Housing Wire

AUGUST 16, 2024

One key data line that is flagging a path to recession is the loss of residential construction workers. The number of workers who build single-family and multifamily homes and do remodeling work tend to decline before every recession as higher interest rates dispositionally impact the economy through housing. While the unemployment rate has increased recently , jobless claims have yet to rise to a level that warrants a job-loss recession.

Construction 535

Construction New Listings Inventory Finance 535

Appraisal Buzz

AUGUST 16, 2024

Kahane & Associates PA Founder and Managing Partner Robert S. Kahane Esq. This piece originally appeared in the August 2024 edition of MortgagePoint magazine, online now. Kahane & Associates PA is a full-service law firm based in Sunrise, Florida, that represents secured and unsecured creditors and provides a full range of legal industry, from foreclosure and bankruptcy representation to litigation, evictions, collections, loss mitigation, and REO closings.

Legal 396

Legal Law Clients Technology 396

Housing Wire

AUGUST 16, 2024

In my work, I talk with many seniors. Many are reluctant to leave their homes even when those homes are no longer suitable for their needs. Sometimes, the concern is emotional, but more often than not, it’s financial. What happens if they sell their current home but can’t cover the costs of a new place, especially in a market characterized by record-high home prices?

Buyers 482

Buyers Mortgage Tools Real Estate 482

Appraisal Buzz

AUGUST 16, 2024

Investor activity in the U.S. housing market saw a significant uptick in the second quarter of 2024, with purchases rising 3.4% year-over-year—the largest increase since mid-2022, according to a new report by Redfin, a real estate brokerage. Investors bought approximately one out of every six homes sold in the quarter, representing $43 billion in transactions, marking a 13.7% increase from a year earlier.

Investors 370

Investors Property Taxes Housing Market Real Estate 370

Housing Wire

AUGUST 16, 2024

Housing completions were yet again the only bright spot in housing starts data released Friday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD). In July, privately owned housing starts were at a seasonally adjusted annual rate of 1.238 million units, down 6.8% from June and down 16% compared to a year ago.

Construction 478

Construction Inventory Development Marketing 478

Appraisal Buzz

AUGUST 16, 2024

According to the Mortgage Bankers Association’s (MBA) National Delinquency Survey , the delinquency rate for mortgage loans on one-to-four-unit residential buildings grew to a seasonally adjusted rate of 3.97% of all loans outstanding at the end of the second quarter of 2024. “Mortgage delinquencies increased across all product types compared to this time last year,” said Marina Walsh, CMB, MBA’s VP of Industry Analysis.

Mortgage 338

Mortgage Appraisal 338

Real Estate News

AUGUST 16, 2024

This week’s Mega Agent Camp was part pep rally, part confidence booster during a time of change. “I don’t fear for real estate agents…the good ones will adapt.

Real Estate Agent 290

Real Estate Agent Real Estate Agents 290

Housing Wire

AUGUST 16, 2024

The co-founders of Ribbon want to bring artificial intelligence to home transactions. Shaival Shah and Wei Gan launched a new startup this week called Indigo , which uses AI to run advanced search portals. The Indigo transaction platform automates and streamlines communications, bidding processes and negotiations for buying and selling a home. The founders intend the platform to provide transparency to a market upended by the settlement of antitrust lawsuits by the National Association of Realto

Real Estate 467

Real Estate Real Estate Agent Contracts Brokerage 467

Real Estate News

AUGUST 16, 2024

Consolidation has slowed, and data sharing is on the rise. Some members fear more competition for listings, but for MLSs, it’s “an expansion-based opportunity.

279

279

Housing Wire

AUGUST 16, 2024

When mortgage rates logged their sharpest decline of the year last week following an underwhelming jobs report, data showed that refinance demand surged. Despite what seems like welcome news for loan originators, who have suffered through thinning margins for two years, refinance business has yet to go up much , LOs told HousingWire. “I was going through my newsletters last week to Realtors and told them to watch for the headlines,” said Geoff Black, senior loan originator at Guild Mortgage.

Business 466

Business Loan Officers Mortgage Buyers 466

Appraisal Buzz

AUGUST 16, 2024

Housing starts slumped 6.8% in July compared with June and were down 16.0% compared with July 2023, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Starts of both single-family and multifamily homes fell to a seasonally adjusted annual rate of 1.238 million. Starts of single-family homes in July were at a rate of 851,000, a decrease of 14.1% compared with June.

Mortgage 195

Mortgage Development Appraisal 195

Housing Wire

AUGUST 16, 2024

With the deadline for the business practice changes outlined in National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement just days away , the trade group’s interim CEO sat down for a conversation with James Dwiggins and Keith Robinson, the CEO and CSO of NextHome , on the duo’s podcast Real Estate Insiders Unfiltered podcast.

