Appraisal Buzz

SEPTEMBER 5, 2024

The panelists also shared that they think speeding up construction permitting processes, increasing density around transit corridors, and allowing more “missing middle’-type housing are the local and state policy reforms likeliest to increase housing production. in mid-2022. million homes. A recent study by Redfin found that 85.7%

Construction 459

Construction Inventory Housing Market Contracts 459

Eyes on Housing

NOVEMBER 9, 2023

Median square foot prices (excluding record-high improved lot values) for new for-sale single-family detached (SFD) homes started in 2022 increased 18%, according to NAHB’s analysis of the latest Survey of Construction data.

Construction 200

Construction Contracts 200

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 514

Mortgage New Listings Inventory Contracts 514

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 284

Mortgage Buyers Contracts Construction 284

Housing Wire

JANUARY 19, 2023

As the housing market slowed from its frenzied peak in 2022 due to soaring mortgage rates, homebuilders pulled back. An estimated of 1.533 million housing units were started in 2022, down 3.0% Homebuilders closed out 2022 with an annual housing start rate of 1.382 million units in December, down 1.4% Census Bureau and the U.S.

Inventory 418

Inventory Construction Development Housing Market 418

Housing Wire

MARCH 29, 2023

Month-over-month, contract signings increased in three U.S. Overall, contract signings were down 21.1% from February 2022. After nearly a year, the housing sector’s contraction is coming to an end,” he said in a statement Wednesday. from the prior month, though in-contract deals were still down 17% from February 2022.

Contracts 321

Contracts Realtors Home Value Housing Market 321

Housing Wire

OCTOBER 22, 2024

New pending sales are also on the rise, with the 60,000 homes going under contract last week representing a 9% increase from the same week last year and an 11% increase from the same week in 2022. ” Last week, following the release of construction data for September from the U.S.

Sellers 465

Sellers Mortgage Marketing Construction 465

Housing Wire

AUGUST 4, 2024

The Federal Reserve won’t pivot on rates until the labor market breaks and it will keep financial conditions as tight as possible until that happens — this has been my theme since 2022. Employment continued to trend up in health care, in construction, and in transportation and warehousing, while information lost jobs.

Transportation 487

Transportation Construction Marketing Contracts 487

Housing Wire

OCTOBER 26, 2023

Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” Lawrence Yun, NAR chief economist said in a statement. Compared to 2022, NAR expects the sale of new homes to grow by 4.5% between 2022 and 2023, settling at 1.39 They project it to grow by another 19.4%

Inventory 433

Inventory Contracts Housing Market Realtors 433

Housing Wire

MAY 18, 2022

Census Bureau released their new residential construction report for April, showing a miss on the estimate and a negative revisions data line, which I believe is lagging behind the current market reality. As you can see below, the housing demand data from 2002 to 2005 was never apparent in any housing data lines from 2018 to 2022.

Mortgage 493

Mortgage Construction Contracts Housing Market 493

Housing Wire

MARCH 21, 2024

Adding his leadership skills will be beneficial at a time when Planet is looking to differentiate itself with various purchase loan products, one-time-close construction loans and other niche programs, the company stated. Bolstered by its 2022 acquisition of Homepoint ’s delegated correspondent channel, Planet originated $13.9

Lending 431

Lending Retail Contracts Construction 431

Housing Wire

AUGUST 29, 2024

That means currently just over 700,000 single-family homes are unsold, with about 10% of those going into contract each week, and another 75,000 new listings. Since mortgage rates started rising in 2022, Americans have shifted into what we might call The Great Stay. Since 2022, Americans are staying put. We’re moving less.

Inventory 482

Inventory Real Estate Housing Market Construction 482

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. It was in December 2022 that the lender discovered Chikonde’s actions regarding Optimal Blue.

