Housing Wire

SEPTEMBER 5, 2024

That’s according to a new survey from Mphasis Digital Risk, which revealed that 42% of prospective buyers said a 5% rate would get them back in the market. We’re getting closer to homebuyers’ comfort zone of low-6%, high-5% rates, and September’s anticipated Fed cuts should help buyer sentiment. from this peak.

Buyers 470

Buyers Marketing Mortgage Real Estate Agent 470

Appraisal Buzz

NOVEMBER 22, 2024

The bi-annual report reveals a resilient luxury real estate market in the first six months of 2024 that is slightly outpacing performance from the equivalent period in 2023. Those trends include buyers’ pursuit of “forever dream homes” which, according to agents, offer adaptability to grow and change alongside homeowners’ evolving lifestyles.

Buyers 417

Buyers Luxury Properties Marketing Inventory 417

Housing Wire

AUGUST 26, 2024

This was in stark contrast to three other market segments that posted declines in the number of pending sales compared to July 2023. fewer pending sales compared to July 2023. We are seeing a lot of younger buyers looking at smaller starter homes. According to Redfin, pending sales of starter homes grew 10.2%

Buyers 430

Buyers Inventory Marketing Contracts 430

Housing Wire

JULY 30, 2024

As the mortgage and real estate markets continue to face challenges, nearly 800,000 low down payment home purchases in 2023 leveraged private mortgage insurance (PMI), with first-time homebuyers accounting for 64% of the total. This is according to a new report published by U.S. Mortgage Insurers (USMI).

Insurance 408

Insurance Mortgage Finance Buyers 408

Housing Wire

AUGUST 2, 2024

home seller pays a 2.55% commission to the real estate agent hired by their buyer, down from an average of 2.62% in January, according to a Redfin analysis of MLS data. 28 and July 14 of this year to compare average commission rates paid to a buyer’s agent. The typical U.S.

Agents 439

Agents Buyers Real Estate Agent Sellers 439

Housing Wire

SEPTEMBER 5, 2024

mortgage market in 2023, up from 14.3% 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 426

Buyers Real Estate Agent Inspection Real Estate 426

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. from the previous year, the highest yearly gain since the beginning of 2023. Home sales dipped 1.7%

Sellers 435

Sellers Buyers New Listings Mortgage 435

Housing Wire

JANUARY 9, 2025

But survey data released Thursday by Bright MLS found that some standards were top priorities for some buyers. According to the survey, more than half of prospective buyers ranked the condition of the home as the most important factor in their home search. ” Even with compromises, buyers still struggle to gather a down payment.

Buyers 371

Buyers Renovations Housing Market Home Improvement 371

Appraisal Buzz

OCTOBER 29, 2024

The platform began in October 2023 with local level data in only three states, but it has since grown to include data in around 40 states, with goals to reach all 50 by the end of 2024. The post Freddie Mac Enhances Product Selection With an Emphasis on First-Time Buyers first appeared on The MortgagePoint.

Buyers 395

Buyers Appraisal Loan Officers Sellers 395

Housing Wire

OCTOBER 25, 2024

31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. With NAR’s settlement requiring agents to have a signed buyer agency agreement with every buyer that spells out how much the agent will be paid in a transaction, many believed that buyers using a loan from the U.S.

Buyers 388

Buyers Real Estate Realtors Agents 388

Appraisal Buzz

NOVEMBER 13, 2024

“Technology has enabled homeowners to live more sustainably and more affordably, which is a growing priority for prospective buyers,” said Amanda Pendleton, a Home Trends Expert at Zillow. While “vintage” mentions are up 9%, nostalgia is a developing trend, showing up in 14% more listings than in 2023.

Buyers 418

Buyers Design Real Estate Agent Real Estate 418

Housing Wire

JULY 22, 2024

will be significant enough move in rates to move the needle for buyers. This is the same gap as we’ve been at for a while — just around 40% inventory growth over 2023. To me, that lack of new supply suggests it’ll keep a cap on inventory growth even if buyer demand stays dormant for the rest of the year.

Buyers 442

Buyers Inventory New Listings Sellers 442

Sacramento Appraisal Blog

JANUARY 14, 2025

It’s great news that 2024 performed better than the 2023 housing market. Seeing more buyers and sellers able to participate is absolutely what we want to see. Let’ get into it. Skim quickly by topic or digest slowly.

