Housing Wire

JUNE 24, 2024

Sellers can just wait it out, and it looks like the U.S. I think it’s worth examining if sellers will indeed just wait it out now. That is 13% more sellers than last year at this time, but it’s not expanding any more this summer. The pace of sellers has plateaued for the year. housing market is seeing that now.

Inventory 458

Inventory Sellers New Listings Property Taxes 458

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

FEBRUARY 26, 2024

Last year at this time, we were seeing surprising home buyer demand with rates having fallen to the low 6s. We still see more sellers than last year. Last week showed good growth in sales over 2023, and I mentioned that it might be fleeting. It’s just a fraction fewer than the same week in 2023. But we’re not there yet.

Sellers 468

Sellers Inventory New Listings Contracts 468

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 476

Buyers Real Estate Agent Inspection Real Estate 476

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

FEBRUARY 28, 2024

As brokerages across the country have begun implementing buyer agency contracts into their business practices in the wake of the Sitzer/Burnett commission lawsuit verdict, the Consumer Federation of America is warning consumers that they may be filled with “unfair provisions” that primarily protect agents and brokers.

Buyers 480

Buyers Contracts Agents Realtors 480

Housing Wire

JANUARY 2, 2024

Inventory is slowly but steadily increasing over last year, which means slightly more options for buyers this spring. This implies that there are more than enough buyers at these prices and these mortgage rates to keep activity happening in housing. Each week sellers are easing back into the market a little more than last year.

Housing Market 531

Housing Market Marketing Inventory Contracts 531

Housing Wire

APRIL 10, 2024

Perhaps the most striking detail gleaned from a HousingWire analysis of millions of single-family purchase mortgages is how much more homebuyers had to pay in 2023 compared to 2022. The rapid run-up in mortgage rates after years of low rates was a shock to buyers and a disincentive for prospective sellers to list their homes.

Buyers 468

Buyers Mortgage Brokerage Inventory 468

Housing Wire

JUNE 24, 2024

Mortgage rates continue to hover around 7%, as they have since the latter half of 2023 when the Federal Reserve stopped raising benchmark rates. Among the 463 buyer agents surveyed, 50% said their clients planned to buy regardless of mortgage rates. of buyer agents as the reasons their clients were moving, while another 12.1%

Buyers 418

Buyers Mortgage Clients Sellers 418

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

Appraisal Buzz

JULY 9, 2024

The market is trending slightly in the direction of becoming more buyer-friendly thanks to these factors. While the quantity of homes on the market still trails pre-pandemic levels, home buyers are seeing more options to choose from as inventory increases,” said Danielle Hale, Chief Economist for Realtor.com. and 48.7%, respectively.

Housing Market 418

Housing Market Buyers Marketing Inventory 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. So that’s a total of 84,000 total new sellers for single-family homes this week. That’s only 3% more sellers total this week than last year at this time.

Buyers 488

Buyers Inventory New Listings Sellers 488

Housing Wire

MARCH 13, 2024

Now we are looking at a two- to three- business-day process and the buyer may not like the numbers they get back.” For some buyers, surprisingly high insurance premiums are causing them to second-guess the property they have selected. “I nationwide in 2023, with Farmers Insurance Group of Cos. and Liberty Mutual Holding Co.

Real Estate Agent 482

Real Estate Agent Insurance Real Estate Agents 482

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

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

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

FEBRUARY 18, 2025

cities on Zillow between December 2023 and December 2024. Ranking second easiest for sellers is Allentown, Pennsylvania, with 57.4% On average, buyers took 36 days to close a deal, with a median sale price of $242,300 as of last October. The post Home Seller Hot Spots first appeared on The MortgagePoint. of houses sold.

Sellers 291

Sellers Home Value Buyers Real Estate 291

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 Sellers Buyers Realtors 526

Appraisal Buzz

OCTOBER 29, 2024

Sellers approved by Freddie Mac who use Loan Product Advisor will be able to take advantage of the new ACE and ACE+ PDR appraisal waiver expansions. A future Single-Family Seller/Servicer Guide Bulletin will include more details and the date of implementation. up to 97% for Home Possible loans).

