Housing Wire
SEPTEMBER 27, 2023
After experiencing a temporary hiccup between July 2022 to January 2023, the U.S. housing market is back on track , stronger than ever, with a total estimated value of $52 trillion, according to a new analysis by Orphe Divounguy, a senior economist at Zillow Group. Over the past year, the value of the U.S. housing market has surged by more than $2.6 trillion.
Sacramento Appraisal Blog
SEPTEMBER 27, 2023
Travis Kelce, Taylor Swift, and mortgage rates. So much drama this week. Let’s talk about it. Today I have some thoughts about believing the Fed, Chuck Norris, and building a bigger network. This post is all over the place, but hopefully something resonates. UPCOMING (PUBLIC) SPEAKING GIGS: 9/28/23 Yuba City Big Market Update (in Yuba […] The post Chuck Norris eats 8% rates for breakfast first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
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Real Estate News
SEPTEMBER 26, 2023
Industry heavyweights — and former rivals — Spencer Rascoff and Glenn Kelman addressed some of the toughest issues facing real estate in a lively discussion.
Inman
SEPTEMBER 25, 2023
Across the real estate sector, multigenerational living has emerged as a beneficial solution for many families. As the older generation ages, they’re cared for by loved ones. Younger generations are supported by their parents in sharing the costs and responsibilities of homeownership, and grandparents are available to help raise grandchildren.
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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.
Housing Wire
SEPTEMBER 29, 2023
Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. According to the brokerage, 6.5% of U.S. homes for sale posted a price cut during the four weeks ending September 24, up from 5.8% the month prior. In some markets, more than 50% of active listings have experienced a price cut, according to Altos Research.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Real Estate News
SEPTEMBER 26, 2023
Prices in July topped last year’s high, but slowing demand due to elevated mortgage rates is expected to bring price declines and soften new home sales.
Inman
SEPTEMBER 25, 2023
The 2023 real estate market has been a bit of a conundrum for agents and brokerages. Mortgage rates are high, listing prices are elevated, and housing inventory is limited. Construction of new homes is largely stalled or at least not meeting the high demand, and many homeowners who locked in record-low interest rates during the pandemic simply aren’t willing to leave their homes and sell.
Housing Wire
SEPTEMBER 26, 2023
Available inventory of homes for sale is on the rise in late September, which is very unusual for this time of year. In fact, inventory is growing faster than this time a year ago. This is a demand-driven slowdown, because new listings supply is still running 9% to 10% fewer homes for sale each week than this time last year. We’re seeing fewer new sellers each week, but inventory is building as homebuyers wait to see if mortgage rates will come down to make purchases more affordable.
The Appraiser Coach
SEPTEMBER 26, 2023
People have often seen the relationship between the “good cop” and the “bad cop” in a variety of situations. Does this dichotomy exist in your office? Although the size of.
Advertiser: Trellis
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Real Estate News
SEPTEMBER 28, 2023
Even as interest rates climb, home prices aren't budging, a combo which may "put the brakes on the housing market.
Inman
SEPTEMBER 25, 2023
When we talk about real estate, we talk about people; when we talk about the people in real estate, we talk about collaboration.
Housing Wire
SEPTEMBER 26, 2023
After a boost in July, the sales pace of new homes slowed in August, according to data published on Wednesday by the U.S. Census Bureau and the Department of Housing and Urban Development ( HUD ). In August, the sales pace of new homes fell 8.7% compared to July , reaching a seasonally adjusted annual rate of 675,000. On a year-over-year basis, new home sales were up 5.8%.
Eyes on Housing
SEPTEMBER 25, 2023
Of the roughly 1,005,000 single-family and 547,000 multifamily homes started in 2022, 59,000 (28,000 single-family and 31,000 multifamily) were built in age-restricted communities, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by HUD). A residential community can be legally age-restricted, provided it conforms the one of the.
Real Estate News
SEPTEMBER 28, 2023
The decline could mark "the beginning of the end of this resilient housing market," according to one economist.
Inman
SEPTEMBER 25, 2023
The company is currently facing lawsuits from more than a half-dozen states over its allegedly deceptive business practices.
Housing Wire
SEPTEMBER 25, 2023
Right-to-list agreement firm MV Realty has filed for Chapter 11 bankruptcy in 33 states. The story was first reported by CBS News. MV Realty currently faces lawsuits in multiple states for allegedly misleading consumers and homeowners. In addition, the Florida-based firm has been essentially banned from operating in 14 states through legislation. MV Realty operated in 33 states and has more than 500 real estate agents.
