Housing Wire

AUGUST 22, 2024

“As part of their low-cost selling strategy, sellers using Homie would commonly make an offer of compensation to buyer-brokers that was somewhat below the buyer agent compensation (BAC) offered by sellers represented by traditional brokers, including the Corporate Defendants.

Realtors 482

Realtors Buyers Brokerage Real Estate 482

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 476

Agents Buyers Real Estate Agent Sellers 476

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 448

Buyers Inventory Marketing Contracts 448

Appraisal Buzz

NOVEMBER 6, 2024

By the fall of 2023, mortgage rates had risen from historic lows of 2.65% in 2021 to a decade-high of 7.79%. Key Findings: Although average mortgage rates are much higher, 45% of buyers who have purchased a home in the past year report having a rate below 5%. The purchasing power of house shoppers was directly impacted by this.

Buyers 370

Buyers Marketing Sellers Loan Officers 370

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 475

Buyers Real Estate Agent Inspection Real Estate 475

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 448

Buyers Real Estate Realtors Agents 448

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

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 488

Buyers Inventory New Listings Sellers 488

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 364

Buyers Marketing New Listings Agents 364

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

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 526

Marketing Buyers Sellers Realtors 526

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

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 465

Inventory Realtors Buyers Real Estate 465

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 526

Marketing Buyers Realtors Home Value 526

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 312

Inventory Realtors Buyers Contracts 312

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 501

Buyers Insurance Mortgage Business 501

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 476

Renovations Development Buyers Investors 476

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

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 488

Real Estate Agent Agents Real Estate Buyers 488

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

SEPTEMBER 9, 2024

While not yet reaching the trillion-dollar mark, Miami ‘s total real estate value, including both residential and commercial properties, was estimated at approximately $650 billion as of 2023, according to the Miami Association of Realtors. Each closed over 50 transaction sides in 2023. As of Sept.

Real Estate 469

Real Estate Agents Marketing Real Estate Agent 469

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 501

Inventory Contracts Realtors Buyers 501

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. Home-price declines which are typically a good thing for buyers could hurt some current mortgage holders. That’s up $4.3

Insurance 386

Insurance Mortgage Buyers 386

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

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 508

Housing Market Finance Buyers Marketing 508

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 508

Mortgage Inventory Marketing New Listings 508

Housing Wire

SEPTEMBER 12, 2024

While it hasn’t reached the trillion-dollar mark in residential real estate value held by cities like New York and Chicago , Charlotte’s market has nonetheless experienced significant growth, with total property values pushing $200 billion as of 2023. As of Sept. In this type of environment, the cream rises to the top.

Real Estate 448

Real Estate Agents Real Estate Agent Sellers 448

Housing Wire

SEPTEMBER 19, 2024

year over year to $416,700, although that is the slowest gain since September 2023. Higher inventory levels and lower mortgage rates should provide better conditions for the market in the fall, helping both buyers and sellers who’ve been waiting on lower borrowing costs and the end of the election cycle. from the prior month and 1.4%

Inventory 459

Inventory Housing Market Inspection Sellers 459

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 488

Sellers Buyers Contracts Brokerage 488

Housing Wire

AUGUST 24, 2024

Since the buyer’s commission payout isn’t as transparent as before, I have been anticipating delays in the home-buying process as people adapted to the new rules. 2023: 36% 2022: 39% Weekly pending sales Below is the Altos Research weekly pending contract data year-over-year to show real-time demand. Weekly inventory change (Aug.

Inventory 503

Inventory New Listings Sellers Mortgage 503

Housing Wire

OCTOBER 29, 2024

31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. Stubbornly high interest rates, low levels of inventory and elevated home prices are putting a strain on the often-limited budgets of first-time buyers. It is no secret that many first-time homebuyers are struggling.

Marketing 448

Marketing Real Estate Sellers Buyers 448

Housing Wire

SEPTEMBER 17, 2024

Like the vast majority of the country, the city’s housing market has been stymied by high mortgage rates, low inventory and mismatched expectations between buyers and sellers. 25 statewide in 2023 transaction volume. Buyers think it’s a buyer’s market. Everybody feels like they need to fight a fight.

Housing Market 477

Housing Market Marketing Sellers Buyers 477

Housing Wire

AUGUST 8, 2024

rise in total value compared to June 2023 and 120% higher than in June 2014. Mortgage rates have started falling , but many potential sellers and buyers are waiting to make a move, meaning we are likely to continue seeing a pattern where prices slowly tick up,“ Zhao added. That’s a 6.6% all crossed the mark. billion) up 13.3%

Home Value 459

Home Value Housing Market Construction Buyers 459

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. “These increases were tied to upticks in rapid resales with rising prices, more high-activity buyers, and sales transactions with multiple high-risk flags,” the report explained.

Mortgage 516

Mortgage Lending Insurance Real Estate 516

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 516

Inventory New Listings Sellers Real Estate 516

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 511

Buyers Construction Realtors Housing Market 511

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 514

Inventory Housing Market Marketing New Listings 514