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.

Inventory 524

Inventory Construction Housing Market Marketing 524

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.

Mortgage 325

Mortgage 325

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.

Real Estate 316

Real Estate Appraisal Mortgage Marketing 316

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.

Agents 206

Agents Real Estate 206

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.

Housing Market 521

Housing Market Marketing Inventory Construction 521

Real Estate News

SEPTEMBER 29, 2023

A jury decided that Zillow did not harm The Real Estate Exchange, known as REX, by moving its listings to a secondary tab with less traffic.

Real Estate 321

Real Estate 321

Inman

SEPTEMBER 29, 2023

It takes a highly qualified real estate agent to perform at the level that some of the world's wealthiest celebrities demand. Here are the top ones serving Hollywood, according to "The Hollywood Reporter.

Real Estate Agent 198

Real Estate Agent Real Estate Agents 198

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.

Sellers 516

Sellers Buyers Real Estate Agent Inventory 516

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.

Housing Market 317

Housing Market Mortgage Marketing 317

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.

Inspection 195

Inspection Advertising Business Real Estate Agent 195

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.

Real Estate 199

Real Estate 199

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%.

Inventory 511

Inventory Buyers Construction Sellers 511

Real Estate News

SEPTEMBER 25, 2023

Housing market impacts could include mortgage delays, declining consumer confidence and — perhaps — a small dip in mortgage rates.

Government 312

Government Real Estate Housing Market Mortgage 312

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.

Legal 187

Legal Construction 187

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.

Buyers 197

Buyers Agents Marketing 197

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.

Inventory 505

Inventory Contracts New Listings Mortgage 505

Real Estate News

SEPTEMBER 28, 2023

The decline could mark "the beginning of the end of this resilient housing market," according to one economist.

Housing Market 306

Housing Market Marketing 306

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.

Mortgage 187

Mortgage 187

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.

Inventory 197

Inventory Brokerage Construction Real Estate 197

Housing Wire

SEPTEMBER 24, 2023

Mortgage rates shot up last week after a hawkish Federal Reserve meeting, even though they didn’t raise rates. In addition, jobless claims data had another solid print, showing that the labor market hasn’t broken yet, which led to more selling of the 10-year yield. Mortgage rates did find some relief on Friday as bond yields headed lower. On housing inventory , new listings data saw a small decline last week, but active listings grew at a healthy clip.

Mortgage 501

Mortgage Inventory New Listings Housing Market 501

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.

Real Estate 306

Real Estate 306

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.

Construction 179

Construction 179

Inman

SEPTEMBER 25, 2023

The company is currently facing lawsuits from more than a half-dozen states over its allegedly deceptive business practices.

Realty 197

Realty Business Brokerage Agents 197

Housing Wire

SEPTEMBER 28, 2023

Mirroring the trend for new home sales , pending home sales fell 7.1% in August, according to data released Thursday by the National Association of Realtors (NAR). All four regions of the U.S. posted month-over-month and year-over-year declines in transactions. Year over year, pending home sales were down 18.7%, an even greater decrease than the 14% annual drop recorded in July.

Housing Market 497

Housing Market Contracts Government Buyers 497

Real Estate News

SEPTEMBER 24, 2023

The latest installment of Zillow's annual trends report offers insights into prospective buyers' needs and motivations, and how agents can add value.

Buyers 299

Buyers Agents 299

Eyes on Housing

SEPTEMBER 29, 2023

NAHB analysis of the Census Bureau’s quarterly state and local tax data shows that $132 billion in taxes were paid by property owners in the second quarter of 2023 (not seasonally adjusted).[1] In the four quarters ending Q2 2023, state and local governments collected $727 billion of property tax revenue—a 7.4% increase over Q2 2022. The year-over-year growth rate of.

Property Taxes 178

Property Taxes Government Finance 178

Inman

SEPTEMBER 23, 2023

As a new agent, it can be hard to separate fact from fiction, coach and author Darryl Davis writes. Find out what's no longer true so that you can chart a course for your career.

Real Estate Agent 197

Real Estate Agent Agents Real Estate Marketing 197

Housing Wire

SEPTEMBER 28, 2023

Real estate media just got funnier as Actually Agents will join The Broke Agent within BAM , a real estate media company. While continuing to operate independently, Luca Alboretti of Actually Agents and Eric Simon of The Broke Agent will “collaborate to produce funny and engaging content that both entertains and educates real estate professionals,” BAM announced in a press release Thursday.

Agents 492

Agents Real Estate Agent Real Estate Tools 492

Real Estate News

SEPTEMBER 23, 2023

NorthstarMLS CEO Tim Dain offers his tech-forward view of the future, which includes transparency, consolidation and richer listings content.

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299

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.

Construction 174

Construction 174

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.

Tools 195

Tools Technology Agents Marketing 195

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

Mortgage 488

Mortgage Inventory Investors Sellers 488

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.

Agents 290

Agents 290

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.

Business 150

Business Appraisal Inspection Advertising 150