Housing Wire

NOVEMBER 27, 2023

In October, new home sales reached a seasonally adjusted annual rate of 679,000, according to data published on Monday by the U.S. On a year-to-date basis, new home sales were up 9.5% However, the share of new construction for sale in the third quarter was the highest ever recorded. in the Northeast, 5.8%

Sales 384

Sales New Construction Construction Closing costs 384

Housing Wire

APRIL 18, 2024

Meanwhile, new construction of both single-family and multifamily homes receded in March. Prospective home buyers face a very confusing housing market,” Bright MLS chief economist Lisa Sturtevant said in a statement. Meanwhile, unsold inventory sat at a 3.2-month month supply at the current sales pace, up from 2.9

Sales 373

Sales New Construction MLS Construction 373

Housing Wire

SEPTEMBER 19, 2023

On the bright side, permits for future construction recorded a 6.9% However, it was 2% higher than a year ago, Bright MLS Chief Economist Lisa Sturtevant noted. This annual increase in new starts was driven entirely by new construction activity in the South region, she noted. Census Bureau. Permits were 2.7%

Construction 433

Construction New Construction MLS Marketing 433

Housing Wire

NOVEMBER 14, 2023

“Shelter inflation has been coming down slowly since the summer, as new residential construction activity ramped up in 2023,” said Lisa Sturtevant, chief economist for Bright MLS. Even though shelter prices dropped to 0.3% the prior month, they’ve increased 6.7% On Tuesday, traders priced in a nearly 85.7%

New Construction 360

New Construction Construction MLS Residential 360

Housing Wire

JULY 26, 2023

“New home sales continue to be an outsized share of the housing market ,” Lisa Sturtevant, Bright MLS’ chief economist, said in a statement. The market for new homes is booming because the number of existing homes coming on the market has slowed to a two-decade low. from a month prior, but down 3.6% compared to June 2022.

Sales 352

Sales New Construction Marketing Construction 352

Housing Wire

MAY 23, 2023

On a year-over-year basis, new home sales were up 11.8%. Demand for newly built homes has been strong amidst the historically low inventory of existing homes for sale ,” Lisa Sturtevant, the chief economist at Bright MLS , said in a statement. In April, new single-family home sales were about 14% of total home sales nationwide.

New Construction 391

New Construction MLS Construction Sales 391

Housing Wire

JULY 19, 2023

single-family homebuilding fell in June, but permits for future construction rose to a 12-month high on the weakness of the existing home sales market. noted Bright MLS Chief Economist Lisa Sturtevant. The number of single-family homes under construction remains high. The decline in housing starts came after a massive 18.7%

Construction 332

Construction New Construction MLS Lending 332

Housing Wire

AUGUST 18, 2023

Not just for your town or even zip code, but for their neighborhood, school district and MLS code. A great Listing pre-qualification script pulls out critical facts so you can be best prepared to not just take the listing, but to price it right in the first place! Not prequalifying is unprofessional and can waste your time and the sellers.

Pre-qualification 365

Pre-qualification New Construction MLS Construction 365

Housing Wire

APRIL 18, 2023

Construction of homes in buildings with five or more units, which generally is going to include apartment buildings, has been running at a faster pace than last year,” Lisa Sturtevant, Bright MLS ’ chief economist, said in a statement. Despite the slight monthly decrease, housing starts are down just 17.2% annual drop in February.

Construction 353

Construction MLS New Construction Finance 353

Housing Wire

JUNE 29, 2023

It is encouraging that homebuilders have ramped up production, but the supply from new construction takes time and remains insufficient,” added Yun. Year over year, pending home sales were down 22.2%, a larger decrease than the 20.3% annual drop recorded in April. The NAR’s Pending Home Sales Index fell to a reading of 76.5

Sales 339

Sales New Construction MLS Construction 339

Housing Wire

JULY 6, 2023

Real estate markets also speak to resilient conditions, as buyers have accepted mortgage rates in the new normal of 6% – 7% range and kept a steady pace of sales over the past few months. Lisa Sturtevant, Chief Economist of Bright MLS , said economic conditions will cool in the second half and mortgage rates will come down.

Mortgages 382

Mortgages Construction New Construction Investor 382

Housing Wire

MARCH 16, 2023

The pace of new construction had been picking up over the past two years. million new housing units were started, which is a little higher than the average annual new starts over the past five decades,” Lisa Sturtevant, the chief economist at Bright MLS, said in a statement. million in February, up 9.8%

Banks 416

Banks MLS Construction Finance 416

Housing Wire

JANUARY 10, 2024

Add a welcoming doormat, some potted plants on the porch or a new doorknocker for example. Mention it in the agent-to-agent comments in the MLS. Preview the competition the day before you launch your new listing. Are other listings (or new construction) offering seller incentives? So how can you deliver?

