Appraisal Buzz

JUNE 18, 2024

Despite the construction boom that happened shortly after pandemic restrictions began being lifted—that has since slowed—the U.S. housing shortage grew to a 4.5-million-unit deficit, up from 4.3 million units in 2023, according to a new analysis from the real estate firm Zillow. The deepening housing deficit is the root cause of the housing affordability crisis According to Zillow, at its core, the housing market is driven by supply and demand; when the number of people who want a home increase

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Inventory Construction Law Real Estate 449

BiggerPockets

JUNE 5, 2024

Mortgage porting allows you to transfer an existing mortgage from one property to another, with the same lender and the same terms, under certain conditions. Is this something investors should try?

Investors 90

Investors Mortgage 90

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.

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Inventory Contracts Realtors Buyers 501

Real Estate News

JUNE 22, 2024

New York is one of only two cities where landlords can hire brokers and require renters to pay them. This may be changing — but not if the industry has its way.

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Landlords 355

Inman

JUNE 10, 2024

As compliance becomes even more top of mind for the industry, Realtracs CEO Stuart White writes, MLSs have an enhanced role as a reliable resource to support professionals in following developing processes and procedures.

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Tools Development Brokerage Agents 200

Eyes on Housing

JUNE 20, 2024

Single-family and multifamily housing starts fell in May as high interest rates for construction and development loans and elevated mortgage rates held back both housing supply and demand. Overall housing starts fell 5.5% in May to a seasonally adjusted annual rate of 1.28 million units, according to a report from the U.S. Department of Housing.

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Construction Development Mortgage 183

BiggerPockets

JUNE 14, 2024

When New York City banned short-term rentals (under 30 days) under Local Law 18 in September 2023, 15,000 landlords suddenly found themselves without income, many struggling to pay their mortgages.

Landlords 93

Landlords Law Investors Mortgage 93

Housing Wire

JUNE 5, 2024

The U.S. Department of Housing and Urban Development (HUD) this week announced the launch of a new program designed to allow for the purchase, refinance or renovation of manufactured housing under a loan program sponsored by the Federal Housing Administration (FHA). The Manufactured Home Community loan product will “will help entities to preserve, stabilize, and revitalize these vital sources of affordable housing,” the department explained.

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Government Finance Renovations Insurance 529

Real Estate News

JUNE 24, 2024

The associations that own the 16th-largest MLS surprised its leaders with a deal that “scared the absolute hell out of us,” REcolorado’s vice chair said.

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Inman

JUNE 18, 2024

The U.S. Department of Justice on Monday argued NAR "does not identify any errors of law or fact meriting panel rehearing" over whether the antitrust enforcer can reopen its probe into NAR rules.

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Law Realtors 201

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.

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Inventory Construction 179

Appraisal Buzz

JUNE 20, 2024

ATTOM has released its Q1 2024 U.S. Home Flipping Report , which shows that 67,817 single-family homes and condominiums in the United States were flipped in Q1. Those transactions accounted for 8.7%—or one out of every 12 home sales overall—from January to March 2024. The latest figure was up from 7.7% of all home sales in the U.S. in Q4 of 2023, representing the second consecutive quarterly increase.

Investors 436

Investors Property Taxes Renovations Investing 436

BiggerPockets

JUNE 12, 2024

This article is presented by DealMachine. Read our editorial guidelines for more information. A well-built, up-to-date lead list is an essential component of success in real estate investing.

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Investors Real Estate Investing Business 92

Housing Wire

JUNE 11, 2024

The U.S. Department of Veterans Affairs (VA) on Tuesday issued a temporary fix that will allow homebuyers using VA loans to pay for their real estate agent’s commission — i.e., the buyer-broker fee. The change, a result of the National Association of Realtors’ (NAR) commission lawsuit settlement agreement , was anticipated late last month and commented on by Michelle Corridon, the deputy policy director at the VA.

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Buyers Real Estate Real Estate Agent Brokerage 523

Real Estate News

JUNE 25, 2024

Association owners of REcolorado say now is “the right time to sell” and that decoupling MLSs and associations can provide protections and improve operations.

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Inman

JUNE 24, 2024

Fannie Mae on Friday slashed its 2024 forecast as a result of weak spring home sales, but listings are returning to the market and mortgage rates look poised to drop, according to new projections.

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Eyes on Housing

JUNE 18, 2024

The market value of household real estate assets rose from $44.90 trillion to $45.84 trillion in the first quarter of 2024 according to the most recent release of U.S. Federal Reserve Z.1 Financial Accounts. Over the year, household real estate assets were 7.75% higher. After falling in the fourth quarter of 2023, the market value.

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Real Estate Market Value Marketing Mortgage 173

Appraisal Buzz

JUNE 18, 2024

Rapid rent increases mixed with widespread financial hardship pushed the number of cost-burdened renters to a record high of 22.4 million households in 2022, according to a new analysis from Harvard’s Joint Center for Housing Studies. With housing costs outpacing income gains, low-income renters have been hit especially hard—median residual income remaining post-rent has sunk to $310 a month, far less than the minimum for an adequate standard of living, and turning food, healthcare, and childcar

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Investing Appraisal Marketing 436

BiggerPockets

JUNE 14, 2024

When you know how to show a rental property, you'd better position yourself to find a tenant in short order. Here are the six steps you must take to show a rental property to prospective tenants.

