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. All told, these signs position 2024 for a turnaround from one of the slowest home-sale years in decades. Looking ahead at 2024 inventory, rising rates creates more inventory. housing market in 2024.

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Housing Wire

JANUARY 6, 2024

I believe we should get more sellers in 2024 than in 2023, but that doesn’t necessarily mean home prices will fall. Here are the year-over-year price-cut percentages from the first week of the year: 2024 32.8% However, one key for 2024 is finding the seasonal bottom in housing inventory sooner rather than later.

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Housing Wire

FEBRUARY 4, 2024

How will mortgage rates impact seasonal inventory in 2024? It’s not what I wanted to see in 2024, but I have to be realistic since we are already in February. Weekly housing inventory data One substantial positive story for 2024 is that we have more housing inventory year over year. But at least it’s positive!

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Housing Wire

DECEMBER 13, 2023

Among all the experts’ forecasts for 2024, there is no number more tightly watched than mortgage rates, as those rates will undoubtedly impact sales, prices and construction as well. Mortgage rates The experts unanimously foresee lower mortgage rates in 2024, although none expect rates to fall below 6%. million to 5.07

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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%

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Housing Wire

SEPTEMBER 22, 2024

Have we seen the bottom in mortgage rates for 2024 after a crazy roller coaster ride so far this year? My 2024 forecast had a mortgage rate range of 7.25%-5.75%. With the 10-year yield at 3.74% as of Friday, we have some room left to reach the very bottom of the 2024 forecast before the year is out.

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Appraisal Buzz

JUNE 14, 2024

Sales are sluggish because high homebuying costs are making both house hunters and prospective sellers skittish. Even though homes are selling for higher prices than ever before, many sellers are still having to drop their list prices after putting their properties on the market—one positive sign for potential homebuyers. Ongoing U.S.

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Housing Wire

JULY 12, 2024

A survey of mortgage default servicing leaders revealed that foreclosures are expected to rise slowly during the second half of 2024, while ample amounts of home equity should keep many properties in loss mitigation from moving into foreclosure status. Respondents expected the U.S.

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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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Housing Wire

AUGUST 1, 2024

But it will be their sellers who make the decision on an offer of compensation to a buyer broker. In the agreement, sellers have the option to choose to pay their listing broker an exact dollar amount, a percentage of the gross purchase price of the property or an undefined “Other.”

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Housing Wire

NOVEMBER 27, 2023

A few more sellers appear to be braving the market each week. There’s nothing bullish on the horizon for home prices in 2024. Inventory hit 566,000 homes on the market, meaning there are 0.5% more homes for sale now than last year at this time. New listings volume is up, too. Run a free Altos market report for your area.

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Housing Wire

JULY 1, 2024

HousingWire is excited to announce the winners of the 2024 Women of Influence award, recognizing 100 women who are shaping and propelling the housing economy forward with their impressive achievements. This year marks the 15th year of this award program. Congratulations to this year’s honorees!

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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. The post ‘Pain-Free’ Cities for Buying a Home in 2024 first appeared on The MortgagePoint. The post ‘Pain-Free’ Cities for Buying a Home in 2024 appeared first on Appraisal Buzz.

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Appraisal Buzz

NOVEMBER 13, 2024

More than half of home buyers (52%) negotiated with the seller, with 94% of those who did achieving success. About 34% of buyers paid below the asking price in 2024—up from 27% in 2022, when the market was more favorable to sellers. Click here to access Clever Real Estate’s report, “ The True Cost of Buying a Home in 2024.”

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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. These cuts will allow mortgage rates to fall faster throughout 2024. in 2025, indicating four more 25 bps cuts. “The

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Appraisal Buzz

AUGUST 9, 2024

By the end of 2024, developers plan to have completed an astounding 518,108 rental units, a startling 30% more than in 2022 and 9% more than in 2023. Furthermore, 2024 will mark the first time in the history of apartment building in the U.S. More specifically, with 32,935 additional rental units anticipated by the end of December 2024.

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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! However, there are two big trends that stand out as we launch into 2025 affordability and sellers in the market. The other trend to watch is whether we finally have more sellers entering the market in 2025.

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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. Many nosy neighbors end up turning into sellers, and hosting open houses is a fantastic opportunity to showcase your marketing skills.

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Housing Wire

JANUARY 2, 2024

Whitney referred to this trend as a “python” that could begin coming to fruition in the latter half of 2024, which could then persist “for the next several years,” she explained. “[T]hat, Last October, FHA introduced a proposed seller credit for the H4P program.

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Housing Wire

DECEMBER 27, 2024

Redfin considers four to five months of supply as balanced, with a lower number suggesting ideal sellers market conditions. Months of supply sat at a healthy four months, up 0.6 points year over year. Days on the market increased by six days year-over-year to 45 days, indicating a less competitive market.

