Housing Wire
AUGUST 17, 2024
Have lower mortgage rates already started to slow down housing inventory? I have a simple weekly growth model with the Altos inventory data: when rates are high, over 7.25%, inventory should grow between 11,000-17,000 weekly. This has happened six times this year and even though that would be an average inventory growth level with higher rates, it didn’t happen even once last year.
Appraisal Buzz
AUGUST 26, 2024
In July, pending sales of starter homes increased 10.2% year-over-year to the highest level since October 2022, per a new report from Redfin. This indicates that in the lower end of an otherwise “stagnant market”, there might be hope for first-time homebuyers. Middle-class homes (those with sales prices in the 35th–65th percentile of the market) saw a 6.5% decline in pending sales in July over the same month last year, while upper-class homes (those in the 65th–95th percentile) saw an even great
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Real Estate News
AUGUST 12, 2024
The plaintiffs say they shouldn’t have to join NAR and other associations to access the MLS, especially if buyer-broker compensation is no longer guaranteed.
Inman
AUGUST 26, 2024
The Florida-based brokerage's buyer-focused marketing and educational resources are made for agents in need of assistance as they pitch buyer representation services, executives told Inman.
Eyes on Housing
AUGUST 20, 2024
Single-family built-for-rent construction posted year-over-year gains as of the second quarter of 2024, as builders sought to add additional rental housing in a market facing ongoing, elevated mortgage interest rates. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were approximately 23,000 single-family built-for-rent (SFBFR) starts.
Appraiserblogs
AUGUST 30, 2024
The Appraisal Regulation Compliance Council published a detailed breakdown to the CFPB, which showed the median average AMC fee being charged to borrowers amounted to a staggering 65% of the total appraisal fee, with one AMC extracting as much as 84% in pure profit. The Appraisal Regulation Compliance Council (ARCC) is a crucial non-profit organization that specializes in providing fact-based research and expertise on the complex web of appraisal regulations and compliance issues.
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Appraisal Buzz
AUGUST 15, 2024
The U.S. foreclosure market experienced a notable uptick in July 2024, with foreclosure filings increasing by 15% from the previous month, according to the latest report from ATTOM Data, a land, property, and real estate data firm. A total of 31,929 properties across the nation faced foreclosure actions, which include default notices, scheduled auctions, or bank repossessions.
Real Estate News
AUGUST 13, 2024
The Keller-Williams co-founder told a crowd of the faithful that he sees a soft landing for the economy and success for agents who are ‘ready to jump’ in 2025.
Inman
AUGUST 26, 2024
Eight Realtors are seeking class action status in their lawsuit against Realtor.com for allegedly selling unvetted and fraudulent buyer and seller leads. This is the third lawsuit against Realtor.com and parent company Move over its lead gen business.
Eyes on Housing
AUGUST 14, 2024
Over the first half of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 514,728. On a year-over-year (YoY) basis, this is an increase of 14.6% over the June 2023 level of 449,226. Year-to-date ending in June, single-family permits were up in all four regions. The range of permit increases spanned 19.9%.
Appraiserblogs
AUGUST 29, 2024
These misleading ads are sowing seeds of mistrust in a time-tested profession. The National Fair Housing Alliance (NFHA) has recently launched a concerning campaign of poster ads, billboard ads, and magazine ads that falsely accuse home appraisers of basing their valuations on the personal characteristics of the homeowners or prospective buyers, rather than solely on the objective merits and features of the property itself.
Housing Wire
AUGUST 26, 2024
The National Association of Realtors (NAR) is facing yet another lawsuit. The latest complaint, which is seeking class-action status, was filed on Friday by eight real estate agents in Los Angeles County Superior Court. The suit claims that NAR, along with Move Inc., Move Sales , OpCity Acquisitions , OpCity Inc. and REA Group Ltd. — which, according to the complaints, are all wholly owned subsidiaries of Move and News Corp , who is also a defendant — defrauded agents by selling them fake lead
Appraisal Buzz
AUGUST 30, 2024
The U.S. Commercial Foreclosure Report , recently released by ATTOM, indicates that the number of commercial foreclosures has steadily increased over time, rising from a low of 141 in May 2020 to 647 in June 2024. This pattern shows a steady rise over the course of the time. ATTOM’s latest commercial foreclosure activity analysis also noted that Since January 2014, ATTOM has been analyzing data during a period marked by the nation’s emergence from economic uncertainty, starting with 740 commer
Real Estate News
AUGUST 17, 2024
Important practice changes required by the NAR settlement take effect today, affecting buyer agent agreements and compensation. “We are in this together.
Inman
AUGUST 22, 2024
The suit accuses NAR and major franchisors of breaking antitrust laws. The company's complaint includes alleged text messages in which agents refused to show Homie listings.
