Housing Wire

FEBRUARY 24, 2023

New home sales started off 2023 on a positive note, rising 7.2% January marked a surge of people signing contracts to buy new homes. Many home builders are offering incentives to buyers, sweetening the deal just enough to bump sales from the month prior.” On a year-over-year basis, however, new home sales are still down 19.4%.

Construction 459

Construction Contracts Buyers Development 459

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. Even as pending sales of starter homes across the nation’s 50 largest metro areas grew on a yearly basis in July, the number of homes going under contract in other price tiers backtracked.

Buyers 448

Buyers Inventory Marketing Contracts 448

Housing Wire

MAY 4, 2023

On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. Sales and new pending contracts are below pre-pandemic levels. Buyer interest has increased over the past few months, but showing activity is still much lower than it would be in a typical spring market.

Housing Market 448

Housing Market Marketing Inventory Buyers 448

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. There were another 15,000 new listings that are already in contract, which is very low for immediate sales recently. In my opinion, under 6.75% on the way to 6.5%

Buyers 488

Buyers Inventory New Listings Sellers 488

Housing Wire

NOVEMBER 23, 2022

The seller, who struggled to find a buyer in a cooled down housing market, agreed to deposit a lump sum payment into an escrow account at closing – ultimately saving Davis $6,900 in monthly payments in the first two years. It gives the buyer and seller the feeling of beating the mutual enemy, ‘the market,’ and gaming the system.”.

Buyers 493

Buyers Marketing Sellers Loan Officers 493

Housing Wire

NOVEMBER 2, 2023

Real estate agents are always looking for vetted, high-quality leads — and especially so during 2023 market conditions. Below, we evaluated several platforms to find the top eight lead generation providers agents can buy real estate leads from in 2023.

Real Estate 459

Real Estate Real Estate Agent Tools Agents 459

Housing Wire

JANUARY 23, 2024

For what felt like a moment in time, buyers enjoyed the luxury of being incredibly picky, carefully selecting what felt like their dream homes in a market that had shifted towards more favorable conditions. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

Real Estate Agent 476

Real Estate Agent Real Estate Buyers Agents 476

Housing Wire

JANUARY 25, 2023

As mortgage rates continue to decline, Chad Earnest’s mantra with his referral partners in 2023 is “no buyer left behind.” Homebuying activity remains tepid, but if rates continue to fall and home prices cool further, we expect to see potential buyers come back into the market.

Buyers 497

Buyers Mortgage Real Estate Agent Contracts 497

Housing Wire

OCTOBER 18, 2022

The NAHB/ HMI report is based on a monthly survey of NAHB members, in which respondents are asked to rate both current market conditions for the sale of new homes and expected conditions for the next six months, as well as traffic of prospective buyers of new homes. Both of these metrics are survey-record lows.

Housing Market 435

Housing Market Buyers Contracts Construction 435

Appraisal Buzz

JUNE 20, 2024

Buyers are also avoiding earlier stages of the house-hunting process. Buyers are retreating primarily due to high home costs. Another explanation for the drop in pending sales is a scarcity of new, desirable listings for buyers to select from. During the four weeks ended June 16, pending home sales declined 3.8%

Buyers 397

Buyers New Listings Sellers Mortgage 397

Appraisal Buzz

OCTOBER 30, 2024

increase in the Pending Home Sales Index (PHSI), a measure of future home sales based on contract signings, to 75.8, The amount of contract activity in 2001 is represented by an index of 100. Year-over-year, contract signings grew in the Northeast and West and were unchanged in the Midwest and South. compared to September 2023.

Contracts 418

Contracts Buyers Inventory Mortgage 418

Housing Wire

MARCH 28, 2023

2023 began as 2022 had ended, with U.S. Buyers in the market still find themselves competing over relatively few homes for sale, a fact which continues to prop up home prices,” Lisa Sturtevant, the chief economist at BrightMLS , said in a statement. The annual growth rate in December was 4.4%. The index came in at a reading of 292.71

Buyers 418

Buyers Inventory Contracts Finance 418

Appraisal Buzz

JULY 23, 2024

of all homes under contract, being canceled in that month alone. Buyers are getting more and more selective,” said Julie Zubiate, a Redfin Premier real estate agent in the San Francisco Bay Area. of the residences that were under contract in that month. of homes that went under contract. of homes that went under contract.

