Housing Wire

MARCH 15, 2024

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

Buyers 513

Buyers Agents Mortgage Real Estate Agent 513

Appraisal Buzz

DECEMBER 18, 2024

Manchester, NH, Zillow s most favored city for 2024, was a hit with an influx of homebuyers this year. cities, such as page-view traffic, home value increase, and the speed at which properties sell, in order to identify the most popular markets in 2024. Zillow examined housing variables that represent consumer demand in U.S.

Architecture 370

Architecture Home Value New Listings Contracts 370

Appraisal Buzz

OCTOBER 7, 2024

In response, eager sellers have brought prices down, suggesting that buyers are in a good position to negotiate,” Jones said. Buyers flocked to this affordable market, resulting in falling inventory, a snappy market pace, and significant price growth,” Jones said.

Inventory 417

Inventory Housing Market Buyers Construction 417

Appraisal Buzz

NOVEMBER 6, 2024

Prior to the pandemic, the average mortgage payment was 115% higher; it most recently peaked in May 2024. Key Findings: Although average mortgage rates are much higher, 45% of buyers who have purchased a home in the past year report having a rate below 5%. The purchasing power of house shoppers was directly impacted by this.

Buyers 370

Buyers Marketing Sellers Loan Officers 370

Housing Wire

JULY 27, 2024

One of my critical forecasts for 2024 was the growth of new listings data and active inventory, even with higher mortgage rates. Many of my CNBC interviews , starting from late last year and just last week , have been on this theme, and new listings have grown in 2024. However, the new listings data has slightly disappointed me.

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New Listings Inventory Mortgage Sellers 460

Housing Wire

SEPTEMBER 30, 2024

Buyers in August 2024 needed to earn $77,000 per year to afford a median-priced starter home of $250,000. When comparing income to the cost of monthly mortgage payments, the typical buyer now earns 8.9% Starter-home buyers are skewing older than they used to. more than they need. In August 2023, that figure was only 3%.

Buyers 433

Buyers Real Estate Mortgage Brokerage 433

Housing Wire

AUGUST 2, 2024

home seller pays a 2.55% commission to the real estate agent hired by their buyer, down from an average of 2.62% in January, according to a Redfin analysis of MLS data. 28 and July 14 of this year to compare average commission rates paid to a buyer’s agent. The typical U.S.

Agents 424

Agents Buyers Real Estate Agent Sellers 424

Housing Wire

DECEMBER 30, 2024

Despite rising mortgage rates through much of 2024, recent indications show growing boldness among homebuyers heading into the new year. “Despite higher mortgage rates in November and persistent affordability challengers, buyers took advantage of more inventory as pending home sales reached the highest level in nearly two years.

Inventory 329

Inventory Buyers Housing Market Mortgage 329

Housing Wire

AUGUST 16, 2024

year over year in Q2 2024, the largest increase since Q2 2022, according to a report published Thursday by Redfin. While investors are still sensitive to mortgage rate changes, they are less sensitive than consumer buyers as 69% of investors pay in cash. annually in Q2 2024. The number of home purchases by investors rose 3.4%

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Investors Tenants Real Estate Property Taxes 417

Appraisal Buzz

NOVEMBER 13, 2024

The study found that 48% of buyers said costs were higher than expected, with 39% exceeding their budget and 38% reporting impacts on their savings. The study found that 48% of buyers said costs were higher than expected, with 39% exceeding their budget and 38% reporting impacts on their savings. times more than boomers (31%).

Real Estate 417

Real Estate Sellers Buyers Renovations 417

Appraisal Buzz

OCTOBER 29, 2024

The platform began in October 2023 with local level data in only three states, but it has since grown to include data in around 40 states, with goals to reach all 50 by the end of 2024. The post Freddie Mac Enhances Product Selection With an Emphasis on First-Time Buyers first appeared on The MortgagePoint.

Buyers 395

Buyers Appraisal Loan Officers Sellers 395

Housing Wire

JULY 22, 2024

real estate market as we’re now in the second half of 2024. will be significant enough move in rates to move the needle for buyers. To me, that lack of new supply suggests it’ll keep a cap on inventory growth even if buyer demand stays dormant for the rest of the year. For buyers and sellers, these conditions can change fast.

Buyers 427

Buyers Inventory New Listings Sellers 427

Housing Wire

OCTOBER 15, 2024

Although the decision is ultimately highly personal and based on a buyer’s budget, needs, and preferences, there are a few things agents need to consider to help them make the best decisions. It can be tough for a buyer to choose when faced with the allure of a brand-new build or the charm and affordability of an older home.

