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million, according to data released Wednesday by the National Association of Realtors (NAR) On a year-over-year basis, existing-home sales were down 3.5% And while the slower sales pace may not be great news for real estate professionals, it has resulted in an uptick in inventory , which is good news for homebuyers. After falling 2.5%
In this HousingWire Executive Conversation, Tom Davis, Chief Sales Officer at Deephaven , discusses the opportunities in the non-QM investor loan space as we head into the new year. Tom Davis: Investor transactions are still close to 28% of the overall purchase market. Many investors prefer to close in the name of an LLC.
million, according to data released Thursday by the National Association of Realtors (NAR). The worst of the downturn in home sales could be over, with increasing inventory leading to more transactions,” NAR chief economist Lawrence Yun said in a statement. Inventory was up 19.1% month over month in October to 3.96
The National Association of Realtors reports that existing-home sales increased in November. More buyers have entered the market as the economy continues to add jobs, housing inventory grows compared to a year ago, and consumers get used to a new normal of mortgage rates between 6% and 7%. Three major U.S. from October to 4.15
Despite all the external factors cooling down overall home sales – high interest rates, less spending power among residents, lack of inventory— real estate transactions are still hot in certain key areas. Given what is indicated in the National Association of REALTORS report on international transactions, it may not be the buyer you expect.
million, according to the National Association of Realtors. You can thank a rise in housing inventory for the gains. million in June 2020 as housing inventory has slowly improved in recent months. Total housing inventory at the end of June amounted to 1.25 from May’s inventory and down 18.8% Sales climbed 22.9%
For the second consecutive month, existing-home sales fell, according to the latest National Association of Realtors report. The sales for March would have been measurably higher, had there been more inventory.” ” Total housing inventory at the end of March amounted to 1.07 from February’s inventory but down 28.2%
It boils down to two factors, according to housing-industry experts: a lack of housing inventory , or supply; and high demand for that limited housing stock — which also is fueling a jump in new-home sales. In other words, if there were more inventory, we would have more sales happening.” Just because there’s vacant homes in the U.S.
The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. NAR lists the current inventory at 1.22 million, with a peak in 2007 a tad over 4 million.
Key non-QM products for 2025 Before 2025 continues, lenders should arm themselves with the right tools for tackling the market: Investor loans Investing is the vehicle to success for homeowners in the market. million, so its primed and ready to meet the needs of most property investors. How are real estate investors responding?
In a bidding war, cash buyers and investors will win, and first-time buyers will lose. If we shut off access to real estate services for first-time and entry-level buyers, if investors snatch up the inventory and turn them into rentals, what will our industry look like in a decade or two? What does that mean in the long term?
The debate surrounding the National Association of Realtors (NAR) Clear Cooperation Policy is raging on. I think that a prudent Realtor would have an actual conversation where they discuss the benefits and burdens of being on the MLS, Bregman said. Pareja isnt the only executive who feels this way.
The monthly Realtors Confidence Index helps to dispel many of the myths and cut through the noise of what is currently happening in the market. The National Association of Realtors Research Group has produced the index since 2008, at a time of turmoil in the real estate market.
million, according to the National Association of Realtors (NAR). The inventory of unsold existing homes climbed 5.1% Mortgage rates have not changed much, but more inventory and choices are releasing pent-up housing demand. Individual investors or second-home buyers, The post NAR: Existing-Home Sales Jumped 4.2
The claim by the authors that single-family rental home companies “swoop up much of the inventory” of homes from potential homebuyers is, in fact, not supported by the data in any way, shape, or form. of the nation’s total housing inventory. Rather, large companies own less than 1.5%
The National Association of Realtors reported that existing home sales for February came in as a miss of estimates at 6.02 Inventory has broken to all-time lows, but it doesn’t look like the year-over-year data will be positive at all this year unless demand softens up. NAR Research : Unsold inventory sits at a 1.7-month
The monthly Realtors Confidence Index is an essential measure of what real estate professionals are seeing in their local markets and how the market is evolving on a monthly basis. The National Association of Realtors Research Group has produced the index since 2008, a time of turbulence in the real estate market.
Cincinnati is a great place to live,” said Julie Back , the executive sales vice president of Sibcy Cline Realtors. Although there is no doubt among local real estate professionals that demand is high in the Cincinnati housing market, agents say the area’s low inventory situation is only adding to the challenge facing consumers.
The National Association of Realtors (NAR) reported that existing home sales for April came in at 5.41 Now that we are almost in July, we can safely say the premise that once mortgage rates hit 4%, the mass panic selling of American homeowners who need to get out at all costs, driving total inventory up in the millions, hasn’t happened.
in March compared to February despite rising mortgage rates , according to data released Thursday by the National Association of Realtors (NAR). Meaningful gains will only occur with declining mortgage rates and rising inventory.” Existing-home inventory in March improved 14.4% Pending home sales increased by 3.4%
Low levels of for-sale inventory, high mortgage rates, and record-high home prices continue to hamper existing-home sales. According to the May 2024 existing-home sales report from the National Association of Realtors (NAR), sales volume fell 2.8% Rising prices are occurring even as unsold inventory continues to grow.
compared with November 2023, according to the National Association of Realtors (NAR). More buyers have entered the market as the economy continues to add jobs, housing inventory grows compared to a year ago, and consumers get used to a new normal of mortgage rates between 6 percent and 7 percent. Existing-home sales increased 4.8%
The last year has been a completely split housing market — one that started with the lowest inventory NAR has recorded dating back to 1999 and one with low mortgage rates. offers, according NAR’s REALTORS® Confidence Index. At the height of the spring market, the typical home had 5.5
million existing homes were sold, according to the National Association of Realtors. High rates further exacerbated the national inventory shortage and contributed to the surge in home prices. of investors have priced in a cut of at least a quarter point in March. In 2023, only 4.09 On Monday, meanwhile, 97.9% With the U.S.
