Appraisal Buzz

JULY 5, 2024

billion in full-year 2023 losses. property/casualty insurers show that underwriting losses in 2023 resembled those in a challenging 2022. billion in 2023 from $44 billion the year before, a 19% reduction. in 2023, but incurred losses and loss adjustment costs increased by 10.1 percent in 2023. It dropped to $35.7

Insurance 195

Insurance Supply Chain Contracts Investing 195

Housing Wire

OCTOBER 12, 2022

The forecast for the housing market in 2023 gets worse by the month, with the latest report predicting a million-plus decline in existing home sales. trillion in 2023, according to the government-sponsored enterprise. Looking ahead to the full year 2023, Fannie Mae expects an average home price decline of 1.5%. million in 2023.

Contracts 448

Contracts Modernization Housing Market Mortgage 448

Housing Wire

MARCH 12, 2024

loanDepot greatly reduced its costs in 2023 while revenues were in free fall amid a contracting market. million in 2023, compared to a $457.6 In 2023, a year marked by lower volume throughout the market, loanDepot’s revenues decreased 22% to $974 million. billion in 2023. million in Q4 2023, compared to $25.4

Legal 416

Legal Contracts Marketing Mortgage 416

Inman

APRIL 22, 2024

Amid an industrywide recruitment war, Better Homes and Gardens Real Estate has secured its largest contract renewal of 2024 with Atlanta-based BHGRE Metro Brokers. The 45-year-old brokerage is the second-largest franchise in the BHGRE network, with more than 2,400 agents across 27 offices.

Contracts 144

Contracts Brokerage Real Estate Agents 144

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

Inman

MARCH 24, 2023

1 large team nationwide in the 2023 Ellie Awards. Terms of the contract were not disclosed. The team closed the priciest sale in Orange County last year with a $55 million property in Crystal Cove and was named the No.

Contracts 179

Contracts Brokerage Agents 179

Housing Wire

JANUARY 12, 2024

As a group, the trio originated about $80 billion in mortgages in 2023, down from nearly $218 billion the prior year – a $138 billion decline (63%). Wells Fargo, for example, shrunk its mortgage business dramatically in 2023, per filings with the Securities and Exchange Commission (SEC). billion in 2023. billion from $4.2

Mortgage 448

Mortgage Lending Retail Business 448

Housing Wire

DECEMBER 16, 2022

After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. The market has now faced a contraction in existing-homes sales for nine consecutive months, while home prices and rates rise. One projection for 2023 is an easier buying market for first-time buyers.

Buyers 497

Buyers Realtors Inventory Sellers 497

Housing Wire

MAY 4, 2023

Sales and new pending contracts are below pre-pandemic levels. What can we expect in 2023? At the same time, there are some key trends I think will characterize the housing market in 2023. Home shoppers who are waiting to score a deal are going to be disappointed in 2023. Buyer disappointment. Mortgage rate fatigue.

Housing Market 446

Housing Market Marketing Inventory Buyers 446

Housing Wire

APRIL 20, 2022

Fannie Mae has lowered its mortgage origination forecasts for 2022 and 2023 due to the Federal Reserve’s (Fed) aggressive inflation-fighting monetary policy and corresponding volatility in the mortgage market. It also downsized the 2023 forecast from $2.7 reduction in 2023 – previously, it expected a 4.1% trillion to $2.4

Technology 476

Technology Mortgage Contracts Real Estate 476

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

JANUARY 5, 2023

residential mortgage-backed securities (RMBS) market continues to look bleak for 2023. This year, RMBS issuance volumes are expected to contract further from 2022 due to the impact from elevated rates, high inflation and recession possibilities. . RMBS at DBRS Morningstar said in a report.

Marketing 469

Marketing Investors Mortgage Contracts 469

Housing Wire

DECEMBER 4, 2020

More importantly, he said the current environment may even holdup into 2023. “We However, Nothaft expects that mortgages originated today, with a contract rate of 3% or lower, are more likely to have a relatively long life and lenders will not see them coming into refinance anytime soon. “That’s a lot of mortgages.

Mortgage 518

Mortgage Contracts Construction Inventory 518

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 415

Technology Clients Real Estate Agent Business 415

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 408

Mortgage Marketing Investors Lending 408

Eyes on Housing

MARCH 29, 2024

Real gross domestic product (GDP) increased in 49 states and the District of Columbia in 2023 according to the U.S. Delaware is the only state to report an economic contraction last year. Bureau of Economic Analysis (BEA). The percent change in real GDP ranged from a 5.9 percent increase in North Dakota to a 1.2 percent.

Contracts 147

Contracts 147

Housing Wire

OCTOBER 18, 2022

And given expectations for ongoing elevated interest rates due to actions by the Federal Reserve, 2023 is forecasted to see additional single-family building declines as the housing contraction continues. The post Homebuilders say housing starts will fall even further in 2023 appeared first on HousingWire.

