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Todays new home sales report beat market expectations, just like last weeks existing home sales report. However, a detailed analysis of the data explains why housing permits continue to remain at recession-level figures. Builders are struggling to get clarity on how many homes they can sell in this rate environment in the future. Without more clarity on mortgage rates , substantial growth in housing permits is unlikely.
Whilescheduled foreclosure auctions slightly increased from a two-year low in the previous quarter, the supply of properties available to purchase at foreclosure auction fell to a three-year low in Q4 of 2024. This suggests that completed foreclosure auctions may also slightly increase in Q1 of 2025, according to new Auction.com data. Although interest for properties up for foreclosure and bank-owned (REO) auctions declined overall in Q4, continuing a downward trend that began late in the second
Time adjustments are now required by Fannie Mae and Freddie Mac. Time adjustments were previously required when necessary. Now a market conditions adjustment isrequired on every appraisal. This means that even if personal judgment says the subject market is stable, ananalysis must be performedto arrive at the zero adjustment conclusion. An FHFA (Federal Housing Finance […] The post What Time is It?
Most sellers dont know much about MLSs or private listing networks but they want an agent who can get their listing in front of the largest pool of buyers.
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.
The housing market in 2024 was about as frustrating for the real estate industry as you can imagine. High mortgage rates, low inventory and sky-high prices resulted in historically low sales at a time when agents are already wrestling with the changes related to the $418 million antitrust settlement signed by the National Association of Realtors (NAR).
According to a recent Redfin study, housing prices and mortgage rates are still high, and home sales are at their weakest pace since the pandemic began. Not only are properties selling more slowly, but there are also fewer residences being turned over. Prospective buyers have been cautious because theyve seen homes sitting on the market and theyve heard interest rates and prices may drop.
According to a recent Redfin study, housing prices and mortgage rates are still high, and home sales are at their weakest pace since the pandemic began. Not only are properties selling more slowly, but there are also fewer residences being turned over. Prospective buyers have been cautious because theyve seen homes sitting on the market and theyve heard interest rates and prices may drop.
The housing market is heating up, but it’s not blazing hot. The temperature so far in January feels warmer than anything. In other words, we’re seeing some spring vibes, but it hasn’t been completely insane. Let’s unpack that today. Scroll quickly by topic or digest slowly. Any thoughts? UPCOMING SPEAKING GIGS: 1/31/25 Prime Real Estate […] The post The housing market is warm.
Less stringent requirements for consumer contact will stay in place for a year, FCC says, as it delays TCPA changes that wouldve required one-to-one consent.
New home sales continue to be a bright spot in a dismal housing market. The December report from the U.S. Census Bureau and Department of Housing and Urban Development shows new-home sales registering at a seasonally adjusted annual rate of 698,000, good for a 6.7% rise year over year and 3.6% higher than November. Even better, new home sales for the calendar year 2024 are estimated at 683,000, which is 2.5% more than 2023 and the highest sales have been since 2021.
The migration landscape across the U.S. remained dynamic in 2023, with approximately 7.5 million Americans moving to a different state, according to a new StorageCafe study. While this figure aligns with trends over the past decade, moving within the same state has reached historic lows, dropping to just over 9% of the population. The southern U.S. continues to dominate state-to-state migration, with seven of the top ten states for net migration located in the region.
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.
Sales were up at the end of 2024, and for the full year, increased by 2.5% over 2023 in contrast to existing home sales, which fell short of 2023 numbers.
Pending home sales ended the year on a down note, according to data published on Thursday by the National Association of Realtors (NAR). Compared to a month prior, contract signings fell 5.5% in December, with the Pending Home Sales Index coming in at a reading of 74.4. An index reading of 100 is equal to the level of contract signings in 2001. Annually, pending home sales were down 5.0% compared to a year prior in December.
According to a recent Redfin survey, renters must make $63,680 to cover the median asking rent for a U.S. apartment ($1,592), the lowest amount required since March 2022. That represents a 6.4% decrease from August 2022, when the median asking rent reached an all-time high of $1,700, and a 0.4% decrease from a year ago. The average apartment would have cost $68,000 to rent back then, which is almost $5,000 more than it is now.
