Housing Wire

FEBRUARY 28, 2024

As brokerages across the country have begun implementing buyer agency contracts into their business practices in the wake of the Sitzer/Burnett commission lawsuit verdict, the Consumer Federation of America is warning consumers that they may be filled with “unfair provisions” that primarily protect agents and brokers.

Buyers 478

Buyers Contracts Agents Realtors 478

Housing Wire

JUNE 24, 2024

It looks like we’re heading back to those conditions of the second half of 2022 where inventory grew rapidly, but any real downside correction was mitigated with a withdrawal of supply. Sellers can just wait it out, and it looks like the U.S. I think it’s worth examining if sellers will indeed just wait it out now.

Inventory 457

Inventory Sellers New Listings Property Taxes 457

Housing Wire

JULY 22, 2024

We’re rebounding inventory after the holiday, so it’s not that much of a surprise, and it’s less of a jump than what was happening at this time in 2022. will be significant enough move in rates to move the needle for buyers. So that’s a total of 84,000 total new sellers for single-family homes this week.

Buyers 488

Buyers Inventory New Listings Sellers 488

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

MAY 16, 2024

The MLS is crucial for home sellers , even in a strong seller’s market, as it provides significant financial benefits and access to more potential buyers, according to a recent study by Bright MLS called “On-MLS Study: Measuring the Benefits of an Open and Transparent Housing Marketplace.” They would be wrong.

Sellers 425

Sellers Real Estate Buyers Marketing 425

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

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 529

Housing Market Marketing Real Estate Agent Real Estate 529

Housing Wire

APRIL 10, 2024

Perhaps the most striking detail gleaned from a HousingWire analysis of millions of single-family purchase mortgages is how much more homebuyers had to pay in 2023 compared to 2022. The rapid run-up in mortgage rates after years of low rates was a shock to buyers and a disincentive for prospective sellers to list their homes.

Buyers 468

Buyers Mortgage Brokerage Inventory 468

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. We knew there had to be an efficient way of handling this sort of communication.” From this, HomeKick was born.

Buyers 459

Buyers Realtors Agents Sellers 459

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

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. in August 2022 and marks the highest percentage since October 2022, when mortgage rates surpassed 7% for the first time in two decades. That rate is up from 14.3% That rate is up from 14.3% The median U.S.

Buyers 448

Buyers Mortgage New Listings Real Estate 448

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? and relied on salaried agents rather than commission-paid agents, who typically cost sellers 5-6%. One of the researchers, Will Fried, had a hunch.

Clients 459

Clients Agents Buyers Sellers 459

Housing Wire

AUGUST 26, 2024

year over year in July to reach their highest level since October 2022. year over year to its highest level since October 2022. Not only do you have young families and investors looking at starter homes, you also have buyers who have been forced to consider less-expensive options due to near-record home prices.

Buyers 448

Buyers Inventory Marketing Contracts 448

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

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%

Buyers 397

Buyers New Listings Sellers Mortgage 397

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

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 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 She has also started discussing these details with prospective sellers at listing presentations. “No

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

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

JANUARY 9, 2023

This article is part of our 2022 – 2023 Housing Market Forecast series. These buyers are primarily local community developers who purchase distressed properties and then resell or rent those properties on the retail market following rehab — a process that typically takes six to 12 months. . Cincinnati and Miami.

Retail 505

Retail Sellers Buyers Market Value 505

Housing Wire

NOVEMBER 3, 2023

I actually started out as a buyer’s agent myself… and I see buyer’s agency as being a very valuable tool for buyers,” Sanford said during the Q&A session. I’m concerned, quite frankly, about what this might mean to buyers who may not be able to afford representation if things change up too much.” million to $14.90

Buyers 435

Buyers Realty Real Estate Realtors 435

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

JUNE 11, 2024

According to the release, the integration will allow Offerpad to provide a cash offer to more sellers and will extend Offerpad’s reach to a larger audience of potential sellers. In August 2022, iBuyer Opendoor announced a similar partnership with Zillow.

Sellers 488

Sellers Real Estate Agent Buyers Real Estate 488

Housing Wire

NOVEMBER 20, 2024

Nearly three quarters of recent American home sellers said in a Clever survey that using a traditional real estate agent is the best way to sell. Of the surveyed pool, 42% have sold since late 2022 as rising mortgage rates cooled the post-pandemic market. million members in 2025, at 8% smaller decline than many had expected.

Real Estate Agent 476

Real Estate Agent Real Estate Agents Sellers 476

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. “The modified rule still gives sellers and their listing brokers a role in setting compensation for buyers’ brokers,” the filing states.

Sellers 459

Sellers Buyers Real Estate Contracts 459

Housing Wire

NOVEMBER 13, 2023

Homebuyers’ median household income increased by $19,000 this year from 2022, reaching $107,000, according to the National Association of Realtors ’ 2023 Profile of Homebuyers and Sellers. The report is an annual survey of homebuyers and sellers who closed transactions between July 2022 and June 2023.

Real Estate Agent 435

Real Estate Agent Real Estate Agents Sellers 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. Sellers think it’s a seller’s market. 25 statewide in 2023 transaction volume.

Housing Market 477

Housing Market Marketing Sellers Buyers 477

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 3, 2024

Zawislak purchased a home in Chicago in 2021 and D’Acquisto bought a home in Bartlett, Illinois, in 2022. This rule is no longer in place due to the terms of NAR’s home seller commission lawsuit settlement , which went into effect in August.

Realtors 448

Realtors Real Estate Sellers Agents 448

Housing Wire

JUNE 14, 2024

Data continues to reflect seller-friendly market conditions as the median sale price reached another record high of $439,716 — up 5.1% 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. seen in October 2022.

Sellers 488

Sellers Buyers Contracts Brokerage 488

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

MARCH 6, 2024

Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates. percentage points—sellers take notice. Facing these realities, many would-be sellers decide to stay put. in 2021-2022 and 30.5-31% No wonder, then, that many sellers decided to pull their listings.

Mortgage 468

Mortgage Sellers New Listings Buyers 468

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%. But a lot of sellers are worried about finding their next house because even though listings are rising, there’s still a housing shortage. In the third quarter of 2023, 88.5% from a year ago.

Real Estate Agent 493

Real Estate Agent Sellers Inventory Mortgage 493

Housing Wire

MAY 20, 2024

The second dynamic to watch here is how many sellers are cutting their prices each week. Both dynamics are elevated this year: more of the homes on the market have taken price cuts and the slope is pretty steep — meaning more homes each week are cutting prices because they don’t have offers from buyers.

Inventory 468

Inventory New Listings Sellers Contracts 468

Housing Wire

JANUARY 12, 2023

The housing inventory shortage dominated much of the conversation surrounding the housing market in 2022, but thanks to softening homebuyer demand, the number of active listings finished the year up 54.7% Despite the drop in buyer demand, the median list price was up 8.4% compared to December 2019 and 38.2% from December 2021.

Inventory 534

Inventory New Listings Buyers Sellers 534

Appraisal Buzz

OCTOBER 31, 2024

Commissions paid to real estate agents representing buyers have remained essentially unchanged since new rules on commissions went into effect on August 17 , according to a new analysis from Redfin. Traditionally, sellers paid the buyer’s agent commission as well as their own agent’s commission.

Real Estate Agent 386

Real Estate Agent Real Estate Agents Sellers 386