Housing Wire

APRIL 15, 2022

We’ve all been wondering what 5% plus mortgage rates would do to the hot housing market, and now we’ve got that and a bag of chips. As a result, I’ve been rooting for mortgage rates to rise to create a balancing impact on this housing market. Some data to consider: 1. million at the end of 2017 to 4.98

Mortgages 511

Mortgages Marketing Sales Days on market 511

Housing Wire

MARCH 21, 2023

9, when mortgage rates started to fall from 7.37% to 5.99%. In 2022, it was all about affordability as mortgage rates had a historical rise. Even though mortgage rates were falling in November and December, positive purchase application data takes 30-90 days to hit the sales data. million in February 2022).

Sales 511

Sales Mortgages Bankruptcy Marketing 511

Housing Wire

MARCH 6, 2024

Housing professionals already know that high mortgage rates are bad for business. But with mortgage rates ascending past 7% according to HousingWire’s Mortgage Rates Center , those hopes have so far been dashed in 2024. Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates.

Mortgages 468

Mortgages Days on market As-is Sales 468

Housing Wire

DECEMBER 21, 2022

“In essence, the residential real estate market was frozen in November, resembling the sales activity seen during the COVID-19 economic lockdowns in 2020,” Lawrence Yun, NAR’s chief economist, said in a statement. However, in recent weeks, mortgage rates have declined and currently hover around 6.3%. million homes, which represents 3.3

Sales 397

Sales Mortgages Principal Days on market 397

Housing Wire

NOVEMBER 2, 2022

And with Fed rates expected to rise even further, industry experts and economists don’t expect mortgage rates to stabilize for at least another year. Mortgage rates , which are currently near a 22-year high, declined slightly from last week ahead of the Fed’s sixth rate hike announcement. Tables have turned for some sellers.

Industrial 435

Industrial Mortgages Fixed-rate mortgage Principal 435

Housing Wire

MARCH 6, 2024

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday.

Mortgages 448

Mortgages Residential Construction Lending 448

Housing Wire

JANUARY 20, 2023

From NAR : “December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates ,” said NAR Chief Economist Lawrence Yun. However, expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year.” The days on market were too low.

Sales 541

Sales Days on market Mortgages Lending 541

Housing Wire

FEBRUARY 23, 2024

Existing home sales showed a jump in sales, which was anticipated by most as we had positive, forward-looking housing data due to mortgage rates falling from 8.03% to 6.63%. This is nothing dramatic, but similar to what we saw in 2023 when mortgage rates rose from 5.99% up to 7.25%.

Sales 493

Sales Days on market Mortgages Investor 493

Housing Wire

JUNE 22, 2023

The days on market are back to a teenager level in the existing home sales market, which means I can officially say we are back to a savagely unhealthy housing market! Nothing good happens in the housing market when the days on market are at a teenager level or lower. million in May. million in May.

Marketing 526

Marketing Days on market Sales Bankruptcy 526

Housing Wire

JANUARY 12, 2022

Unfortunately, that didn’t happen and recent data shows that we are at fresh new all-time lows in housing inventory, with mortgage rates and the unemployment rate both under 4% currently. Mortgage demand needs to slow down. However, the rate of price growth cooled down and days on market grew.

Days on market 538

Days on market Loans Sales Mortgages 538

Housing Wire

NOVEMBER 22, 2021

If home sales moderate from these levels, that would be perfectly normal to me because clearly now the existing home sales market is outperforming my expectations with these last two sale prints. Mother demographics and low mortgage rates can crush a lot of American bear’s hearts as they did in 2020 and 2021.

Sales 539

Sales Days on market Investor Mortgages 539

Housing Wire

JUNE 20, 2024

Looking at Altos Research data on home prices, inventory and days on market over the past five years, Austin’s meteoric rise during the pandemic era — and its abrupt cooldown after mortgage rates started to rise in May 2022 — are evident. Contrast that with June 2022, when the average was a mere 29 days. increase. “If

Days on market 483

Days on market Mortgages Land Marketing 483

Housing Wire

FEBRUARY 28, 2024

The data examined below represents multiple listing service data and mortgage market analytics for San Diego County, as well as the state of California and the country as a whole from 2019 to 2023. Mortgage data paints a similar picture of the increasing competitiveness of the San Diego market.

