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 481

Contracts Housing Market Construction Inventory 481

Appraisal Buzz

SEPTEMBER 5, 2024

in 2023, an annual national home price growth of 4.7% The panelists also shared that they think speeding up construction permitting processes, increasing density around transit corridors, and allowing more “missing middle’-type housing are the local and state policy reforms likeliest to increase housing production. million homes.

Construction 459

Construction Inventory Housing Market Contracts 459

Housing Wire

SEPTEMBER 18, 2024

In contract, single-family housing starts were up 15.8% Slowdowns in new single-family construction over the summer reflected sagging builder confidence, but homebuilders appear to be more confident as mortgage rates have fallen over the past few weeks and as the Federal Reserve gets set to cut interest rates. monthly and 6.2%

Marketing 454

Marketing Construction Development Housing Market 454

Eyes on Housing

MAY 19, 2023

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building gained market share during recent quarters but experienced a notable drop for construction starts at the beginning of 2023. This marks a 22% decline compared to the first. Read More ›

Contracts 112

Contracts Design Construction Marketing 112

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 509

Mortgage New Listings Inventory Contracts 509

Housing Wire

JANUARY 13, 2023

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. of builders showed profitability with $1 million plus contracts on average. This number is expected to increase to 72% in 2023. Homebuilding Contract Values.

Marketing 481

Marketing Contracts Supply Chain Project Management 481

Housing Wire

OCTOBER 22, 2024

New pending sales are also on the rise, with the 60,000 homes going under contract last week representing a 9% increase from the same week last year and an 11% increase from the same week in 2022. ” Last week, following the release of construction data for September from the U.S. and condo starts jumped 8.1%.

Sellers 434

Sellers Mortgage Marketing Construction 434

Housing Wire

OCTOBER 26, 2023

Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” Lawrence Yun, NAR chief economist said in a statement. in 2023, reaching an annual rate of 670,000. For those new construction units, the national median new home price is projected to drop by 5.9%

Inventory 408

Inventory Contracts Housing Market Realtors 408

Appraisal Today

SEPTEMBER 13, 2024

6 Tips for Appraising New Construction Homes Excerpts: Lenders, FHA, and the GSEs (Fannie Mae and Freddie Mac) treat new construction a little differently. When appraising new construction homes, certain factors that don’t always apply to existing dwellings must be considered. trillion for 2023, a downward revision from $1.6

Construction 71

Construction Appraisal Contracts Mortgage 71

Housing Wire

JANUARY 19, 2024

“Inflation’s decline and the resultant Fed pivot to signaling future rate cuts rates lead us to believe that home sales and mortgage originations likely bottomed out in the second half of 2023 and that a gradual improvement is now underway. million in Q4 2023. trillion in 2023. trillion in 2023. trillion in 2023.

Mortgage 541

Mortgage Contracts Construction Government 541

Housing Wire

FEBRUARY 26, 2024

It’s not the safest business model either because builders take a contract to buy a home and then, from start to finish, hope that mortgage rates don’t jump on the buyer by the time the home is ready. percent)* above the January 2023 estimate of 649,000. months , the builders will pause construction. Why so low? percent (±19.9

Construction 531

Construction Business Contracts Marketing 531

Housing Wire

APRIL 27, 2023

An index of 100 is equal to the level of contract activity in 2001. Looking ahead to the second half of 2023 and beyond, NAR said it expects that the economy will continue adding jobs , but at a slower pace. in 2023 and 5.6% year over year in 2023 to 1.44 million for all of 2023. year over year.

Inventory 442

Inventory Realtors Contracts Construction 442

Housing Wire

MAY 28, 2024

Every state in the country has more homes on the market now than a year ago and, in many places, new construction is being completed and added to inventory, so it’s not just resale inventory that’s growing. There were 72,000 new listings unsold and another 18,000 listings that are already under contract (i.e., immediate sales).

Inventory 527

Inventory New Listings Contracts Sellers 527

Eyes on Housing

MARCH 7, 2024

The volume of total outstanding acquisition, development and construction (AD&C) loans posted a decline during the fourth quarter of 2023 as interest rates increased and financial conditions tightened. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions.