Housing Market 434

Housing Market Buyers Contracts Construction 434

Housing Wire

DECEMBER 20, 2022

The housing market will continue to slow down in 2023 , even though mortgage rates have declined recently. That’s the takeaway from a group of economists at Fannie Mae , who slashed their forecast for 2023 this week. . in 2023, a slight improvement from the previous forecast, which predicted a 0.6% in 2022 and drop 0.5%

Housing Market 364

Housing Market Marketing Contracts Mortgage 364

Housing Wire

DECEMBER 13, 2022

million existing home sales in 2023, down 6.8% In addition to a further drop in existing home sales, Yun said he expects the annual median home price to remain relatively flat year over year in 2023, rising just 0.3% Fraud risk continues to rise even as the market contracts . from the 5.13 to $384,500. annual increase in 2022.

Realtors 435

Realtors Mortgage Housing Market Real Estate 435

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.” in January.

Inventory 368

Inventory Buyers Housing Market Contracts 368

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 521

Mortgage Inventory New Listings Contracts 521

Housing Wire

MARCH 28, 2023

2023 began as 2022 had ended, with U.S. Because most home sales take several months from contract to closing, the data likely includes some deals struck in September and October. The annual growth rate in December was 4.4%. The index came in at a reading of 292.71 in January. On a month-over-month basis, the U.S.

Buyers 414

Buyers Inventory Contracts Finance 414

Housing Wire

OCTOBER 19, 2024

We have had three weeks of positive year-over-year growth in both purchase application data and weekly pending contract data, with last week showing a noticeable jump from last year. Weekly pending sales Below is the Altos Research weekly pending contract data to show real-time demand.

Inventory 504

Inventory New Listings Mortgage Contracts 504

Appraisal Buzz

JULY 31, 2024

The rise in housing inventory is beginning to lead to more contract signings,” said Lawrence Yun, NAR Chief Economist. A measure of prospective home sales based on contract signings, the Pending Home Sales Index (PHSI) increased to 74.3 The level of contract activity in 2001 is represented by an index of 100. from June 2023.

Contracts 397

Contracts Inventory Buyers Housing Market 397

Walitt Solutions

MAY 24, 2024

My market value conclusion came in below the purchase contract price. Now, a few weeks later, the parties have signed an addendum to the contract to match my value conclusion; the client has sent me that addendum. The client wants me to change my report to show the new amended contract price! What should I do?

Contracts 74

Contracts Appraisal Clients Market Value 74

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. million in 2023 to 4.26 from May 2023 to 63.6, from May 2023 to 56.7. Per the report, every U.S. from the previous year.

Contracts 418

Contracts Inventory Buyers Mortgage 418

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 466

Real Estate New Listings Contracts Inventory 466

Housing Wire

OCTOBER 25, 2022

The MBA forecasts a recession in the first half of 2023, with the unemployment rate at 5.5% trillion in 2023, compared to $2.26 However, other industry forecasters believe that the MBA’s projections, which anticipate a 9% production decline in 2023, are actually rather “rosy.” million in 2023. .

Mortgage 346

Mortgage Contracts Insurance Business 346

Inman

JANUARY 18, 2024

When it was first listed in early 2023, the unit asked $175 million. The duplex at Central Park Tower marks one of the rare deals in New York City that has commanded nine figures in recent years.

Contracts 176

Contracts Development Marketing 176

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

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. As we can see below, it’s a much healthier year in inventory growth data than in 2023. This is precisely what the doctor ordered for the housing market. have higher inventory data than the national data.

Housing Market 475

Housing Market Mortgage Inventory Marketing 475

Housing Wire

NOVEMBER 27, 2023

There were 58,000 new listings this week, with 10,000 of those homes already under contract as immediate sales. Pending sales make a surprising jump Here’s the surprising data point that stands out: Each week, we’re seeing more new contracts started than last year at this time. We had 52,000 new pending sales this week.

New Listings 508

New Listings Contracts Inventory Housing Market 508

Appraisal Buzz

SEPTEMBER 26, 2024

NAR’s Pending Home Sales Index (PHSI) is a forward-looking indicator of home sales based on contract signings, ad increased to 70.6 A PHSI reading of 100 is equal to the level of contract activity in 2001. “A However, contract signings remain near cyclical lows even as home prices keep marching to new record highs.” a drop of 2.2%

Contracts 359

Contracts Buyers Mortgage Inventory 359

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 513

Mortgage New Listings Inventory Contracts 513

Housing Wire

OCTOBER 7, 2024

The suit alleges that if the homeowner agreed to take part in MV Realty’s program, “a third-party notary with no information about the contract was sent to the home, where the homeowner was presented with a multi-page contract with small font and confusing legal jargon for the first time and told to sign.”

Realty 440

Realty Contracts Legal Brokerage 440

Housing Wire

JULY 25, 2023

When you look at a sales contract that is obtaining mortgage financing, 70% of the components of that offer are mortgage-related. For example, there are timelines within a sales contract that are directly tied to how fast a lender or a loan originator can deliver on those timelines.

Real Estate Agent 293

Real Estate Agent Mortgage Real Estate Training 293

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. There were 36,000 total custom building starts during the first quarter of the year.

Contracts 113

Contracts Design Construction Marketing 113