Marketing 459

Marketing VA loan Days on market Loans 459

Housing Wire

MAY 18, 2023

Just when I thought days on market were returning to normal, that number for existing homes fell back down to 22 days. If the days on the market are at a teenager level or even lower, it’s never a good sign for the housing market. Mortgage rates moving up and down have moved the market.

Marketing 539

Marketing Sales Mortgages Days on market 539

Housing Wire

JULY 10, 2024

With the release of the CoreLogic 2024 Q1 Equity Insights report, which Logan discussed last week , and now the FHFA National Mortgage Database Aggregate Statistics , we have a lot of visibility into the financial position of the American homeowner. When a person finds themselves no longer able to afford their mortgage payments (No.

Equity 545

Equity Loans Mortgages Sales 545

Housing Wire

JUNE 21, 2024

Let’s keep it simple: total active listings are still below 2019 levels nationally, and the days on market are under 30 days today. Existing home sales When mortgage rates started to rise earlier this year, existing home sales trended lower. However, I can clear up any confusion on this topic.

Days on market 482

Days on market Sales Mortgages As-is 482

Housing Wire

MARCH 21, 2024

Unless mortgage rates go lower, that’s what we should expect, because that’s what happened last year. When mortgage rates headed lower at the end of 2022 into 2023, we had 12 weeks of positive weekly purchase application data. The purchase application data has weakened as mortgage rates headed higher earlier in the year.

Sales 508

Sales Mortgages Days on market Investor 508

Housing Wire

NOVEMBER 21, 2023

I say this because of the slow dance between the 10-year yield and 30-year mortgage rates since 1971. Last year, the 10-year yield fell from 4.25% to 3.37%, pushing mortgage rates lower from 7.37% to 5.99%. This last push lower in demand can be attributed to mortgage rates getting above 8% and the 10-year yield spiking to 5%.

Sales 484

Sales Days on market Mortgages Investor 484

Housing Wire

NOVEMBER 19, 2020

Days on market fell from 36 days to 21 days on a year-over-year basis. The housing market is hot. And third, mortgage rates will stay low during these five years of great demographics and long housing tenure. Before COVID-19, housing market data broke out for the first time in a long time.

Marketing 545

Marketing Sales Days on market Mortgages 545

Housing Wire

FEBRUARY 27, 2023

We created the weekly Housing Market Tracker because housing data has been so wild since 2020. The housing market madness persisted last week as inventory fell and higher mortgage rates took a bigger bite out of purchase application data. In 2021, mortgage rates were low enough to keep demand much higher than it is today.

Marketing 476

Marketing Mortgages Days on market Sales 476

Housing Wire

DECEMBER 20, 2023

I would argue yes, and the housing market today looks a lot like what we saw in late 2022. However, this time around, the Federal Reserve rate hike cycle is over, and we don’t need to worry about Fed presidents going on CNBC in 2024 crying about 6% mortgage rates making their lives difficult. So let’s take a look at the playbook.

Sales 482

Sales Marketing Days on market Mortgages 482

Housing Wire

MARCH 18, 2022

You can see why I have been on team higher mortgage rates for some time now because we don’t have any other way to get off this madness. You can’t have the best housing demographics ever, with the lowest mortgage rates and the best loan profiles with falling inventory for eight years, and not be concerned about this during 2020-2024.

Marketing 542

Marketing Investor Sales Days on market 542

Housing Wire

JULY 24, 2024

“There are more listings hitting the market, but a lot of them aren’t in good condition or they’re not in a desirable neighborhood — and sellers are pricing unrealistically high.” The rising share of stale listings is being driven by the factors that are handcuffing markets nationwide.

Days on market 435

Days on market Mortgages Marketing Sales 435

Housing Wire

DECEMBER 28, 2022

First, mortgage lending standards have remained high after the last bubble. People can afford to pay their mortgages. As a result of the fallout from the great recession, mortgage quality has been far more regulated and viewed with suspicion. There will be two key differences between 2023 and 2010.

Marketing 505

Marketing Equity Mortgages Short sale 505

Housing Wire

JANUARY 22, 2021

The big take-home is that 2020, despite the COVID crisis, began a period in our country (the years 2020-2024) when we have both the best housing demographics ever combined with mortgage rates low enough to keep housing stable for years to come. We saw hints of this prime housing market period as early as February of 2020.

