Housing Wire

NOVEMBER 29, 2024

But StorageCafe found that in 2023, most states overlooked one key solution to the affordability crisis: more inventory of “middle housing.” Census Bureau data to analyze housing inventory changes across 489 cities between 2005 and 2023. from 2005 to 2023 — the lowest inventory increase among all property types.

Inventory 394

Inventory Construction Law Development 394

Housing Wire

DECEMBER 8, 2024

But CoreLogic noted that negative equity actually declined by 3% from Q3 2023. billion higher than in Q3 2023. Conversely, positive homeowner equity increased by $425 billion since Q3 2023. CoreLogic attributes the Aloha State’s equity decline to a catastrophic wildfire in 2023. That’s up $4.3 On average, U.S.

Insurance 365

Insurance Mortgage Buyers 365

Housing Wire

SEPTEMBER 7, 2024

Mortgage rates have made almost a 2% move lower from the highs of 2023. Mortgage spreads were a negative storyline in 2023, as the collapse of Silicon Valley Bank and the resulting banking crisis pushed them to new cycle highs. Also, the spreads were elevated in 2023, so they have had room to go lower, which they have.

Mortgage 533

Mortgage Inventory New Listings Marketing 533

Housing Wire

OCTOBER 11, 2024

The risk of fraud on purchase transactions of these types was up 5% compared to second-quarter 2023. in 2024 and by 12% in 2023. Fraud cases have jumped by double-digit percentages since mid-2023 in California (+14.6), Connecticut (+10.8%) and Florida (10.2%). in 2024 and 1.9% That shift did not occur this year.

Mortgage 516

Mortgage Lending Insurance Real Estate 516

Housing Wire

AUGUST 17, 2024

However, 2024 looks much healthier than 2023 data, as we desperately needed to get off those historically low levels of active listings. However, 2024 is still an improvement over 2023, which was the lowest new listing data ever recorded. Still, I would consider the last month of inventory growth healthy.

Inventory 518

Inventory Mortgage New Listings Contracts 518

Housing Wire

AUGUST 4, 2024

Mortgage spreads Mortgage spreads were a negative storyline in 2023 as the Silicon Valley Bank collapse and the resulting banking crisis pushed the spreads to new cycle highs. If we took the worst levels of the spreads from 2023 and incorporated those today, mortgage rates would be 0.49% higher right now.

Mortgage 518

Mortgage Inventory New Listings Housing Market 518

Housing Wire

NOVEMBER 13, 2024

That’s up 4% from September’s total of 29,668 but down 11% from the October 2023 figure of 34,472. Only filings listed in the Attom data warehouse in Q3 2023 were considered, although the company noted that some filings may come from Q2 2023. Foreclosure Market Report on Tuesday.

Housing Market 448

Housing Market Real Estate Government Mortgage 448

Housing Wire

OCTOBER 5, 2024

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. Mortgage spreads The mortgage spread story has been positive in 2024, whereas it was negative in 2023. The Federal Reserve cut rates by 0.50% on Sept.

Mortgage 511

Mortgage Inventory New Listings Retail 511

Housing Wire

SEPTEMBER 22, 2024

Mortgage spreads The mortgage spread story has been positive in 2024, whereas it was negative in 2023. If we took the worst spreads from 2023 and incorporated those today, mortgage rates would be 0.68% higher. The price cut percentage data is below 2022 levels and risks an earlier seasonal curve lower than 2022 and 2023.

Mortgage 524

Mortgage Inventory New Listings Contracts 524

Appraisal Buzz

DECEMBER 5, 2024

During the pandemic, when rents and home prices surged, foreign-born householders contributed to 25% of household growth from 2019 to 2023, indicating that native-born households were the primary drivers of increased housing demand during this period. million in 2023. million in 2023. million in 2022 and 3.3

Construction 418

Construction Housing Market Marketing Buyers 418

Appraisal Buzz

DECEMBER 19, 2024

million in November 2023). month supply in November 2023 but lower than the 4.2-month existing home sales should be above 2023 levelsthough still only slightly. In November, 30% of sales were made by first-time customers, which is an increase from 27% in October but a decrease from 31% in November 2023. from October to 4.15

Inventory 312

Inventory Realtors Buyers Contracts 312

Housing Wire

JULY 27, 2024

My only concern is that the new listings data does not show consistent growth levels over 2023 so this is something I will keep track of for the rest of the year. Purchase application data tends to look out 30-90 days and the only time we saw any real growth in purchase apps was at the end of 2022 and 2023 when rates fell more than 1%.

New Listings 518

New Listings Inventory Mortgage Sellers 518

Housing Wire

OCTOBER 17, 2024

The Federal Home Loan Banks (FHLBanks) saw significant growth in support of affordable housing and community development in 2023, according to a report released Thursday by the Federal Housing Finance Agency (FHFA). Their actual AHP awards in 2023 were approximately $91.7 million — or about 26% — above that amount.