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Buyers Contracts HOA Property Taxes 396

Housing Wire

DECEMBER 13, 2022

As brokers and LOs close out a challenging year and set their sights on 2023, it could be tempting to take a pessimistic view. However, there are actionable steps and strategies they can take to ensure 2023 is as profitable as possible. Most industry observers expect 2023 to be much more consistent.

Technology 418

Technology Clients Real Estate Agent Business 418

Housing Wire

DECEMBER 20, 2022

Economists believe that if the trend continues, the market will be able to improve in the second half of 2023. . “The latest data on the housing market show that homebuilders are pulling back the pace of new construction in response to low levels of traffic, and we expect this weakness in demand will persist in 2023, as the U.S.

Mortgage 435

Mortgage Housing Market Retail Contracts 435

Housing Wire

NOVEMBER 29, 2023

In the ever-competitive real estate market, creating a consistent flow of real estate buyer leads is strategy for success. But beyond first-timers, we’ll show you how to attract real estate buyers of all kinds through a multi-tiered marketing approach that boosts both your visibility and credibility with potential buyers.

Real Estate 435

Real Estate Buyers Tools Real Estate Agent 435

Housing Wire

MARCH 13, 2024

The DOJ’s statement was in relation to the settlement agreement reached between the Nosalek plaintiffs and MLS PIN in July 2023. Since the initial filing, the plaintiffs and MLS PIN have filed two amended agreements in order to appease the DOJ, which first became involved in the suit in early October 2023.

Contracts 468

Contracts Legal Sellers Buyers 468

Housing Wire

JANUARY 22, 2024

Those metrics, specifically the pace of new listings and new sales contracts, slowed this week. New listings and new contracts both still show a bit of improvement over 2023, but the growth rates have slid back down. The state of California had 20% more contracts started last week than the same week a year ago.

Real Estate 488

Real Estate New Listings Contracts Inventory 488

Housing Wire

JUNE 27, 2024

An index of 100 is equal to the level of contract activity in 2001. Pending sales are a forward-looking indicator of home sales based on contract signings, so two consecutive months of declining pending home sales suggest a negative outlook for sales activity,” Odeta Kushi , First American’ s deputy chief economist, said in a statement.

Inventory 501

Inventory Contracts Realtors Buyers 501

Housing Wire

FEBRUARY 21, 2023

Existing home sales started 2023 right where they left off at the end of 2022, dropping for the 12 th consecutive month. January sales reflect purchase contracts made in November or December, and there is evidence that in many markets, the housing market has bottomed out and buyers are beginning to return to the market.”

Inventory 370

Inventory Buyers Housing Market Contracts 370

Housing Wire

DECEMBER 19, 2023

The defining characteristic of the 2023 housing market has been dramatically fewer home sellers than any recent year. Rates are falling now and if that continues, buyers will jump and inventory will fall well into the first quarter of 2024. Contracts growing We continue to see the new contracts grow each week: There were 7.7%

Sellers 482

Sellers Marketing Inventory Contracts 482

Appraisal Buzz

JULY 31, 2024

The rise in housing inventory is beginning to lead to more contract signings,” said Lawrence Yun, NAR Chief Economist. Multiple offers are less intense, and buyers are in a more favorable position.” A measure of prospective home sales based on contract signings, the Pending Home Sales Index (PHSI) increased to 74.3 June saw a 3.4%

Contracts 397

Contracts Inventory Buyers Housing Market 397

Appraisal Buzz

NOVEMBER 27, 2024

NAR’s Pending Home Sales Index (PHSI)–a forward-looking indicator of home sales based on contract signings–rose 2% to 77.4 An index of 100 is equal to the level of contract activity in 2001. While increased inventory provides buyers with more options, the reality remains–you can’t buy what you can’t afford.” from October 2023.