Court documents lay out the details of the landmark Sitzer/Burnett settlement, including whos in (covered parties and opt-ins) and sellers who opted out.
The Federal Reserve didnt raise or cut interest rates today, but the meeting highlighted something I have been emphasizing since 2022: the Fed is shaping its policy around the labor market more than inflation. Both times when mortgage rates fell without Fed rate cuts (in late 2022-early 2023 and in mid-2024), it was primarily due to the economic and labor scares.
The U.S. Census Bureau and the U.S. Department of Housing & Urban Development (HUD) have released their new residential sales statistics for December 2024 , which found that sales of new single-family homes were at a seasonally adjusted annual rate of 698,0003.6% above the revised November rate of 674,000, and 6.7% above the December 2023 estimate of 654,000.
Despite challenges, municipalities are increasingly open to micro-unit developments as they seek innovative solutions to the affordability crisis, multifamily expert Michael Zaransky writes.
Nationstar Mortgage currently doing business as Mr. Cooper has agreed to settle a lawsuit which alleges that the company violated mortgage servicing laws and forced borrowers into foreclosure. Attorneys general and mortgage regulators in 50 states, as well the District of Columbia, agreed to a settlement that requires Mr. Cooper to provide $5.8 million in payments to eligible borrowers.
The S&P CoreLogic Case-Shiller Indices results for November 2024 have been published by S&P Dow Jones Indices (S&P DJI) in a new report. In November 2024, the leading indicator of U.S. home prices had an annual gain of 3.8%, which was marginally higher than the increases in 2024. With the exception of pockets of above-trend performance, national home prices are trending below historical averages, said Brian D.
Sixty-nine percent of agents since 2020 have recommended their sellers list on a private listing network. However, sellers still favor listing on the multiple listing service, a Zillow survey said.
Real estate leaders are getting more comfortable with artificial intelligence and expect it to redefine operational efficiency in 2025, a new survey found.
Remote work has become indispensable in todays interconnected environment. Yet the convenience of working outside a centralized office also expands the potential for cyber threats. This installment of our Reducing Risk series examines how Multi-Factor Authentication (MFA) can help protect your remote access systems, reduce the risk of unauthorized access, and strengthen overall cybersecurity.
A report on the financial results for borrowers of cash-out refinance mortgages has been released by the Consumer Financial Protection Bureau (CFPB). Credit scores for cash-out debtors first improved significantly before progressively declining. However, overall scores continued to be higher than they were before to the refinance. According to CFPB research, debtors frequently use the proceeds from cash-out refinances to settle other debts, especially credit card and auto loan debt.
The Pending Home Sales Index (PHSI), which tracks contract signings as a measure of future home sales, fell 5.5 percent to 74.2 in December, according to data released Thursday by the National Association of Realtors.
Recently, weve shared that the inventory of unsold homes is growing. In recent weeks, home sales also faltered in the face of 7% mortgage rates. Now were noticing some signals in the data that national home prices could turn negative this spring, showing year-over-year home-price declines for the first time since early 2023. There are already plenty of markets nationwide where the inventory of unsold homes has built up over the past few years and home prices have ticked down.
For many Americans, owning a home signifies independence, stability, and the opportunity to accumulate long-term wealth, among other things. Homeowners, however, are aware that although those advantages are genuine, they are not given away for free. The American Dream has long been considered one of the pinnacles of success, and owning a home remains a popular and important aspiration for tens of millions of Americansregardless of whether they are renting, living with relatives or friends, or su
Led by Tony and Brooke Clement or RE/MAX Properties and Scott and Traci O'Connor of RE/MAX Advantage, the newly combined firm brings over 65 years of real estate expertise.
Brokerage leaders, data scientists and other experts have helped paint a picture of the scope and impact of the California wildfires on the LA housing market.
The U.S. system for the transfer of real estate is unique in the world. We transfer ownership by private contract between parties; no advance government approval is required. By contrast, many European countries have a centralized, government-managed land registration system, which requires government review before property transfers are effective. Among the many benefits of the U.S. system are the speed of the transfer, which in our system depends only on the parties being ready to close.
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