Contracts 60

Contracts Loan Conditions Construction Insurance 60

Housing Wire

MARCH 6, 2024

The benchmark rate was last changed in July 2023, when it was raised to a range of 5.25% to 5.5%. Still, contacts emphasized that the number of units for sale stayed far short of what they considered a balanced market, and that a dearth of inventories had contributed to faster house price growth from 2022 to 2023.

Mortgage 405

Mortgage Real Estate Inventory Construction 405

Housing Wire

MARCH 21, 2024

Adding his leadership skills will be beneficial at a time when Planet is looking to differentiate itself with various purchase loan products, one-time-close construction loans and other niche programs, the company stated. By contract, the country’s top 50 lenders as a whole saw volumes fall by more than 50% during the same period.

Lending 380

Lending Retail Contracts Construction 380

Housing Wire

FEBRUARY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. NAR expects the economy to continue adding jobs throughout 2023 and 2024, and the 30-year fixed rate mortgage to steadily drop to an average of 6.1% in 2023 and 5.4% year over year in 2023 to a total of 4.47 year over year in 2023 before posting a 19.4%

Housing Market 446

Housing Market Realtors Contracts Buyers 446

Housing Wire

OCTOBER 26, 2022

The builders will pull back on construction when the supply is 6.5 When rates rose back in March, there was a considerable risk to the business model with many homes under construction. months of supply is still under construction 2.1 months of homes haven’t even started construction. When supply is 4.4

Construction 481

Construction Inventory Contracts Buyers 481

Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. in 2023 before increasing to 4.1% in 2023, settling at 4.38 Increased homebuilding will tame price growth, while limited construction will lead to home price appreciation outpacing income growth.” in 2023, to 720,000. from 2022 to 2023, to 1.47

Construction 357

Construction Inventory Realtors Housing Market 357

Housing Wire

MARCH 27, 2023

The ongoing banking instability may affect the availability of jumbo mortgages and residential construction loans due to the high concentration of those originations stemming from small and mid-sized banks, Fannie Mae’s Economic and Strategic Research (ESR) Group said. contraction. trillion in 2023 and $1.35

Construction 371

Construction Lending Finance Mortgage 371

Housing Wire

DECEMBER 19, 2022

With construction costs up more than 30% since inflation began to take off at the beginning of the year, there is little room for builders to cut prices,” NAHB chairman Jerry Konter said in a statement. Looking ahead, Dietz recommended that builders plan one year or more out when thinking about land and construction timelines.

Contracts 426

Contracts Construction Buyers Real Estate 426

Housing Wire

JULY 23, 2024

HousingWire Lead Analyst Logan Mohtashami recently wrote that higher mortgage rates “have increased recession risk by targeting the one sector that always falls before every recession: residential construction workers. compared to June 2023. Data from the U.S. Census Bureau and the U.S. year over year in June. during the year.

Mortgage 510

Mortgage Real Estate Agent Finance Buyers 510

Housing Wire

DECEMBER 1, 2022

“Higher interest rates further dented home sales, which declined at a moderate pace overall but fell steeply in some Districts,” the report states, noting that “residential construction slid further at a modest pace” and “home prices grew less rapidly or declined outright amid weak demand.”. million in 2023 from 5.67 trillion from $2.34

Housing Market 337

Housing Market Marketing Construction Inventory 337

Housing Wire

AUGUST 29, 2024

That means currently just over 700,000 single-family homes are unsold, with about 10% of those going into contract each week, and another 75,000 new listings. While every state in the country has more homes unsold on the market than last year, 2023 wasn’t “normal.” Inventory is climbing but it’s still pretty restricted.

Inventory 482

Inventory Real Estate Housing Market Construction 482

Housing Wire

AUGUST 24, 2023

“In order to achieve a soft landing, economic growth will have to slow to a rate that is below trend for some time in order for the unemployment rate to rise sufficiently to cause wage growth to slow consistent with a 2% inflation target over the long term, but not so slow that the economy falls into a contraction,” the ESR group said.