Contracts 418

Contracts Inventory Mortgage Buyers 418

Appraisal Buzz

JUNE 27, 2024

Indicator of prospective home sales based on contract signings, the Pending Home Sales Index (PHSI) dropped to 70.8 The level of contract activity in 2001 is represented by an index of 100. A continued dearth of inventory, high home prices and stable mortgage interest rates have kept would-be home buyers at bay this spring.”

Contracts 418

Contracts Inventory Buyers Mortgage 418

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. percentage points in early December, when historically that spread has ranged between 1 to 2 percentage points.

Mortgage 434

Mortgage Marketing Investors Lending 434

Housing Wire

JULY 29, 2024

New home sales contracts are coming in pretty consistently fewer than last year — 4.9% Our Immediate sales measure of homes that get listed, take offers and go into contract in a few days is also notably lower than last year. That’ll be a 20% increase over the end of 2023. Some buyers are waiting until after the election.

Housing Market 456

Housing Market Marketing Inventory New Listings 456

Housing Wire

OCTOBER 17, 2023

Whether you’re a seasoned real estate agent looking to expand your reach or a newcomer eager to establish your digital footprint, ahead we delve into the best real estate lead generation websites for 2023. Buyer and seller-specific landing pages: You’ll want a site that offers visitor-specific content pages. per month plus $249.95

Real Estate 476

Real Estate Real Estate Agent Agents Tools 476

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

JANUARY 26, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. The trade organization projects a 13% increase in existing home sales between 2023 and 2024 for an annualized pace of 4.62

Contracts 482

Contracts Housing Market Construction Inventory 482

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 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. Weekly pending sales Below is the Altos Research weekly pending contract data to show real-time demand. This can help get mortgage rates down toward 5.75%.

Mortgage 525

Mortgage Inventory New Listings Contracts 525

Housing Wire

MAY 13, 2024

If you need to communicate about the real estate market with buyers and sellers, you should join us. It’s the peak season for buyers and sellers. Inventory in 2023 didn’t really accelerate until mortgage rates approached 8% in the fall. Pending sales The total count of homes under contract is just barely above that of May 2023.

New Listings 501

New Listings Contracts Inventory Sellers 501

Housing Wire

SEPTEMBER 7, 2023

Rising mortgage rates mean rising inventory as home buyer demand slows quickly. Supply of homes on the market does not appear to have reached the peak for 2023. Mortgage rates have been rising, making homes more expensive to buyers and obviously slowing demand. There are only 358,000 single family homes in contract pending now.

Contracts 468

Contracts Inventory Buyers New Listings 468

Housing Wire

AUGUST 6, 2024

Last year at this time, mortgage rates were rising, eventually peaking at 8% in October 2023. Still, this affordability boost is good for any buyers in the market now. You can see the late 2023 inventory build in this chart in the bright red line. This is the count of all the contracts started for home sales in a given week.

Mortgage 482

Mortgage Inventory New Listings Contracts 482

Housing Wire

JUNE 22, 2024

Purchase application data When mortgage rates fell more than 1% lower in late 2022 and 2023, we saw a sustained bounce higher in purchase application data, which eventually lead to a higher monthly sales print. If we took the worst levels of the spreads from 2023 and incorporated those today, mortgage rates would be 0.47% higher.

Mortgage 481

Mortgage Inventory New Listings Contracts 481

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. If we took the worst levels of the spreads from 2023 and incorporated those today, mortgage rates would be 0.48% higher right now.

Mortgage 514

Mortgage New Listings Inventory Contracts 514

Housing Wire

MARCH 28, 2024

The DOJ’s statement of interest, which was filed in mid-February, was in relation to the settlement agreement reached between the Nosalek plaintiffs and MLS Property Information Network (MLS PIN) in July 2023. NWMLS counters that these rule changes increased transparency and removed the potential for steering.

Sellers 457

Sellers Contracts Buyers Realtors 457