Appraisal Buzz

DECEMBER 30, 2024

in Novemberthe fourth consecutive month of such increases and the highest level since February 2023. Year-over-year, contract signings increased in all four U.S. NARs Pending Home Sales Index (PHSI)a forward-looking indicator of home sales based on contract signingsadvanced 2.2% from November 2023. from November 2023.

Contracts 435

Contracts Inventory Buyers Sellers 435

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

Housing Wire

DECEMBER 28, 2024

Although those 2019 levels represent a five-decade low before COVID-19, the market was still functioning better than it did from 2020 to 2023. 2023: 35% 2022: 38% Weekly pending sales The latest weekly pending contract data from Altos Research offers valuable insights into real-time trends in housing demand.

Inventory 506

Inventory Housing Market Marketing New Listings 506

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 397

Mortgage Lending Retail Business 397

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 417

Real Estate New Listings Contracts Inventory 417

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 499

New Listings Contracts Inventory Housing Market 499

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 493

Inventory Contracts Realtors Buyers 493

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 506

Mortgage Inventory New Listings Contracts 506

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 478

Contracts Housing Market Construction Inventory 478

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 499

Mortgage New Listings Inventory Contracts 499

Housing Wire

DECEMBER 7, 2024

We also see growth in our pending contract data compared to 2022 and 2023. Weekly pending sales The weekly pending contract data from Altos Research offers an insightful look into real-time housing demand. Mortgage spreads The mortgage spread situation has improved a lot this year, especially compared to the tough times in 2023.

New Listings 498

New Listings Inventory Contracts Housing Market 498

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 465

Housing Market Mortgage Inventory Marketing 465

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

NOVEMBER 30, 2024

However, the recent peak in the 10-year yield was around 5% in 2023, and the downtrend from that level is intact for now. Mortgage spreads The mortgage spread situation has improved in 2024, especially compared to the tough times in 2023. If spreads had remained as high as in 2023, mortgage rates today would be about 0.60% higher.

Mortgage 503

Mortgage Inventory New Listings Contracts 503

Housing Wire

NOVEMBER 14, 2023

As 2023 draws to a close soon, housing inventory has been rising very late in the year. Meanwhile, there are 66,000 new, single-family listings this week, with 11,000 of those already under contract. New contracts pick up year over year We saw 52,500 new contracts started this week for single-family home purchases, which is low.

Housing Market 457

Housing Market Marketing Inventory Contracts 457

Housing Wire

NOVEMBER 23, 2024

Weekly pending sales The Altos Research weekly pending contract data provides insights into real-time demand. Even today, the pending contract data remains resilient despite higher home prices and mortgage rates than last year. Last week saw 2% week-to-week growth but was down 1% year over year.

Mortgage 488

Mortgage Inventory New Listings Contracts 488

Appraisal Buzz

JANUARY 17, 2025

of homes that went under contract that month. month-over-month in December to a seasonally adjusted annual rate of 4,317,683the highest level reported since February 2023, and a 6% year-over-year jumpthe largest annual increase since July 2021. of homes went under contract within two weeksthe lowest share in five years.

Contracts 397

Contracts New Listings Real Estate Agent Mortgage 397

Housing Wire

APRIL 29, 2024

In addition to a higher number of new listings, there were also more new contracts started this week than in any week in 2023. That’s much more than at any point of 2023. Plenty of homes are receiving offers and going into contract immediately upon being listed — 21,000 this week, or 22.5% orate further? of the market.

Sellers 481

Sellers Marketing Inventory Contracts 481

Housing Wire

JANUARY 4, 2025

Our weekly pending contract data has shown year-over-year growth for some time now, even with elevated mortgage rates. Weekly pending sales The latest weekly pending contract data from Altos Research offers critical insights into real-time trends in housing demand. Has the spring home-buying season already begun?

New Listings 492

New Listings Inventory Contracts Mortgage 492

Housing Wire

OCTOBER 16, 2023

The leading indicators for sales prices show that 2023 will end with home price gains of 1-2% over 2022, but the 2024 outlook is weakening and depends on your view of mortgage rates in Q1 and whether home prices will appreciate next year. There are only 326,000 single-family homes in the contract pending stage. Some 38.2%

Inventory 467

Inventory Contracts Sellers New Listings 467

Housing Wire

JANUARY 29, 2024

The lawsuit states that Atlantic Trust signed a wholesale broker agreement with UWM in January 2018 but agreed to amend the contract to add the “All-In Initiative” in December 2022. Therefore, we will follow the agreed upon contract and win damages.” UWM on Thursday when filed a lawsuit in a U.S.

