Appraisal Buzz

JUNE 10, 2024

There seems to be continued debate among appraisers, reviewers, and underwriters regarding seller concessions. A particular point of contention in this debate is whether or not it is appropriate to adjust seller concessions on a dollar-for-dollar basis. 09, Adjustments to Comparable Sales ). 09, Adjustments to Comparable Sales ).

Sellers 418

Sellers Real Estate Appraisal Finance 418

Housing Wire

OCTOBER 22, 2024

Data from Altos Research shows that higher mortgage rates aren’t necessarily keeping sellers from listing their homes. 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.

Sellers 468

Sellers Mortgage Marketing Construction 468

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

NOVEMBER 2, 2023

Real estate agents are always looking for vetted, high-quality leads — and especially so during 2023 market conditions. Below, we evaluated several platforms to find the top eight lead generation providers agents can buy real estate leads from in 2023.

Real Estate 459

Real Estate Real Estate Agent Tools Agents 459

Housing Wire

FEBRUARY 2, 2024

In a high-rate environment, Pennymac Financial Services delivered profits in 2023, mainly due to the performance of its servicing portfolio. million net income in 2023, down from $475.5 billion in unpaid principal balance (UPB) in 2023, down 9% year over year. million in Q4 2023, compared to a pretax income of $101.2

Technology 435

Technology Legal Mortgage Contracts 435

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

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. Selective sellers. Buyer disappointment.

Housing Market 448

Housing Market Marketing Inventory Buyers 448

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.

Buyers 478

Buyers Contracts Agents Realtors 478

Housing Wire

JUNE 3, 2024

These are the homes that go into contract immediately after listing. New listings dry up On the other hand, inventory can’t build too much if sellers don’t sell. There are some signals of seller volume drying up. Seller volume in 2024 had been slowly growing, and I viewed that as an optimistic trend.

Inventory 516

Inventory Contracts New Listings Sellers 516

Housing Wire

JANUARY 8, 2024

Based on the trends we can see after the start of the year, I’ll project 2024 will see about 15% home sales growth over 2023. 2023 started with recovery, but slowed down in Q3 as mortgage rates hit 8%. Sellers are coming back There are 499,000 single-family homes unsold on the market now. Home price signals are increasing too.

Real Estate 508

Real Estate Marketing Inventory New Listings 508

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 468

Contracts Legal Sellers Buyers 468

Housing Wire

JULY 29, 2024

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. That’ll be a 20% increase over the end of 2023. Sellers seem to be backing off.

Housing Market 456

Housing Market Marketing Inventory New Listings 456

Housing Wire

FEBRUARY 20, 2024

Even as money is more expensive and there are more sellers than a year ago, we can also see slight home sales growth over 2023. Dramatically few home sales was the story of 2023. New listings rise New listings continue to show us that more sellers are interested in this market this year. Is it too much inventory?

Mortgage 514

Mortgage Inventory Sellers New Listings 514

Housing Wire

MAY 13, 2024

If you need to communicate about the real estate market with buyers and sellers, you should join us. It’s the peak season for buyers and sellers. Inventory in 2023 didn’t really accelerate until mortgage rates approached 8% in the fall. There are more sellers now as rates have stayed higher for longer. That’s up 1.5%

New Listings 501

New Listings Contracts Inventory Sellers 501

Housing Wire

JULY 8, 2024

After June 2023, mortgage rates climbed from the 6s into the 7s on the way to 8% by October. New listings show 12% more sellers than a year ago When we look at the new supply hitting the market each week, we see the same trend we’ve had for a few months. There are more sellers than a year ago, but still not a lot of sellers.

Inventory 482

Inventory Contracts Sellers New Listings 482

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. As sellers gently re-enter the market, more home sales can happen and are happening.

Inventory 493

Inventory Contracts New Listings Sellers 493

Housing Wire

MARCH 28, 2024

In November 2023, Wood indicated that the trial would take place in the fourth quarter of 2024 , but the status report findings appear to change the timeline. The suit obtained class certification in March 2023. The class encompasses home sellers across 20 local MLSs. The trial would take place in Chicago at the U.S.

Real Estate Agent 458

Real Estate Agent Realtors Real Estate Sellers 458

Housing Wire

OCTOBER 31, 2023

New listings decline isn’t as steep as a year ago There were only 53,000 new listings (single-family homes) unsold this week, plus 10,000 more new listings that are already in contract. There are far fewer sellers now than in any recent year. However, last year’s seller decline was much more steep.

New Listings 511

New Listings Inventory Contracts Housing Market 511

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. Note the inventory climb is not from sellers. 5% fewer sellers each week than last year.

Inventory 482

Inventory Contracts Sellers New Listings 482

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

MAY 28, 2024

No one wants a scenario in which there’s a flood of sellers but no buyers. The volume of new sellers had been inching down for three weeks and it looked like the new-listings rate had passed its peak for the year. As previously mentioned, any signs of rising seller volume is helpful to this market. But this week, it jumped.