Development 459

Development Finance Investing Mortgage 459

Housing Wire

OCTOBER 21, 2024

Nationally, 290,000 new properties were built in high-risk flood areas from 2019 through 2023, almost one in five of the 1.6 A report in August from Redfin showed that 2023 migration patterns weren’t interrupted by climate change. million built in total in that period, the First Street analysis found.”

Insurance 497

Insurance Real Estate Agent Construction Development 497

Housing Wire

JULY 20, 2024

The labor market has allowed mortgage rates to stay higher for longer and with the inventory growth this year, I feel much better about rates falling than I did in 2022 or 2023. 2024: 382,435 2023: 378,227 2022: 418,983 Purchase application data With all weekly housing data, we always see a holiday impact in the data in purchase apps.

Inventory 526

Inventory New Listings Contracts Mortgage 526

Housing Wire

SEPTEMBER 23, 2024

For example, Smith claims her supervisor demanded in May 2023 that she remove a $1.5 On another occasion, in July 2023, she claims her supervisor instructed her to “hide” alimony/child support information on a loan application. Ultimately, in August 2023, she was laid off for “lack of volume,” according to her allegations.

Mortgage 472

Mortgage Legal Loan Officers Retail 472

Housing Wire

DECEMBER 9, 2024

The company closed deals with struggling power buyer firm Ribbon in May 2023, home maintenance company Onder in September 2023, home equity investment firm Balance Homes in December 2023 and home equity investment firm HomePace in May 2024. But the company came under the scrutiny of state regulators in December 2023.

Modernization 367

Modernization Investors Law Investing 367

Housing Wire

OCTOBER 26, 2024

We’ve seen some growth in new listings this year compared to 2023 levels, which is good for housing. Mortgage spreads The mortgage spread story has been positive in 2024, whereas it was negative in 2023. We are now showing growth versus 2023 and 2022 data in this data line, but context is critical.

Inventory 523

Inventory Sellers New Listings Mortgage 523

Housing Wire

OCTOBER 23, 2024

months in September 2023. from September 2023. NAR also reported the results of its monthly Realtors Confidence Index , which found that homes typically remained on the market for 28 days in September, up from 26 days in August and 21 days in September 2023. For-sale inventory at the end of September was 1.39 million, up 1.5%

Inventory 453

Inventory Realtors Buyers Real Estate 453

Housing Wire

NOVEMBER 13, 2024

“The two best-performing demographics for African Americans — Black female-headed households and millennials — both declined in home sales in 2023,” the organization explained in an announcement of the report’s findings. By 2023, applications submitted by Black women decreased by 24% from 2022.”

Real Estate 416

Real Estate Mortgage Finance Housing Market 416

Housing Wire

OCTOBER 19, 2024

Now the dose of reality: last year at this time mortgage rates were heading toward 8% , and even though 2023 showed record low sales levels, it got worse with 8% rates. We are now showing growth versus 2023 and 2022 data in this data line, but context is key. So, context is critical with housing data, especially in October.

Inventory 522

Inventory New Listings Mortgage Contracts 522

Appraisal Buzz

OCTOBER 24, 2024

An examination of CoreLogic data indicates that, in comparison to prior years, jumbo mortgage originations saw a discernible drop in both dollar quantities and market share in 2023 and 2024. Jumbo loan volumes plummeted 61% and conforming loan volumes fell 67% from their peak in 2021 to 2023. Since 2014, this is the lowest level.

Mortgage 370

Mortgage Marketing Appraisal 370

Housing Wire

AUGUST 24, 2024

Here are the number of new listings for last week over the previous several years: 2024: 64,595 2023: 54,584 2022: 64,670 Price-cut percentage In an average year, one-third of all homes take a price cut — this is standard housing activity. Weekly inventory change (Aug. 23): Inventory grew from 698,473 to 704,744 The same week last year (Aug.

Inventory 495

Inventory New Listings Sellers Mortgage 495

Housing Wire

NOVEMBER 26, 2024

increase from Q3 2023 to Q3 2024. annualized gain in August and represented the slowest year-over-year growth since August 2023. The East North Central division (Wisconsin, Michigan, Illinois, Indiana and Ohio) led the way with a 6.8% In a similar report released Tuesday, the S&P CoreLogic Case-Shiller Index notched 3.9%

Housing Market 391

Housing Market Finance Marketing Mortgage 391

Housing Wire

OCTOBER 13, 2024

Remember that 2023 had the lowest new listings data ever and 2024 will have the second lowest. One of the reasons total inventory data hasn’t gotten back to 2019 levels is the lack of sellers in 2023 and 2024. The price-cut percentage data is below 2022 levels and risks an earlier seasonal curve lower than 2022 and 2023.

