Housing Wire

SEPTEMBER 22, 2021

Lawrence Yun, chief economist at NAR, noted in a statement that existing home sales slipped because of rising prices nationwide. “Although there was a decline in home purchases, potential buyers are out and about searching, but much more measured about their financial limits, and simply waiting for more inventory,” Yun said.

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Appraisal Buzz

DECEMBER 30, 2024

Housing inventory will likely still be low in 2025, and demand could increase. If youre prepared financially, then its a good time to buy a homeeven if inventory is limited and interest rates are high. If youre not financially prepared, its not a good time, even if theres plenty of inventory and rates are down.

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Appraisal Buzz

SEPTEMBER 10, 2024

With mortgage rates on the decline and housing supply ramping up, affordability is on the rise for many, Realtor.com’s latest market analysis found that much anticipated market relief is on the way, and many potential buyers are stepping off the sidelines. home value is presently $362,481, up 3.3% over the past year.

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Appraisal Buzz

JUNE 24, 2024

Even during a period when home values are typically at their lowest, many prospective first-time buyers were unable to reach their long-term financial goal of becoming homeowners in Q1, according to the Q1 2024 First-Time Home Buyer Affordability Report from Nerdwallet. Cleveland (3.0) Buffalo, NY (3.2)

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Housing Wire

JULY 28, 2023

Buyers searching for starter homes in today’s market are on a wild goose chase because in many parts of the country, there’s no such thing as a starter home anymore,” said Redfin Senior Economist Sheharyar Bokhari. Austin buyers must earn $92,000, down 3.3% Austin buyers must earn $92,000, down 3.3%

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Appraisal Buzz

JUNE 20, 2024

home, a buyer making the median income needs to put down nearly $127,750, or 35.4%. Just five years ago, when mortgage rates were hovering just above 4% and the typical home was worth nearly 50% less, that home would have been affordable with no money down. home , currently valued at $360,681, up 4.3%

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Appraisal Buzz

JANUARY 3, 2025

We are once again expecting mortgage rates to get better gradually, and opportunities for buyers should follow, but be prepared for plenty of bumps on that path. The need for buyers to be prepared to relocate when the time comes is further reinforced by recent and erratic decreases in mortgage rates. metro regions. 27.8% -26.3% -13.5%

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Housing Wire

APRIL 15, 2024

Home prices are surging in major U.S. metros, with coastal California cities and Seattle leading the charge in monthly home value growth, according to Zillow’s newest market report. These metros also continue to grapple with below-average inventory recovery, maintaining pressure on buyers.

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Housing Wire

APRIL 7, 2021

Inversely, data from Zillow showed for-sale inventory climb the highest in four major real estate markets – Los Angeles, Chicago, San Francisco, and New York. “The pandemic has catalyzed purchases by millennial first-time buyers, many of whom can now work from anywhere.” and Austin. Presented by: Propertybase.

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Housing Wire

NOVEMBER 22, 2023

The Western pessimism is also unsurprising given the year-over-year declines Western states have seen in home values. Builders reported covering closing costs, offering discounted or free features, helping buyers sell their existing home and providing other incentives. 2019 level. .

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Appraisal Buzz

JANUARY 2, 2025

home values had an annual growth of 3.6%a Lisa Sturtevant, Chief Economist at Bright MLS, also commented on the S&P CoreLogic Case-Shiller Home Price Indexs release and had this to say: The S&P CoreLogic Case-Shiller Home Price Index showed that home prices rose again in October. last month).

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Appraisal Buzz

SEPTEMBER 17, 2024

home value currently stands at $361,282, up 2.9% This analysis shows homeownership may be more within reach than most renters think,” said Zillow Home Loans Senior Economist Orphe Divounguy. For those who can put together a down payment, buying a home in these cities may be the right move. year-over-year.

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Appraisal Buzz

SEPTEMBER 27, 2024

Researchers for LendingTree found home values in the country’s priciest micro politan areas (“towns” for the purposes of their report) rival those in the nation’s largest metros. This means buyers in many towns have to compete for a relatively small number of homes, which puts upward pressure on prices.”

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Appraisal Buzz

AUGUST 19, 2024

The record high in home prices—the median sale price nationally increased by 4% in June—has led to a record high in the percentage of American homes valued at $1 million or more. Even though the inventory has lately increased, many homeowners are locked in by low rates, thus it is still roughly 30% below pre-pandemic levels.

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Cleveland Appraisal Blog

AUGUST 6, 2021

Do you know of anyone who purchased a home within the past year? Below is a chart from the National Association of REALTORS article on home buyer regret. It reflects the results of a survey made by bankrate.com , which reflects the percentage of those who regret their home purchase, and the reasons why. Is this wise?

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Housing Wire

JANUARY 25, 2023

Inventory What does that mean for housing? We can also expect low housing demand, which favors buyers. Until then, home values will slowly decline, most assuredly in high-cost areas and in areas of the country that benefited the most from rampant appreciation during the pandemic. most likely by mid-year.

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Appraisal Buzz

OCTOBER 18, 2024

The housing market remains structurally underbuilt, and homeowners with locked-in low mortgage rates are keeping existing-home inventory limited. home value is $359,892, up 2.7% over the past year, which may further cause affordability issues for potential home buyers.

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Housing Wire

SEPTEMBER 9, 2024

This places Miami among the top-tier real estate markets in the country, attracting both local and international buyers and driving intense competition among real estate agents. This exclusive enclave boasts a median home value of over $10,350,000, making it one of the most expensive ZIP codes in the United States. As of Sept.