Today the National Association of Realtors reported existing home sales for the month of December were at 6,760,000, a beat of estimates. Also covered in the NAR report was housing inventory. Inventory is at all-time lows of 1.9 For context, inventory does tend to fall toward the end of the year and stay low until spring.
But, there is one bright spot — inventory is rising. This has been a concern of mine after the summer of 2020 as inventory levels were breaking all-time lows, facilitating unhealthy home price growth during a more prominent demographic patch in U.S. The one positive: Inventory is rising. Once total inventory levels reach 1.52-1.93
The National Association of Realtors ‘ existing home sales report for October came in at a solid beat of estimates at 6.34 Not bad considering the low inventory and all that unhealthy home price growth we have seen since the start of 2020. There has been a lot of hype that this entire housing market is driven by investors.
Despite Inventory Rise, Home Buyers Remain Cautious Source: [link] More listings are coming to the real estate market, but home sales continue to be sluggish. There are more inventory choices for consumers, lower mortgage rates than a year ago and continued job additions to the economy. Housing inventory was up 1.5%
The National Association of Realtors reported that existing home sales for January came in as a big beat at 6.5 When you add move-up, move-down, cash and investor buyers into the mix, you will have steady replacement buyer demand from 2020-to 2024. Also, we are starting the year with fresh new all-time lows in inventory.
From the National Association of Realtors : “The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, rose 7.5% “This solid buying is a testament to demand still being relatively high, as it is occurring during a time when inventory is still markedly low.” in October.
Real estate agents in the leafy suburbs of Bergen County, New Jersey say the current housing market — with historically low inventory and record-high prices — is actually more challenging than the multiple offer chaos they sweated through during the pandemic. “At We are still going to suffer from lack of inventory.”
In assessing blame for a high-demand, low inventory housing market, one finger is pointed at companies that purchase single-family homes as an investment. Moving in: Big investors,” reads a Reuter’s headline from this July. “A Meanwhile, Redfin released a report with the headline: “Investors bought a record 18% of U.S.
“Purchase activity has slowed to a virtual standstill, affordability remains a significant hurdle for many and the only way to address it is lower rates and greater inventory.” The National Association of Realtors (NAR) also forecasts that existing-home sales will drop by 17.5% in 2023, reaching an annualized rate of 4.15
” Khater added that purchase application demand is improving, but very low inventory is the major obstacle to higher home sales. While borrowers weigh the benefits of refinancing their mortgage, in the purchase market, they still face rising prices and a lack of inventory. The lack of inventory is not expected to improve soon.
From the National Association of Realtors : Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – bounced 9.5% Here is some perspective on the NAR active inventory data: Since 1982, traditional normal inventory levels range between 2 million and 2.5
This has led to a rise in foreign investor purchases of U.S. Khater said that homebuyers are soaking up all available inventory, which has improved slightly, while home-price growth is also moderating. Housing demand is strong heading into the fall, despite fast-rising home prices and low inventory,” said Kan.
Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. Of course this isn’t the healthiest housing inventory story. from the previous year ($375,300). All four U.S.
In down markets, the best agents and the best brokerages gain market share,” Reffkin, the CEO of Compass, told investors and analysts during his firms first-quarter 2024 earnings call on Wednesday evening. “We We have brought down expenses and continue to grow our agent count and inventory advantage,” Reffkin said.
The National Association of Realtors reported Thursday that existing home sales for April came in at 5.61 This is something that I said would change the tone of housing, and we are seeing that result this year as sales decline and inventory picks up. Inventory is always seasonal. Today inventory levels are at 1.02
“Although low and stable mortgage rates have kept the housing market booming over recent months, a deterioration in affordability and for-sale inventory has led to a market slowdown.”. Borrowers are still shopping at a feverish pace, at least by historic standards.
Higher interest rates , shrinking Agency business and low inventory still threatens volume. Realtors , small business owners, gig workers, freelancers, real estate investors, CPAs, doctors and lawyers with their own practices all could be a non-QM borrower. Non-QM isn’t established simply because loans fall-out of Agency.
compared with February 2023, according to the National Association of Realtors (NAR). Helping to boost existing-home sales in February was that inventory increased 1.07 Individual investors or second-home buyers, who make up many cash sales, purchased 21% of homes in February, up from 17% in January and 18% in February 2023.
Homebuyers flocked to what little inventory existed in January, with existing-home sales rising 6.7% annually to $350,000, according to the Friday report from the National Association of Realtors. from the prior month to a seasonally adjusted annual rate of 6.5 January sales fell 2.3% from a year ago. That translates to just 1.6
The National Association of Realtors reported that existing home sales for March came in as a miss of estimate at 5.77 However, the real story of 2022 is that the savagely unhealthy housing market continues as inventory is still lower than last year, sending home prices growth into double digits again. Unsold inventory sits at a 2.0-month
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