MLS 377

MLS Pre-approval Inspection Agents 377

Housing Wire

JULY 25, 2023

Chicago (4.6%), Cleveland (3.9%) and New York (3.5%) posted the largest price gains. in April, according to Mortgage News Daily. With existing homeowners feeling reluctant to give up their record-low mortgage rates, builders have been all smiles as buyers turn to new construction. The 10-city composite gained 1.1%

Construction 302

Construction Mortgages New Construction MLS 302

Housing Wire

MAY 17, 2023

Despite elevated mortgage rates and a slower-than-typical spring housing market , homebuilders are feeling confident about the outlook for new housing demand because the inventory of existing homes for sale remains very constrained,” Lisa Sturtevant, the chief economist of Bright MLS , said in a statement. “In million homes.”

Construction 382

Construction New Construction MLS Development 382

Housing Wire

NOVEMBER 7, 2023

Though this seems like a whole new stress-inducing worry for many real estate agents , the fact is that commissions have never been a set amount, just an expectation or a tradition in many markets. Be more creative in your MLS searches. You can’t just assume you’ll be receiving a set percentage on every transaction.

Loan Officer 395

Loan Officer New Construction MLS Inspection 395

Housing Wire

DECEMBER 8, 2023

Should they consider new construction? There are other ways to find inventory rather than just using your MLS. You cah also be more creative in your MLS searches in ways that net you more inventory to choose from for your clients. Top 10 ways to get homebuyers to work with you 1.

Proof of funds 411

Proof of funds Inspection contingency Inspection MLS 411

Notorious ROB

SEPTEMBER 5, 2022

” That is, when presented with new data, new evidence, then my opinions are subject to change. Last year, I wrote something up on BrightMLS’s Off-MLS Study saying that the conclusions of the report were overstated and based on thin and problematic data. The wealthy tend to use an agent, which means On-MLS.

MLS 88

MLS Brokerage Sales New Construction 88

Housing Wire

AUGUST 10, 2023

Additionally, economists have observed a rebound in new home sales this year, with buyers seeking to leverage new construction options and any competitive builder incentives. Yun was pleased to see deceleration in the rent component, which contributed to pulling down the key core CPI in July. since May of this year, the 4.2

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages New Construction Loans 370

Housing Wire

JULY 20, 2023

The good news is that the housing recession that was predicted by some economists has not materialized, noted Lisa Sturtevant, chief economist for Bright MLS. With positive inflation news and a strong labor market, the possibility that the Fed will be able to bring the economy in for a “soft landing” is improving.

Sales 307

Sales MLS Short sale Construction 307

Housing Wire

SEPTEMBER 28, 2022

Sales of new single-family homes in August were at a seasonally adjust annual rate of 685,000, up 28.8%, but down 0.1% A rebalancing of the housing market is continuing to throw the new construction market for a loop,” Nicole Bachaud, Zillow’s senior economist, said in a statement. compared to a year ago. “A months in July.

Sales 267

Sales Construction New Construction MLS 267

Housing Wire

JUNE 22, 2023

Newly constructed homes are selling at a pace reminiscent of pre-pandemic times because of abundant inventory in that sector. Newly constructed homes are selling at a pace reminiscent of pre-pandemic times because of abundant inventory in that sector. Total housing inventory recorded at the end of May was 1.08 million units, up 3.8%

Sales 357

Sales Construction New Construction MLS 357

HomeLight

JULY 6, 2023

That’s why it’s important for your real estate agent to keep your property’s status up to date, both in the multiple listing service (MLS) that agents cooperatively use, as well as in online marketplaces, which pull data from the MLS. Step one: Talk to an expert! Selling your house soon?

MLS 100

MLS Backup offer Inspection contingency Purchase and sale agreement 100

Housing Wire

OCTOBER 26, 2022

Kelly Mangold of RCLCO Real Estate Consulting attributes August’s rise in new home sales to a dip in mortgage rates , but once rates started rising again in September, sales slowed. “As PulteGroup’s new orders in the west were down nearly 62% from the year prior. As mortgage rates approach 7.0%

Sales 319

Sales New Construction Investor MLS 319

Housing Wire

JULY 20, 2023

For most agents, that’s the end of the conversation, ending the possibility of taking a new listing as well as facilitating the buyer side. Stop answering clients’ concerns by saying, “Yeah, there’s really nothing on the market, I mean everything in the MLS is already pending. Next, the house is new. range currently!

