Housing Wire
FEBRUARY 16, 2024
Three sources, who have asked to remain anonymous, have confirmed to HousingWire that the National Association of Realtors (NAR) has run out of liability insurance funds. The news about NAR’s insurance predicament began circulating late Wednesday , with industry analyst Rob Hahn highlighting the news in the Thursday edition of his email newsletter NotoriousROB.
Cleveland Appraisal Blog
FEBRUARY 16, 2024
It’s been a while since I’ve written an article. I miss writing and I miss you! So, first of all, thank you for being here to read articles from my blog! I’ve relied heavily on guest bloggers for a while, and so I’d like to also thank all of my guest bloggers who have provided meaningful content. I know most of my readers are interested in appraisal and real estate-related topics.
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Real Estate News
FEBRUARY 15, 2024
A statement of interest filed late Thursday by the Department of Justice savages the proposed MLS PIN settlement, and calls out MLSs for limiting competition.
Sacramento Appraisal Blog
FEBRUARY 14, 2024
Pulling comps in 2024 is tough. Think about it this way. If we have 40% fewer sales happening, that means there are 40% fewer comps. Yikes. Let’s talk about this. I also have some market recap visuals to unpack what’s been happening in 2024 so far. UPCOMING SPEAKING GIGS: 2/19/24 Matt the Mortgage Guy YouTube […] The post The challenge of pulling comps in 2024 first appeared on Sacramento Appraisal Blog.
Housing Wire
FEBRUARY 14, 2024
Real estate investors purchased 26.1% of the lowest-priced homes for sale in the U.S. in the fourth quarter of last year, according to a report by Redfin. It was the highest share ever recorded and was up from 24% in Q4 2022. By comparison, investors purchased 13.6% of the mid-priced homes (compared to 14.3% a year earlier) and 15.9% of the high-priced homes (compared to 15.4% a year earlier).
Inman
FEBRUARY 16, 2024
With a combined net worth of $125 billion after earnings this week, the mortgage giants remain on a path that could lead to eventual release from government conservatorship if political winds shift.
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Eyes on Housing
FEBRUARY 16, 2024
Despite weakness for single-family construction in 2023, townhouse construction recorded the best quarter for starts in more than 17 years. According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during the fourth quarter of 2023, single-family attached starts totaled 47,000, which is 27% higher than the fourth quarter of 2022.
Housing Wire
FEBRUARY 10, 2024
So far in 2024, fewer homes are taking price cuts than in 2023, and this trend is on the verge of breaking below the 2023 lows in price cuts percentages. While weekly inventory is still falling, we have year-over-year growth in total active listing and new listings data. This calls into question a mortgage rate lockdown, as mortgage rates are also higher year over year.
Inman
FEBRUARY 15, 2024
Broker and reality television legend Ryan Serhant headlines an all-star roster of the industry's most compelling voices for the second-annual Inman Global Real Estate Influencers program.
Real Estate News
FEBRUARY 15, 2024
The 30-year fixed rate rose to 6.77% this week, the highest level since mid-December.
Eyes on Housing
FEBRUARY 12, 2024
The median age of owner-occupied homes is 40 years old, according to the latest data from the 2022 American Community Survey[1]. The U.S. owner-occupied housing stock is aging rapidly especially after the Great Recession, as the residential construction continues to fall behind in the number of new homes built. New home construction faces headwinds such as rising material costs, labor.
Housing Wire
FEBRUARY 13, 2024
In January, the number of properties with a foreclosure filing inched up on both a monthly and a yearly basis, according to a report released Tuesday by Attom Data. In total, 33,270 U.S. properties received a default notice, were scheduled for auction or were undergoing bank repossession last month, up 10% from December and up 5% compared to a year ago.
Inman
FEBRUARY 16, 2024
Loan applications for new-home purchases were up 19 percent from a year ago in January, according to an MBA survey of builders that's been an accurate predictor of trends.
Real Estate News
FEBRUARY 16, 2024
While overall activity softened last quarter, real estate investors flocked to Chicago and cities in California in the hunt for lower-priced properties.
The Appraiser Coach
FEBRUARY 15, 2024
The short answer is, Yes. Check out this minisode to find out why and what is next for The Appraiser Coach.
Housing Wire
FEBRUARY 16, 2024
Today, housing starts fell more than anticipated , but the more important story in today’s report is that even though the apartment boom is dead, single-family permits are rising. The U.S. housing apartment boom ran into higher mortgage rates and more supply faster than anticipated, while single-family permits are still enjoying a world of sub-6% mortgage rates.
Inman
FEBRUARY 10, 2024
We're taking the opportunity to bring you some of the lesser-known stories you may have missed last week while you were reading about KW and NAR.