Construction 275

Construction Retail Mortgage Contracts 275

Housing Wire

JULY 6, 2023

Horton also announced the acquisition of 156 lots and control of around 400 lots through option contracts from Truland affiliates, as well as 201 lots and control of approximately 260 lots through option contracts from third parties. In addition to the Truland acquisition, D.R. These strategic acquisitions will allow D.R.

Contracts 369

Contracts Development Insurance Construction 369

Housing Wire

JANUARY 20, 2023

Homebuilder confidence and demand for mortgages have increased recently, keeping hopes high for an improved housing market in 2023. Fannie Mae expects total home sales in 2023 to be 4.52 in 2023 on a Q4/Q4 basis, followed by an additional drop of 2.3% trillion, contracting further from an estimated $2.34

Mortgage 393

Mortgage Housing Market Buyers Contracts 393

Housing Wire

SEPTEMBER 12, 2023

So, the author tried to use new construction prices from back in April to describe the whole U.S. New contracts dipped as affordability is out of reach for so many. Let’s look at the signals for the week of September 11, 2023. In the chart above, each bar is the total number of single-family homes in contract for a given week.

Contracts 414

Contracts Inventory Housing Market Buyers 414

Appraisal Today

SEPTEMBER 15, 2023

NAR Appraiser Survey July, 2023 In July 2023, NAR Research conducted a survey of all 9,800 appraiser members and 50,000 randomly-selected residential-focused non-appraiser members. The survey results had a comparison of 2022 and 2023, which was very interesting. Updates to AIR and these FAQs were published in August 2023.

Appraisal 83

Appraisal Real Estate Agent Contracts Real Estate 83

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. The lender hired more than 160 employees from the now-shuttered Finance of America (FoA) in January 2023.

Mortgage 357

Mortgage Marketing Retail Construction 357

Housing Wire

FEBRUARY 21, 2023

The mortgage industry started 2023 with optimism due to an increase in housing activity. Fannie Mae expects home sales to remain subdued for the remainder of 2023, although recent mortgage application data came in stronger than expected. The agency now expects 2023 purchase volumes to be $1.3 trillion in 2023 and $2.03

Inventory 393

Inventory Mortgage Housing Market Contracts 393

Housing Wire

MAY 19, 2022

It sees the second quarter of growth rebounding to 1.6%, despite the economy contracting 1.4% Fannie expects a slowdown in homesales for the second and third quarters of 2022, followed by a softening in construction activity and a large deceleration in home price growth. percentage points lower than its previous forecast.

Contracts 442

Contracts Mortgage Construction Development 442

Housing Wire

FEBRUARY 1, 2023

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. The average contract interest rate for 5/1 ARMs decreased to 5.38% last week, down from 5.44% the previous week. But don’t fool yourself — there are signs of volatility on the horizon.

Mortgage 348

Mortgage Marketing Loan Officers Contracts 348

Housing Wire

JANUARY 19, 2024

It happened in 2008 and then didn’t happen again until 2023. Our housing market tracker counts weekly active single-family listings, those homes that aren’t in the contract, and the raw available number of homes for sale. Our tracker articles have a lot more details about the current weekly market and we publish those each Saturday.

Housing Market 458

Housing Market Inventory Contracts Marketing 458

Housing Wire

JANUARY 4, 2023

This article is part of our 2022 – 2023 Housing Market Forecast series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. As a result, we expect the Q4 2022 GDP print to be a temporary positive blip, and for 2023 headline growth to be negative 0.5 million and 4.57

Housing Market 519

Housing Market Marketing Mortgage Contracts 519

Housing Wire

JANUARY 19, 2023

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. Housing markets continued to weaken, with sales and construction declining across [all 12 Federal Reserve] districts,” according to the Federal Reserve Beige Book released on Wednesday.

Inventory 430

Inventory Housing Market Marketing Construction 430

Housing Wire

JUNE 17, 2024

The lender originated $7 billion in loans from January to March, which held steady compared to the same quarter in 2023. G-Rate has filed lawsuits against former employees, accusing them of breaching contracts by failing to pay back advanced signing bonuses and commissions after they left the company.

Human Resources 380

Human Resources Law Loan Officers Legal 380