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 377

Buyers Contracts Agents Realtors 377

Housing Wire

MAY 20, 2024

The National Association of Realtors (NAR) proposed settlement of litigation, recently given preliminary approval by the Court, has raised questions about whether buyers with limited resources, especially first-time home buyers , can afford closing costs. Here is an example of how that might work.

Buyers 365

Buyers Agents Counter Offer Sellers 365

Housing Wire

JUNE 25, 2024

A report released Tuesday by the Consumer Federation of America (CFA) found that the California Association of Realtors’ (CAR) buyer representation and broker compensation agreement is “virtually unreadable.” The contrast between the CAR and eXp contracts could not be sharper,” Stephen Brobeck, a CFA senior fellow, said in a statement.

Realtors 375

Realtors Buyers Contracts Realty 375

Housing Wire

OCTOBER 9, 2024

17 , when the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement had to be implemented, most brokers and agents were concerned about how they would disclose a seller’s offer of buyer broker compensation. O’Koniewski said this can sometimes make the buyer’s offer more attractive.

Buyers 428

Buyers Sellers Agents Contracts 428

Housing Wire

AUGUST 22, 2024

“As part of their low-cost selling strategy, sellers using Homie would commonly make an offer of compensation to buyer-brokers that was somewhat below the buyer agent compensation (BAC) offered by sellers represented by traditional brokers, including the Corporate Defendants.

Realtors 482

Realtors Buyers Brokerage Real Estate 482

Housing Wire

JULY 23, 2024

Record-high home prices and elevated mortgage rates are prompting buyers to back out of home purchase agreements at elevated levels. Redfin ’s newest housing market report shows that buyers backed out of 56,000 purchase agreements in June, which constitutes 14.9% of homes that went under contract. of buyers canceled in June.

Buyers 436

Buyers HOA Property Taxes Inspection 436

Housing Wire

DECEMBER 30, 2024

NAR’s Pending Homes Sales Index (PHSI) report is a forward-looking source that predicts home sales based on contract signings. “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 383

Inventory Buyers Housing Market Mortgage 383

Appraisal Buzz

AUGUST 30, 2024

A forward-looking measure of home sales based on contract signings, the Pending Home Sales Index (PHSI) fell to 70.2 The level of contract activity in 2001 is represented by an index of 100. “A Current lower, falling mortgage rates will no doubt bring buyers into market.” Pending transactions decreased by 8.5%

Contracts 312

Contracts Realtors Inventory Buyers 312

Appraisal Buzz

NOVEMBER 22, 2024

Those trends include buyers’ pursuit of “forever dream homes” which, according to agents, offer adaptability to grow and change alongside homeowners’ evolving lifestyles. Conversely, the subsequent contraction of inventory in June was mirrored by a diminished sales volume. A slight increase in luxury home inventory is expected, 59.3%

Buyers 417

Buyers Luxury Properties Marketing Inventory 417

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 514

Buyers Agents Mortgage Real Estate Agent 514

Housing Wire

AUGUST 29, 2024

Many state Realtor associations’ new forms —such as buyer representation agreements—are largely incomprehensible to the average homebuyer or seller and have language that seeks to avoid the terms of the National Association of Realtors ‘ (NAR) nationwide commission lawsuit settlement agreement , according to a report released earlier this month.

Buyers 406

Buyers Realtors Agents Sellers 406

Housing Wire

JULY 22, 2024

will be significant enough move in rates to move the needle for buyers. There were another 15,000 new listings that are already in contract, which is very low for immediate sales recently. 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.

Buyers 442

Buyers Inventory New Listings Sellers 442

Housing Wire

AUGUST 26, 2024

Even as pending sales of starter homes across the nation’s 50 largest metro areas grew on a yearly basis in July, the number of homes going under contract in other price tiers backtracked. We are seeing a lot of younger buyers looking at smaller starter homes. Sale prices for starter homes rose 4.2% growth for middle-priced homes.

Buyers 430

Buyers Inventory Marketing Contracts 430

Appraisal Buzz

JUNE 20, 2024

Buyers are also avoiding earlier stages of the house-hunting process. Buyers are retreating primarily due to high home costs. Another explanation for the drop in pending sales is a scarcity of new, desirable listings for buyers to select from. During the four weeks ended June 16, pending home sales declined 3.8%

Buyers 397

Buyers New Listings Sellers Mortgage 397

Housing Wire

JANUARY 25, 2023

As mortgage rates continue to decline, Chad Earnest’s mantra with his referral partners in 2023 is “no buyer left behind.” Homebuying activity remains tepid, but if rates continue to fall and home prices cool further, we expect to see potential buyers come back into the market.

Buyers 493

Buyers Mortgage Real Estate Agent Contracts 493

Housing Wire

NOVEMBER 20, 2023

Real estate agents are facing a contracting issue that could seriously upend the traditional housing landscape. Under current guidelines, sellers pay a 5-6% commission on a sale which is split between the buyer and listing agents. But what happens if consumers pivot away from buyer agents altogether? Enter the savvy seller.

Buyers 412

Buyers Agents Real Estate Agent Loan Officers 412

Housing Wire

DECEMBER 30, 2024

There are a few markets in the South where home prices have inched down recently and every bit helps buyers but those prices have not adjusted much, and theres no sign of any major correction in the works. Inventory continues to contract There are now 651,000 single-family homes unsold on the market across the U.S.

Housing Market 543

Housing Market Marketing New Listings Inventory 543

Housing Wire

FEBRUARY 12, 2024

There were 66,000 new listings this week, of which 14,000 are already in contract. 14,000 of those new listings are already in contract. Immediate sales If sellers are growing we need to know if buyers are growing too. Of the 66,000 new listings this week, 14,000 of those are already in contract.

