Appraisal Buzz

OCTOBER 16, 2024

median rent is still only $17 (-1.0%) below its peak from August 2022, despite the overall fall. from its peak in October 2022. The post Buyers and Sellers Embrace Market in Wake of Mortgage Rate Dip first appeared on The MortgagePoint. At $1,743, the median asking rent decreased by $8, or -0.5%, from the prior year.

Sellers 418

Sellers Buyers Marketing Mortgage 418

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 366

Inventory Sellers New Listings Property Taxes 366

Housing Wire

OCTOBER 22, 2024

Data from Altos Research shows that higher mortgage rates aren’t necessarily keeping sellers from listing their homes. 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.

Sellers 410

Sellers Mortgage Marketing Construction 410

Housing Wire

JUNE 10, 2024

In the 24 months beginning March 2022, the U.S. However, if you ask, most people think the mortgage lock-in occurred in 2022. million fewer home sales between March 2022 and December 2023. What’s not measured in the FHFA paper is how by 2023, seller volume had already been declining for nearly a decade.

Mortgage 388

Mortgage Inventory New Listings Sellers 388

Housing Wire

DECEMBER 30, 2024

However, there are two big trends that stand out as we launch into 2025 affordability and sellers in the market. The other trend to watch is whether we finally have more sellers entering the market in 2025. There are some signals that seller volume is starting to creep back to normal levels. These are unsold new listings.

Housing Market 543

Housing Market Marketing New Listings Inventory 543

Appraisal Buzz

NOVEMBER 13, 2024

More than half of home buyers (52%) negotiated with the seller, with 94% of those who did achieving success. About 34% of buyers paid below the asking price in 2024—up from 27% in 2022, when the market was more favorable to sellers. home ($501,500) adding $75,255, the upfront cost totals a staggering $107,230.

Real Estate 417

Real Estate Sellers Buyers Renovations 417

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 468

Sellers Real Estate Agent Buyers Real Estate 468

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 511

Marketing Sellers Buyers Realtors 511

Housing Wire

MAY 20, 2024

The second dynamic to watch here is how many sellers are cutting their prices each week. It’s not as steep as 2022 — the market now is not shifting as quickly from big growth to price declines, like it did briefly about 18 months ago. That’s a pinch fewer sellers than last week, still 13% more sellers each week than a year ago.

Inventory 428

Inventory New Listings Sellers Contracts 428

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.

Real Estate Agent 471

Real Estate Agent Real Estate Agents Sellers 471

Housing Wire

JUNE 13, 2024

Agents who are members of My State MLS will be able to enter their seller’s address into the MLS system, and after answering a few questions, receive a preliminary cash-offer estimate from Opendoor to review with their client. If the seller chooses to pursue Opendoor’s offer, they will then be directed to Opendoor to continue the process.

Sellers 442

Sellers Agents Realty Clients 442

Housing Wire

OCTOBER 28, 2024

While Monestier, who reportedly sold her Rhode Island home in 2022 and is part of the affected class, believes sellers were paying “inflated commissions,” she feels that prior to the settlement changes going into effect, the rules governing the industry were “clear and confusion did not reign supreme.”

Business 442

Business Sellers Realtors Buyers 442

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% Sales are sluggish because high homebuying costs are making both house hunters and prospective sellers skittish. seen in October 2022. in May 2022. year over year. That was up from 13.2%

Sellers 485

Sellers Buyers Contracts Brokerage 485

Housing Wire

OCTOBER 31, 2023

There are far fewer sellers now than in any recent year. However, last year’s seller decline was much more steep. By next week, we could have more new sellers than this time last year. Both 2022 and 2023 were marked by sharp increases in mortgage rates. Price cuts are still on the rise About 38.9%

New Listings 483

New Listings Inventory Contracts Housing Market 483

Housing Wire

MAY 29, 2024

It also cited its 2019 elimination of a requirement that a seller offer compensation to the buyer’s broker, as well as changes in 2022 that require any compensation to the buyer’s agent be set and paid by the seller rather than the listing broker.)

Sellers 504

Sellers Buyers Brokerage Realtors 504

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 417

Mortgage Sellers New Listings Buyers 417

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%. Sellers have started coming out of the woodwork because that’s typical for January and because mortgage rates have dropped,” David Palmer, a Redfin Premier real estate agent in Seattle, said in a statement.

Real Estate Agent 486

Real Estate Agent Sellers Inventory Mortgage 486

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 457

Sellers Buyers Real Estate Contracts 457

Housing Wire

JULY 8, 2024

New listings show 12% more sellers than a year ago When we look at the new supply hitting the market each week, we see the same trend we’ve had for a few months. There are more sellers than a year ago, but still not a lot of sellers. That’s 114,000 sellers vs. 87,000 now. We see that sellers are still restricted.

Inventory 468

Inventory Contracts Sellers New Listings 468

Housing Wire

OCTOBER 28, 2024

New listings go up This year continues to have slightly more sellers than last year but fewer than we used to get in past years. When you add it all together, there were just a 2% more new sellers hitting the market this week than a year ago. I mentioned that Florida rebounded this week with sellers that postponed for the storms.