Inventory 510

Inventory New Listings Retail Mortgage 510

Housing Wire

SEPTEMBER 15, 2024

If we took the worst levels of the spreads from 2023 and incorporated those today, mortgage rates would be 0.58% higher right now. 2024: 65,162 2023: 61,162 2022: 63,034 Price-cut percentage In an average year, one-third of all homes take a price cut — this is standard housing activity. Weekly inventory change (Sept.

Mortgage 521

Mortgage Inventory New Listings Retail 521

Housing Wire

OCTOBER 17, 2024

In 2023, the firm recorded 8,629 transaction sides for $2.8 Originally filed in November 2023, nearly a month after the jury verdict in the Sitzer/Burnett suit, the Phillips case accuses real estate industry players of colluding to artificially inflate real estate agent commissions.

Real Estate 447

Real Estate Realty Real Estate Agent Brokerage 447

Housing Wire

DECEMBER 2, 2024

Nationally, home-insurance premiums rose by an average of 21% from May 2022 to May 2023, Policygenius , an insurance marketplace, found. Older homeowners are also struggling with rising insurance premiums , particularly if they’re still paying off forward mortgages.

Insurance 418

Insurance Inventory Law Business 418

Housing Wire

DECEMBER 2, 2024

In August 2023 , the bank announced the launch of the program in eight major U.S. In January 2023, Wells Fargo also announced its exit from the correspondent lending space and a revised focus on bank customers and minority homebuyers through its mortgage retail team. They include Anaheim, Los Angeles, Oxnard, San Diego and Salinas.

Lending 396

Lending Retail Mortgage Investing 396

Appraisal Buzz

OCTOBER 30, 2024

from September 2023 to 65.6, from September 2023 to 64.0, compared to September 2023. After two years of sluggish home sales in 2023 and 2024, existing-home sales are forecasted to rise to 4.47 Pending Home Sales Regional Breakdown The Northeast PHSI increased 3.3% from the previous month. the same as the year before.

Contracts 418

Contracts Buyers Inventory Mortgage 418

Housing Wire

NOVEMBER 27, 2024

The Federal Housing Finance Agency (FHFA)’s updated pricing framework in 2023 sparked significant debate over LLPAs. billion in Q3 2023. Typically, these fees reduce costs for low-risk borrowers while increasing costs for those deemed higher risk. The company originated $39.5 billion in the second quarter and $29.7

Government 418

Government Finance Insurance Mortgage 418

Appraisal Buzz

OCTOBER 21, 2024

Texas experienced the most damage during the broader 2023-2024 winter season, accounting for 36% of total damage, or $87.2 Texas: The Most Impacted Over the 2023-24 Winter Season Looking more broadly at the 2023-2024 winter season, Texas experienced $87.2 Key Findings Winter weather has already caused an estimated $61.8

Insurance 393

Insurance Appraisal 393

Housing Wire

NOVEMBER 22, 2024

But the share of flipped homes sold for less than $300,000 increased from Q3 2023. Investors in Texas (49%) and Florida (38%) reported lower sales prices compared to 2023. More than 90% of flippers reported overestimating their final sales price, while 73% of flipped homes in the past 12 months sold for less than $500,000.

Investors 423

Investors Mortgage Property Taxes Inventory 423

Housing Wire

SEPTEMBER 5, 2024

Many prospective buyers started questioning the American dream of home ownership as inflation brought mortgage rates to a cyclical peak of 8% in October 2023,” Mphasis co-founder and managing director Jeff Taylor said in a statement. An additional 27% said they’re targeting a 4% rate, while 20% say it’s 6%. But now rates are down more than 1.5%

Buyers 493

Buyers Marketing Mortgage Real Estate Agent 493

Housing Wire

NOVEMBER 26, 2024

annual gain in August and a 5% jump in July , and it marks the lowest year-over-year increase since August 2023. compared to Q3 2023, the FHFA reported. The S&P CoreLogic Case-Shiller national home-price index (HPI) rose 3.9% annually to a reading of 324.80 in September, according to data released Tuesday. home prices rose 0.7%

Inventory 370

Inventory Realtors Finance Marketing 370

Housing Wire

OCTOBER 18, 2024

The Council of Federal Home Loan Banks (FHLBanks) lauded this week’s release of a report from the Federal Housing Finance Agency (FHFA), which highlighted the banks’ growth in support of affordable housing and community development efforts in 2023. million for AHP in 2023, as noted in FHFA’s report.

Investing 408

Investing Development Finance Mortgage 408

Housing Wire

SEPTEMBER 30, 2024

from August 2023, when the median price was $240,000. In August 2023, that figure was only 3%. since August 2023 — although the income needed to enter the market stands at an eye-popping $217,300. The income needed to buy the typical starter home is down 0.4% in August, according to Redfin. more than they need.

Buyers 476

Buyers Real Estate Mortgage Brokerage 476