June, 2023

article thumbnail

Why higher rates aren’t crashing home prices

Housing Wire

Home prices aren’t crashing, despite what the housing bubble boys are saying. In fact, home prices have firmed up higher recently. The housing bubble boys are a crew that from 2012 to 2019 screamed housing crash every year. They went all in during COVID-19 in 2020, doubled down in 2021 as the forbearance crash bros but really bet the farm on a massive home-price crash in 2023 after the most significant home sales crash ever in 2022.

Inventory 545
article thumbnail

Principles of Prosperity: The Final Word

The Appraiser Coach

I’ve recently been posting about what I call the “Principles of Prosperity.” I’ve been hoping to give you a brief introduction that will pique your.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Hot graph summer & Airbnb doom

Sacramento Appraisal Blog

Let’s talk about housing doom. Particularly, I want to get into the viral idea about the demise of the Airbnb market. But first, I have a few visuals to kick off hot graph summer (sorry). I’d love to hear your take in the comments. A meme I shared this week as I talked about the […] The post Hot graph summer & Airbnb doom first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

article thumbnail

It’s a good time to be selling (and buying) new homes

Real Estate News

New home sales are up 20% year-over-year, according to the U.S. Census Bureau, and lower median prices could help first-time buyers.

Buyers 311
article thumbnail

Unlock The Blueprint: How To Construct A Better Payment Workflow

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

article thumbnail

Tips for Making a Successful Transition to a New City After a Personal Low Point

Cleveland Appraisal Blog

Hello friends! I’m playing catch-up on blogs with the help of my guest bloggers. I’m working on more of my own articles that will be posted soon. I welcome back guest blogger June Duncan who wrote this article for the Cleveland Appraisal Blog. In this article, she shares some tips for relocating after facing personal challenges. Relocating is not easy.

More Trending

article thumbnail

Opinion: Release the GSEs from conservatorship

Housing Wire

After the recent extraordinary show of force defending changes to LLPAs by federal regulators and their friends, the forest through the trees risk remains in focus to me. One of the great concerns I have, as both a former regulator and the former head of a major industry trade association, is the downside risk of keeping the GSEs in conservatorship any longer.

Sellers 525
article thumbnail

WCBS Radio - State Of Commercial Office, City v. Suburbs

Miller Samuel

I had a nice conversation with Joe Connolly and Neil A. Carousso on WCBS Newsradio 880 on the state of the NYC commercial office market. It was a macro-level conversation that I thought you might find helpful. The post WCBS Radio - State Of Commercial Office, City v. Suburbs first appeared on Miller Samuel Real Estate Appraisers & Consultants.

article thumbnail

A stunning first half of the year for the housing market

Sacramento Appraisal Blog

It’s been a stunning first half of the year for the housing market. Let’s talk about some of the bigger issues right now. Here are some things on my mind including weird stats, the anniversary of the market peak, Matt Rife tickets, and being ready for the second half of the year. I hope you […] The post A stunning first half of the year for the housing market first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

article thumbnail

'Mounting pressure' on industry as MLS agrees to settle commission suit

Real Estate News

MLS PIN has agreed to pay $3 million and stop requiring sellers to offer buyer-broker compensation, a practice at the core of two other major lawsuits.

Sellers 293
article thumbnail

Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

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.

article thumbnail

Consider These Factors Before Buying Land In 2023

Cleveland Appraisal Blog

Hello, friends! I’m still playing catch-up from June. So, here is another article from guest blogger Ashley Rodriguez. In this article, she discusses some things to consider before buying land. I hope you enjoy her article! Photo by Markus Spiske on Pexels.com Buying land is a significant investment, and it requires the careful consideration of several factors before you proceed.

article thumbnail

Standards: Groupthink Bias?

George Dell

We continue our look at how current standards, and regulations hold back best practices. This part 5 of a multipart look at issues in valuation standards. Editor’s Note: This is Standards, part 3.5 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. This part is interesting […] The post Standards: Groupthink Bias?