Buyers 395

Buyers Appraisal Loan Officers Sellers 395

Housing Wire

MAY 14, 2024

“Most of the demand is coming from first-time buyers,” Trevor Levin, a local agent with Los Angeles-based Nourmand & Associates , said. Nationwide, the share of buyers who are first-time buyers has risen in recent months. Nationwide, the share of buyers who are first-time buyers has risen in recent months.

Buyers 448

Buyers Inventory Landlords Real Estate 448

Housing Wire

DECEMBER 30, 2024

However, there are two big trends that stand out as we launch into 2025 affordability and sellers in the market. 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.

Housing Market 543

Housing Market Marketing New Listings Inventory 543

Appraisal Buzz

FEBRUARY 21, 2025

National house price growth slipped to the slowest pace since June 2023 amid elevated mortgage rates and rising inventories, said Mark Fleming, Chief Economist at First American. Elevated mortgage rates reduce house-buying power for potential buyers, holding back demand.

Inventory 329

Inventory Buyers Sellers Marketing 329

Housing Wire

MARCH 11, 2024

The suspicion was that there were a bunch of sellers who were waiting to sell: Once rates fell these sellers would come rushing back to this real estate market and we’d finally see inventory grow. Second, because people think of home sellers as being locked-in by high interest rates. That’s 15% growth over the pace of 2023.

Inventory 516

Inventory Sellers New Listings Real Estate 516

Housing Wire

FEBRUARY 24, 2025

There are obviously fewer buyers who can afford these prices. In 2024, we saw a notable increase in buyer demand when mortgage rates got close to 6%. As rates climbed in 2023 in February, March, April, May all the way up to 7.5%, inventory grew each week pretty quickly. Its a little more than in 2024 or 2023.

Inventory 495

Inventory New Listings Sellers Contracts 495

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

Housing Market 479

Housing Market Marketing Sellers Buyers 479

Housing Wire

JUNE 14, 2024

The second occurred in October 2023 when mortgage rates peaked at their highest point since 2000. Data continues to reflect seller-friendly market conditions as the median sale price reached another record high of $439,716 — up 5.1% in May 2023 and close to the record high of 21.7% year over year. That was up from 13.2%

Sellers 488

Sellers Buyers Contracts Brokerage 488

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

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

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 472

Real Estate Agents Marketing Real Estate Agent 472

Housing Wire

FEBRUARY 13, 2025

But these new listings aren’t attracting buyers, and pending home sales dropped 4.2% According to the first report , the monthly decline in pending sales was the largest on a seasonally adjusted basis since August 2023. Tariffs and federal workforce reductions are also troubling many buyers and sellers.

Buyers 315

Buyers Government New Listings Inventory 315

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

Housing Wire

JULY 29, 2024

That implies a continued slow down for home sales in the second half of the year — fewer buyers and fewer sellers, too. That’ll be a 20% increase over the end of 2023. This year, I’m not expecting that late-year surge, so the growth over 2023 will subside a bit. Sellers seem to be backing off.

Housing Market 458

Housing Market Marketing Inventory New Listings 458

Housing Wire

MARCH 6, 2024

Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates. percentage points—sellers take notice. Facing these realities, many would-be sellers decide to stay put. In the first half of 2023, the year-over-year increase in the share of listings with price cuts rose as high as 80.7%.

Mortgage 468

Mortgage Sellers New Listings Buyers 468

Housing Wire

JULY 10, 2024

The companies believe this will help lead to a higher hit rate with buyers and sellers, in addition to passing savings on to them. With home affordability hovering near all-time lows, this consumer savings opportunity is incredibly valuable for both buyers and sellers,” said Homebot CEO Charlie Pratt in a statement.

Sellers 433

Sellers Loan Officers Buyers Technology 433

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

JANUARY 12, 2024

In the third quarter of 2023, 88.5% To conduct this study , Redfin analyzed data from the Federal Housing Finance Agency ’s National Mortgage Database as of the third quarter of 2023. For repeat buyers and first-time buyers who entered the market in 2022, the average mortgage rate was above 6%. in mid-2022. below 5%, 59.4%

Real Estate Agent 493

Real Estate Agent Sellers Inventory Mortgage 493