Housing Wire
JUNE 27, 2024
After rising in March , pending home sales continued to slide in May, with the Pending Home Sales Index (PHSI) posting its second consecutive month of declines to reach a record low, according to data released Thursday by the National Association of Realtors (NAR). The PHSI fell 2.1% from April to a reading of 70.8 in May, which was down 6.6% on a yearly basis.
Appraisal Buzz
JUNE 27, 2024
May saw a 2.1% decline in pending home sales, according to the National Association of REALTORS. While the Northeast and West saw advances in transactions each month, the Midwest and South reported losses. Per the report, every U.S. region had decreases over the previous year. Indicator of prospective home sales based on contract signings, the Pending Home Sales Index (PHSI) dropped to 70.8 in May.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Housing Wire
JUNE 27, 2024
In a statement released Wednesday night, REcolorado warned Denver-area Realtors that outside ownership of the local MLS could bring added uncertainty during an already uncertain time and suggested that their data could be compromised. The company’s statement says it supports the effort to decouple the local MLS from the two local Realtor associations that own it — Denver Metro Association of Realtors (DMAR) and the South Metro Denver Realtor Association (SMDRA).
Appraisal Buzz
JUNE 27, 2024
According to a new Redfin study , the average U.S. home that sold in the four weeks ending June 23 went for 0.3% less than what was asked for. Since the start of the epidemic in 2020, when the housing market all but collapsed, this is the first year that the average home has sold for less than list price during this time of year. A year ago, the average home sold for exactly what was listed, and two years ago, it sold for about 2% more than what was listed.
Advertiser: Trellis
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 Wire
JUNE 27, 2024
The median monthly payment for purchase mortgage applicants decreased to $2,219 in May, down 1.6% from the prior month , according to data released Thursday by the Mortgage Bankers Association (MBA). ”Homebuyer affordability conditions improved in May as slightly lower mortgage rates and an uptick in housing inventory slightly eased the recent rise in application payment amounts,” Edward Seiler, MBA’s associate vice president of housing economics, said in a statement.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
JUNE 27, 2024
The great state of Texas may not be the first place that comes to mind when it comes to buying waterfront real estate, but a little town near Austin has been judged as the best one for it. That’s according to a new study from Virtual Staging AI , which named Lakeway, Texas, as the best location in the country for buying a waterfront home. Lakeway sits just west of Austin in the Hill Country and rests next to Lake Travis.
Appraisal Buzz
JUNE 27, 2024
The Federal Housing Finance Agency (FHFA) has announced the inaugural members of its Advisory Committee on Affordable, Equitable, and Sustainable Housing, a group that will provide non-binding advice to the FHFA on how its regulated entities (Fannie Mae, Freddie Mac, and the Federal Home Loan Banks) can best serve as a reliable and responsible source of liquidity and funding for housing finance and community investment, including both single-family and multifamily housing.
Housing Wire
JUNE 27, 2024
Tal and Oren Alexander have taken leaves of absence from Official Partners , the Side-brokered firm they co-founded, after the brothers were accused of sexual assault in separate lawsuits. The New York Times first reported Tal Alexander’s leave of absence from Official on Tuesday. This came two weeks after his younger brother, Oren, took his own leave of absence.
Appraisal Buzz
JUNE 27, 2024
According to credit bureau TransUnion’s Q2 2024 Consumer Pulse study, consumer concerns about inflation and interest rates reached their highest levels in two years despite the fact that 55% of Americans remain optimistic about their household finances over the next year. This number has stayed the same year-over-year from 2022 and 57% in 2023. This optimism seems largely driven by confidence in a stable employment situation and continued wage increases.
Speaker: Dylan Secrest
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.
Housing Wire
JUNE 27, 2024
Dominion Financial Services , a Baltimore -based private lender with products tailored to real estate investors , has launched a third-party origination program for mortgage brokers, according to an announcement on Thursday. “This marks a significant milestone in the company’s commitment to expanding its reach and fostering partnerships within the real estate investment industry,“ the company said in its announcement.
Real Estate News
JUNE 27, 2024
While interest rates continue to edge down, sales have not picked up heading into summer: “This will take many years to work itself out.
Housing Wire
JUNE 27, 2024
In the constantly evolving real estate landscape, Multiple Listing Services (MLSs) today face a significant challenge: agent attrition. As interest rates have remained comparatively high and property prices have soared, the for-sale market has stalled, resulting in many agents now selling only a few properties a year. Nearly half (approximately 49 percent) of about 2,000 real estate agents surveyed by the Consumer Federation of America sold fewer than two homes last year.
