Housing Wire

FEBRUARY 24, 2023

January marked a surge of people signing contracts to buy new homes. The increase in contract signings can be attributed to a decline in mortgage rates in January after a run-up in rates in October and November ,” Holden Lewis, NerdWallet ’s home and mortgage expert, said in a statement. months in December.

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Construction Contracts Buyers Development 459

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. September saw a 7.4%

Contracts 418

Contracts Buyers Inventory Mortgage 418

Housing Wire

JANUARY 26, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. The Northeast was the only region to see a decline in contract signings, with a drop of 3% month over month and 3.9%

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Contracts Housing Market Construction Inventory 478

Housing Wire

JANUARY 3, 2023

“Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates , which climbed at one of the fastest paces on record this year, drastically cut into the number of contract signings to buy a home,” Lawrence Yun, NAR’s chief economist, said in a statement. On a month over month basis, all four of the major U.S.

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Contracts Housing Market Realtors Construction 498

Housing Wire

MAY 18, 2022

Census Bureau released their new residential construction report for April, showing a miss on the estimate and a negative revisions data line, which I believe is lagging behind the current market reality. We simply cannot finish homes in America promptly, and now that mortgage rates are over 5%, some buyers won’t be able to purchase a home.

Mortgage 477

Mortgage Construction Contracts Housing Market 477

Housing Wire

OCTOBER 26, 2022

The builders will pull back on construction when the supply is 6.5 When rates rose back in March, there was a considerable risk to the business model with many homes under construction. months of supply is still under construction 2.1 months of homes haven’t even started construction. When supply is 4.4

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Construction Inventory Contracts Buyers 467

Housing Wire

FEBRUARY 26, 2024

It’s not the safest business model either because builders take a contract to buy a home and then, from start to finish, hope that mortgage rates don’t jump on the buyer by the time the home is ready. months , the builders will pause construction. Well, builders are in business to make money, they’re not a charity.

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Construction Business Contracts Marketing 527

Housing Wire

JUNE 23, 2021

A new home sale occurs when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. Supply-side challenges remained a persistent issue, with the count of new homes sold that had not started construction, up 76% over the last year.

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Supply Chain Construction Buyers Development 461

Housing Wire

MARCH 23, 2021

A new home sale occurs when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. A common note among the economists was the mounting costs of building materials. This represents a supply of 4.8 months at the current sales rate.

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Construction Buyers Development Contracts 532

Housing Wire

MARCH 9, 2021

The index plunged from record highs seen in late 2019 after the COVID-19 pandemic resulted in the worst economic contraction since the Great Depression. “Expected home sales growth this year is still likely to be driven by first-time buyers, spurred by millennials reaching peak first-time homebuyer age,” Kan said.

Mortgage 497

Mortgage Government Buyers Contracts 497

Housing Wire

OCTOBER 18, 2021

The report is based on a monthly survey of NAHB members, in which respondents are asked to rate market conditions for the sale of new homes at the present time and in the next six months as well as the traffic of prospective buyers of new homes. This will spur more construction and help ease upward pressure on home prices.”.

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Supply Chain Inventory Buyers Housing Market 521

Housing Wire

JULY 23, 2024

HousingWire Lead Analyst Logan Mohtashami recently wrote that higher mortgage rates “have increased recession risk by targeting the one sector that always falls before every recession: residential construction workers. 1 reason for a buyer pausing their home search efforts over the past six months, while high mortgage rates were the No.

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Mortgage Real Estate Agent Finance Buyers 510

Appraisal Buzz

SEPTEMBER 5, 2024

The panelists also shared that they think speeding up construction permitting processes, increasing density around transit corridors, and allowing more “missing middle’-type housing are the local and state policy reforms likeliest to increase housing production. million homes. A recent study by Redfin found that 85.7% in mid-2022.

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Construction Inventory Housing Market Contracts 459

Housing Wire

MAY 28, 2024

Every state in the country has more homes on the market now than a year ago and, in many places, new construction is being completed and added to inventory, so it’s not just resale inventory that’s growing. No one wants a scenario in which there’s a flood of sellers but no buyers. There were also 68,000 new contracts started this week.