Housing Market 292

Housing Market Marketing Sellers Appraisal 292

Housing Wire

APRIL 3, 2024

Millennials replaced baby boomers as the largest group of homebuyers in 2023. The generational tug-of-war between millennials and baby boomers continued this year, with millennials rebounding to capture the largest share of home buyers,” Jessica Lautz, NAR deputy chief economist and vice president of research, said in a statement.

Marketing 511

Marketing Sellers Buyers Realtors 511

Appraisal Buzz

SEPTEMBER 5, 2024

With the total number of homes on the market at its greatest point since May 2020 and interest rates about to start declining, buyers will have more options this autumn. In April we noted that rising for-sale inventory was likely to lead to more balance between buyers and sellers. year-over-year increase. from July’s levels.

Sellers 397

Sellers Housing Market Buyers Marketing 397

Appraisal Buzz

DECEMBER 9, 2024

In a newly released report, according to a recent survey from Redfin , the Homebuyer Demand Index is close to its highest level seen since September 2023. Buyers realized mortgage rates may not drop below 5%, and probably not below 6%, in the near future.

Buyers 370

Buyers Marketing New Listings Agents 370

Appraisal Buzz

DECEMBER 19, 2024

million in November 2023). More buyers have entered the market as the economy continues to add jobs, housing inventory grows compared to a year ago, and consumers get used to a new normal of mortgage rates between 6% and 7%. month supply in November 2023 but lower than the 4.2-month from October to 4.15 million in November.

Inventory 396

Inventory Realtors Buyers Contracts 396

Housing Wire

DECEMBER 30, 2024

There are a few markets in the South where home prices have inched down recently and every bit helps buyers but those prices have not adjusted much, and theres no sign of any major correction in the works. Its hard to measure precisely with the holidays, but 32,000 is 33% more than hit the market in the 52nd week of the year in 2023.

Housing Market 543

Housing Market Marketing New Listings Inventory 543

Appraisal Buzz

DECEMBER 30, 2024

in Novemberthe fourth consecutive month of such increases and the highest level since February 2023. Buyers are no longer waiting for or expecting mortgage rates to fall substantially. Furthermore, buyers are in a better position to negotiate as the market shifts away from a sellers market. from November 2023.

Contracts 435

Contracts Inventory Buyers Sellers 435

Housing Wire

MAY 8, 2024

Out of 221 metro markets analyzed, 205 (93%) posted yearly home price gains in Q1 2024, while 30% experienced double-digit price gains during the same period — up from 15% in the fourth quarter of 2023 — according to the National Association of Realtors ’ (NAR) newest quarterly report. year over year in Q4 2023. By contrast, the U.S.

Marketing 497

Marketing Buyers Realtors Home Value 497

Housing Wire

AUGUST 26, 2024

The program, dubbed “Welcome Home RateBreak,” is available to buyers purchasing a single-family home and earning 80% or less of their area median income (AMI). This buyer would save more than $5,800 from the two-year buydown, according to Rocket. billion in Q2 2023. Rocket originated $24.6

Buyers 497

Buyers Insurance Mortgage Business 497

Housing Wire

AUGUST 19, 2024

Morgan purchased four properties at foreclosure auction via the Auction.com marketplace in 2023. According to public record tax assessor data, all four are now also owner-occupied “I’m trying to establish our community again,” Morgan said, noting the extensive renovations he does before reselling the homes to retail buyers.

Renovations 473

Renovations Development Buyers Investors 473

Housing Wire

MAY 14, 2024

The respondents included 420 people who bought a home in 2023 or 2024, and another 500 who plan to do so in 2024 or 2025. “We We found that buyers stepping into the 2024 housing market have much to learn from previous shoppers,” the report stated. More than 80% of recent buyers asked for at least one seller concession.

Real Estate Agent 484

Real Estate Agent Agents Real Estate Buyers 484

Appraisal Buzz

OCTOBER 30, 2024

Jones explained that pending home sales, also known as contract signings, measure the first official stage of a home sale transaction—when a buyer and seller have reached an agreement on terms and price. from September 2023 to 65.6, from September 2023 to 64.0, compared to September 2023. from the previous month.

