Appraisal Buzz

AUGUST 2, 2024

Homeowner equity in the United States saw a significant increase in the second quarter of 2024, according to ATTOM Data’s latest U.S. Home Equity & Underwater Report. This rise marks a notable recovery from the first quarter of 2024, when 45.8% The report reveals that 49.2% The report reveals that 49.2%

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Home Value Market Value Housing Market Mortgage 418

Appraisal Buzz

AUGUST 5, 2024

A new analysis from Zillow has found that luxury home value growth has now outpaced appreciation on typical homes for five consecutive months. The typical luxury home—defined by Zillow as the most valuable 5% of homes in a given region—is worth about $1,620,000. Luxury home values across the U.S.

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Home Value Inventory Buyers Marketing 418

Appraisal Buzz

MARCH 10, 2025

Buyers are willing to pay nearly 4% more than expected for a home that is already remodeled (3.7%)an Thats the highest sale price premium of all 359 listing keywords in a new study by Zillow , which looked at more than two million homes listed for sale on their site in 2024. home value growth in 2025.

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Renovations Home Value Buyers Sellers 414

Housing Wire

JANUARY 22, 2025

Single-family rental ( SFR ) homes are now priced 20% higher than the typical apartment, according to Zillow s rental market report for December 2024. metro areas and found that the typical asking rent for a single-family home reached $2,174 per month in December. Zillow analyzed the 50 largest U.S. year over year and 26.2%

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Inventory Home Value Housing Market Buyers 448

Housing Wire

JANUARY 16, 2025

Cleveland-based Corporate Settlement Solutions (CSS) released an analysis Thursday that highlights a growing gap between appraised home values and sale prices. Across the 19 East Coast and Midwest states in which CSS operates, appraisals were higher than sale prices in 57% of transactions during the second half of 2024.

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Appraisal Valuation Home Value Housing Market 397

Appraisal Buzz

DECEMBER 6, 2024

According to the Q4 2024 Fannie Mae Home Price Expectations Survey (HPES) , following an average expectation for national home price growth of 5.2% in 2024, a panel of more than 100 housing experts forecasts home price growth to decelerate to 3.8% for 2024, 3.1% for 2024, 3.1% in 2025 and 3.6%

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Housing Wire

DECEMBER 16, 2024

Dramatic mortgage rate movements are destined to play a major role in the coming year, according to Zillow ‘s newest forecast , which also calls for declining mortgage rates to be a catalyst for home-sales growth and home-price appreciation in 2025. Zillow says that 2024 will finish with 4.06 million in 2025.

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Housing Market Marketing New Listings Home Value 370

Appraisal Buzz

DECEMBER 6, 2024

A recent analysis of Federal Housing Finance Agency (FHFA) data by the Urban Institute dispels the myth that manufactured homes do not appreciate as much as site-built homes. Over this period, site-built homes appreciated 212.6%, while manufactured homes followed closely at 211.8%. and 209.6%, respectively.

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Appraisal Buzz

MARCH 13, 2025

In 2024, the homeownership rate among single women rose slightly to 51.9%, up from 51.8% Single Women Are Prioritizing Homeownership More than 20 million single women owned homes in 2024, surpassing single men, who owned 14 million homes. This modest increase continues a recovery from its 2016 low of 49.3%

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Housing Market Marketing Home Value Tools 394

Housing Wire

NOVEMBER 7, 2024

Not long ago, homeowners insurance was a minor concern for most homebuyers, real estate agents and mortgage originators. In California, where more than 7,000 wildfires occurred last year, the typical homeowner in many ZIP codes paid premiums as low as 0.05% of home value, according to the Times.

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Insurance Supply Chain Real Estate Design 482

Appraisal Buzz

FEBRUARY 14, 2025

housing market continues to struggle with mortgage rates nearing the 7% mark , and the average U.S. home valued at $355,328 (up 2.7% over the past year), Fannie Mae and Freddie Mac both closed out 2024 on a high note, both reporting quarterly and annual gains. billion Q4 2024 net income, with its net worth reaching $94.7

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Finance Housing Market Home Value Design 221

Appraisal Buzz

NOVEMBER 13, 2024

The mortgage servicing landscape has long been a crucible of change, where today’s decisions lay the groundwork for the industry’s future. Formed in 2023, the MSEA is a platform for nurturing the next generation of mortgage leaders. Here’s what our panel of mortgage servicing executives had to share.

