Housing Wire

DECEMBER 9, 2023

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. This happened even with higher home prices and higher mortgage rates in 2023. Weekly housing inventory data We will start with the price cut data percentage because it deserves a detailed explanation. 2022 was a historic year for housing as we had the most significant home sales crash ever, and mortgage r

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Sacramento Appraisal Blog

DECEMBER 13, 2023

The housing market pretty much sucked this year for so many real estate professionals. Look, it’s easy to feel like God’s gift to real estate when business is flying off the shelves, but it’s tough when the transaction faucet gets turned off. The truth is everyone feels like an expert when things are good, but […] The post The housing market sucks, but experts can thrive first appeared on Sacramento Appraisal Blog.

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Housing Market Marketing Real Estate Appraisal 417

Real Estate News

DECEMBER 15, 2023

Five women told the Times that it took a lawsuit to get action on predatory behavior. A second lawsuit has been filed. eXp says it let “bad actors” go.

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Inman

DECEMBER 11, 2023

When it comes to marketing high-end homes, it pays to think like an ad firm. That means knowing your target audience, using themes they’ll understand, and finding ways to creatively defy convention.

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Marketing 208

Housing Wire

DECEMBER 13, 2023

The Federal Open Markets Committee (FOMC) held its short-term policy interest rate steady at a range of 5.25% to 5.5% at its last meeting of the year on Wednesday. It was the fourth pause recorded in 2023. Investors will parse Jerome Powell’s press conference this afternoon for clues about when and why the central bank might change its policy stance next year.

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George Dell

DECEMBER 13, 2023

The education question — what is more important? The content of appraiser training, or how it is delivered? Appraiser education “marketability” is similar to appraisal marketing itself. Buyers of appraisals and buyers of appraisal education judge by three things: Cheap; Fast; Good. “Pick any two” says David Towne in his graphic. Anyone can provide classes. […] The post Education: Delivery or Content?

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Inman

DECEMBER 13, 2023

Federal Reserve policymakers anticipate three rate cuts by the end of next year, but many think the central bank may cut faster and harder.

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Housing Wire

DECEMBER 12, 2023

Today’s inflation reports show that Federal Reserve rate cuts are in play in 2024 — not because of the labor market breaking, but because real rates are too high. If the labor market gets weaker, meaning jobless claims break over 323,000 on the four-week moving average, we can get even more rate cuts. The labor market is not there yet so for now we can focus on the fact that the Fed overhiked, and because of that, they have room to cut.

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Real Estate Marketing Mortgage 505

Eyes on Housing

DECEMBER 13, 2023

The Federal Reserve’s monetary policy committee held the federal funds rate constant at a top target rate of 5.5% at the conclusion of its December meeting. The Fed will continue to reduce its balance sheet holdings of Treasuries and mortgage-backed securities as part of quantitative tightening and balance sheet normalization. Marking a third consecutive meeting holding the federal funds rate.

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Mortgage 187

Real Estate News

DECEMBER 12, 2023

While high borrowing costs brought the market to a halt in 2023, there are signs that mortgage rate relief is coming in 2024.

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Inman

DECEMBER 13, 2023

Luring high-income renters into homeownership will only become more challenging as costs stay high, according to experts and a survey of US consumers conducted by Dig Insights and Inman.

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Housing Wire

DECEMBER 14, 2023

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. 14, according to Freddie Mac ‘s Primary Mortgage Market Survey. That’s down from last week’s 7.03% and up from 6.31% the same week a year ago.

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Eyes on Housing

DECEMBER 15, 2023

Over the first ten months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 773,526. On a year-over-year (YoY) basis, this is 10.7% below the October 2022 level of 865,815. Year-to-date ending in October, single-family permits declined in all four regions. The range of permit decline spanned 8.6% in the Northeast to 16.1% in the West.

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Real Estate News

DECEMBER 11, 2023

Another buyer-broker commissions lawsuit, filed Dec. 8, names NAR, San Francisco-area associations, BAREIS MLS and five national brokerages.

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Inman

DECEMBER 12, 2023

Public nominations are now open in four awards categories for 2024, including a slate of new honors designed to spotlight achievements in artificial intelligence and recognize real estate's emerging leaders.

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Real Estate Design Finance Technology 200

Housing Wire

DECEMBER 15, 2023

After two straight years of double-digit declines, home sales will pick up in 2024 thanks to lower mortgage rates. This is according to NAR Chief Economist Lawrence Yun, who shared a presentation of his 2024 forecast on Tuesday. While the past two years have been challenging to say the least for prospective homebuyers , homeowners have been reaping the fruits of their investments, as home prices steadily appreciated for the past three years.

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Eyes on Housing

DECEMBER 13, 2023

Per the Mortgage Bankers Association’s (MBA) survey through the week ending December 8th, total mortgage activity increased 7.4% from the previous week, and the average 30-year fixed-rate mortgage (FRM) rate fell 10 basis points to 7.07%. The FRM rate has decreased by 54 basis points over the past month.