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Inventory New Listings Contracts Sellers 515

Housing Wire

JANUARY 19, 2023

“Housing starts fell again in December, but there are hopeful signs that builders will see a boost in buyer traffic in the coming months and new housing construction may have bottomed,” Lisa Sturtevant, BrightMLS’ chief economist, said in a statement. Builders still have a large backlog of single-family homes under construction.

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Inventory Construction Development Housing Market 404

Appraisal Buzz

NOVEMBER 21, 2024

New homes are an attractive alternative for many buyers as existing inventory is still tight in many markets around the country and a newly constructed home provides additional customization options. This data also provides information regarding the types of loans used by new home buyers.

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Mortgage Buyers Contracts Construction 370

Housing Wire

MARCH 6, 2024

Should mortgage rates fall, demand for residential real estate would increase, encouraging buyers who had been waiting on the sideline to move forward with home purchases,” according to the Beige Book. Many buyers who were waiting for a reprieve in mortgage rates have started to return with the intention of refinancing later.

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Mortgage Real Estate Inventory Construction 380

Housing Wire

JANUARY 19, 2023

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. 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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Inventory Housing Market Marketing Construction 410

Housing Wire

DECEMBER 19, 2022

The NAHB/HMI report is based on a monthly survey of NAHB members, in which respondents are asked to rate both current market conditions for the sale of new homes and expected conditions for the next six months, as well as traffic of prospective buyers of new homes. However, builders can only slash prices so much.

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Contracts Construction Buyers Real Estate 404

Housing Wire

SEPTEMBER 14, 2022

Rapidly rising interest rates and skyrocketing home prices pushed many would-be buyers out of the market and tanked the refinance market,” the MAXEX report states. Contacts attributed the decline in sales to rising mortgage rates, coupled with high price inflation that crimped buyers’ budgets.

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Construction Real Estate Inventory Supply Chain 369

Housing Wire

OCTOBER 18, 2022

The NAHB/ HMI report is based on a monthly survey of NAHB members, in which respondents are asked to rate both current market conditions for the sale of new homes and expected conditions for the next six months, as well as traffic of prospective buyers of new homes.

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Housing Market Buyers Contracts Construction 422

Housing Wire

JUNE 30, 2021

Pending home sales reached its highest mark for the month of May since 2005, up 8% from the previous month of April as low inventory continues driving buyers to snatch up available real estate. “Buyers are still lining up a feverish pace,” Yun said. ” Contract signings on new homes increased 13.1% All four U.S.

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Supply Chain Inventory Buyers Realtors 448

Housing Wire

OCTOBER 21, 2021

The gain in existing home-sales in September reflects contracts signed earlier in the summer,” Mike Fratantoni, MBA SVP and chief economist said in a statement. Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.”. Existing-home sales rose 7.0% from a year ago.

Inventory 430

Inventory Buyers Realtors Contracts 430

Housing Wire

DECEMBER 7, 2020

months, builders will halt the rate of growth for new construction plans as they did in 2018 and again for a brief period this year. months, the builders are ok with construction as long as new home sales grow. 2) Tighten lending standards, so there are fewer buyers that qualify for the existing inventory. If supply goes over 6.5

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Inventory Construction Government Housing Market 543

Housing Wire

OCTOBER 21, 2020

Across the different markets, the agents consistently reported bidding wars amid heightened demand for single-family homes, low inventory and an increase of buyers fleeing big cities. Lovern was actually on maternity leave at that time when open houses and contracts were paused. “In Once COVID-19 caused much of the U.S.

Housing Market 545

Housing Market Marketing Real Estate Agent Real Estate 545

Housing Wire

JUNE 21, 2021

You set your appointments the night before, and when you get there that morning, they might already be under contract.” Generally, they go under contract in a day or two.” “We won’t renegotiate with you, and that seems to help buyers a ton.” It’s like a horse race.