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Housing Wire

JULY 29, 2022

The finding was equally confounding on the other side of the distribution where house price growth was weakest; though home values dropped by at least 10% in each of the 10 coldest markets, the number of homes added to the for-sale inventory increased in eight of them. increase to 6.7%

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Housing Wire

DECEMBER 13, 2023

“We’re probably at an inflection point where rates have come down enough that more buyers are coming back into the marketplace,” said Melissa Cohn, regional vice president of William Raveis Mortgage. While mortgage rates are expected to decrease, high home prices combined with low inventory still pose a challenge for potential homebuyers. “We

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Appraisal Buzz

SEPTEMBER 5, 2024

The panel’s latest estimates of national home price growth are higher than last quarter’s expectations of 4.3% Terry Loebs , Founder of Pulsenomics, said: “Despite robust home value growth in the first half of 2024, our panelists anticipate a slowdown in price appreciation for the remainder of the year and beyond. in mid-2022.

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Housing Wire

NOVEMBER 18, 2022

Total housing inventory at the end of October was 1.22 Unsold inventory sits at a 3.3-month Inventory levels are still tight, which is why some homes for sale are still receiving multiple offers,” Yun said. .” Both a pullback in demand and limited supply remain vexing problems for the housing market. ” .”

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Housing Wire

JUNE 10, 2022

His recent article, “Purchase apps are at 2009 level: where’s the inventory?” takes a deep dive into what the heck is going on with purchase applications, housing demand and inventory levels. This article, for example, asks why, if purchase applications are down to 2009 levels, are inventory levels still so freaking low?

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Housing Wire

MAY 25, 2021

Phoenix saw a 20% year-over-year home price increase, followed by San Diego with a 19.1% Home price data is consistent with the hypothesis that COVID-19 has encouraged potential buyers to move from urban apartments to suburban homes,” Lazzara said. increase and Seattle with a 18.3%. Presented by: MCT.

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Housing Wire

MARCH 9, 2021

“Significant gains in home values fueled equity gains from 2019 to January 2021 for homeowners of all races,” the press release stated. In the predominantly Black areas of Chicago, people who bought homes experienced an enormous percentage equity gain of 750% from 2019 to January 2021. Newark and Washington, D.C.

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Housing Wire

SEPTEMBER 11, 2023

The good news for homeowners is that home values in most areas remain stable, and inventory levels for homebuyers are still low. MC: The demand for REO assets remains strong, with inflows and overall REO inventory levels remaining significantly less than post-Q1 2020 inventories.

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Housing Wire

FEBRUARY 6, 2023

Prior to the pandemic, buyers paid closer to 0.5 On the surface, it may seem the market has been stirred by a full point decline in interest rates and home prices coming off their peaks – but it’s not that simple,” Graboske said. points on average, with a corresponding cost of about $1,500, in 2018 through 2020. “On

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Inman

APRIL 15, 2024

Seasonal price growth is highest in San Jose as buyers compete for extremely limited inventory, according to an analysis by Zillow.

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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. Now, suburban dwellers who migrated from urban areas to suburban areas are returning to cities, driving home values up in those areas.

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Appraisal Buzz

OCTOBER 3, 2024

percentage points) Median List Price Per Sq.Ft. : (+2.3 %) (+50.8 %) “Lock-in” Effect Causing Buyers to Stay Put The real estate market has been hampered by the “lock-in” effect for many years now, whereby homeowners, who are tied into a relatively cheap mortgage rate, have been remaining there, having a negative influence on available inventory.

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Appraisal Buzz

JULY 29, 2024

Escalating Home Prices Simultaneously, home prices continue to climb, driven by a persistent supply-demand imbalance. The limited inventory of homes for sale, coupled with strong demand from buyers, has led to increased competition and higher prices. over the past year.

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Housing Wire

JULY 25, 2022

Several leading housing-market economists also are projecting the deceleration in home prices will continue in near the future as homebuyer demand ebbs — with one economist even predicting that prices will decline in some particularly hot markets across the nation. So, home sales have really gotten completely hammered,” Zandi said.

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Housing Wire

MARCH 23, 2022

At the end of February, an estimated 407,000 new homes were still for sale, which at the current sales rate represents a 6.3 Buyers are facing a housing market that looks to be as competitive as ever,” Handy said in a statement. Year over year, all regions saw decreases in new home sales, except for the Northeast which recorded a 7.5%

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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. Home values are forecast to tick up 2.2% million in 2025.

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Housing Market Marketing New Listings Home Value 366

Housing Wire

FEBRUARY 4, 2022

Housing entered 2022 riding high on several superlatives: the highest-ever annual price appreciation, the lowest-ever active inventory and the fastest monthly rise in mortgage rates since 2016. Our forecast is for home values to rise 16% from December 2021 to December 2022.

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Housing Market Inventory Home Value Marketing 353

Housing Wire

JANUARY 16, 2024

This has put a strain on the inventory of three-bedroom-plus homes, making it harder for a millennial to buy one. Although millennials with children own less than 15% of all three-bedroom-plus homes in the country, they make up 42.8%

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Appraisal Buzz

AUGUST 13, 2024

First-time buyers faced even steeper challenges, with affordability worsening due to rising home prices and limited inventory. The monthly mortgage payment for a typical starter home valued at $358,800 with a 10% down payment surged to $2,218, a 10.3% Therefore, the income required to buy a home will decrease.”

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