Housing Wire

MARCH 3, 2024

First-time homebuyers made up 55% of agency purchase mortgages in 2023, according to Intercontinental Exchange (ICE) eMBS data, the highest such share in the 10 years ICE has been tracking the metric. The first was Q1 2023, and Q4 the second. is more than 4 percentage points higher than for repeat buyers in recent months.

Lending 514

Lending Mortgage Buyers Government 514

Housing Wire

SEPTEMBER 30, 2024

Buyers in August 2024 needed to earn $77,000 per year to afford a median-priced starter home of $250,000. Starter homes are defined as those priced in the fifth to 35th percentiles of their respective markets, and homes are deemed affordable if the mortgage payment consumes no more than 30% of the household income. more than they need.

Buyers 476

Buyers Real Estate Mortgage Brokerage 476

Housing Wire

MAY 8, 2024

In the current market, rising prices are the direct result of insufficient housing supply not meeting the full demand.” year over year in Q4 2023. Six of the 10 markets with the highest price appreciation were in either Illinois or Wisconsin. Meanwhile, eight of the 10 most expensive markets in the U.S. one year ago.

Marketing 526

Marketing Buyers Realtors Home Value 526

Housing Wire

JULY 23, 2024

Record-high home prices and elevated mortgage rates are prompting buyers to back out of home purchase agreements at elevated levels. Redfin ’s newest housing market report shows that buyers backed out of 56,000 purchase agreements in June, which constitutes 14.9% This share also breached 16% in October 2022 and October 2023.

Buyers 459

Buyers HOA Property Taxes Inspection 459

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. Despite high property prices and mortgage rates, there are a few reasons why homebuyers are emerging from the sidelines and easing their way into the market.

Buyers 356

Buyers Marketing New Listings Agents 356

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. Additionally, price growth for starter homes — which are defined as properties valued among the bottom 35% of local markets — was slower than for other segments. growth for middle-priced homes.

Buyers 448

Buyers Inventory Marketing Contracts 448

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 459

Insurance Mortgage Finance Buyers 459

Housing Wire

JUNE 18, 2024

Last month’s reading marked the smallest monthly increase on a seasonally adjusted basis since January 2023. A slight uptick in new listings has taken some of the pressure off sales prices as buyers have more options to choose from. Home prices rose 0.26% month over month in May, down from a monthly increase of 0.44% in April.

New Listings 468

New Listings Sellers Buyers Mortgage 468

Housing Wire

SEPTEMBER 5, 2024

The Consumer Federation of America (CFA) is calling for policy changes that would help alleviate the difficulties for homebuyers using Federal Housing Administration (FHA) loans when competing in tight markets. mortgage market in 2023, up from 14.3% of the U.S. in 2022, according to HUD.

Buyers 475

Buyers Real Estate Agent Inspection Real Estate 475

Housing Wire

AUGUST 22, 2024

In the complaint, Homie claims that it is bringing this legal action to “recover the damages…suffered as an excluded competitor foreclosed by the Defendants’ conduct from effective competition in the relevant market.” Buyers using Homie would receive some or all of any BAC offered by the seller,” the complaint states.

Realtors 482

Realtors Buyers Brokerage Real Estate 482

Housing Wire

SEPTEMBER 9, 2024

Miami stands as one of the most dynamic and valuable real estate markets in the United States. 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.

Real Estate 471

Real Estate Agents Marketing Real Estate Agent 471

Housing Wire

MARCH 27, 2024

Against the backdrop of elevated mortgage rates and soaring home prices , discerning the evolving financial dynamics between renter-friendly and buyer-friendly markets is also paramount. Notably, renting emerged as the most affordable option across all 50 major metros, an increase from 45 metros in February 2023.

Marketing 493

Marketing Buyers Mortgage Housing Market 493

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

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

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. Simultaneously, home sellers reduced the number of newly listed properties on the market, with a -0.9% decrease from the previous year. “In from July’s levels.

Sellers 397

Sellers Housing Market Buyers Marketing 397

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. Sellers think it’s a seller’s market.

Housing Market 479

Housing Market Marketing Sellers Buyers 479

Appraisal Buzz

NOVEMBER 25, 2024

Zillow is predicting a more active housing market in 2025 , but those hoping to buy — or even refinance — should buckle up for a bumpy ride and be ready to move when conditions are right. More inventory should shake loose in 2025, giving buyers a bit more room to breathe. million in 2023 and a projected 4 million in 2024.

Housing Market 365

Housing Market Marketing Buyers Construction 365

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.” As the market gradually recovers, 2025 should bring more sales and relatively moderate increases in property values. Zillow predicts 4.3

Housing Market 369

Housing Market Tenants Marketing Mortgage 369

Housing Wire

JULY 29, 2024

Any sales growth momentum in the real estate market we might have had early in the year is gone. That implies a continued slow down for home sales in the second half of the year — fewer buyers and fewer sellers, too. I wonder whether the 2024 housing market is beyond saving? housing market at the end of July 2024.

Housing Market 457

Housing Market Marketing Inventory New Listings 457

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. The average home for sale in May lasted 32 days on the market.

Sellers 435

Sellers Buyers New Listings Mortgage 435

Housing Wire

JULY 22, 2024

Fewer sales, mean a shrinking housing market as consumers wait it out. real estate market as we’re now in the second half of 2024. this week to 668,000 single-family homes unsold on the market. There are another 179,000 condos unsold on the market. will be significant enough move in rates to move the needle for buyers.