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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!

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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. But, 2024 is starting stronger than last year. Could the housing market change and slow again in 2024? Sellers are coming back There are 499,000 single-family homes unsold on the market now.

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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. The only way inventory would grow in 2024 is if mortgage rates climbed. More sellers generally will allow for more sales in 2024.

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Housing Wire

SEPTEMBER 23, 2024

Seller repurchases of Freddie Mac mortgages rose by $430 million in the second quarter of 2024, a 29.1% By contrast, sellers of loans through fellow government-sponsored enterprise (GSE) Fannie Mae repurchased $268.5 decline from Q1 2024. decline from Q1 2024. Overall, buybacks dropped by 0.8%.

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Housing Wire

MAY 3, 2024

17, 2024, according to a letter sent to members on Friday by NAR chief legal officer Katie Johnson. 16, 2024, to implement policy changes and be considered as released parties, although Johnson and NAR recommend that all of the MLSs that choose to opt in should implement them by Aug.

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Housing Wire

JULY 20, 2024

We finally have six weeks of numbers that hit my housing inventory growth model perfectly in 2024. Last year, with higher mortgage rates , we had zero weeks at this level so I am now giving 2024 inventory growth a grade of A. Yes, home prices are still rising in 2024, but the pace is significantly slower than in 2020 and 2021.

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Housing Wire

JUNE 14, 2024

home sales, with Redfin reporting Friday that sales in May 2024 dropped to one one of the lowest levels of the past decade. Data continues to reflect seller-friendly market conditions as the median sale price reached another record high of $439,716 — up 5.1% during the year ending in May 2024. That was down 1.7% year over year.

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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. The current data for housing supply and demand, all the leading indicators for 2024 indicate that the affordability crisis is unlikely to improve this year. The sales are growing in 2024.

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Appraisal Buzz

NOVEMBER 22, 2024

Demand for “have-it-all” properties and the “forever dream home” will shape this spring’s luxury housing market, according to the Coldwell Banker Global Luxury 2024 Mid-Year Trend Report , which forecasts growing optimism among affluent consumers and an influx of desirable inventory. Among specialists, 32.8% elections. “A

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Housing Wire

JUNE 13, 2024

Agents who are members of My State MLS will be able to enter their seller’s address into the MLS system, and after answering a few questions, receive a preliminary cash-offer estimate from Opendoor to review with their client. If the seller chooses to pursue Opendoor’s offer, they will then be directed to Opendoor to continue the process.

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Housing Wire

JUNE 15, 2024

Once mortgage rates began rising in 2024, some demand was removed. As shown below, the year-to-date data isn’t even positive for 2024: we’ve had seven positive prints, 13 negative prints, and two flat prints. As most sellers are buyers, seeing more sellers listing their homes has been good.

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Housing Wire

MARCH 4, 2024

At HousingWire , we have a debate about whether home sellers will freeze up again this year as mortgage rates stay stubbornly high. We’ve had seller growth for 18 weeks in a row. More sellers means more sales. Will sellers retreat entirely, like they did last year? But will rates deter sellers also?

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Housing Wire

JANUARY 13, 2024

So let’s hope for more home sellers in 2024. This is the price-cut percentage for the same week over the last few years: 2024 32.2% New listing data New listings data can grow in 2024, something I talked about on CNBC last year as this data line didn’t trend much lower when mortgage rates were heading toward 8%.

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Housing Wire

DECEMBER 9, 2024

Lets take a look at the data as were now in December 2024. Supply growth could also come from more sellers, such as investors or distressed borrowers unloading. However, in most of the country, we have no growth from the seller side. Weve been averaging about 8% more sellers each week than a year ago.

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Housing Wire

OCTOBER 28, 2024

While Monestier, who reportedly sold her Rhode Island home in 2022 and is part of the affected class, believes sellers were paying “inflated commissions,” she feels that prior to the settlement changes going into effect, the rules governing the industry were “clear and confusion did not reign supreme.”

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Appraisal Buzz

OCTOBER 3, 2024

Following the Federal Reserve ‘s 50 basis point reduction in the jumbo rate in September, mortgage rates significant fell to a 24-month low, prompting sellers to move. The Realtor.com 2024 September Housing Report states that actively listed properties increased by 34.0%, while newly listed homes increased by 11.6% fall in August 2024.

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Housing Wire

MAY 28, 2024

No one wants a scenario in which there’s a flood of sellers but no buyers. real estate market at the end of May 2024. Inventory will peak in late summer and is expected to end 2024 with about 620,000 single-family homes on the market, which would be about 20% more than the year prior. There just aren’t enough sellers yet.

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