Inventory 414

Inventory New Listings Sellers Contracts 414

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. 2022 was a historic year for housing as we had the most significant home sales crash ever, and mortgage rates went from 3% to 7% in the same year.

Mortgage 521

Mortgage Inventory New Listings Sellers 521

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. As previously mentioned, any signs of rising seller volume is helpful to this market.

Inventory 515

Inventory New Listings Contracts Sellers 515

Housing Wire

DECEMBER 9, 2024

That shortage reached its crisis peak in January 2022. Supply growth could also come from more sellers, such as investors or distressed borrowers unloading. However, in most of the country, we have no growth from the seller side. Weve been averaging about 8% more sellers each week than a year ago.

Housing Market 416

Housing Market Marketing Inventory Sellers 416

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 471

Mortgage Inventory Marketing New Listings 471

Housing Wire

DECEMBER 23, 2023

Even with all the drama we have dealt with in 2022-2023, the housing market stayed intact and never broke. However, one thing is sure: from 2020 to 2023 we never saw credit-stressed home sellers. However, the key to this data line is that we want to see real year-over-year growth in the spring of 2024 — back to levels of 2021 and 2022.

Housing Market 519

Housing Market Marketing Inventory New Listings 519

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. So that’s a total of 84,000 total new sellers for single-family homes this week. That’s only 3% more sellers total this week than last year at this time.

Buyers 442

Buyers Inventory New Listings Sellers 442

Housing Wire

APRIL 22, 2024

We’re rapidly approaching the peak of the market in terms of seller listings, and as inventory builds, the sales rate will peak by the end of June. We are also consistently measuring more sellers coming back into the market. In fact, there are more new sellers this week than in any week of 2023. But we’re not close to that yet.

Inventory 479

Inventory New Listings Sellers Contracts 479

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. More sellers means more sales will happen.

New Listings 496

New Listings Inventory Contracts Sellers 496

Housing Wire

JULY 20, 2024

Low inventory has plagued the housing market since the pandemic, plummeting to all-time lows in March of 2022 when we only had 240,000 single-family homes available for sale. The seasonal decline in new listings will begin soon and we will see if we get fewer sellers in the second half of the year than the current trend.

Inventory 521

Inventory New Listings Contracts Mortgage 521

Housing Wire

JUNE 3, 2024

New listings dry up On the other hand, inventory can’t build too much if sellers don’t sell. There are some signals of seller volume drying up. Seller volume in 2024 had been slowly growing, and I viewed that as an optimistic trend. Seller volume in 2024 had been slowly growing, and I viewed that as an optimistic trend.

Inventory 487

Inventory Contracts New Listings Sellers 487

Housing Wire

MARCH 23, 2024

As we can see in the chart below, the 10-year yield and mortgage rates have made a massive move higher since 2022. However, whenever the 10-year yield falls with duration, as we saw toward the end of 2022 and into 2023, it sends mortgage rates lower, and we can grow sales from these record-low levels.

Mortgage 514

Mortgage Inventory New Listings Housing Market 514

Appraisal Buzz

OCTOBER 31, 2024

A History of Policy Change In mid-March of this year, NAR announced an agreement to resolve litigation over broker commission claims asserted on behalf of home sellers. 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

Housing Wire

JANUARY 20, 2023

And existing home sales crashed in 2022 from a peak of around 6.5 The lack of sellers is also a demand problem and what we saw after June of 2022 is that sellers called it quits earlier and faster in the year than usual, resulting in total existing home sales totaling 5,030,000 to end 2022.

Inventory 537

Inventory Housing Market New Listings Marketing 537

Housing Wire

AUGUST 14, 2024

This gave sellers the upper hand, but the market has turned in recent months. The loss of population has softened housing demand, as has the rapid rise in mortgage rates that began in the spring of 2022. This has taken power away from sellers, who now face a shortage of potential buyers. year over year.

Buyers 410

Buyers Housing Market Marketing Sellers 410

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 374

Realtors Real Estate Sellers Agents 374

Housing Wire

NOVEMBER 5, 2024

That’s evident in the annual profile of home buyers and sellers from the National Association of Realtors (NAR), which provides data on dozens of real estate trends. But in 2022, the share of homes bought in rural areas (19%) and small towns (29%) jumped considerably. Urban areas also took a hit, falling from 13% to 10%.

Realtors 429

Realtors Housing Market Construction Real Estate 429

Housing Wire

JANUARY 13, 2024

So let’s hope for more home sellers in 2024. 6-13): Inventory rose from 471,349 to 473,406 The inventory bottom for 2022 was 240,194 The inventory peak for 2023 is 569,898 For context, active listings for this week in 2015 were 931,002 I don’t want to jinx this because active inventory rose last year at this time. 2022 21.7%

Inventory 522

Inventory New Listings Retail Mortgage 522