Mortgage 370

Mortgage Marketing Retail Construction 370

Housing Wire

JANUARY 19, 2024

from December 2022 to $382,600 – the sixth consecutive month of year-over-year price increases. Our housing market tracker counts weekly active single-family listings, those homes that aren’t in the contract, and the raw available number of homes for sale. from December 2022 ($366,500). From NAR : Existing-home sales waned 1.0%

Housing Market 489

Housing Market Inventory Contracts Marketing 489

Housing Wire

FEBRUARY 16, 2023

In an odd twist of fate, the delays due to COVID-19 are currently an infrastructure and jobs program for Americans in the construction industry. percent below the January 2022 rate of 1,841,000. percent) below the January 2022 rate of 1,666,000. percent)* above the January 2022 rate of 1,247,000. percent (±15.9

Construction 525

Construction Housing Market Inventory Marketing 525

Housing Wire

OCTOBER 26, 2022

From Census : New Home Sales of new single-family houses in September 2022 were at a seasonally adjusted annual rate of 603,000, according to estimates released jointly today by the U.S. The builders will pull back on construction when the supply is 6.5 months of supply is still under construction 2.1 When supply is 4.4

Construction 488

Construction Inventory Contracts Buyers 488

Housing Wire

MARCH 27, 2023

The ongoing banking instability may affect the availability of jumbo mortgages and residential construction loans due to the high concentration of those originations stemming from small and mid-sized banks, Fannie Mae’s Economic and Strategic Research (ESR) Group said. contraction. While single-family housing starts rose 1.1%

Construction 395

Construction Lending Finance Mortgage 395

Housing Wire

JANUARY 9, 2023

Construction starts in the BFR market are being propelled by the ongoing demand for single-family rental units as high mortgage rates and limited for-sale inventory push home-purchase prospects further out of reach of many would-be homebuyers. as of November 2022. In addition, JP Morgan Chase & Co.

Housing Market 545

Housing Market Marketing Construction Development 545

Housing Wire

SEPTEMBER 12, 2023

So, the author tried to use new construction prices from back in April to describe the whole U.S. New contracts dipped as affordability is out of reach for so many. Inventory grew in 2022 for the seven weeks from mid-September through the end of October. The light portion of the bar are the new contracts that week.

Contracts 434

Contracts Inventory Housing Market Buyers 434

Housing Wire

JANUARY 19, 2023

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. Housing markets continued to weaken, with sales and construction declining across [all 12 Federal Reserve] districts,” according to the Federal Reserve Beige Book released on Wednesday.

Inventory 447

Inventory Housing Market Marketing Construction 447

Housing Wire

MARCH 6, 2024

Still, contacts emphasized that the number of units for sale stayed far short of what they considered a balanced market, and that a dearth of inventories had contributed to faster house price growth from 2022 to 2023. Most expect their pipeline of contracts to keep construction busy through the year.

Mortgage 443

Mortgage Real Estate Inventory Construction 443

Eyes on Housing

AUGUST 11, 2022

During the second quarter of 2022, credit became both tighter and more costly on loans for Acquisition, Development & Construction (AD&C) according to NAHB’s Survey on AD&C Financing.

Construction 182

Construction Contracts Finance Development 182

Housing Wire

DECEMBER 1, 2022

“Higher interest rates further dented home sales, which declined at a moderate pace overall but fell steeply in some Districts,” the report states, noting that “residential construction slid further at a modest pace” and “home prices grew less rapidly or declined outright amid weak demand.”. million in 2023 from 5.67 trillion from $2.34

Housing Market 367

Housing Market Marketing Construction Inventory 367

Housing Wire

JULY 6, 2023

Horton also announced the acquisition of 156 lots and control of around 400 lots through option contracts from Truland affiliates, as well as 201 lots and control of approximately 260 lots through option contracts from third parties. In addition to the Truland acquisition, D.R. These strategic acquisitions will allow D.R.

Contracts 370

Contracts Development Insurance Construction 370

Housing Wire

DECEMBER 19, 2022

With construction costs up more than 30% since inflation began to take off at the beginning of the year, there is little room for builders to cut prices,” NAHB chairman Jerry Konter said in a statement. Looking ahead, Dietz recommended that builders plan one year or more out when thinking about land and construction timelines.

Contracts 447

Contracts Construction Buyers Real Estate 447

Housing Wire

DECEMBER 4, 2020

once we get out to 2022, but we are expecting mortgage rates over the next three years to be far less than they’ve been in the last decade.”. There are a little over 20 million home mortgages outstanding, with a contract interest rate of 4% or higher still in the United States,” he said.

