U.S. pending home sales unexpectedly rose in December for the first time in seven months, wrapping up an otherwise poor year for a housing market battered by higher mortgage rates. The National Association of Realtors index of contract signings to purchase previously owned homes increased 2.5% last month to 76.9, according to a release Friday. … [Read more…]
The Housing Market Tracker shows that housing inventory decreased by 6,468 units, a more pronounced decline from the previous week.Â
Despite the new record low, NerdWallet home and mortgage expert Holden Lewis stressed that the real estate market in 2022 was very different from 12 years ago. “December’s sales were slow because high mortgage rates make homes unaffordable for many would-be buyers,” he said. “In 2010, the market was clawing its way out of the … [Read more…]
Bond yields and mortgage rates have been falling since weaker inflation data was released, which is stabilizing the housing market. We’re on the verge of rates dropping below 6%.
The housing market is on fire, with home prices up 20% today compared to one year ago. But if you thought that the market couldnât get any hotter, and that things might start to cool off soon, think again, as analysts believe there are yet more home price gains in store for 2022. Goldman Sachs […]
The post Goldman Sachs forecasts home prices to jump 16% in 2022 appeared first on RealtyBizNews: Real Estate Marketing & Beyond.
Sales of new U.S. homes rose for a third month in December, wrapping up an otherwise disappointing year in which soaring borrowing costs stifled demand and weighed on the economy. Purchases of new single-family homes increased 2.3% to an annualized 616,000 pace after a downward revision to the prior month, government data showed Thursday. The … [Read more…]
How are homebuilders positioned heading into spring? It’s all about mortgage rates as they move through a backlog of unfinished homes.
Conference attendance in 2023 may be down, given layoffs and budget cuts, but hereâs a handy dandy list of events this year and state organizations. (Click on âConferencesâ on the right; for any additions or corrections, contact Ed.) Here at the MBAâs IMB conference, itâs not much fun talking about revenue and margins. So, letâs talk Vitamin C! San Diego County, and California, ranks first with 59 percent of the U.S. citrus production. And when life gives you lemons, you make lemonade. What about when life gives you plenty of barren areas of snow? Thank you to Len T. for this one, reminding us that some people have inordinate amounts of time on their hands. And thank you to Michael Chan yesterday who sent the real estate version of Wordle if you will, where you guess the price of the house. (Watch for those oceanside house prices!) Yes, there are plenty of people out there looking at housing, and the amount for sale. On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units. (This weekâs podcast is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology, and other services in the mortgage industry and in banking. Listen to an interview with Curinosâ John Sayre on the latest statistical trends in the mortgage industry and what to look forward to in 2023.) Lender and Broker Software, Products, and Services ICE Mortgage Technology announces Affordable Lending Analytics Solution. Matching potential homebuyers with affordable lending programs is a challenge. This is often because many loan officers lack the knowledge or tools to easily identify eligible borrowers. ICE Mortgage Technology® recently announced a new Affordable Lending Analytics solution that is designed to help lenders effortlessly identify affordable lending opportunities within their pipeline, match borrowers to funds, and turn more people into homeowners. Matching potential homebuyers with affordable lending programs is a challenge, often because many loan officers lack the knowledge or tools to easily identify eligible borrowers. ICE Mortgage Technology® recently announced a new Affordable Lending Analytics solution that is designed to help lenders effortlessly identify affordable lending opportunities within their pipeline, match borrowers to funds, and turn more people into homeowners. Click here to learn more and receive the latest updates on ICE Mortgage Technology Affordable Lending Analytics.
Local markets is a HousingWire magazine feature spotlighting housing trends in five markets across the country.
This weekâs HW+ member spotlight features Nicole Fortunaso, head of marketing at PropStream and the trends she is expecting in 2023.