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Real Estate News

DECEMBER 14, 2023

Laura Ellis, Baird & Warner’s strategy leader, believes changes spurred by Sitzer/Burnett will be “good for the serious, competent real estate professional.

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Real Estate 299

Inman

DECEMBER 15, 2023

The suit accuses now-former eXp agents of sexually assaulting a woman and claims eXp failed to stop the "abhorrent behavior." It follows a similar case that began in February.

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Housing Wire

DECEMBER 15, 2023

As the saying goes, everything is bigger in Texas. A copycat commission lawsuit filed on Thursday by home sellers in the United States District Court for the Eastern District of Texas, accuses 47 real estate industry defendants of allegedly conspiring to artificially inflate real estate agent commissions. This is the second commission lawsuit filed in the Lone Star State since a Missouri jury found the real estate industry liable for colluding to inflate agent commissions in late October.

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Real Estate Realtors Realty Real Estate Agent 493

Eyes on Housing

DECEMBER 12, 2023

Consumer prices rose slightly in November, with a decline in the gasoline index being offset by an increase in the shelter index. The ongoing slowdown in inflation increases the probability that the Fed is done increasing rates. However, even after peaking in March this year, shelter costs continued to put upward pressure on inflation, accounting for nearly 70% of the.

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Real Estate News

DECEMBER 12, 2023

The Massachusetts attorney general claimed the "buy-before-you-sell" company targeted financially strained homeowners through its sale-leaseback program.

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Inman

DECEMBER 14, 2023

Find out how this former NFL player applied his work ethic to building an award-winning, billion-dollar brokerage in just five years.

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Brokerage 195

Housing Wire

DECEMBER 13, 2023

The housing market cheered as the Federal Reserve signaled interest rate cuts next year after making a series of rapid rate hikes starting in 2022. While the central bank did not completely rule out the possibility of a rate increase in 2024, that action seems unlikely. Instead, fresh economic projections from central bank officials showed rates would be slashed to a median 4.6% by the end of 2024, suggesting three 25 basis points (bps) cuts from current levels.

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Eyes on Housing

DECEMBER 13, 2023

According to the latest Producer Price Index report, the price level of inputs to residential construction less energy (i.e., building materials) increased 0.2% in November after declining 0.4% in October (revised, not seasonally adjusted). The index has increased 0.8% (NSA), year-to-date, marking the smallest YTD gain through November since it fell 0.2% over the first 11 months of 2019.

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Real Estate News

DECEMBER 9, 2023

After becoming CEO of the nation’s largest independent brokerage, Hoby Hanna limited access to some listings. Expanding that approach is the table for 2024.

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Brokerage 299

Inman

DECEMBER 15, 2023

As we all gear up to welcome 2024, Inman Connect New York is excited to offer you the opportunity to gain new insights, build new connections, and learn new skills that will help you set a new vision and plan for the year ahead.

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Housing Wire

DECEMBER 13, 2023

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year. They may find that relief for mortgage rates next year, according to forecasts from various industry experts compiled by HousingWire. Sales, however, may see only mild improvement in the year ahead, while prices will remain more or less historically high, the forecasters believe.

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Eyes on Housing

DECEMBER 11, 2023

According to the Federal Reserve’s latest G.19 Consumer Credit report, total consumer credit outstanding totaled $4.99 trillion (seasonally adjusted annual rate) in October, an increase of $5.1 billion over the month and $146.7 billion—or 3.0%–higher than October 2022. The monthly increase resulted from revolving and nonrevolving credit outstanding gaining 0.2% and 0.1%, respectively.

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Real Estate News

DECEMBER 12, 2023

Zillow completes acquisition of Follow Up Boss; CoreLogic introduces mortgage insights tool for lenders; Cloze integrates with design platform Canva.

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Inman

DECEMBER 14, 2023

Luxury agent and new Inman contributor Tamer Howard shares a case study that's filled with strategies for getting that struggling listing sold for top dollar.

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Agents 193

Housing Wire

DECEMBER 11, 2023

A few months ago I published a video where we asked, “ How much will home prices gain by the end of the year?” Using a headline like that should come with a trigger warning. We could see that home prices were inching up, but there are many who think that home prices are currently falling. Even this week saw a press release with a “home prices in free fall” headline that got picked up all over the media.

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Eyes on Housing

DECEMBER 12, 2023

Using the Bureau of Economic Analysis most recent release of county level personal income per capita data and Census Bureau’s county level permit data, new NAHB analysis finds that single-family and multifamily construction takes place more often in areas where incomes are higher. Counties were grouped into five quintiles by the personal incomes per capita for each county.

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Construction 166

Real Estate News

DECEMBER 14, 2023

The seventh straight week of mortgage interest declines has led to more holiday season homebuying activity.

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