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Last week we saw a noticeable decline in new listings and active inventory was barely positive. Does this mean housing inventory has begun its seasonal decline? Here are the weekly numbers: Weekly active listings rose by only 343 Mortgage rates rose from 7.08% to end the week at 7.22% Purchase apps fell 2 % week to week Weekly housing inventory At first glance, it seems we’re now seeing the seasonal active inventory decline since new listings data fell noticeably and active listings slowe
Is it 2007 again? There’s so much talk online about today’s housing market being like 2007, but what are the stats showing? Today I want to walk through three parts of the market. I suspect many locations are experiencing the same trend as Sacramento too. Skim by topic or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: […] The post Is it 2007 again in the housing market?
Over the first seven months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 527,158. On a year-over-year (YoY) basis, this is 18.4% below the July 2022 level of 645,877. Year-to-date ending in July, single-family permits declined in all four regions. The Northeast posted the lowest decline of 12.1%, while the West region reported the steepest.
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.
The growth rate of inflation has been falling for a year, but mortgage rates are still near multi-decade highs. Why? While it is true that mortgage rates traditionally fall alongside inflation, I believed 2023 was going to be about the labor market. This was the core premise of my 2023 forecast, and so far it has worked. In my 2023 forecast , I set the range on the 10-year yield between 3.21%-4.25%, emphasizing that the bond yields can go lower than 3.21% only if the labor market breaks — which
Although broker Troy Palmquist and DOORA Creative Director Janet Pozos know that brokers expect accountability and investment from their agents, the agents need the same thing from their leaders.
Although broker Troy Palmquist and DOORA Creative Director Janet Pozos know that brokers expect accountability and investment from their agents, the agents need the same thing from their leaders.
According to the latest Producer Price Index report, the price level of inputs to residential construction less energy (i.e., building materials) ticked up 0.1% in August (not seasonally adjusted). Prices have also increased 0.1% over the past 12 months as year-over-year price growth has slowed from 4.9% in January 2023 and 14.7% in August 2022. The 12-month increase is the smallest.
Rate lock volume fell 1.5% in August, the third consecutive decline as mortgage rates climbed to the highest level in more than 20 years. Overall lock volumes were down 9.5% over the last three months and were 55% below that of August 2022, according to Black Knight ’s August originations market monitor report. “Interestingly, we saw very slight upticks in both cash-out and rate/term refinance locks in August,” Andy Walden, VP of enterprise research for Black Knight, said in a statement.
The luxury sector has always led the real estate industry in terms of innovation. High-end homes frequently include cutting-edge features, and high-end clients raise the bar with aspirational ideas and ambitious expectations. So it’s only natural that high-end agents also try to push the boundaries of what’s possible.
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.
Assume what condition your assumption is in! Editor’s Note: This is Standards, part 3.13 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. Assumptions are a critical part of all analyses or reasoning logic. Assumptions about assumptions are interesting. Two starting points are assumed: 1) the […] The post Assumed Assumption Addiction?
Local Logic , a location intelligence platform that digitizes the built world, has teamed up with Plunk , an AI-driven analytics company, to empower end-users with the technology and insights they need to accelerate and improve home purchase decisions, the company announced on Tuesday. Plunk’s AI-powered home analytics platform offers real-time insights into home valuation , risk assessment, and remodeling possibilities.
To satisfy antitrust regulators, ICE divests itself of Black Knight's loan origination and mortgage pricing businesses, but gets access to mortgage loan servicers and MLSs in $11.9 billion merger.
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.
Mortgage rates inched back up this week and remain anchored north of 7% as investors focus on the impact of rising headline inflation ahead of next week’s Fed rate decision. Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.18% as of Sept. 14, up from last week ’s 7.12%.
-Oxford-/iStock The home-buying process is a high-stakes thrill ride full of exhilarating ups and scary downs, but unquestionably one of the most deflating moments is when the appraisal comes in significantly lower than the accepted offer. This is, to use technical real estate lingo, “a bummer.” Either you feel as though you got the raw end of a deal by paying more than the property’s worth or, if you don’t have extra cash to hand over, the deal can crumble into dust.
New York-based mortgage platform Roam has secured a $1.25 million seed round, allowing the company to officially launch its services on Wednesday. Roam focuses on a distinctive niche within the mortgage industry: assumable mortgages. Tech executive and investor Keith Rabois at venture capital firm Founders Fund led the capital injection. It also included Opendoor co-founder Eric Wu , Culdesac CEO Ryan Johnson and #ANGELS founding partner Jana Messerschmidt.
Luxury agent Shelton Wilder, CEO of the Shelton Wilder Group, joins Aaron Kirman at AKG | Christie's International Real Estate after closing $150 million in sales volume in 2022.
A majority of single-family home building occurs in counties that are in the lowest quintile of homeownership rates, according to NAHB analysis of 2021 5-year American Community Survey (ACS) county-level data and single-family permit numbers. This somewhat counterintuitive result is actually a reflection of the concentration of households in a small number of counties.
U.S. home price gains rose 2.5% year over year in July to mark the 138th straight month of annual growth. The annual acceleration reflects six consecutive monthly gains, which drove prices about 5% higher compared to the February bottom, according to CoreLogic ‘s Home Price Index. “Annual home price growth regained momentum in July, which mostly reflects strong appreciation from earlier this year,” said Selma Hepp, chief economist for CoreLogic.
Cordless Media’s products are designed for companies trying to reach the real estate brands, home buyers, moving companies, investors and other entities in real estate verticals.
Indie brokerage network LeadingRE has a new COO, chief legal officer; marketing platform Addressable taps Opendoor exec as COO; Women's Council names new CEO.
The second quarter of 2023 release of the Z.1 Financial Accounts of the United States indicates that the market value of households’ real estate assets increased over the quarter. Low existing for-sale inventory helped to increase real estate value after falling for three consecutive quarters. The level of households’ real estate assets increased by $2.43 trillion from $42.07 trillion in.
Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. Nearly 60,000 home-purchase agreements were canceled nationwide in August, equal to 15.7% of homes that went under contract that month, according to a new report from Redfin. That rate is up from 14.3% in August 2022 and marks the highest percentage since October 2022, when mortgage rates surpassed 7% for the first time in two decades.
In theory, any government-backed FHA, VA and USDA loan is assumable, and with mortgage rates at levels not seen in two decades, interest in this little-used option has been growing.
Per the Mortgage Bankers Association’s (MBA) survey through the week ending September 8th, total mortgage activity decreased 0.8% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose six basis points to 7.27%. The FRM rate has remained above 7% since the start of August. The Market Composite Index, a measure of mortgage loan application volume, fell.
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