Real Estate 448

Real Estate Realtors Business Finance 448

Appraisal Buzz

AUGUST 16, 2024

Applications for mortgages for new home purchases increased 9% in July compared the June and were up 9.4% compared with July 2023, according to the Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS). The increase follows a month-over-month decrease of 16% in June. “Purchase applications for newly built homes increased 9 percent in July helped by sustained demand for new homes and declining mortgage rates,” says Joel Kan, vice president and deputy chief economist for the MBA, i

Buyers 195

Buyers Housing Market Mortgage Appraisal 195

Housing Wire

AUGUST 16, 2024

Compass CEO Robert Reffkin wants to achieve a 30% market share in 30 major U.S. cities. A new acquisition will get it closer to that goal in Austin. The eight-person Prospect Real Estate Team is taking its talents to Compass, adding a group that’s produced $1.21 billion in sales since 2018. “Our team operates as a boutique group with a strong commitment to honesty, integrity, and making our clients’ days brighter with a touch of fun and a smile,” Denise Bodman, the group’s co-principal, sa

Real Estate 446

Real Estate Clients Brokerage Development 446

Appraisal Buzz

AUGUST 16, 2024

A total of 31,929 properties in the U.S. have foreclosure filings, including default notifications, scheduled auctions, or bank repossessions, according to ATTOM’s July 2024 U.S. Foreclosure Market Report. This represents a rise of 15% from the previous month and a marginal increase of 0.2% from the same time last year. According to ATTOM’s most recent survey of foreclosure activity, in July 2024, one in every 4,414 housing units nationwide had a foreclosure filing.

Appraisal 195

Appraisal Marketing 195

Housing Wire

AUGUST 16, 2024

As discussed in previous reverse mortgage rate updates , the federally insured Home Equity Conversion Mortgage ( HECM ) is the dominant reverse mortgage in America. As a result, HECM has become synonymous with reverse mortgages. But did you know that nearly all HECMs originated today are variable-rate loans? This is in stark contrast to the traditional forward mortgage business, which is dominated by fixed-rate products.

Mortgage 445

Mortgage Insurance Lending Finance 445

Inman

AUGUST 16, 2024

A record 8.5 percent of all U.S. homes are worth $1 million or more, up from 7.6 percent last year and 4 percent before the pandemic, according to a new Redfin analysis. California is adding them faster than other states.

Inventory 193

Inventory Marketing Mortgage 193

Eyes on Housing

AUGUST 16, 2024

Year-over-year gains for townhouse construction continued during the second quarter 2024 as demand for medium-density housing continues to be solid despite slowing for other sectors of the building industry. According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during the second quarter of 2024, single-family attached starts totaled.

Construction 174

Construction Design 174

Inman

AUGUST 16, 2024

A number of unique software products have emerged in 2024, which is proving to be a pivotal year for the industry. From AI search to AI sales coaching, a number of innovators have the chance to make waves before the year is out.

Technology 187

Technology Real Estate Brokerage Agents 187

Eyes on Housing

AUGUST 16, 2024

High interest rates for construction and development loans as well as ongoing challenges regarding labor shortages and higher prices for many building materials continued to slow the building market this summer. Overall housing starts decreased 6.8% in July to a seasonally adjusted annual rate of 1.24 million units, according to a report from the U.S.

Construction 97

Construction Development Marketing 97

Inman

AUGUST 16, 2024

Beginning Saturday, new rules around commissions take effect, paving the way for the biggest shift in real estate in at least a generation. It's a brave new world, and it begins this weekend.

Real Estate 183

Real Estate Realty Realtors Brokerage 183

BiggerPockets

AUGUST 16, 2024

Inspections are important because you need to know what you're getting into, but they're equally important for the negotiations that can occur after.

Investors 93

Investors Inspection 93

Inman

AUGUST 16, 2024

Mastering a niche makes you more valuable in the eyes of consumers, senior real estate expert Nikki Buckelew writes, and it will make selling real estate a far more interesting and enjoyable career.

Clients 183

Clients Real Estate Real Estate Agent Brokerage 183

BiggerPockets

AUGUST 16, 2024

Recession fears are increasing. The stock market has taken substantial hits, housing inventory is climbing, and bank account balances are starting to fall.

Housing Market 92

Housing Market Marketing Inventory Real Estate 92

Inman

AUGUST 16, 2024

Luxury auction expert Chad Roffers shares why luxury branded residences are becoming the latest way for high-end brands to bring their touch to every aspect of the luxe life.

Real Estate 183

Real Estate Brokerage Agents Marketing 183

BiggerPockets

AUGUST 16, 2024

Join BPCON 2024 in Cancun for top real estate insights, unmatched networking, and a luxury all-inclusive experience. A must-attend event for investors!

Real Estate 92

Real Estate Investors Development 92

Inman

AUGUST 16, 2024

In an exclusive interview with Inman, Highnote founder and CEO Mark Choey unveiled his company's latest products aimed at helping agents "win buyers" in a post-settlement world.

Buyers 178

Buyers Agents Technology 178

BiggerPockets

AUGUST 16, 2024

As a new investor, a strong real estate team is crucial to your success—especially when you’re looking to land your first deal, complete your first rehab project, or invest out-of-state.

Real Estate 89

Real Estate Investors Marketing Investing 89

Inman

AUGUST 16, 2024

The fraudster who once self-identified as "the one who creates trouble" has been unmasked by the Department of Justice as 53-year-old Lisa Jeanine Findley. Prosecutors said Findley has gone by several aliases over the years.

178

178

Mortgagebroker News

AUGUST 16, 2024

Does this signal a significant financial strain?

Mortgage 86

Mortgage 86

Inman

AUGUST 16, 2024

Renovations don't just apply to your home, the Better Homes and Gardens Real Estate president writes. They can also apply to your professiona and personal endeavors.

Renovations 176

Renovations Real Estate Brokerage Agents 176

Mortgagebroker News

AUGUST 16, 2024

Approval follows requests from the landlords to account for the high mortgage rates they're facing

Landlords 83

Landlords Mortgage 83

Inman

AUGUST 16, 2024

Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers.

Brokerage 172

Brokerage Agents 172

Mortgagebroker News

AUGUST 16, 2024

Rate cuts likely to spur market revival, says association

Marketing 83

Marketing Mortgage 83