Eyes on Housing
SEPTEMBER 27, 2023
Lot values for single-family detached spec homes continued to rise in 2022, with the national value and six out of nine Census divisions setting new nominal records, according to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data. The U.S. median lot value for single family detached for-sale homes started in 2022 stands at $56,000, with half of.
Real Estate News
SEPTEMBER 29, 2023
The French company has over 20,000 agents across Europe and Mexico, and now it’s ready to stake a claim in the lucrative U.S. market.
Inman
SEPTEMBER 26, 2023
Chris Smith joins Keller Williams from Latter & Blum. The move comes as major real estate brands compete intensely for top talent.
Housing Wire
SEPTEMBER 26, 2023
After three consecutive months of annual price declines, home prices in July were up 0.98%, according to the S&P CoreLogic Case-Shiller Home Price Index. Month-over-month, the U.S. National Index posted an increase of 0.6%, while the 10-City posted a 0.8% increase and 20-City Composite a 0.9% increase. “U.S. home prices continued to rally in July 2023,” Craig Lazzara, managing director at S&P DJI , said.
Eyes on Housing
SEPTEMBER 28, 2023
According to the annual data from the Census Bureau’s Survey of Construction (SOC), a total of 29,000 5,000+ square-foot homes were started in 2022, down from 33,000 in 2021. In the boom year of 2006, the number of new 5,000+ square foot homes reached a peak of 45,000. In 2007, the number fell to 37,000. In 2008, only 20,000 such homes were.
Real Estate News
SEPTEMBER 29, 2023
Chief Growth Officer Michael Valdes says eXp doesn’t “recruit” agents in a transactional sense, but seeks to “attract” for long-term growth and success.
Inman
SEPTEMBER 29, 2023
New Inman contributor Nick Boniakowski digs into the latest research on buyer desires to find out how to meet the needs of more intentional home searches.
Housing Wire
SEPTEMBER 28, 2023
Mortgage rates climbed again this week as investors braced themselves for ‘higher-for-longer’ conditions following last week’s Fed meeting. Additionally, the yield on 10-year treasuries shot up to 4.6% on September 27 from 4.3% a week prior. Just before noon on Thursday, they were 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 7.31% as of Sept. 28, up 12 basis point from last week ’s
Eyes on Housing
SEPTEMBER 26, 2023
Elevated mortgage rates and challenging affordability conditions pushed new home sales down to their weakest rate since March. Sales weakened in August with average mortgage rates above 7%. While some builders were able to offset that effect via mortgage rate buydowns, rates moved higher this month, suggesting the pace of new home sales will weaken further for September.
Real Estate News
SEPTEMBER 25, 2023
Housing market impacts could include mortgage delays, declining consumer confidence and — perhaps — a small dip in mortgage rates.
Inman
SEPTEMBER 26, 2023
Sales of newly built homes dropped 8.7 percent in August to a seasonally adjusted annual rate of 675,000.
Housing Wire
SEPTEMBER 26, 2023
New home sales missed estimates today but had three months of positive revisions, which continues the story of the builders managing the higher mortgage rate environment. But they still only have 76,000 completed units for sale today. That’s right — for all the hype of massive housing inventory coming from the builders, today we sit here still trying to work back to pre-COVID-19 levels with just 76,000 completed homes ready to be moved.
The Appraiser Coach
SEPTEMBER 26, 2023
People have often seen the relationship between the “good cop” and the “bad cop” in a variety of situations. Does this dichotomy exist in your office? Although the size of your team as a small business owner may be modest, this tactical approach is not a bad thing to utilize when difficult conversations need to be had. When this occurs, the question is not if, not when, but who.
Real Estate News
SEPTEMBER 27, 2023
The acquisition of Realty Austin and Realty San Antonio will significantly boost Compass' annual sales volume in Texas.
Inman
SEPTEMBER 28, 2023
Artificial intelligence tools like ChatGPT provide unprecedented leverage when you know how to use them effectively. Jimmy Burgess and Andy Beal offer strategies to help you make the most of this game-changing tech.
Housing Wire
SEPTEMBER 27, 2023
A record 26% of homebuyers are looking to move to a different part of the country, up from 24% a year ago and 19% before the pandemic began, a new Redfin report found. Redfin grounded this study on the searches of about two million Redfin.com users who viewed for-sale homes online across more than 100 metro areas from June 2023 to August 2023. Amid elevated mortgage rates and a lack of local housing inventory , homebuyers are searching for more affordable options, boosting relocations rather tha
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