Contracts 448

Contracts Loan Officers Lending Retail 448

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 423

Contracts Legal Sellers Buyers 423

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

Appraisal Buzz

DECEMBER 19, 2024

million in November 2023). month supply in November 2023 but lower than the 4.2-month But this year, buyers jumped on mortgage rates that dipped in early October, bringing more contracts which closed in November.Assuming December sales are generally good, 2024 U.S. This is a decrease from 17% in October and 18% in November 2023.

Inventory 396

Inventory Realtors Buyers Contracts 396

Housing Wire

JULY 20, 2024

The labor market has allowed mortgage rates to stay higher for longer and with the inventory growth this year, I feel much better about rates falling than I did in 2022 or 2023. Compared to the purchase application data, these are live weekly contracts, where purchase apps data looks out 30-90 days. Imagine if both fell together!

Inventory 521

Inventory New Listings Contracts Mortgage 521

Housing Wire

DECEMBER 19, 2023

The defining characteristic of the 2023 housing market has been dramatically fewer home sellers than any recent year. Contracts growing We continue to see the new contracts grow each week: There were 7.7% more new contracts started this week than the same week a year ago. is now $420,000.

Sellers 456

Sellers Marketing Inventory Contracts 456

Housing Wire

JUNE 3, 2024

These are the homes that go into contract immediately after listing. Only 17% of the new listings went immediately into contract this week. Of the 76,000 new listings, 13,000 are already in contract. Overall, there are 10% more total sellers than in 2023 at this time. That rate has been dropping all month.

Inventory 487

Inventory Contracts New Listings Sellers 487

Housing Wire

MAY 28, 2024

There were 72,000 new listings unsold and another 18,000 listings that are already under contract (i.e., Pending sales There are 404,000 single-family homes in contract now. A few thousand more homes are under contract to close in June than there were a year ago. There were also 68,000 new contracts started this week.

Inventory 515

Inventory New Listings Contracts Sellers 515

Housing Wire

APRIL 8, 2024

With the Easter holiday last week, data for housing inventory , new listings and the pace of new contracts started all took a breather from their growth pace. Sales in 2023 were held back because there were not enough homes to buy. New pendings The holiday weekend pushed a few contracts out later too. They don’t have to fall.

Inventory 469

Inventory Contracts New Listings Sellers 469

Housing Wire

JUNE 15, 2024

Mortgage spreads The spread between the 30-year mortgage rate and the 10-year yield has been an issue since 2022 and things got worse after the March 2023 banking crisis. If we took the worst levels of the spreads from 2023 and incorporated those today, mortgage rates would be 0.52% higher.

Mortgage 471

Mortgage Inventory Marketing New Listings 471

Housing Wire

JUNE 8, 2024

Mortgage spreads The spread between the 30-year mortgage rate and the 10-year yield has been an issue since 2022, and in 2023, things got worse after the March 2023 banking crisis. If we took the worst levels of the spreads from 2023 and incorporated those today, mortgage rates would be 0.48% higher.

Mortgage 491

Mortgage Inventory New Listings Contracts 491

Housing Wire

MAY 13, 2024

Inventory in 2023 didn’t really accelerate until mortgage rates approached 8% in the fall. New listings Slightly fewer new listings hit the market this week — 69,000 single-family homes that are newly listed, plus another 20,000 listed that are already under contract. And there are only 2% more homes in contract now than a year ago.

New Listings 425

New Listings Contracts Inventory Sellers 425

Housing Wire

AUGUST 6, 2024

Last year at this time, mortgage rates were rising, eventually peaking at 8% in October 2023. You can see the late 2023 inventory build in this chart in the bright red line. Pending home sales up The number of new contracts ticked up a couple percentage points this week to 66,000, with another 13,000 condo sales started.

Mortgage 473

Mortgage Inventory New Listings Contracts 473

Housing Wire

FEBRUARY 5, 2024

In late October 2023, a Missouri jury found HomeServices of America, as well as Keller Williams and the National Association of Realtors , liable for colluding to artificially inflate real estate agent commissions. There is no dispute that the plaintiffs agreed to contracts that include mandatory arbitration provisions.

Contracts 400

Contracts Brokerage Law Real Estate Agent 400

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

Appraisal Buzz

NOVEMBER 27, 2024

NAR’s Pending Home Sales Index (PHSI)–a forward-looking indicator of home sales based on contract signings–rose 2% to 77.4 An index of 100 is equal to the level of contract activity in 2001. from October 2023. from October 2023. in October. Year-over-year, pending transactions jumped 5.4%. from last month to 68.7,

Contracts 418

Contracts Inventory Mortgage Buyers 418

Housing Wire

APRIL 17, 2024

In a writ of certiorari filed in early February, HomeServices told the Supreme Court that each of its client contracts state that the “signatories can arbitrate any claim or dispute arising out of the contract.” There is no dispute that the plaintiffs agreed to contracts that include mandatory arbitration provisions.

Contracts 392

Contracts Brokerage Law Real Estate Agent 392