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Have we seen the peak in housing inventory for 2024? The best part about 2024 has been that higher mortgage rates have created an inventory buffer, so if the economy gets softer and rates fall, we have many more homes to work with than we had in 2020-2023. I have consistently written that with mortgage rates above 7%, inventory should grow between 11,000-17,000 and this year it has happened six times perfectly in the channel.
I hear it all the time. “Five months of supply is a balanced housing market.” Is that really true though? Let’s unpack this today and digest the importance of narratives and national vs local stats. I know this sounds like geeky stuff, but it’s so important (see action steps). Any thoughts? I’VE BEEN GONE FOR […] The post Bro, is 5 months of supply really balanced?
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.
In 2022, I argued that the Federal Reserve won’t pivot until the labor market breaks. This means that the Fed will need to create such a slowdown in the labor market that nobody will question their action when they pivot. This is what I call the “cover cuts” policy. After today’s jobs report and the negative revision to this report and the previous ones, it is safe to say nobody outside of crazy people who want to see America go into a recession will question the Fed rate cut that will happen th
Douglas G. Duncan Douglas G. Duncan , current SVP and Chief Economist at Fannie Mae, has officially announced his retirement via a LinkedIn post late Friday afternoon. Duncan’s post on his LinkedIn page ended speculation of an impending retirement and exit from the GSE. “I noticed someone ran a story about me retiring, so I thought I had better do it,” said Duncan in his post.
Douglas G. Duncan Douglas G. Duncan , current SVP and Chief Economist at Fannie Mae, has officially announced his retirement via a LinkedIn post late Friday afternoon. Duncan’s post on his LinkedIn page ended speculation of an impending retirement and exit from the GSE. “I noticed someone ran a story about me retiring, so I thought I had better do it,” said Duncan in his post.
Buyers failed to bite this summer despite falling mortgage rates. It has agents about as down on their business prospects as they've been all year heading into the NAR settlement era, according to Intel's Client Pipeline Tracker.
With the calendar shifting to September and the next meeting of Federal Reserve policymakers only two weeks out, mortgage rates continue to recede and evidence suggests that borrowers are reacting to more favorable housing market conditions. At HousingWire ‘s Mortgage Rates Center on Tuesday, the 30-year rate for conforming loans averaged 6.60%, down from 6.64% one week ago.
In Q2 of 2024, ATTOM produced a Special Housing Risk Report that highlights county-level housing markets across the country that are more or less susceptible to falls based on home affordability, underwater mortgages, and other metrics. According to the analysis, the most at-risk markets in the nation are—once again—concentrated in California, New Jersey, and Illinois, with some of the largest clusters located in inland California as well as the New York City and Chicago regions.
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.
At Compass, Thor Brown will serve as director of luxury sales, while Sam Fingold will take on the role of luxury real estate advisor, according to South Florida Agent Magazine. Both will operate out of Compass’ Palm Beach Island office at 150 Worth Avenue.
Declining mortgage rates have yet to break the dam on the stalled housing market, but the sweet spot on rates that would get the market moving again is about 5%. That’s according to a new survey from Mphasis Digital Risk, which revealed that 42% of prospective buyers said a 5% rate would get them back in the market. An additional 27% said they’re targeting a 4% rate, while 20% say it’s 6%.
With the total number of homes on the market at its greatest point since May 2020 and interest rates about to start declining, buyers will have more options this autumn. The Realtor.com August Housing Trends Report shows that the number of homes actively for sale increased by 35.8% in August, marking the tenth consecutive month of growth in this number of properties.
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.
Jimmy Burgess and Andrew Undem share strategies for writing a compelling offer on behalf of buyers, closing more deals and building lifelong client relationships.
United Wholesale Mortgage (UWM) is rolling out a new 75 basis-point incentive program for conforming conventional and government-backed rate-and-term refinances. The program, dubbed “Refi75,” effectively replaces and expands on “Govy 125,” a 125-bps incentive that ended Tuesday for Interest Rate Reduction Refinance Loans (IRRRLs) through the U.S.