Marketing 545

Marketing Sales Days on market Mortgages 545

Housing Wire

MARCH 6, 2023

The housing market faced some serious obstacles last week as the 10-year yield broke over 4%, mortgage rates rose to over 7%, purchase apps fell again and we are still trying to find the elusive seasonal bottom for housing inventory. Purchase apps look out for 30-90 days, so it will be some time before this hits the home sales data.

Marketing 513

Marketing Mortgages Sales As-is 513

Housing Wire

JANUARY 23, 2023

Here’s the housing market rundown for the last week: Purchase application data had a solid week-to-week gain of 25%. Mortgage rates fell, but the bond market didn’t break what I see as a critical level, so for now, stabilization is more important. Last week’s housing market data provided mixed news. Since Nov.

Marketing 516

Marketing Mortgages Sales As-is 516

Housing Wire

JUNE 25, 2023

Mortgage rates were again in a small range, hanging near 7%. The affordability hit with higher mortgage rates has impacted new listings data since most sellers are buyers, thus facilitating an all-time low in new listings data. Nothing good is happening in housing when days on market are so low.

Marketing 435

Marketing Mortgages Days on market Sales 435

Keeping Current Matters

SEPTEMBER 2, 2021

Mortgage Rates. If we look at the 30-year mortgage rate chronicled by Freddie Mac , we can see the average rates by decade: 1970s: 8.86%. Today, the average mortgage rate stands at 2.87%, which is very close to the historic low. Currently, mortgage rates are anything but usual, typical, or routine. 1980s: 12.7%.

Marketing 320

Marketing Days on market Residential Mortgages 320

Housing Wire

SEPTEMBER 30, 2024

We are seeing some price drops start to happen and a little bit longer days on market.” Fontantella isn’t the only one seeing slower market conditions in Bergen County. The Altos Research Market Action Index score for the county has dropped from a 90-day average of 54.63 in early May to 47.88 as of Sept.

Marketing 425

Marketing Home sale contingency Days on market Agents 425

Housing Wire

JULY 3, 2024

Today’s housing market suffers from affordability issues due to mortgage rates in the 7s and high home prices. People are quick to panic over any part of the housing market that looks stressed, fearing we’ll see 2008 levels of destruction all over again.

Marketing 385

Marketing Equity Days on market Sales 385

Housing Wire

JUNE 8, 2022

Verification solutions provider Xactus wants to court more lenders through its active listing data in a tight housing market. Xactus Wednesday announced its new active listing scan program, which will scan residential addresses for changes in listing status and the average number of days on market for a neighborhood.

Short sale 370

Short sale MLS Banks Loans 370

Housing Wire

JANUARY 12, 2023

Reflecting the seasonality of the market and home sellers’ increased reluctance to list amid weakening buyer demand and a volatile mortgage rate environment, the number of new listings was down 21.0% Thanks to elevated mortgage rates and home prices, the typical mortgage payment is up nearly $750 a month, a 58.9%

Mortgages 534

Mortgages Marketing Days on market Closing 534

Housing Wire

JULY 25, 2022

The Fannie Mae report projects “strong deceleration in home-price growth going forward” due to higher mortgage rates and the overall slowing economy affecting purchase demand. Overall, annual mortgage origination levels are expected to be $2.8 By comparison, home-price growth was 17.8% in 2021, Freddie Mac reports. The Beige Book.

Marketing 418

Marketing Residential Construction Mortgages 418

Housing Wire

MARCH 31, 2021

Gradually increasing mortgage rates, heightened home prices and inventory levels at historic lows finally coalesced in February to depress in-contract deals. A healthy housing market is considered roughly six months of supply. Only the upper-end market is experiencing more activity because of reasonable supply.”. respectively.

Sales 511

Sales Days on market Marketing Mortgages 511

Housing Wire

MAY 14, 2024

As of May 13, the median days on market for single-family properties in Santa Monica with a median price of $1.85 million (the lowest market segment) and a median price of $2.622 million was 35 days and 17 days, respectively.

Backup offer 448

Backup offer Days on market Inspection Marketing 448

Housing Wire

JANUARY 19, 2023

“Housing markets continued to weaken, with sales and construction declining across [all 12 Federal Reserve] districts,” according to the Federal Reserve Beige Book released on Wednesday. The report noted that “most bankers reported that residential mortgage demand remained weak.”

Marketing 448

Marketing Residential Construction Sales 448