Sellers 385

Sellers Housing Market Buyers New Listings 385

Housing Wire

MARCH 14, 2024

No matter where you are in the state, real estate agents in Virginia are facing low inventory conditions that are creating frustrating scenarios for their buyers. “I I have buyers that are looking, but to find a house that you love enough to pay a high price for — and to be at over a 6.5% In Wise County , there were only 56 listings.

Inventory 405

Inventory Buyers Agents Real Estate 405

Appraisal Buzz

JULY 23, 2024

of all homes under contract, being canceled in that month alone. Buyers are getting more and more selective,” said Julie Zubiate, a Redfin Premier real estate agent in the San Francisco Bay Area. of the residences that were under contract in that month. of homes that went under contract. of homes that went under contract.

Buyers 396

Buyers Contracts HOA Property Taxes 396

Appraisal Buzz

JUNE 12, 2024

Home sellers are returning to the market, but buyers are hesitant, according to a recent Zillow market report. In May, new property listings exceeded sales, allowing buyer competition and price rise to slow—and more price relief is expected. However, buyers aren’t matching sellers’ enthusiasm; sales in May were 6% lower than last year.

Sellers 397

Sellers Buyers New Listings Home Value 397

Housing Wire

JANUARY 23, 2024

For what felt like a moment in time, buyers enjoyed the luxury of being incredibly picky, carefully selecting what felt like their dream homes in a market that had shifted towards more favorable conditions. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

Real Estate Agent 437

Real Estate Agent Real Estate Buyers Agents 437

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 431

Construction Buyers Agents Marketing 431

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 436

Sellers Buyers Agents Law 436

Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. of homes that went under contract that month, according to a new report from Redfin. A lot of sellers are also willing to let buyers slip away because they don’t want to concede to repair requests,” Morre said.

Buyers 424

Buyers Mortgage New Listings Real Estate 424

Appraisal Buzz

DECEMBER 30, 2024

Year-over-year, contract signings increased in all four U.S. 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, said First American Deputy Chief Economist Odeta Kushi. in November.

Contracts 435

Contracts Inventory Buyers Sellers 435

Real Estate News

JULY 24, 2024

Upward of 56,000 home purchase contracts — nearly 15% of all such contracts from June — were canceled, a new report found, largely due to affordability issues.

Contracts 334

Contracts Buyers Marketing 334

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

AUGUST 13, 2024

As more brokerages and agents contemplate moving away from a cooperative compensation model , many are grappling with some tough questions, the most vexing probably being: What do I do if a seller is only willing to contribute part of the buyer broker’s fees, or none at all? You have to make sure you are on the same page.”

Clients 449

Clients Agents Buyers Sellers 449

Housing Wire

APRIL 1, 2024

Pending sales Last week saw 69,000 new contracts for single-family home purchases across the country. That brings us to 367,000 single-family homes in the contract pending stage. NAR reported 33% all cash buyers, which is the most since 2014 when buyers were still cleaning up distressed properties. Why the difference?

Inventory 487

Inventory New Listings Contracts Sellers 487

Appraisal Buzz

JULY 31, 2024

The rise in housing inventory is beginning to lead to more contract signings,” said Lawrence Yun, NAR Chief Economist. Multiple offers are less intense, and buyers are in a more favorable position.” A measure of prospective home sales based on contract signings, the Pending Home Sales Index (PHSI) increased to 74.3

Contracts 397

Contracts Inventory Buyers Housing Market 397

Housing Wire

JANUARY 2, 2024

Inventory is slowly but steadily increasing over last year, which means slightly more options for buyers this spring. We have more homes going into contract each week now than we did a year ago — supply and demand are climbing together. There are now 258,000 single family homes in contract. Sales rates are climbing.

Housing Market 530

Housing Market Marketing Inventory Contracts 530

Housing Wire

DECEMBER 19, 2023

Rates are falling now and if that continues, buyers will jump and inventory will fall well into the first quarter of 2024. These sellers have been matched by an increase in buyers, too, so there were 10% more immediate sales than last year. Contracts growing We continue to see the new contracts grow each week: There were 7.7%

Sellers 456

Sellers Marketing Inventory Contracts 456

Housing Wire

SEPTEMBER 9, 2024

Let’s look at how these dynamics will impact home sales , prices, and buyer opportunities for the rest of the year and into the first quarter. For every two homes going into contract each week, there’s a third withdrawn for lack of an offer. With another 12,000 new listings that are already in contract.

Sellers 465

Sellers Inventory Contracts New Listings 465

Housing Wire

OCTOBER 28, 2022

An index of 100 is equal to the level of contract activity in 2001. The Federal Reserve has had to drastically raise interest rates to quell inflation, which has resulted in far fewer buyers and even fewer sellers.”. Only when inflation is tamed will mortgage rates retreat and boost home purchasing power for buyers.”.

Contracts 515

Contracts New Listings Realtors Housing Market 515

Housing Wire

SEPTEMBER 7, 2023

Rising mortgage rates mean rising inventory as home buyer demand slows quickly. Mortgage rates have been rising, making homes more expensive to buyers and obviously slowing demand. This is an effective illustration of the impact this year’s higher mortgage rates are having on home buyer demand. Mortgage rates peaked at 7.5%

Contracts 437

Contracts Inventory Buyers New Listings 437

Housing Wire

MARCH 13, 2024

The DOJ argued that changes similar to those proposed in the settlement agreement — including the lowering of the required compensation amount to $0 or abandoning the requirement for listing brokers to make a blanket offer of compensation to the buyer’s broker in order to list on the MLS — have done nothing to decrease agent commissions.

Contracts 423

Contracts Legal Sellers Buyers 423