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

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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.

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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.

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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

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.

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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.

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Mortgage Inventory New Listings Contracts 514

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.

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Mortgage Inventory New Listings Contracts 518

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%.

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Mortgage Inventory New Listings Contracts 525

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.

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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.

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Housing Wire

MARCH 18, 2024

million plus interest, granted as an interim award in November 2023, to $150.2 million in its financial results for the fourth quarter of 2023, paid the amount in full on Feb. million in damages related to a breach of contract claim, plus interest and attorneys fees. million in net income in 2023, down from $475.5

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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.

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New Listings Contracts Inventory Sellers 501

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 514

Mortgage New Listings Inventory Contracts 514

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.

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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

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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.

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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.

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Housing Wire

DECEMBER 11, 2024

Weekly pending contracts Now that we see how sales can grow with mortgage demand and purchase applications, let’s look at how it tracks into our weekly pending contract data. We have observed that pending contracts improved when mortgage rates dropped to around 6%.

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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.

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Sellers Marketing Inventory Contracts 508

Housing Wire

OCTOBER 17, 2023

Whether you’re a seasoned real estate agent looking to expand your reach or a newcomer eager to establish your digital footprint, ahead we delve into the best real estate lead generation websites for 2023. According to the National Association of Realtors (NAR), some 96% of homebuyers use the internet in their home search.

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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.

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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

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.

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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.

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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.

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Contracts Inventory Buyers Mortgage 418

Housing Wire

JUNE 22, 2024

Purchase application data When mortgage rates fell more than 1% lower in late 2022 and 2023, we saw a sustained bounce higher in purchase application data, which eventually lead to a higher monthly sales print. If we took the worst levels of the spreads from 2023 and incorporated those today, mortgage rates would be 0.47% higher.

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Mortgage Inventory New Listings Contracts 481

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.

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Sellers Marketing Inventory Contracts 482

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 508

Mortgage Inventory Marketing New Listings 508

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%

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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.

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Inventory Contracts New Listings Sellers 516

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 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.

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Contracts Brokerage Law Real Estate Agent 435

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 493

Inventory Contracts New Listings Sellers 493

Housing Wire

JANUARY 26, 2024

If lenders’ losses come in as expected during fourth-quarter 2023 and first-quarter 2024, it will represent eight consecutive quarters of losses for more than 350 independent mortgage bankers, said Jim Cameron, senior partner at Stratmor. million as of Q3 2023.

Mortgage 488

Mortgage Contracts Business 488

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 534

Inventory New Listings Contracts Sellers 534

Housing Wire

FEBRUARY 15, 2024

For iBuyer Opendoor , 2023 was all about moderation. “We We are excited about how we are set up for 2024 and beyond,” CEO Carrie Wheeler told investors and analysts listening to the firm’s Q4 2023 earnings call on Thursday evening. This strategy paid off for the firm, as its net loss of $275 million for 2023 is markedly smaller.

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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.

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Contracts Inventory Buyers Housing Market 397