Construction 414

Construction Buyers Agents Marketing 414

Housing Wire

AUGUST 1, 2024

When it comes to handling compensation eXp Realty is not mincing its words — it is not sharing its listing fee with the buyer’s broker. However, the firm says this does not mean it is unwilling to work with buyer’s brokers. But it will be their sellers who make the decision on an offer of compensation to a buyer broker.

Sellers 427

Sellers Buyers Agents Law 427

Appraisal Buzz

DECEMBER 9, 2024

Buyers realized mortgage rates may not drop below 5%, and probably not below 6%, in the near future. The post Post-Election Market Activity Ticks Up as Buyers Begin to Tour Homes first appeared on The MortgagePoint. The post Post-Election Market Activity Ticks Up as Buyers Begin to Tour Homes appeared first on Appraisal Buzz.

Buyers 369

Buyers Marketing New Listings Agents 369

Appraisal Buzz

NOVEMBER 13, 2024

“Technology has enabled homeowners to live more sustainably and more affordably, which is a growing priority for prospective buyers,” said Amanda Pendleton, a Home Trends Expert at Zillow. It is an indication that a feature is in demand and appealing to a buyer when it appears in an increasing percentage of listings.

Buyers 418

Buyers Design Real Estate Agent Real Estate 418

Appraisal Buzz

DECEMBER 20, 2024

The study results come from an Ipsos survey that was commissioned by Redfin and administered to 1,802 Americans between the ages of 18 and 65 in September 2024. The post Buyers With Children More Likely to Receive Family Down Payment Assistance first appeared on The MortgagePoint.

Buyers 382

Buyers Agents Mortgage Clients 382

Housing Wire

SEPTEMBER 18, 2024

According to NAR , five percent of sellers and four percent of buyers found their agent through another agent’s referral. A referral estate referral occurs when a licensed agent or broker passes along a prospective buyer or seller to another licensed agent to handle a transaction. Everybody’s happy!

Real Estate 403

Real Estate Real Estate Agent Agents Brokerage 403

Appraisal Buzz

DECEMBER 23, 2024

Using factors like market stability, long-term growth, affordability, and market fluidity, this guide highlights housing markets expected to perform well in 2024. The Best States for Homebuyers in 2024 ConsumerAffairs analysis ranks states with strong market resilience, potential for value appreciation, and affordability.

Housing Market 397

Housing Market Investors Buyers Home Value 397

Housing Wire

JUNE 7, 2024

Listings are the life-blood of all successful real estate businesses, but making the leap from working primarily with buyers to working with sellers can be a challenge for many agents early in their careers. This is a good strategy for agents who are looking to work with buyers as well as sellers. Who’s it for?

Real Estate 439

Real Estate Open Houses Agents Sellers 439

Appraisal Buzz

DECEMBER 19, 2024

More buyers have entered the market as the economy continues to add jobs, housing inventory grows compared to a year ago, and consumers get used to a new normal of mortgage rates between 6% and 7%. In November, 25% of transactions were cash sales, compared to 27% in October 2024 and November 2023. from October to 4.15

Inventory 382

Inventory Realtors Buyers Contracts 382

Appraisal Buzz

DECEMBER 5, 2024

Down payment shares peaked early this year, in Q2 2024 versus the normal Q3 trend, according to Realtor.coms bi-annual down payment report. Nationwide, down payments in Q3 of 2024 averaged 14.5% with a median down payment of $30,300, down from Q2 2024s historical peak of 14.9% and $32,700. pp), Vermont (1.1

Inventory 397

Inventory Buyers Mortgage Appraisal 397

Housing Wire

DECEMBER 20, 2024

The combination of the 2024 presidential election , anticipated future rate cuts, mortgage rate volatility and housing affordability challenges have led more potential homebuyers to stay on the sidelines. Its survey data for November 2024 showed that 10% of builders reported that consumers were reentering the market following the election.

Buyers 283

Buyers Construction Marketing Mortgage 283

Housing Wire

DECEMBER 30, 2024

All the housing market data for 2024 is in, and its fair to say that the housing market surprised us again! Home prices finished 2024 up a few percent nationally and mortgage rates are at their highest level in seven months back over 7% as we head into January. The elephant in the room is affordability. Each line is a year.

Housing Market 425

Housing Market Marketing New Listings Inventory 425

Housing Wire

AUGUST 26, 2024

The program, dubbed “Welcome Home RateBreak,” is available to buyers purchasing a single-family home and earning 80% or less of their area median income (AMI). This buyer would save more than $5,800 from the two-year buydown, according to Rocket. billion in mortgages in the second quarter of 2024, up from $20.2

Buyers 491

Buyers Insurance Mortgage Business 491

Housing Wire

MAY 14, 2024

The respondents included 420 people who bought a home in 2023 or 2024, and another 500 who plan to do so in 2024 or 2025. “We We found that buyers stepping into the 2024 housing market have much to learn from previous shoppers,” the report stated. More than 80% of recent buyers asked for at least one seller concession.

