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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.
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.
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?
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.
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
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.
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.
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.
Although the U.S. housing market may have slowed during the second quarter of the year, investors did not take their foot off the gas. The number of home purchases by investors rose 3.4% year over year in Q2 2024, the largest increase since Q2 2022, according to a report published Thursday by Redfin. In comparison, total U.S. home purchases fell 1.9% during the same period, which Redfin attributed to elevated mortgage rates and home prices.
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.
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.
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.
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
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
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.
In this week’s episode of the Top Of Mind podcast, Altos Research President Mike Simonsen explores the housing affordability and supply crisis facing the U.S. and its major cities. Salim Furth joins Simonsen to share his expert opinions on the current housing crisis and the various factors that impact new development in certain cities. Furth is a research fellow and the director of the Urbanity Project for the Mercatus Center at George Mason University.
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
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
Recession fears are increasing. The stock market has taken substantial hits, housing inventory is climbing, and bank account balances are starting to fall.
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.
Join BPCON 2024 in Cancun for top real estate insights, unmatched networking, and a luxury all-inclusive experience. A must-attend event for investors!
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.
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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.
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