Valuation 195
article thumbnail

The savagely unhealthy housing market is back

Housing Wire

The days on market are back to a teenager level in the existing home sales market, which means I can officially say we are back to a savagely unhealthy housing market! Just when I thought I was out, they pull me back in. What do I mean by savagely unhealthy? One of the critical data lines I track is the days on market, and when that breaks under 30 days it’s a dangerous sign, but when we get into the teenager level or lower, it’s a red alert.

article thumbnail

Principles of Prosperity: The Final Word

The Appraiser Coach

I’ve recently been posting about what I call the “Principles of Prosperity.” I’ve been hoping to give you a brief introduction that will pique your interest. I’ve purposely not given you tons of information on them. That’s because of another principle: what you sacrifice for becomes more meaningful. You will appreciate these principles more if you sacrifice time and effort to learn them more deeply on your own.

Law 195
article thumbnail

A new home rebound & avocado toast

Sacramento Appraisal Blog

The housing market for new homes is rebounding, but that’s definitely not how I’d describe the rest of the market. Today I have some thoughts about new construction, avocado toast, and positioning yourself for the market that is happening. Skim or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: 6/30/23 Halftime report with Ben Johnston 10am (Zoom) […] The post A new home rebound & avocado toast first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

article thumbnail

eXp CEO reveals Homes.com talks and new twist on recruiting

Real Estate News

Glenn Sanford’s “State of the Union” hints at strategic partnerships, an exclusive lead-gen strategy and investments in attracting teams.

Investing 293
article thumbnail

Pest Control Tips and Tricks That Work In 2023

Cleveland Appraisal Blog

Hello! I hope you’re having a great summer! I am behind on my blogging for June. To get caught up, I have some returning guest bloggers who wrote some articles that I think you might enjoy. This week, I welcome back Ashley Rodriguez. In this article, she shares some pest control tips and tricks. I hope you find them useful! Photo by Pixabay on Pexels.com Pests continue to be a major concern for homeowners and business owners alike.

article thumbnail

Move to EBV? Standards

George Dell

Standards enforce appraisal review as well as development and reporting. Editor’s Note: This is Standards, part IIIc of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. This is the third part topic of the larger topic of how standards may help or hinder the move into […] The post Move to EBV? Standards appeared first on George Dell, SRA, MAI, ASA, CRE.

article thumbnail

New home sales defy recession calls

Housing Wire

New home sales are up 20% year over year, and existing home sales are down 20% year over year; this is something we don’t see very often. One group has the advantage here while the other doesn’t: The new home sales market is minuscule versus the existing one, and the builders sell their homes like a commodity. Last year a theme of mine was that new home sales are historically low, and the builders know how to move products when needed.

article thumbnail

Freedom: the Basis of Creativity

The Appraiser Coach

I think I’ve talked to you about my definition of wealth before. It’s not having a sports car or a big fancy house. My definition of wealth is the ability to do what I want, when I want, with whom I want, because I want. This is all within reason, of course. I’m not going to go out and dunk a basketball tomorrow; I’m not anywhere near the condition required for that.

Business 195
article thumbnail

That place where pickleball and real estate meet

Sacramento Appraisal Blog

Pickleball is all the rage, and today I want to talk about how the growth of the sport is becoming much more noticeable in real estate listings. I also have an interview with a friend who built a pickleball court in his backyard. For the record, I actually don’t play (yet), but a friend is […] The post That place where pickleball and real estate meet first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

article thumbnail

Getting your brokerage ready for a new world of buyer agency

Real Estate News

In light of ongoing lawsuits, brokers need to prepare their buyer agents to communicate their value and respond to objections around agreements and fees.

Buyers 289
article thumbnail

Single-Family Building Focused around Baby Boomers: Multifamily is Millennial Focused

Eyes on Housing

NAHB analysis of county level permit data and demographic data indicates that single-family home building in the first quarter of 2023 is occurring mostly in counties where baby boomers make up a majority of the population. The Census Bureau provides county level population age estimates in 5 years intervals. For example: 0-4, 5-9, 10-14 through 85+.

