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Dave Stevens on understanding this housing market

Housing Wire

I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. In many ways it was similar to today, with one exception: When I started, I hadn’t been spoiled by a housing market like the one in 2020 and 2021. economy, especially the mortgage and housing sector.

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Working with buyers in the nation’s hottest housing market

Housing Wire

Austin, Texas might be the hottest housing market in the country. In addition to the same demographic factors driving growth elsewhere — all those millennials buying homes — the number of companies relocating there is a huge draw. year-over-year increase in home values. It is just a super tight housing market.

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The nation’s housing market is on a correction course

Housing Wire

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. Freddie Mac projects that home-price growth will average 12.8%

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Build-for-rent is a bet on the ‘new normal’ housing market

Housing Wire

“With many homebuilders feeling the impact of rising mortgage rates on new-home sales, delivering units for rent is expected to continue to become a larger segment of the overall single-family housing market.”. on an annualized basis, according to Fannie Mae , to as much as 20%, according to some market forecasts.

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Fed’s Beige Book predicts further uncertainty for the housing market  

Housing Wire

Interest rates and inflation continued to dampen activity in the housing market across all 12 Federal Reserve districts, according to the Fed’s latest Beige Book. ” In the Dallas district, housing outlooks worsened, with those interviewed expecting “further erosion in sales and home starts in the near term.”

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New listings surge as the spring buying season approaches

Housing Wire

Prospective homebuyers have more options to choose from in the housing market, which could help spur sales this spring. Despite an influx of new listings, the market remains competitive for attractive, well-priced properties. Such homes went under contract typically after 17 days on the market. That’s up 4.2%

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Home equity is the bright gem of the housing market

Housing Wire

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. The Fed report shows HELOC balances nationwide stood at a total of $336 billion at yearend 2022.