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Tenants Property Management Landlords 90

Housing Wire

JUNE 7, 2024

Home equity continued to rise in the first quarter of 2024 as residential properties with mortgages collectively gained $1.5 trillion in equity over the past year, according to a CoreLogic report released Friday. The average U.S. homeowner with a mortgage added $28,000 in equity during the year ending in March 2024 — the highest year-over-year increase since late 2022.

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HOA Home Value Insurance Mortgage 518

Real Estate News

JUNE 21, 2024

The California Association of Realtors informed members that the DOJ expressed concern over new forms related to the NAR settlement and MLS practices.

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Realtors 306

Inman

JUNE 4, 2024

Some believe more buyers will come to the table without agents. That could lead to fertile breeding grounds for the polarizing practice sometimes known as "double ending.

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Agents Buyers Law Realty 198

Eyes on Housing

JUNE 6, 2024

Despite higher mortgage rates, limited resale inventory and strong growth in demand continued to put upward pressure on house price appreciation. House price appreciation was recorded in all 50 states and the District of Columbia. According to the quarterly all-transactions House Price Index (HPI) released by the Federal Housing Finance Agency (FHFA), U.S. house prices.

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Inventory Finance Mortgage 174

Appraisal Buzz

JUNE 14, 2024

Home sales dipped 1.7% month-over-month in May on a seasonally adjusted basis, and 2.9% year-over-year, according to a recent Redfin study. There have only been two months in the last decade with fewer home sales: October 2023, when mortgage rates reached a 23-year high, and May 2020, when the pandemic brought the housing market to a halt and home sales to an all-time low.

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Sellers Buyers New Listings Mortgage 436

BiggerPockets

JUNE 17, 2024

DSCR loans have moved at unprecedented rates. Real estate investors navigating the challenging market of 2024—with mortgage rates still at elevated levels—are at an advantage.

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Marketing Real Estate Investors Mortgage 91

Housing Wire

JUNE 8, 2024

Given last week’s surprising jobs report, how much longer will we have to deal with higher mortgage rates ? The labor data will be the key to answering that question. It’s essential to track the labor data along with inflation because the key to getting lower mortgage rates for longer lies with the labor data more than inflation. That makes this week another one to watch since we will have CPI inflation and the Federal Reserve meeting results on Wednesday.

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Mortgage Inventory New Listings Contracts 508

Real Estate News

JUNE 28, 2024

The Realtor association owners of the MLS said the decision was made “in the best interests of our collective membership” following confidentiality violations.

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Buyers Realtors 291

Inman

JUNE 11, 2024

The temporary rules were first announced in May ahead of Memorial Day and came in response to calls from Realtors who feared veterans would become less competitive in the new landscape.

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Realtors Buyers Real Estate Brokerage 192

Eyes on Housing

JUNE 19, 2024

Mortgage rates that continue to hover in the 7% range along with elevated construction financing costs continue to put a damper on builder sentiment. Builder confidence in the market for newly built single-family homes was 43 in June, down two points from May, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market.

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Mortgage Construction Finance Housing Market 167

Appraisal Buzz

JUNE 17, 2024

According to new Redfin research , more than three in five—an estimated 61.9%—of homes on the market in May had been listed for at least 30 days without selling. That’s up from 60% a year ago and around 50% two years ago. Since March, when new listings increased but buyer demand remained sluggish, the share of properties on the market for at least one month has increased year-over-year, as it has since mortgage rates began climbing in 2022.

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Marketing Inventory Contracts New Listings 433

BiggerPockets

JUNE 7, 2024

After several years of escalating home prices amid tight inventory, as well as high interest rates that slammed the brakes on homebuying and investing, the first few dominoes appear to […]

Inventory 90

Inventory Investing 90

Housing Wire

JUNE 17, 2024

From rising home prices to rising mortgage rates and inflation , the millennial generation hasn’t had it easy when it comes to homeownership. But new data from Realtor.com shows that millennials aren’t overly burdened in comparison to previous generations. The analysis of historic home prices, income levels and mortgage rates found that baby boomers — Americans between the ages of 60 and 78 this year — “arguably faced the toughest housing market ever for first-time buyers.“ In 1980, when boomers

Housing Market 497

Housing Market Property Taxes Inventory Buyers 497

Real Estate News

JUNE 13, 2024

Buyers have more inventory to choose from, but the uptick in demand could be short-lived as the lock-in effect and price growth continue to stymie sales.

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Inventory Mortgage Buyers 298

Inman

JUNE 7, 2024

Four days after Bing Real Estate came under fire for its alleged co-opting of listing data from Zillow, Redfin and Realtor.com, Microsoft has removed for-sale listing data from its site.

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Real Estate Technology Agents 195