Real Estate Agent 478

Real Estate Agent Agents Real Estate Buyers 478

Appraisal Buzz

NOVEMBER 26, 2024

Zillow anticipates a more active housing market with more buyers obtaining the upper hand in 2025. Buying a home in 2024 was surprisingly competitive given how high the affordability hurdle became,” said Skylar Olsen, Zillow Chief Economist. More inventory should shake loose in 2025, giving buyers a bit more room to breathe.”

Housing Market 396

Housing Market Tenants Marketing Mortgage 396

Housing Wire

OCTOBER 24, 2024

Although completed foreclosure auctions have plateaued in 2024 at less than half of pre-pandemic levels, the number of delinquent mortgages is close to pre-pandemic levels, according to an Auction.com analysis of public record data from ATTOM Data Solutions and survey data from the Mortgage Bankers Association (MBA). There is a lot of fear.”

Retail 419

Retail Buyers Renovations Finance 419

Housing Wire

JANUARY 2, 2024

real estate market is in and it may surprise you, but pretty much all the signals for housing in 2024 are pointing for growth now. Inventory is slowly but steadily increasing over last year, which means slightly more options for buyers this spring. The sales are growing in 2024. The last week of data for the year U.S.

Housing Market 527

Housing Market Marketing Inventory Contracts 527

Appraisal Buzz

NOVEMBER 25, 2024

Buying a home in 2024 was surprisingly competitive given how high the affordability hurdle became,” says Skylar Olsen, chief economist for Zillow, in a statement. More inventory should shake loose in 2025, giving buyers a bit more room to breathe. million in 2023 and a projected 4 million in 2024.

Housing Market 365

Housing Market Marketing Buyers Construction 365

Housing Wire

DECEMBER 11, 2024

The stagnant 2024 housing market is one the real estate industry cant wait to get away from, but not so for the niche luxury market. in the first half of 2024, and the median luxury home price jumped by 14.2%. in the first half of 2024, and the median luxury home price jumped by 14.2%. Thats compared to a 12.9%

Housing Market 319

Housing Market Marketing Buyers Real Estate 319

Housing Wire

JUNE 27, 2024

With rates moderating in June, purchase mortgage applications indicate that rate-sensitive buyers are hesitantly responding.” Kushi added that more buyers may be enticed back into the market if mortgage rates continue to fall and inventory levels continue to rise. million existing homes to be sold in 2024, up from 4.09

Inventory 486

Inventory Contracts Realtors Buyers 486

Housing Wire

APRIL 23, 2024

The settlement agreement also mandates that MLS participants working with buyers must enter into a written buyer broker agreement. A final approval hearing for the settlement has been set for November 2024.

Realtors 468

Realtors Agents Buyers Legal 468

Housing Wire

OCTOBER 17, 2024

economy appears to be on firmer footing than previously thought, mortgage rates are forecast to end 2024 at 6% and home-price growth is also on the move. in 2024 and 2% in 2025. in 2024 and 1.9% in 2024 and 1.9% in 2024 and 3.6% They’re now projecting gross domestic product (GDP) growth to fall from 3.2%

Sellers 509

Sellers Mortgage Buyers Business 509

Appraisal Buzz

DECEMBER 30, 2024

To be specific, the typical rate for a 30-year fixed-rate mortgage fell from 7.79% in October 2023 to 6.12% in October 2024. But 510% is okay, too, if youre a first-time home buyer. is $501,100, according to the most recent numbers from November 2024. October 2024 marked the 12th straight month of inventory growth.

Housing Market 347

Housing Market Marketing Inventory Real Estate 347

Housing Wire

MARCH 11, 2024

The only way inventory would grow in 2024 is if mortgage rates climbed. More sellers generally will allow for more sales in 2024. Last year there was still a lot more buyer momentum than sellers. This buyer momentum at the time led to 5% home price appreciation in 2023. My response at the time was actually the opposite.

Inventory 509

Inventory Sellers New Listings Real Estate 509

Housing Wire

JULY 23, 2024

Fannie Mae economists project two rate cuts by the end of 2024. in 2024 and to 6.4% trillion due to home price appreciation that is expected to finish 2024 higher than previously anticipated. trillion due to home price appreciation that is expected to finish 2024 higher than previously anticipated. trillion this year.

Mortgage 504

Mortgage Real Estate Agent Finance Buyers 504