Housing Wire

APRIL 29, 2024

It’s still April, so there could be as many as eight more weeks of seller growth in the spring housing market. And seller growth is happening pretty much everywhere across the country, with Florida and Texas leading the way. The bearish take is that there are many more sellers than buyers and inventory is rising. orate further?

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Sellers Marketing Inventory Contracts 505

Housing Wire

JANUARY 10, 2023

of home sellers gave concessions to homebuyers in Q4 of 2022, through money for repairs and mortgage-rate buydowns. In Q3 of 2022 and Q4 of 2021, sellers gave concessions in 30% of home sales. When the 30-year mortgage rate was around 3%, there was a higher demand for homes and such deals were not as popular.

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Sellers Real Estate Agent Buyers Mortgage 482

Housing Wire

OCTOBER 11, 2022

There’s a showdown at the housing market corral between homebuyers and sellers. It facilitated a very unhealthy housing market in 2020-2021 that became savage in 2022. To top it all off, we started 2022 at all-time lows, forcing bidding action everywhere until mortgage rates rose. Now fast forward to 2022.

Sellers 514

Sellers Inventory Housing Market New Listings 514

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.

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Inventory Sellers New Listings Property Taxes 412

Housing Wire

SEPTEMBER 29, 2023

Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. home sale price rose 3% year over year, reaching $420,846 in August, the largest annual increase since October 2022. According to the brokerage, 6.5%

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Sellers Buyers Inventory Real Estate Agent 516

Appraisal Buzz

JUNE 14, 2024

There have only been two months in the last decade with fewer home sales: October 2023, when mortgage rates reached a 23-year high, and May 2020, when the pandemic brought the housing market to a halt and home sales to an all-time low. Experts predict sales may increase later this year if mortgage rates gradually fall as projected.

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Sellers Buyers New Listings Mortgage 435

Housing Wire

APRIL 26, 2024

home sellers reaped slimmer profit margins on median-priced single-family homes and condominiums during the first quarter of 2024. Investment returns for sellers fell for the second straight quarter. We saw a similar downward pattern from late 2022 into early 2023, and then the market surged. Home Sales Report.

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Sellers Housing Market Investing Marketing 453

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. The average 30-year fixed rate mortgage rate was its lowest ever at 2.65% on December 31, 2021. It consistently climbed to 3.76% as of March 3, 2022, and as of the date I’m writing this, it is 5.81%.

Sellers 435

Sellers Marketing Market Value Home Value 435

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. It will likely take mortgage rates to go under 6% and stay there for an extended period to get real sustained demand growth from record-low sales levels.

Mortgage 520

Mortgage Inventory New Listings Contracts 520

Housing Wire

AUGUST 22, 2023

“Home sellers are buyers” — this is a phrase that I have been using in my economic work to explain the reality of the housing market recently. So, when home prices and mortgage rates rise so quickly, some sellers won’t list , which means they’re not buying either. million in July 2022). million in July.

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Sellers Marketing Inventory Housing Market 369

Appraisal Buzz

JUNE 3, 2024

of home sellers cut their asking prices during May, the highest share since November 2022. When put together, those metrices suggest that sale-price growth could soften in the coming months as persistently high mortgage rates turn off hungry homebuyers sitting on the sidelines. For now, the median-home sale price is up 4.3%

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Sellers Renovations Buyers New Listings 305

Housing Wire

OCTOBER 5, 2024

18 and mortgage rates and bond yields headed higher. But, we have to remember that mortgage rates had already made an almost 2% move lower since the highs of 2023 without rate cuts, as the bond market always gets ahead of the Fed. This explains the rise in mortgage rates since the Fed cut rates.

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Mortgage Inventory New Listings Retail 507

Housing Wire

JULY 13, 2024

In 2023, following the collapse of Silicon Valley Bank , the spreads between the 30-year mortgage and 10-year yield were at their worst, leading to new cycle highs. This meant mortgage rates were significantly higher than average. Mortgage spreads Last year, the 10-year yield hit 5% and mortgage rates got above 8%.