Equity 282

Equity MLS Construction Agents 282

Redfin

JANUARY 12, 2022

While first-time homebuyers and even seasoned homeowners might have heard of MLS, they may not be familiar with the role it plays throughout the home buying and selling process. Understanding how the MLS factors into the process can help you get the most out of your purchase or sale. What an MLS is and how it works. What is MLS?

MLS 74

MLS Agents Sales As-is 74

The Close

MAY 24, 2024

In August 2023, MLS system provider Rapattoni was a victim of a cyberattack, causing outages across the US. Check out these construction site stats. The BLS reports 1,069 fatal injuries at construction sites in 2022 and 598 in the business and professional services sectors. Use this wire fraud email template from NAR.

Agents 96

Agents Construction Commercial Due diligence 96

HomeLight

AUGUST 31, 2021

Don’t let the pristine facade or shiny appliances of a model home deceive you: buying new construction will be as complex as any old real estate transaction, if not more so. These are all areas where a knowledgeable buyer’s agent who’s got lots of new-build experience and local builder connections can be invaluable.

Agents 124

Agents New Construction Purchase and sale agreement Construction 124

Real Trends

AUGUST 18, 2023

Private sales, for sale by owner and other sales not found in your MLS could be really good comparable homes, so ask good questions and don’t just assume your seller is overpriced. Not just for your town or even zip code, but for their neighborhood, school district and MLS code. Always prequalify, 100% of the time!

Pre-qualification 88

Pre-qualification New Construction MLS Construction 88

HomeLight

JANUARY 18, 2024

Tight inventory in the resale market has driven up interest in the new construction market , but rising new home prices and high mortgage rates are hampering affordability. However, a surge in new listings isn’t enough to combat the nationwide housing shortage, estimated at approximately 3.2 as of January 2024. “A

Marketing 82

Marketing New Construction Construction MLS 82

Realty Biz

APRIL 19, 2024

Only they have access to real estate comps, MLS listings, and local market trends that can help you buy, rent, sell, or invest in residential, commercial, or industrial real estate. At the same time, new constructions struggle to keep up with the market. How long can the US real estate market sustain elevated home prices?

Marketing 90

Marketing Fixed-rate mortgage Construction Residential 90

Real Trends

FEBRUARY 27, 2023

Stop relying only on your MLS. Get more creative with your MLS searches. If your buyers keep losing out to multiple bids, search your MLS using the same criteria, but for homes that have been on the market for more than 60 days, more than 90 days, etc. They’re ready to buy! They’ve even come to terms with higher interest rates.

Marketing 94

Marketing MLS Pre-approval Home sale contingency 94

Real Trends

OCTOBER 5, 2022

Why buy your listing when there’s new construction with builder incentives? If the monthly HOA is $300, then maybe a $3,600 HOA credit from the seller would be better than a $5,000 price reduction; it would at least make your listing stand out in the MLS. Again, be sure to list this in the MLS comments.

MLS 99

MLS New Construction Closing Closing costs 99

Realty Biz

AUGUST 16, 2023

I regularly consult our local MLS, the National Association of REALTORS®, the Colorado Association of REALTORS®, our local assessor’s website, a regional new construction report, Fannie Mae, Fannie Mac, and reports on the primary mortgage market. It was out of this training that the “Stat Pack” was born.

Agents 76

Agents Marketing Branding New Construction 76

Notorious ROB

APRIL 5, 2023

I don’t know for a fact that we will succeed because we’re a new startup; but we have designed some unique features into DPX to set it up for success. I don’t know for a fact that we will succeed because we’re a new startup; but we have designed some unique features into DPX to set it up for success.

Purchase and sale agreement 97

Purchase and sale agreement MLS Brokerage Agents 97

Calculated Risk Real Estate

AUGUST 8, 2023

“The number of existing homes for sale has dropped precipitously year-over-year in Western Washington,” Beeson observed, adding, “Right now, new construction can’t meet demand.” Notes for all tables: New additions to table in BOLD. For these areas, new listings were down 31.2%

Marketing 98

Marketing New Construction MLS Closing 98

RIS Media

MAY 19, 2021

” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” Two important statuses in the MLS are “Contingent” and “Pending.” What Other MLS Statuses Are There? Contingent vs. Pending? Title Contingencies.

Purchase and sale agreement 98

Purchase and sale agreement Earnest money deposit Inspection contingency Home sale contingency 98