief Economist for CoreLogic. There is some variance in 2023 activity, though.

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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. Housing teachers Aspen is famous for ski slopes and luxury housing.

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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 Buyers are facing a housing market that looks to be as competitive as ever,” Handy said in a statement. Year over year, all regions saw decreases in new home sales, except for the Northeast which recorded a 7.5%

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Housing Wire

FEBRUARY 6, 2023

Home prices growth and mortgage rates have come down from the peaks in 2022, but affordability still remains a challenge. Prior to the pandemic, buyers paid closer to 0.5 December did see home values post their sixth consecutive monthly decline, and prices at the national level are now 5.3%

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Housing Wire

MARCH 29, 2023

Pending home sales decreased in all four regions compared to one year ago. from February 2022. Even though rates ticked up in February, some buyers took the plunge anyway, anxious that mortgage rates would be moving even higher this spring.” The number of pending homes in the Northeast rose 6.5% from February 2022.

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Housing Wire

JULY 29, 2022

metropolitan areas in February 2022, based on year-over-year growth in median listing price according to the residential real estate listing website, Realtor.com. Table 1: 10 Hottest Housing Markets out of the Top 250 Metro Areas, February 2022. Table 2: 10 Hottest Housing Markets out of the Top 250 Metro Areas, June 2022.

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Housing Wire

SEPTEMBER 11, 2023

HousingWire: According to ATTOM Data Solutions‘ latest foreclosure market report, bank repossessions climbed 9% in the first half of 2023 compared to the first half of 2022. Michael Chew: First, consider the first half of 2022; some areas were still dealing with or just coming out of pandemic -related foreclosure moratoriums and restrictions.

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Appraisal Buzz

AUGUST 16, 2024

year-over-year—the largest increase since mid-2022, according to a new report by Redfin, a real estate brokerage. Investors bought approximately one out of every six homes sold in the quarter, representing $43 billion in transactions, marking a 13.7% Despite the renewed investor interest, overall home purchases in the U.S.

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