Buyers 488

Buyers Inventory New Listings Sellers 488

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

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

APRIL 29, 2024

It’s still April, so there could be as many as eight more weeks of seller growth in the spring housing market. The bearish take is that there are many more sellers than buyers and inventory is rising. Even if the imbalance of more sellers than buyers continues, more sales will happen, especially compared to last year at this time.

Sellers 508

Sellers Marketing Inventory Contracts 508

Housing Wire

JULY 23, 2024

Today’s existing home sales report shows that the existing home market is now almost balanced. We are very close to getting this balance nationally and in some markets we’re already there. million as a balanced market, but this equation has a second variable tied to today’s housing economics: affordability. months).

Marketing 493

Marketing Inventory Housing Market Buyers 493

Housing Wire

DECEMBER 9, 2024

Weve now been in the post-pandemic housing market recession market as long as we were in the pandemic boom. Does the housing market start to get back to normal? The number of unsold homes on the market is finally getting closer to 2019 levels. But, the market change isnt evenly distributed. Two and a half years.

Housing Market 418

Housing Market Marketing Inventory Sellers 418

Housing Wire

JUNE 20, 2024

As of June 14, the state had a 90-day average of 10,393 single-family active listings on the market. Despite the state’s tight inventory, the housing market is not as hot as one might expect. Despite the state’s tight inventory, the housing market is not as hot as one might expect. You are seeing a more conservative aggression.

Housing Market 448

Housing Market Agents Marketing Inventory 448

Housing Wire

JUNE 15, 2024

I got one good crumb from the Fed meeting that made me smile: Powell finally admitted that the labor market isn’t tight anymore, which is a beneficial statement for rates down the line if the labor data gets weaker. 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

Appraisal Buzz

AUGUST 14, 2024

homebuyers as a strong economy bolsters the housing market, according to the Realtor.com 2024 Forecast Update. After hitting their lowest point since May 2023 earlier this month, rates are expected to continue falling as the Federal Reserve potentially relaxes its tight monetary policy, thanks to improving inflation trends.

Housing Market 395

Housing Market Marketing Mortgage Inventory 395

Housing Wire

JULY 6, 2024

Now that we are halfway through the year, we can see that active inventory in America is growing, unlike what happened in 2023. This is precisely what the doctor ordered for the housing market. As we can see below, it’s a much healthier year in inventory growth data than in 2023. Last week, we returned close to recent lows.

Housing Market 476

Housing Market Mortgage Inventory Marketing 476

Housing Wire

MAY 21, 2024

In a supply-constrained housing market , even landing a deal at foreclosure auction has become challenging, but those deals tend to be more readily available in markets or neighborhoods that are off the beaten path. It’s very, very market dependent right now. I’m still focusing on those markets with very low (retail) inventory.

Marketing 476

Marketing Investors Real Estate Investing 476

Appraisal Buzz

SEPTEMBER 11, 2024

Much of this sluggishness can be attributed to high mortgage interest rates that are continuing to challenge the housing market. As buyers remain cautious, sales remain low. However, the highly anticipated rate cuts from the Federal Reserve this fall may help improve consumer purchase sentiment for the housing market.

Marketing 445

Marketing Housing Market Buyers Mortgage 445

Housing Wire

OCTOBER 7, 2024

Ironically, a strong employment situation in the country drives the bond market to higher rates. The purchase market is slower to respond, and the data now is still showing the positive impact of lower rates of recent weeks. There were very few buyers in the fourth quarter 2023. more homes on the market than a year ago.

Housing Market 476

Housing Market Marketing Mortgage Contracts 476

Housing Wire

NOVEMBER 18, 2024

What will the housing market look like in 2025? For a more comprehensive look, read our 2025 Housing Market Forecast covering home prices, home sales volumes and more. Mortgage rates continue to move higher and that’s impacting buyers. Frankly, it feels like the housing market is contracting a bit now in November.

Housing Market 448

Housing Market New Listings Marketing Inventory 448

Housing Wire

JULY 24, 2024

Prospective buyers from out of state often come to Indiana for its growing job market, low taxes and relatively affordable housing. Indianapolis-area Realtor Annie Caruso, a founding member of Circle Real Estate, had a buyer coming from the Chicago area for just these reasons. year over year.

Marketing 448

Marketing Realtors Buyers Property Taxes 448

Housing Wire

SEPTEMBER 24, 2024

People seeking more space to accommodate working from home led to a minor outflow of residents that put the housing market on pause. Buyers] have been the ones to benefit from just the steadiness and lack of volatility.” I haven’t seen a shift [to a buyer’s market]. Most of the suburbs have been really hot.

Housing Market 459

Housing Market Marketing Property Taxes Inventory 459

Appraisal Buzz

OCTOBER 31, 2024

from Q4 of 2023 and 3.3% Despite their potential to draw in vandalism and spread community blight, zombie foreclosures continue to have little to no effect on the majority of local housing markets. This was a decrease from 8,903 in Q4 of 2023 but an increase of 1.5% In Q4 of this year, 215,601 residential properties in the U.S.

Housing Market 369

Housing Market Marketing Investors Construction 369