Housing Wire

DECEMBER 4, 2023

Now that Thanksgiving is behind us and December is well under way, we can start looking ahead to the 2024 housing market. It’s looking like we’ll end 2023 with higher housing inventory than this time last year. Home prices will also be up and we have more homes under contract than we did at the end of 2022.

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Housing Wire

JULY 29, 2024

Any sales growth momentum in the real estate market we might have had early in the year is gone. New home sales contracts are coming in pretty consistently fewer than last year — 4.9% Our Immediate sales measure of homes that get listed, take offers and go into contract in a few days is also notably lower than last year.

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Housing Wire

NOVEMBER 6, 2023

held up in 2023, sales volume in the housing market cratered. The industry is in a deep housing recession this year. If we get lucky with mortgage rates, though, we might just be at the bottom of the housing market recession right now. To get the weekly picture of the housing market, watch the video above.

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Housing Wire

JULY 15, 2024

If we look at the housing market right now, sales are down, new listings are down and prices are decelerating. Good inflation data came in last week, the bond market rallied and mortgage rates took a notable dip below 7% for the first time in months. If so, how should we expect the housing market to react?

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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%

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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

DECEMBER 23, 2022

This article is part of our 2022-23 Housing Market Forecast series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory.

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Housing Wire

JULY 3, 2024

Today’s housing market suffers from affordability issues due to mortgage rates in the 7s and high home prices. People are quick to panic over any part of the housing market that looks stressed, fearing we’ll see 2008 levels of destruction all over again. Why choose 2011?

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Housing Market Marketing New Listings Contracts 362

Housing Wire

MARCH 27, 2023

Housing markets in tech hubs were in high demand during the pandemic, with potential buyers facing fierce competition on homes in cities like San Jose and Austin. According to Redfin’s analysis, Austin, Texas has experienced the most rapidly cooling housing market in the nation over the last year.

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Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. ” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!) But the housing market in the second half of 2022? Those trends are likely to continue in 2023.

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Housing Wire

DECEMBER 5, 2022

I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. In many ways it was similar to today, with one exception: When I started, I hadn’t been spoiled by a housing market like the one in 2020 and 2021. economy, especially the mortgage and housing sector.

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Appraisal Buzz

JUNE 17, 2022

According to a new report from Fannie Mae’s Economic and Strategic Group (ESR), a combination of rising interest rates and elevated inflation will continue to weigh on the housing market and are now predicting a 1.2% full-year market growth. The post Slowing Housing Market Expected Soon appeared first on Appraisal Buzz.

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Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. That offering, Unlock HEA Trust 2023-1, is slated to close this week.

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Housing Wire

SEPTEMBER 19, 2023

Buyers early in 2023 had slightly lower rates than now and were optimistic that mortgage rates would go lower still. This “higher for longer” conventional wisdom is working its way through the housing market. There are 345,000 single-family homes in the contract pending stage. and imagining 5.5%

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Housing Wire

APRIL 17, 2023

Local housing markets is a HousingWire magazine feature spotlighting housing trends across the country. Austin, Texas In 2021, Austin had one of the hottest housing markets in the country. For agents and sellers looking to succeed in Austin’s current market, Redding says pricing is key. “We

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Housing Wire

MARCH 26, 2023

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. In a regular market, they would be closer to 5.25%.

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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. The mortgage market is projected to slip further to $1.3 trillion in 2023, according to the government-sponsored enterprise. million in 2023.

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Housing Wire

OCTOBER 18, 2022

Homebuilder confidence continued its downward spiral in October, hitting its lowest level since August 2012, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Tuesday. Three other indices monitored by the NAHB also posted declines in October.

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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 16, 2022

This article is part of our Housing 2022-23 forecast series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. The last year has been a completely split housing market — one that started with the lowest inventory NAR has recorded dating back to 1999 and one with low mortgage rates.

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Housing Wire

JULY 25, 2022

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. in 2022 but will drop to 4% in 2023. trillion 2023, down from $4.8

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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.

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Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. I think in 2023, we’re going to see rates higher for longer,” Toohig concludes.

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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. The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. in December, up from 71.6 in November. million units.

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Housing Wire

JANUARY 22, 2024

For several weeks, I’ve been reporting data that shows the housing market growing in 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.

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Housing Wire

FEBRUARY 24, 2023

New home sales started off 2023 on a positive note, rising 7.2% Census Bureau and the Department of Housing and Urban Development (HUD) on Friday. January marked a surge of people signing contracts to buy new homes. from December to a seasonally adjusted annual pace of 670,000 homes, according to data published by the U.S.

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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. However, considering the affordability challenges with the housing market , it’s good to see a flip in the housing data without rates getting under 6%.

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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

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Housing Wire

DECEMBER 1, 2022

Interest rates and inflation continued to dampen activity in the housing market across all 12 Federal Reserve districts, according to the Fed’s latest Beige Book. ” In the Dallas district, housing outlooks worsened, with those interviewed expecting “further erosion in sales and home starts in the near term.”

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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.

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Housing Wire

OCTOBER 31, 2023

To get the weekly picture of the housing market, watch the video above. Inventory creeps up There are now 562,000 single-family homes on the housing market. This would be the first inkling of a housing market where sales could start to post year-over-year gains. Don’t have time? That’s up 1.5%

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Housing Wire

NOVEMBER 27, 2023

Watch the video above to get the latest housing market update from Altos Research. Inventory (finally) peaks for the year Housing inventory was down by 0.7% There were 58,000 new listings this week, with 10,000 of those homes already under contract as immediate sales. Short on time? from last week.

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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.”

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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.

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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. We had 37.6%

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Housing Wire

JANUARY 19, 2023

While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. 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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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.

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