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Mortgage Technology Clients Tools 410

Housing Wire

OCTOBER 18, 2024

The Home Equity Conversion Mortgage ( HECM ) and the Home Equity Line of Credit ( HELOC ) remain as the primary options left for older homeowners who want to use their home equity to create more liquidity during retirement. It also allows the homeowner to draw a portion of the home’s value, but only for a defined period.

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Mortgage HOA Property Taxes Home Value 448

Appraisal Buzz

OCTOBER 18, 2024

Department of Housing & Urban Development (HUD) have announced new residential construction statistics for September 2024. below the revised August 2024 rate of 1,470,000, and 5.7% The housing market remains structurally underbuilt, and homeowners with locked-in low mortgage rates are keeping existing-home inventory limited.

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Construction Housing Market Inventory Home Value 418

Housing Wire

MARCH 21, 2025

housing market remains challenging for prospective buyers as concerns over mortgage rates , home prices and affordability persist in 2025. With affordability shrinking, buyers are taking more risks to secure homes, according to HomeLight s 2025 Lender Insights & Predictions survey. ADU is a big requirement now.

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Housing Wire

MAY 8, 2024

Home prices trended up in almost all U.S. metro areas during the first quarter of 2024. The national median single-family existing-home price sat at $389,400 during the first quarter of 2024, up 5% compared to one year ago. of their income to mortgage payments, down from 26.1% Households typically allocated 24.2%

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Marketing Buyers Realtors Home Value 526

Appraisal Buzz

JANUARY 23, 2025

ATTOM has released its Year-End 2024 U.S. Home Sales Report , which shows that home sellers made a $122,500 profit on typical sales nationwide in 2024, generating a 53.8% The downward investment-return trend continued despite the median national home price rising 5% to another annual record of $350,000.

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Sellers Investing Housing Market Home Value 395

Housing Wire

APRIL 4, 2024

In the March rate update , we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. The “ expected rate ” is unique to reverse mortgages and is calculated by adding the lender’s margin to the weekly average 10-year constant maturity treasury (CMT).

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Mortgage Home Value Appraisal Development 444

Appraisal Buzz

JANUARY 31, 2025

ATTOM has released its Q4 2024 U.S. Home Equity & Underwater Report , which shows that 47.7% of mortgaged residential properties in the U.S. in Q3 of 2024, and from a recent peak of 49.2% in Q3 of 2024, and from a recent peak of 49.2% Nearly half of all residential mortgage payers in the U.S.

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Market Value Housing Market Mortgage Home Value 334

Appraisal Buzz

DECEMBER 5, 2024

that are more or less vulnerable to declines, based on home affordability, equity, and other measures in the third quarter of 2024. The Q3 patternsderived from gaps in affordability, underwater mortgages, foreclosures, and unemployment trendsrevealed that two-thirds of the 50 counties around the U.S. year-over-year.

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Housing Market Marketing Property Taxes Mortgage 397

Appraisal Buzz

DECEMBER 17, 2024

Manchester, New Hampshire is Zillows most popular city of 2024. The largest city in the state, Manchester has seen growing interest among home shoppers, Zillow says. That has contributed to the average home price jumping 7.3% To determine the most popular markets in 2024, Zillow analyzed housing metrics in cities across the U.S.

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New Listings Home Value Buyers Appraisal 195

Housing Wire

MARCH 5, 2024

The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. Keep in mind that almost all HECMs are adjustable-rate mortgages (ARMs), and so each rate update will concentrate on ARMs.

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Mortgage Insurance Home Value Development 459

Housing Wire

NOVEMBER 28, 2023

The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% Conforming loan limits are increasing at a slower pace, mirroring home prices, overall. The regulator compares home prices year over year and adjusts the limit by the corresponding amount.

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Finance Government Law Home Value 534

Appraisal Buzz

MARCH 3, 2025

Property insurance costs for mortgaged single-family homes rose by a record $276 (+14%) to $2,290 in 2024 with average premiums now up 61% over the past five years. of borrowers switched insurance providers in 2024, up from 9.4% of borrowers switched insurance providers in 2024, up from 9.4%

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Insurance Real Estate Housing Market Mortgage 360

Appraisal Buzz

OCTOBER 30, 2024

A new TransUnion survey has found that many consumers feel their existing mortgage and auto payments are putting a strain on their household finances, as the prospect of falling interest rates has them ready to consider refinancing those loans. They resulted in responses from 1,002 and 1,025 auto and mortgage loan customers, respectively.