Housing Market 459

Housing Market Marketing Realtors Inventory 459

Housing Wire

FEBRUARY 18, 2022

Buyers were likely anticipating further rate increases and locking in at the low rates, and investors added to overall demand with all-cash offers,” said Lawrence Yun, NAR’s chief economist. Homes went under contract in just 19 days on average, down from 21 a year ago. That translates to just 1.6 “While the 6.7

Supply Chain 435

Supply Chain Inventory Buyers Contracts 435

Housing Wire

SEPTEMBER 7, 2023

However, high home prices and growing affordability challenges are the two factors weighing on prospective home buyers, said Sturtevant. She expects a market contraction this fall in the housing sector.

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Housing Market Mortgage Marketing Contracts 434

Housing Wire

DECEMBER 1, 2022

“Higher interest rates further dented home sales, which declined at a moderate pace overall but fell steeply in some Districts,” the report states, noting that “residential construction slid further at a modest pace” and “home prices grew less rapidly or declined outright amid weak demand.”.

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Housing Market Marketing Construction Inventory 313

Housing Wire

JULY 13, 2024

Here are the price-cut percentages for last week over the previous few years: 2024: 38% 2023: 33% 2022: 33% Pending sales Below is the Altos Research weekly pending contract data year-over-year to show real-time demand. With more sellers who are buyers, we have a tad more demand this year.

Mortgage 499

Mortgage New Listings Inventory Contracts 499

Housing Wire

NOVEMBER 24, 2020

Homes went under contract two weeks faster in September than they did a year earlier, but construction is playing catch-up to feed the frenzy, said Speakman. . “These elevated levels of market competition have been placing upward pressure on prices for months, but home prices have just recently begun to take off in earnest.

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Housing Market Contracts Construction Inventory 525

Appraisal Buzz

OCTOBER 17, 2024

The FHA share of applications was elevated to almost 29%, a sign that first-time buyers are active.” In August and September, the average loan amount for newly constructed residences was $395,935 and $402,658 respectively. New single-family home sales have historically been a leading indication of the U.S. Every month, the U.S.

Mortgage 396

Mortgage Contracts Construction Buyers 396

Housing Wire

JULY 26, 2021

They also had to pay for the brokerage sign outside their home, newspaper advertising, online ads and the brochures for potential buyers. Home buyers like my mother and father outside the U.S. If a showing is to happen, buyers must make appointments with each seller auctioneer to view those homes. An additional $6,400.

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Real Estate Agent Real Estate Sellers Legal 397

Housing Wire

JULY 25, 2022

Homes listed for sale are increasingly seeing asking-price reductions, and both construction and home sales — both existing and new — are slowing.”. Both in New York City and across the metropolitan region, there has been a steady and pronounced decline in signed contracts in both May and June, going against normal seasonal trends. …

Housing Market 418

Housing Market Marketing Supply Chain Real Estate 418

Housing Wire

SEPTEMBER 12, 2023

The point of the editorial seemed to be to scaremonger over government programs to help home buyers and student loan borrowers. So, the author tried to use new construction prices from back in April to describe the whole U.S. Supply of homes for sale is very low, and most of the year we’ve had more buyers than sellers.

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Contracts Inventory Housing Market Buyers 394

Housing Wire

JANUARY 4, 2025

Our weekly pending contract data has shown year-over-year growth for some time now, even with elevated mortgage rates. Weekly pending sales The latest weekly pending contract data from Altos Research offers critical insights into real-time trends in housing demand. Has the spring home-buying season already begun?

New Listings 492

New Listings Inventory Contracts Mortgage 492

Housing Wire

MARCH 29, 2023

Month-over-month, contract signings increased in three U.S. Overall, contract signings were down 21.1% Even though rates ticked up in February, some buyers took the plunge anyway, anxious that mortgage rates would be moving even higher this spring.” In-contract deals rose 0.7% from February 2022. decline from a year ago.

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Contracts Realtors Home Value Housing Market 302