According to a new study from Redfin , condo prices are falling in major Florida and Texas metros, as inventory piles up and buyers back off, as high HOA fees and insurance costs are making condos a tough sell in this current marketplace. In Tampa, the number of condos for sale soared 57.2% from a year earlier in July 2024, pending sales dropped 18.9% and the median sale price fell 4.9%.
Amid the current economic turmoil, including fears of a potential recession and recent significant stock market declines, real estate professionals must remain vigilant and adaptable, Victoria Kennedy writes.
Corcoran Icon adds Silicon Valley office; @properties IND grows; E&V expands in Costa Rica; CB nabs $1B team; C21 adds two firms; Realty ONE hits milestone.
Mortgage rates remained flat following a jobs report on Friday that continued to show a cooling labor market. Mortgage rate pricing for homebuyers hasn’t changed significantly as lenders have already priced in a Federal Reserve rate cut of 25 basis points (bps) that is expected later this month, loan originators told HousingWire. Kevin Leibowitz, president of Grayton Mortgage , said he was quoting 6.125% for a 30-year conventional mortgage of $400,000 on Friday with no discount points.
Renting, traditionally seen as a more affordable option compared to homeownership, has become increasingly expensive in many of the nation’s largest cities. A recent analysis by LendingTree , using data from the U.S. Department of Housing and Urban Development (HUD) , paints a stark picture of how Fair Market Rents (FMRs) for one- and two-bedroom units have surged across the country over the five-year span of 2019-2024.
Getting ready to be coached isn't just about wanting to change, coaches Melanie Klein and Emily Bossert write. It's about being prepared to do the work it will take to change.
With new industry practice changes now in effect, agents can face real consequences for breaking the rules. MLSs — and brokerages — are trying to help.
The reverse mortgage industry is pressing ahead with a chance at lower interest rates later this month. While there were signs of weakness in performance metrics in August, there are also commensurate signs of encouragement, according to industry experts. Home Equity Conversion Mortgage (HECM) endorsements fell by 3.3% from July to August, with the total of 2,200 falling reasonably in line with Federal Housing Administration (FHA) HECM case numbers that posted their own gains in July.
A recent study has brought to light the financial advantages of working with Independent Mortgage Brokers, underscoring the significant savings and inclusive support they offer to a diverse range of homebuyers. The study, conducted by Polygon Research and backed by Willow Canyon Advisors and United Wholesale Mortgage (UWM) , analyzed 2023 data, and found that consumers who choose Mortgage Brokers over nonbank retail lenders can save an average of $10,662 over the life of their loan.
Do we still want to work like it's 1999? No, that's why agents need to ask themselves what they really want their work, life and compensation to look like moving forward, Rachael Hite writes.
The Consumer Federation of America (CFA) is calling for policy changes that would help alleviate the difficulties for homebuyers using Federal Housing Administration (FHA) loans when competing in tight markets. Buyers using FHA loans often face stigmas and cannot use many of the competitive strategies commonly utilized by conventional borrowers and cash buyers, according to a recent report from the CFA. “As first-time homebuyers and homebuyers of color disproportionately rely on FHA, the
In the four weeks that ended on August 25, pending home sales dropped 6.9%, marking the worst annual loss in almost a year, according to a new study from Redfin. This is true even as the weekly average mortgage rate drops to its lowest point in 15 months and the median monthly home payment in the U.S. reaches its lowest point since February. Key Indicators of Homebuying Demand & Activity: The daily average 30-year fixed mortgage rate was 6.37% (as of August 28), nearing the lowest level sinc
Strategic partnership with D2 Asset Management will help shared equity pioneer go nationwide, after signing home equity agreements with more than 10,000 homeowners in 16 states.
The “free” ride may not last as officials seek solutions for a deflationary economy and a glut of homes — the mirror image of what the U.S. is dealing with.
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