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.

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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.

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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.

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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.

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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%.

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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

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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%

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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%

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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.

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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.

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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

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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).

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Inventory New Listings Contracts Sellers 534

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.

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Mortgage Real Estate Inventory Construction 448

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%

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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.

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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.

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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. Conversely, the subsequent contraction of inventory in June was mirrored by a diminished sales volume. of responding specialists agreed.

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Housing Wire

DECEMBER 14, 2024

Additionally, our pending contracts are still reflecting double-digit year-over-year growth. Weekly pending sales The weekly pending contract data from Altos Research gives us a great peek into real-time housing demand. Lets look at this weeks Tracker data to see if this trend can continue for the rest of 2024.

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Mortgage Inventory New Listings Contracts 396

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

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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

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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.

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Contracts Mortgage Construction Development 448

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 418

Mortgage Housing Market Buyers Contracts 418

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

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Housing Market Marketing Construction Inventory 370

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.

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Mortgage Real Estate Agent Finance Buyers 511

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.

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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

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Construction Inventory Realtors Housing Market 370

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.

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Mortgage Marketing Loan Officers Contracts 397

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.

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Inventory Housing Market Marketing Construction 448

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.

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Contracts Inventory Housing Market Buyers 435

Housing Wire

MAY 23, 2023

From Census: New home sales: Sales of new single‐family houses in April 2023 were at a seasonally adjusted annual rate of 683,000, according to estimates released jointly today by the U.S. months and above, the builders will pull back on construction. The Inventory for homes under construction is 263,000 = 4.6 When supply is 4.4-6.4

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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.

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Inventory Real Estate Housing Market Construction 482

Housing Wire

MARCH 16, 2023

What we see in this latest starts report is encouraging, as a record number of 5-units are still in construction and anything that gets finished is positive against inflation. As you can see, the 1974 recession destroyed the 5-unit construction production. The future growth of 5-unit construction will be at risk if a recession happens.

Mortgage 521

Mortgage Construction Marketing Contracts 521

Housing Wire

JANUARY 9, 2023

Construction starts in the BFR market are being propelled by the ongoing demand for single-family rental units as high mortgage rates and limited for-sale inventory push home-purchase prospects further out of reach of many would-be homebuyers. In addition, JP Morgan Chase & Co. 15, 2022, earnings call.

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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 397

Inventory Mortgage Housing Market Contracts 397

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.

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Contracts Development Insurance Construction 370

Housing Wire

JUNE 7, 2022

The Federal Reserve raised the interest rate by a half percentage point on May 4 and repeatedly has signaled it will continue to raise rates this year and into 2023. The Fed’s interest rate does not directly affect mortgage rates, but higher interest rates steer market activity to create higher mortgage rates and reduce demand.

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Housing Market Mortgage Contracts Construction 397

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.

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