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Finance Buyers Mortgage Home Value 393

Appraisal Buzz

NOVEMBER 6, 2024

A new report from the Mortgage Bankers Association’s (MBA) Research Institute for Housing America (RIHA) takes a closer look at the shifting demographics for older Americans over 50 and the impact on the nation’s housing supply. home value is currently $359,892, up 2.7% The report, authored by Gary V. year-over-year.

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Home Value Buyers Mortgage Appraisal 459

Appraisal Buzz

JANUARY 8, 2025

But both buyers and sellers should expect unpredictable mortgage rates. Zillows prediction for local house value rise and the speed at which homes are selling are factors in this hotness rating of the 50 most populated metro areas in the country. Thats the good news. Another strong factor is relative affordability.

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Buyers Sellers Home Value Construction 370

Housing Wire

DECEMBER 13, 2023

While the central bank did not completely rule out the possibility of a rate increase in 2024, that action seems unlikely. by the end of 2024, suggesting three 25 basis points (bps) cuts from current levels. What does this mean for mortgage rates? Mortgage rates should get better.

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Inventory Housing Market Mortgage Law 488

Housing Wire

AUGUST 16, 2024

The number of home purchases by investors rose 3.4% year over year in Q2 2024, the largest increase since Q2 2022, according to a report published Thursday by Redfin. home purchases fell 1.9% during the same period, which Redfin attributed to elevated mortgage rates and home prices. annually in Q2 2024.

Investors 468

Investors Tenants Real Estate Property Taxes 468

Appraisal Buzz

JANUARY 22, 2025

While builders response has kept multifamily rent growth steady for several months and stubbornly high mortgage rates are limiting buyer demand and home value increases, detached single-family home rentals are still rising at an accelerating rate. In the meantime, owned home value growth has leveled out at 2.6%

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Inventory Home Value Tenants Property Management 370

Housing Wire

JUNE 28, 2024

Homeowners 62 and older saw their collective home equity levels rise in the first quarter of 2024 by roughly $328.5 This is according to the Reverse Mortgage Market Index (RMMI), a measure of senior-held home equity maintained by the National Reverse Mortgage Lenders Association (NRMLA) and data analytics firm RiskSpan.

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Transportation Home Value Mortgage Marketing 397

Appraisal Buzz

DECEMBER 30, 2024

Good news: Mortgage rates will likely continue going down in 2025! The Federal Reserve (aka the Fed) lowered the federal funds rate in November, and mortgage rates should continue going down in response to that cut. 1 And lets not forget that mortgage rates have already fallen quite a bit. Will Interest Rates Go Down in 2025?

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Housing Market Marketing Inventory Real Estate 363

Appraisal Buzz

MARCH 20, 2025

Regionally, and month-over-month, existing-home sales were down 2.0% The median existing-home sales price was $398,400 in February, an increase of 3.8% from February 2024. February marked the 20th consecutive month of year-over-year home price increases, NAR says. The inventory of unsold existing homes climbed 5.1%

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Home Value Inventory Buyers Realtors 195

Housing Wire

OCTOBER 18, 2024

As mortgage rates fluctuate based on decreasing housing inventory volume, the appraisal market is more volatile than ever in key areas such as urban and rural communities states like California and Texas. In fact, almost 20% of modern companies are fully remote as of 2024 , according to the U.S. Career Institute.

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Appraisal Process Appraisal Real Estate Inspection 448

Housing Wire

MARCH 20, 2025

In July 2024, a coalition of five federal agencies the Consumer Financial Protection Bureau , the Federal Deposit Insurance Corp. , HUD and FHA handed down new appraisal bias protections in May 2024. These allowed mortgage borrowers to request an ROV if they believe that the appraisal was inaccurate or biased.

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Appraisal Buzz

JUNE 25, 2024

Affordability struggles continue for many nationwide, with mortgage rates reported still in the 7% range and the average U.S. home value at $360,681 , up 4.3% In May 2024, the share of Fannie Mae and Freddie Mac (GSE) loans in forbearance declined one basis point from 0.11% to 0.10%. million borrowers since March 2020.

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Mortgage Home Value Government Real Estate 417

Housing Wire

JUNE 7, 2024

Home equity continued to rise in the first quarter of 2024 as residential properties with mortgages collectively gained $1.5 homeowner with a mortgage added $28,000 in equity during the year ending in March 2024 — the highest year-over-year increase since late 2022. of those with mortgages underwater.”

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