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Mortgage New Listings Inventory Contracts 513

Housing Wire

OCTOBER 20, 2022

Despite this drop, investment returns for home sellers is still up from 48.8% Metro results for home sellers. of all sales in the third quarter of 2022. in the second quarter of 2022, representing the first quarterly gain in the past year. This is the first decline in home prices in almost three years, down from 57.6%

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Sellers Investing Housing Market Real Estate 428

Housing Wire

SEPTEMBER 15, 2024

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. Purchase application data First, purchase apps is the fastest way to look for positive or negative data at higher or lower mortgage rates. That’s ok — very few people are looking at the data without an agenda.

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Mortgage Inventory New Listings Retail 521

Housing Wire

MARCH 6, 2024

Housing professionals already know that high mortgage rates are bad for business. But with mortgage rates ascending past 7% according to HousingWire’s Mortgage Rates Center , those hopes have so far been dashed in 2024. Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates.

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Mortgage Sellers New Listings Buyers 455

Housing Wire

JUNE 15, 2024

Since May 29, we’ve witnessed a decline in the 10-year yield, which has been favorable for mortgage rates. 10-year yield and mortgage rates After the intense jobs week data , we ran straight into CPI and PPI inflation week, with a Fed meeting thrown in! Once mortgage rates began rising in 2024, some demand was removed.

Mortgage 501

Mortgage Inventory Marketing New Listings 501

Housing Wire

SEPTEMBER 22, 2024

Have we seen the bottom in mortgage rates for 2024 after a crazy roller coaster ride so far this year? My 2024 forecast had a mortgage rate range of 7.25%-5.75%. To get to the lower end of this range, we needed to see two things: the labor market getting softer and the mortgage spreads improving. Yes, here’s how and why.

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Mortgage Inventory New Listings Contracts 521

Housing Wire

JANUARY 10, 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. Sellers saw a market where their homes sold quickly and often above list price as multiple buyers competed to have the winning bid. . for 30-year fixed-rate loans.

Housing Market 545

Housing Market Marketing Construction Inventory 545

Housing Wire

AUGUST 4, 2024

Mortgage rates moved massively lower last week without any Federal Reserve rate cuts, primarily because the labor market is getting softer. Can mortgage rates go even lower? We don’t have that variable this year and spreads have improved earlier than I thought, which has helped mortgage pricing.

Mortgage 517

Mortgage Inventory New Listings Housing Market 517

Housing Wire

FEBRUARY 6, 2024

The elevated interest rate environment has brought an old product, the assumable mortgage, back into fashion. Assumable mortgages remain a niche market compared to new mortgage issuance. An assumable mortgage enables qualified buyers to take over the seller’s mortgage terms, including the existing balance and interest rate.

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Mortgage Sellers Advertising Buyers 441

Housing Wire

MARCH 23, 2024

Mortgage rates had a chance to break to new highs this year, but the Federal Reserve took a moderate tone at the last Fed meeting. We saw the benefit of lower mortgage rates with the last two existing home sales reports, which showed growth. Then mortgage rates rose, facilitating five weeks of negative purchase application data.

Mortgage 520

Mortgage Inventory New Listings Housing Market 520

Housing Wire

APRIL 15, 2024

We saw a big jump in mortgage rates last week. The 30-year fixed rate mortgage, according to the HousingWire Mortgage Rates Center , is now over 7.2% — that’s 50 basis points above where we were at the start of the year. At that time, most of the voices in the media assumed that mortgage rates had peaked and would fall by now.

Inventory 446

Inventory Mortgage New Listings Sellers 446

Housing Wire

JUNE 22, 2024

Are we seeing the start of a market shift in mortgage demand? Notably, mortgage rates have been gradually declining, and we’ve observed back-to-back positive weeks in purchase application data for the first time since mid-March. For now, we just had back-to-back weeks of positive growth, with mortgage rates still around 7%.