Eyes on Housing
AUGUST 9, 2024
Total outstanding US consumer debt stood at $5.08 trillion for the first quarter of 2024, increasing at an annualized rate of 2.46% (seasonally adjusted), according to the Federal Reserve’s G.19 Consumer Credit Report. From the second quarter of 2023 to the second quarter of 2024, the total increased by 1.84%. This year-over-year (YoY) growth rate.
BiggerPockets
AUGUST 14, 2024
Deal finding is one of the most important parts of real estate investing, yet a lot of investors struggle to put it together. Here's how you can form a stellar team of finders.
Housing Wire
AUGUST 26, 2024
Although the industry is barely than a week into the “ new normal ,” some real estate agents and brokers are already seeing smaller buy-side commissions. “It kind of started before the [ National Association of Realtors ] settlement went into effect, but commission compression is a real thing,” Brian Huskey, the broker-owner of Montana-based ERA American Real Estate , said.
Appraisal Buzz
AUGUST 22, 2024
In the second quarter of 2024, the Mortgage Bankers Association (MBA) reported a 3% increase in commercial and multifamily borrowing compared to the previous quarter. This growth highlights a sustained demand for multifamily loans and certain commercial properties, even as the market grapples with higher interest rates. The MBA credits favorable economic conditions and a strong market for bolstering demand in these segments.
Real Estate News
AUGUST 15, 2024
On the Real Estate Insiders Unfiltered podcast, Nykia Wright pleaded with real estate pros to keep complaints in the family while pledging to earn their trust.
Inman
AUGUST 27, 2024
In a new report, University of Buffalo contracts law professor Tanya Monestier details ways in which contracts allow buyer agents to collect more compensation than agreed-to with the buyer.
Eyes on Housing
AUGUST 7, 2024
The share of new single-family homes built in the 1,600-3,000 square-foot range closely matches the share of buyers who want homes of that size, according to recent surveys from NAHB and the U.S. Census Bureau. The surveys show that 21% of buyers want homes with 1,600 to 1,999 square feet, and 22% of new single-family.
BiggerPockets
AUGUST 2, 2024
The American Housing and Mobility Act would use estate tax increases to incentivize development. Private equity, lenders, and homeowners are caught in the crossfire.
Housing Wire
AUGUST 2, 2024
Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. A sample of more than a dozen industry professionals said they were quoting most borrowers in the high 5% to low 6% range on government loans and in the mid-6% range for conventional mortgages.
Appraisal Buzz
AUGUST 21, 2024
According to the Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey , the total number of loans now in forbearance increased from 0.23% to 0.27% as of July 31, 2024. The MBA estimates that 135,000 homeowners are currently in forbearance plans, as the nation’s mortgage servicers have provided forbearance to approximately 8.2 million borrowers since March 2020.
Real Estate News
AUGUST 26, 2024
Agents from six states allege that the parent company of Realtor.com sold dubious leads, and said NAR — also a defendant — was “complicit” in the scheme.
Inman
AUGUST 21, 2024
Doug Miller of Consumer Advocates in American Real Estate, the initiator behind the first bombshell antitrust lawsuit, sounds alarm against Realtor talking points that "continue steering.
Eyes on Housing
AUGUST 28, 2024
The average completion time of a single-family house in 2023 was approximately 10.1 months, breaking down to 1.5 months for authorization to start construction and another 8.6 months to finish construction. According to the Census Bureau’s Survey of Construction, the permit-to-completion time has been on an upward trend since 2015. Currently, it is almost 3.
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.
Housing Wire
AUGUST 26, 2024
Detroit-headquartered Rocket Mortgage on Monday rolled out a lender-paid 2-1 temporary buydown program for lower-income households. The program, dubbed “Welcome Home RateBreak,” is available to buyers purchasing a single-family home and earning 80% or less of their area median income (AMI). Rocket estimates the size of this segment at more than 90 million people.
Appraisal Buzz
AUGUST 20, 2024
While buyers weigh many factors when it comes to purchasing a home, in 2017, Realtor.com released its first Hottest ZIP Codes Report. This year, 43230 in Gahanna, Ohio, became the top-ranked ZIP code for the second year in a row. The Midwest and the Northeast are home to all of this year’s hottest ZIP codes, according to the 2024 report that was just published.
Real Estate News
AUGUST 29, 2024
The former CEO of RE/MAX and Century 21 says he will apply his experience helping franchise owners to his new role in real estate consulting.
Inman
AUGUST 12, 2024
The plaintiffs protest "compulsory" Realtor membership to access the MLS after the removal of "the guaranteed broker commission" from the MLS.
Eyes on Housing
AUGUST 22, 2024
The labor market may not be as strong as previously estimated, according to the Bureau of Labor Statistics’ preliminary estimate of the upcoming annual benchmark revision to the establishment survey employment series. Each year, the Current Employment Statistics (CES) survey employment estimates are benchmarked to full population counts of employment for the month of March.
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