Real Estate News
FEBRUARY 14, 2024
CEO Rich Barton was bullish despite the challenging housing market, predicting double-digit revenue growth this year during a Feb. 13 earnings call.
George Dell
FEBRUARY 14, 2024
“Market” – A word poorly understood, and often misused. A gathering or place for buying and selling things. It can be physical, or virtual, and involves at least one third party for competition. Perfect competition is when you have many buyers and sellers. A real property market is seldom or never perfect. A “market” for […] The post What is The Market?
Housing Wire
FEBRUARY 15, 2024
Among homeowners who have a mortgage escrow account, only 52% fully understand how the account works, according to survey results released Thursday by property tax services provider LERETA. More than 80% of survey respondents said they know what an escrow account is and its primary purpose — to pay property taxes and other expenses, such as homeowners insurance , flood insurance and mortgage insurance premiums.
Inman
FEBRUARY 16, 2024
The Department of Justice said a proposed settlement in the major antitrust lawsuit might itself violate federal law and said buyers should negotiate their broker's commission directly.
Real Estate News
FEBRUARY 10, 2024
Superstars and stragglers might catch your attention, but agents in the middle — the slow-and-steady crowd — can supercharge your business, with some guidance.
The Appraiser Coach
FEBRUARY 13, 2024
I’ve talked many times about the principle of the mastermind. Napoleon Hill, who was one of the first people to talk about it, described it this way: when you get more than 2 people in a room with similar backgrounds, similar needs, and similar goals, then you form an additional entity (paraphrasing). This is the mastermind. It is the power of communication and connection with other people.
Housing Wire
FEBRUARY 13, 2024
Today’s CPI inflation report was the craziest inflation report I have ever seen in my life. The progress in inflation is still intact as we have fallen so much from last year’s growth rate, but the Owners’ Equivalent Rent of Residences (OER) inflation has diverged from all the shelter rent data in the most prominent fashion I have ever seen, which boosted this report higher than it should have been.
Inman
FEBRUARY 14, 2024
Lenders won't be required to use the more inclusive FICO Score 10T and VantageScore 4.0 scoring models before next year, but several are already using them to expand the pool of borrowers.
Real Estate News
FEBRUARY 13, 2024
While still posting a net loss, the company reported higher-than-expected revenue from its residential and rental businesses as Premier Agent held steady.
Eyes on Housing
FEBRUARY 15, 2024
Expectations that mortgage rates will continue to moderate in the coming months, the prospect of future rate cuts by the Federal Reserve later this year, and a protracted lack of existing inventory helped provide a boost to builder sentiment for the third straight month. Builder confidence in the market for newly built single-family homes climbed four points to 48 in.
Housing Wire
FEBRUARY 12, 2024
The worst times for mortgage originations may be over as the market appears to be turning, but it’s still an unaffordable environment for younger borrowers in particular, according to a fourth-quarter 2023 lending report from Maxwell. Loan volume between the third and fourth quarters declined by 21%, but that was far less than the 37% drop from Q3 2022 to Q4 2022, the report showed.
Inman
FEBRUARY 13, 2024
Mollie Poe and Declan Hickey were founding members of Compass San Francisco before leaving in 2020. Now, they're bringing four additional team members back to Compass with them.
Real Estate News
FEBRUARY 12, 2024
Rudy Wolfs joins Anywhere as CTO while Melissa McSherry announces plans to leave COO role; Nicole Booth joins Zillow's government relations team.
Eyes on Housing
FEBRUARY 13, 2024
Consumer prices picked up again in January while core prices remained elevated, especially housing costs. Despite a slowdown in the year-over-year increase, shelter costs continue to put upward pressure on inflation, accounting for over two-thirds of the total increase in all items excluding food and energy. This hotter-than-expected report will almost certainly delay Fed rate cuts until the second half.
Housing Wire
FEBRUARY 16, 2024
On average, members of the baby boomer generation saved approximately $4,060 over the course of 2023, lagging behind the average savings levels of every other surveyed generation. This is according to the newest edition of the “Wealth Watch” survey conducted by New York Life Insurance Co. By comparison, millennials (ages 28 to 43 last year) led all age groups with an average savings of about $9,300.
Inman
FEBRUARY 12, 2024
Brokerage leaders are still waiting to see the returns on their 2023 technology investments, according to the latest results from the Inman Intel Index. Read on for the biggest takeaways.
Real Estate News
FEBRUARY 16, 2024
A Wall Street Journal story portrays the National Association of Realtors as inflexible in the face of legal challenges to the industry’s commission structure.
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