Inventory 534

Inventory New Listings Contracts Sellers 534

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. Weekly inventory change (Nov.

Mortgage 514

Mortgage Inventory New Listings Contracts 514

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. A few more sellers appear to be braving the market each week. We had 52,000 new pending sales this week. We had 52,000 new pending sales this week. That’s 5% more sales initiated than this time a year ago.

New Listings 508

New Listings Contracts Inventory Housing Market 508

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

MAY 6, 2024

But keep in mind that May 2023 was the weakest comparison point in sales pricing. More home sellers are coming back to the market each week. These are new listings that are already under contract, so they’re not counted in the active inventory. At that time, there were more sellers and more sales.

Inventory 476

Inventory Contracts Sellers New Listings 476

Housing Wire

JANUARY 16, 2024

Home sellers are starting to ease back into the market, new listings are finally exceeding the levels of a year ago. Slightly more sellers Inventory is building now because we have slightly more sellers each week. 9,000 of those are already in contract. The market had about 49,000 new listings this week. It’s not a boom.

Inventory 482

Inventory New Listings Sellers Contracts 482

Housing Wire

APRIL 22, 2024

We’re rapidly approaching the peak of the market in terms of seller listings, and as inventory builds, the sales rate will peak by the end of June. We are also consistently measuring more sellers coming back into the market. In fact, there are more new sellers this week than in any week of 2023. Now we’re at 69,000.

Inventory 531

Inventory New Listings Sellers Contracts 531

Housing Wire

OCTOBER 28, 2024

The median price of the homes that went into contract this week — these are the new purchase offers with contracts pending — is now 6% greater than last year. New listings go up This year continues to have slightly more sellers than last year but fewer than we used to get in past years. Home prices ticked up this week.

Inventory 476

Inventory New Listings Sellers Contracts 476

Housing Wire

MARCH 11, 2024

The suspicion was that there were a bunch of sellers who were waiting to sell: Once rates fell these sellers would come rushing back to this real estate market and we’d finally see inventory grow. Second, because people think of home sellers as being locked-in by high interest rates. That’s 15% growth over the pace of 2023.

Inventory 516

Inventory New Listings Sellers Real Estate 516

Housing Wire

AUGUST 22, 2024

In a lawsuit filed Thursday, real estate startup Homie Technologies claims that home seller consumers were not the only ones harmed by the real estate industry’s allegedly anticompetitive practices. Buyers using Homie would receive some or all of any BAC offered by the seller,” the complaint states.

Realtors 482

Realtors Buyers Brokerage Real Estate 482

Housing Wire

NOVEMBER 14, 2023

As 2023 draws to a close soon, housing inventory has been rising very late in the year. Last year at this time, sellers and homebuyers hit the brakes hard. Meanwhile, there are 66,000 new, single-family listings this week, with 11,000 of those already under contract. If rates fall, inventory will drop again as demand heats up.

Housing Market 468

Housing Market Marketing Inventory Contracts 468

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. The supply of sellers is the other side of the inventory equation. There are slightly more sellers than last year, but seller pace is still very restricted.

Mortgage 482

Mortgage Inventory New Listings Contracts 482

Housing Wire

NOVEMBER 20, 2023

It looks like this is evidence that housing markets are returning to normal rather than a case of sellers panicking, but it’s worth keeping an eye on. After all, more sellers means more sales in 2024. That’s more new sellers this year than the same week a year ago, signaling a tiny improvement in our supply-starved housing market.

Inventory 476

Inventory New Listings Housing Market Sellers 476

Housing Wire

JUNE 14, 2024

The second occurred in October 2023 when mortgage rates peaked at their highest point since 2000. Data continues to reflect seller-friendly market conditions as the median sale price reached another record high of $439,716 — up 5.1% in May 2023 and close to the record high of 21.7% year over year. That was up from 13.2%

Sellers 488

Sellers Buyers Contracts Brokerage 488

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 525

Mortgage Inventory New Listings Contracts 525

Housing Wire

MARCH 25, 2024

I like to point out that consumers are more sensitive to changes in mortgage rates than to the absolute levels, and since rates are now basically unchanged for the month, just easing down from the early March peak of 7.2%, sellers and buyers are tip-toeing back into the market. More sellers means more sales will happen.

New Listings 511

New Listings Inventory Contracts Sellers 511

Housing Wire

MARCH 28, 2024

The DOJ’s statement of interest, which was filed in mid-February, was in relation to the settlement agreement reached between the Nosalek plaintiffs and MLS Property Information Network (MLS PIN) in July 2023. DOJ’s apparent change of heart in its [statement of interest] in this case is striking,“ NWMLS wrote in the draft of its brief.

Sellers 457

Sellers Contracts Buyers Realtors 457