Contracts 418

Contracts Buyers Inventory Mortgage 418

Housing Wire

JUNE 27, 2024

With rates moderating in June, purchase mortgage applications indicate that rate-sensitive buyers are hesitantly responding.” Kushi added that more buyers may be enticed back into the market if mortgage rates continue to fall and inventory levels continue to rise. With this in mind, NAR is forecasting a total of 4.26

Inventory 493

Inventory Contracts Realtors Buyers 493

Housing Wire

JUNE 14, 2024

The second occurred in October 2023 when mortgage rates peaked at their highest point since 2000. 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. in May 2023 and close to the record high of 21.7% in May 2022.

Sellers 485

Sellers Buyers Contracts Brokerage 485

Housing Wire

JANUARY 16, 2025

The listings portal combined weekly data on for-sale listings in 2023 and 2024 for comparison. The share of listings with HOA fees rose from 2023, when 39.2% Also, the median monthly fee rose over the past year, increasing from $110 in 2023 to $125 in 2024. The report only considered listings if they had an HOA fee.

HOA 302

HOA Property Taxes Construction Buyers 302

Housing Wire

MARCH 11, 2024

That’s 15% growth over the pace of 2023. Last year there was still a lot more buyer momentum than sellers. This buyer momentum at the time led to 5% home price appreciation in 2023. So 2023 finished the year with 5% home price gains. There were 59,000 new listings unsold this week. Last week, 30.5%

Inventory 513

Inventory Sellers New Listings Real Estate 513

Housing Wire

APRIL 9, 2024

Homebuilders are observing a rise in demand for homes that can accommodate natural aging from Gen X buyers. Gen X buyers are also more likely to have more financial means and control over their potential options, and are keeping access to necessary later-life services in mind when choosing where to live as they get older, the story explained.

Buyers 506

Buyers Construction Realtors Housing Market 506

Housing Wire

OCTOBER 23, 2024

months in September 2023. While the uptick in inventory is certainly a positive for buyers, NAR’s report found they are continuing to contend with rising home prices. Moderating home price increases are welcome news for home buyers,” Yun said. from September 2023. For-sale inventory at the end of September was 1.39

Inventory 367

Inventory Realtors Buyers Real Estate 367

Housing Wire

APRIL 27, 2024

Active weekly housing inventory growth slowed slightly last week, but it’s still running at a healthier clip than in 2023. Weekly housing inventory data We’ve now had back-to-back weeks of healthy housing inventory growth and spring 2024 is much healthier than spring 2023. Last year, we never hit that target. 2022: 19.2%

Inventory 510

Inventory Housing Market Marketing New Listings 510

Appraisal Buzz

NOVEMBER 25, 2024

More inventory should shake loose in 2025, giving buyers a bit more room to breathe. But since then, they have climbed back to nearly 7%, changing the affordability picture for home buyers. million in 2023 and a projected 4 million in 2024. Zillow currently forecasts home prices will increase 2.6%

Housing Market 365

Housing Market Marketing Buyers Construction 365

Housing Wire

DECEMBER 28, 2024

Although those 2019 levels represent a five-decade low before COVID-19, the market was still functioning better than it did from 2020 to 2023. During the first few years of COVID-19 recovery, there was an unhealthy imbalance, with too many buyers competing for too few homes.

Inventory 506

Inventory Housing Market Marketing New Listings 506

Appraisal Buzz

NOVEMBER 26, 2024

Zillow anticipates a more active housing market with more buyers obtaining the upper hand in 2025. More inventory should shake loose in 2025, giving buyers a bit more room to breathe.” million existing home sales in 2024, a little increase over 2023’s 4.1 This means that buyers have the upper hand in negotiations.

Housing Market 396

Housing Market Tenants Marketing Mortgage 396

Housing Wire

MARCH 8, 2024

The HPSI increased for the third straight month, continuing its slow but steady rise from the low-level plateau observed through much of 2023; and consumer sentiment toward housing now rests firmly above where it was this time last year,” Doug Duncan, Fannie Mae senior vice president and chief economist, said in a statement. “A

Housing Market 486

Housing Market Mortgage Development Buyers 486

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 we took the worst levels of the spreads from 2023 and incorporated those today, mortgage rates would be 0.52% higher.

Mortgage 471

Mortgage Inventory Marketing New Listings 471

Housing Wire

AUGUST 1, 2024

With less than 100 days until the 2024 election, a majority of buyers are taking note. That’s according to survey results released Thursday by Veterans United Home Loans, which show that 60% of prospective buyers are taking the election into account. But affordability and mortgage rates are the primary reasons why they’re holding off.

Housing Market 463

Housing Market Finance Buyers Marketing 463