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Home sellers who didn’t list on the MLS lost $1B in sale proceeds: Zillow

Housing Wire

The company defined privately listed sales as those that were marketed privately and were evidently only submitted to the MLS once a purchase contract was in place. To conduct its study, Zillow analyzed 2.72 million sales transactions, comparing homes that sold on the MLS with privately listed sales.

Sellers 501
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Housing construction looks positive despite recession projections

Housing Wire

Pending home sales, which lead contract signings on average by 30-45 days, declined during that time by 5.2%, pointing to a further sales slowdown in April and May. government on its debt obligations. Existing home sales pulled back in March by 2.4%, in line with Fannie Mae’s expectations, to an annualized pace of 4.40

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Fewer people are submitting mortgage applications

Housing Wire

Tight housing inventory, obstacles to a faster rate of new construction, and rapidly rising home prices continue to hold back purchase activity,” Kan said. “The government purchase index declined to its lowest level in over a year and has now decreased year over year for five straight weeks.

Mortgage 543
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Mortgage applications rise again, despite rates jump

Housing Wire

“Despite the jump in rates, refinances also increased for the second consecutive week, pushed higher by a 4% bump in conventional refinance applications,” Kan said, “Government purchase applications drove most of last week’s increase, which also contributed to a slightly lower overall average purchase loan size.”.

Mortgage 457
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Mortgage credit, and the coming purchase storm

Housing Wire

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. 2%, and the Conventional MCAI that measures loans not backed by the government fell.3%. 7% while the Jumbo MCAI measuring high-balance loans rose.2%,

Mortgage 497
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How to grow housing supply in 2021

Housing Wire

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. Since this is on the government tab, the builders won’t care so much about profit margins being met.

Inventory 545
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Inflation holds at 3.7%. Is it enough to dissuade the Fed from another rate hike?

Housing Wire

If mortgage rates pass 8%, housing market activity will see a contraction, Sturtevant said. Instead of continuing to raise rates, which will only exacerbate the supply constraint, the Fed should wait to allow the impact of record-high levels of new-apartment construction to flow into the rent data,” Sturtevant said.