Real Estate News
JUNE 27, 2024
A statement from REcolorado says its potential sale to a private equity firm is not the best way to separate MLSs from Realtor association ownership.
Advertiser: Trellis
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.
Housing Wire
JUNE 27, 2024
Global credit rating agency DBRS Morningstar this week assigned a “good” rating to Longbridge Financial , reconfirming the ranking the company first achieved in 2021. The rating is officially classified as “MOR RVO2” by Morningstar. The agency noted that in 2023, Longbridge acquired or originated more than 6,500 reverse mortgages for more than $1.1 billion in volume.
Real Estate News
JUNE 27, 2024
The Consumer Federation of America blasted C.A.R.’s agreement but praised eXp’s contract. A CFA Fellow told Real Estate News he was “stunned” by the contrast.
Housing Wire
JUNE 27, 2024
Mortgage data provider Optimal Blue this week announced the launch of Competitive Data License, a product that is designed to help lenders price loans accurately and drive profitability. In its announcement, the Texas -based company described the product as “a collection of key national mortgage pricing data that enables lenders to price products competitively, operate more profitably, and react swiftly to changing market conditions.“ Competitive Data License draws upon data from the Optimal Blu
Appraisal Buzz
JUNE 27, 2024
Mortgage rates continued to edge down for a third week, with the average rate for a 30-year, fixed-rate mortgage falling to 6.86%, down from 6.87% last week, according to Freddie Mac. A year ago at this time, the average rate for a 30-year was 6.71%. “The 30-year fixed-rate mortgage continues to trend down, hitting the lowest level in almost three months,” says Sam Khater, chief economist for Freddie Mac, in a statement.
Inman
JUNE 27, 2024
The typical home sold for 0.3 percent less than the original asking price in the past month, according to a new report from Redfin.
Appraisal Buzz
JUNE 27, 2024
According to the Office of the Comptroller of the Currency (OCC) report on the performance of first-lien mortgages held by the federal banking system during the first quarter of 2024 found that 97.4% of mortgages included in the report were performing and current, an increase of 0.2% from the previous quarter but a decrease of 97.6% from a year ago.
Inman
JUNE 27, 2024
The complaints, filed by a San Diego resident, seek class-action status and accuse the real estate companies of violating state and federal privacy laws due to their use of third-party tracking pixels.
Eyes on Housing
JUNE 27, 2024
Total (new and existing) home inventory is an important measure for gauging and forecasting home prices and home construction impacts. The intuition is clear: more inventory yields weaker or declining home price growth and home building activity. Lean inventory levels lead to price growth and gains for home building. The metric “months’ supply” is a.
Inman
JUNE 27, 2024
"The U.S. housing market is stuck, and we are not convinced it will become unstuck anytime soon," economists at Bank of America Global Research say of ongoing affordability issues.
Eyes on Housing
JUNE 27, 2024
New single-family starts have trended higher since 2012, reaching a post-pandemic peak of 1,133,145 units in 2021. During 2022 and 2023, elevated housing prices and persistently high mortgage rates have dampened housing market activity. According to NAHB analysis of the 2023 Survey of Construction (SOC), new single-family starts decreased in 2023 for the second consecutive.
Inman
JUNE 27, 2024
Most real estate professionals expect commission splits at their brokerage to remain unchanged for a while longer. As for the rest, many have conflicting opinions on what kind of change is coming.
Mortgagebroker News
JUNE 27, 2024
Investigation uncovers altered bank statements and fake employment records
Inman
JUNE 27, 2024
Keeping Current Matters' David Childers and Jimmy Burgess crunch the numbers and lay out the reasons real estate agents and brokers could see a post-presidential election sales surge in 2025.
Mortgagebroker News
JUNE 27, 2024
TD economist says it can close economic growth gap with US
Inman
JUNE 27, 2024
Elevated mortgage rates continued to curb homebuyer activity in May, NAR reported. As inventory increases in upcoming months, slower home price growth will follow, and likely more buyers hitting the market.
Mortgagebroker News
JUNE 27, 2024
Prospective sellers divided on keeping homes listed prior to June 25 deadline
Inman
JUNE 27, 2024
President of The Real Brokerage says agents are living in a "small hinges swing big doors" world and that Inman Connect Las Vegas can help them learn a little skill that can move the needle a lot.
Expert insights. Personalized for you.
501 
Let's personalize your content