Mortgage 518

Mortgage Contracts Construction Inventory 518

Housing Wire

APRIL 27, 2023

For the first time since November 2022, pending home sales fell in March, posting a 5.2% An index of 100 is equal to the level of contract activity in 2001. In the new construction sector , NAR predicts sales to increase 4.5% The monthly drop resulted in the Pending Home Sales Index recording a reading of 78.9, year over year.

Inventory 459

Inventory Realtors Contracts Construction 459

Housing Wire

MARCH 16, 2023

What we see in this latest starts report is encouraging, as a record number of 5-units are still in construction and anything that gets finished is positive against inflation. As you can see, the 1974 recession destroyed the 5-unit construction production. percent)* above the February 2022 rate of 1,380,000. This is 12.2

Mortgage 521

Mortgage Construction Marketing Contracts 521

Housing Wire

MAY 23, 2023

percent)* above the April 2022 estimate of 611,000. Last year, while the Census Bureau was reporting the new home sales numbers and the builders were having high cancellation rates, the monthly sales report didn’t account for the cancellations of contracts. months and above, the builders will pull back on construction.

Inventory 525

Inventory Housing Market Construction Marketing 525

Housing Wire

FEBRUARY 3, 2023

The loan program can’t be extended, relocked or renegotiated until after the lender receives a fully executed sales contract and is only eligible for up to 30 days of extension. billion in volume in 2022, down 56% from the previous year’s production of $78.13 Guaranteed Rate originated $34.38 About 71.2%

Loan Officers 369

Loan Officers Buyers Contracts Mortgage 369

Housing Wire

AUGUST 23, 2022

So for now, the builders will take their time with the homes under construction and make sure they offer enough incentives to unload the new home supply they’re dealing with. family houses in July 2022 were at a seasonally adjusted annual rate of 511,000, according to estimates released jointly today by the U.S. When supply is 4.4

Construction 370

Construction Housing Market Sellers Real Estate 370

Housing Wire

AUGUST 24, 2023

“In order to achieve a soft landing, economic growth will have to slow to a rate that is below trend for some time in order for the unemployment rate to rise sufficiently to cause wage growth to slow consistent with a 2% inflation target over the long term, but not so slow that the economy falls into a contraction,” the ESR group said.

Construction 284

Construction Retail Mortgage Contracts 284

Housing Wire

MAY 31, 2022

Chicago’s housing market started out hot in 2022. increase year over year for properties under contract, indicating that demand in the city remains strong,” said Elizabeth Anne Stribling-Kivlan, Compass’ senior managing director. trillion in 2022, down significantly from last year’s $4 trillion. during the same time.

Mortgage 397

Mortgage Construction Lending Real Estate 397

Housing Wire

JANUARY 20, 2023

million units, declining from its final estimate of total sales in 2022 and marking the slowest annual pace since 2010, according to its Economic and Strategic Research Group. “We from 2022 levels, but still representing a new home sales pace that is modestly below the pre-pandemic norms. trillion from the previous year.

Mortgage 417

Mortgage Housing Market Buyers Contracts 417

Housing Wire

JANUARY 4, 2023

This article is part of our 2022 – 2023 Housing Market Forecast series. The economy looks to be ending 2022 on a positive note, unfortunately, it doesn’t alter our view that we’ll likely enter a mild recession in the new year. Some of the late incoming 2022 data show significant slowing. million and 4.57

Housing Market 532

Housing Market Marketing Mortgage Contracts 532

Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. Increased homebuilding will tame price growth, while limited construction will lead to home price appreciation outpacing income growth.” On the flip side, newly constructed home sales are forecast to increase 12.3% from 2022 to 2023, to 1.47

Construction 370

Construction Inventory Realtors Housing Market 370

Housing Wire

MAY 13, 2024

We hope that by providing early, proactive, and constructive feedback to FHFA and the GSEs, there will be adequate time to augment the data made available in the planned 3Q 2024 data release as well as in any subsequent data release.” and FICO 10T credit score models as well as the bi-merge credit reporting policy,” the letter added.

Legal 441

Legal Mortgage Contracts Insurance 441