Marketing 187
article thumbnail

Slowing single-family rental price growth is approaching pre-pandemic levels

Housing Wire

The U.S. single-family rental market is still strong, but the pace of rent increases has cooled significantly over the past year. The market is looking more like 2019 than the price spikes witnessed during the pandemic. U.S. single-family rent increases in May registered a 3.7% gain, compared to the 14.2% growth observed in the same month in 2022, according to Corelogic ’s Single-Family Rent Index (SFRI).

Tenants 491
article thumbnail

Has the Fed won its battle against inflation? 

Housing Wire

Inflation was running over 9% last year and the headline inflation growth rate has cooled off a lot recently. Does this mean the Federal Reserve will pivot soon to prevent a recession? I don’t believe they will, but the growth rate of headline inflation falling is good enough for them to pause rate hikes tomorrow. The core aspect of inflation is taking time to head lower, and this is the part of the inflation picture that the Fed cares most about.

Marketing 483
article thumbnail

Homebuilders are all smiles right now

Housing Wire

For the first time in nearly a year, homebuilder confidence moved into positive territory thanks to strong consumer demand , limited competition from the existing home sales market , and an improving supply chain. The National Home Builders Association ‘s June survey marks the sixth straight month that builder confidence has increased and is the first time that sentiment levels have surpassed the midpoint of 50 (out of 100) since July 2022.

article thumbnail

Housing Market Tracker: Purchase apps surprise

Housing Wire

Mortgage rates were near 7% last week but purchase applications were still able to pull out an 8% week-to-week gain. That was surprisingly strong, but as I have always stressed, context is critical. Purchase apps were coming off a four-week losing streak and even though those were mild week-to-week declines, it was still four weeks of weakness. The recent growth broke that streak, but demand is still low.

article thumbnail

Is the sinking housing market finally at the bottom?

Housing Wire

It’s been a brutal 15-month period for the housing market since the Federal Reserve began escalating its benchmark interest rate in March 2022 to combat rising inflation. Since then, the Fed has bumped rates 10 times, effectively putting the brakes on what had been a hot housing market. As the June 13-14 meeting of the central bank’s Federal Open Market Committee (FOMC) approaches, the housing industry remains prepared for yet another jolt of rate shock.

article thumbnail

Residential real estate activity picks up despite low inventory

Housing Wire

All 12 Federal Reserve districts have seen issues with a lack of housing inventory , which is largely due to existing homeowners holding back on listing their homes after previously locking in low mortgage rates. Demand from the buyer side has remained steady or increased, however, and new home builders have responded to inventory shortages by increasing speculative inventory production, according to the Federal Reserve Beige Book, released Wednesday.

Inventory 453
article thumbnail

Zillow shuts down Closing Services

Housing Wire

Zillow Group ’s attempt to streamline the home buying experience by offering all facets of the transaction process on one platform has hit a road bump. The real estate listing giant announced on Monday that it is sunsetting its title and escrow provider, Zillow Closing Services. “Integrating the real estate transaction to make buying and selling simpler for customers remains our core strategy and we believe offering title and escrow is a critical component,” a Zillow spokesperson wrote in an ema

article thumbnail

Is the housing recession over?

Housing Wire

Housing starts are surging today and the builder’s confidence data is now in expansion territory. Does this mean the housing recession is over? As I have said many times over the last few months, the builders are efficient sellers and they’re taking advantage of an existing home sales market that is suffering from low inventory and higher mortgage rates.

article thumbnail

Median income earners can only afford 25% of current listings

Housing Wire

It is no secret that housing inventory is low. As of June 2, there were 433,104 single family homes on the market nationwide, according to data from Altos Research. And while this situation is certainly far from ideal, according to a report published Thursday by the National Association of Realtors and Realtor.com , even with the existing level of homes available for sale, the housing affordability and inventory shortage issues wouldn’t be so severe if there were enough homes for buyers at all i

article thumbnail

Housing Market Tracker: Inventory gets summer lift

Housing Wire

Summer is here, and housing inventory is finally growing! The spring housing inventory was like a zombie rising from the grave, very slow, but the summer is showing some promise and let’s hope it continues. Purchase apps had a small week-to-week gain. Mortgage rates were again in a small range, hanging near 7%. Here’s a quick rundown of the last week: Active inventory grew 8,886 weekly.

Inventory 435