Mortgage 443

Mortgage Inventory New Listings Contracts 443

Housing Wire

AUGUST 6, 2024

Mortgage rates are dropping fast. Mortgage rates are now the lowest they’ve been in over a year. Last year at this time, mortgage rates were rising, eventually peaking at 8% in October 2023. Are we past the opportunity for declining mortgage rates to help demand and pick up home sales in 2024? Overall, there are only 4.6%

Mortgage 481

Mortgage Inventory New Listings Contracts 481

Housing Wire

DECEMBER 9, 2023

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. This happened even with higher home prices and higher mortgage rates in 2023. Now lets take a look at the weekly inventory data.

Mortgage 533

Mortgage Inventory New Listings Sellers 533

Housing Wire

MAY 26, 2023

Secret Service , notified the title industry of a rise in what is known as vacant lot fraud, or seller impersonation fraud. “We We started to hear a lot about seller impersonation fraud early on in the year,” Tyler Adams, the CEO of CertifID, said. “We Oftentimes this leads to the discovery of vacant lots. billion, up from $6.9

Sellers 394

Sellers Real Estate Realtors Real Estate Agent 394

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

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Mortgage Marketing Retail Lending 526

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” But the housing market in the second half of 2022? A mortgage rate lockdown freezes the housing market. over asking price.

Housing Market 524

Housing Market Marketing Real Estate Agent Real Estate 524

Housing Wire

AUGUST 13, 2024

In these contracts – also known as “land contracts” or “bond for deed” –the seller retains the legal title to a home until the borrower completes all the payments, leading to some “traps,” according to the CFPB. According to a The Pew Charitable Trusts study, over 8 million Americans have used land contracts and, as of 2022, about 1.4

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Contracts Mortgage Law Sellers 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.

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Housing Market Mortgage Inventory Marketing 475

Housing Wire

MARCH 2, 2024

The mortgage rate lockdown premise says that if rates rise, inventory can’t grow meaningfully. The idea is that nobody will trade their low mortgage rates to buy another home — even though this happened every week last year. With mortgage rates higher, will this stop inventory from growing year over year?

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Inventory Mortgage New Listings Housing Market 535

Housing Wire

APRIL 30, 2024

Mortgage rates inched higher last week ahead of the Federal Reserve ’s Federal Open Markets Committee on Wednesday and the national jobs report on Friday. Unsold inventory was nearly 32% higher than at this time last year and 90% higher compared to the end of April 2022. “The

Mortgage 428

Mortgage New Listings Inventory Sellers 428

Housing Wire

SEPTEMBER 13, 2022

The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. in 2021 and as high as 6.25% in 2022. It wasn’t the rate move that caught my attention — it was the new listing data. The parts of the U.S.

Mortgage 524

Mortgage Inventory New Listings Sellers 524

Housing Wire

OCTOBER 29, 2024

Economists pointed to lower mortgage rates as the reason for slower growth. According to Bright MLS, it’s the slowest annual gain in 2024 thus far and the first monthly decline since December 2022. On a non-seasonally adjusted basis, the national home price index posted a 4.2% gain year over year, less than the 4.8% gain from July.

Mortgage 451

Mortgage Sellers Buyers Housing Market 451

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. Residential mortgage originators are responsible for filing data with the CFPB under the Home Mortgage Disclosure Act.

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Buyers Mortgage Brokerage Inventory 443

Housing Wire

MARCH 5, 2024

Ahead of Friday’s national jobs report, mortgage rates have found stability after increasing for multiple weeks. Polly ’s average 30-year fixed rate for conventional loans was 7.17% on Tuesday, down from 7.24% one week earlier, according to HousingWire’s Mortgage Rates Center. one week earlier. Between Feb.

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Mortgage Inventory Investors Sellers 479