Housing Wire

JUNE 17, 2021

the second consecutive month sales of new homes have dropped, according to data released Thursday by the Mortgage Bankers Association. On a seasonally adjusted basis, the MBA also estimates new home sales fell at an annualized pace of 4% in May, said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

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Eye on Housing

SEPTEMBER 6, 2023

NAHB analysis of the 2022 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 28.1% of the market, roughly the same as in 2021, at 28.8%. As in previous years, conventional financing dominated the market at 71.9%

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Finance Construction Sales Marketing 69

Housing Wire

JULY 26, 2021

New home sales continued to slip in June, falling 6.6% The median sales price of new houses sold in June 2021 was $361,800. The average sales price was $428,700. “Builders are working through this uncertainty by managing their pipelines, notably expanding the number of homes for sale that are not yet started.”

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Realty Biz

SEPTEMBER 23, 2023

How Buyer Agents Get Paid Buyer agents are typically compensated through a commission fee, a percentage of the property's final sale price. They analyze property values, market conditions, and comparable sales to help you submit a fair and competitive offer.

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Purchase and sale agreement Pre-approval Agents Pre-qualification 73

Housing Wire

FEBRUARY 16, 2024

Mortgage applications for new homes surged in January as a lack of existing homes continued to fuel the demand for new construction. According to MBA estimates, new single-family home sales were at a seasonally adjusted annual rate of 700,000 units in January, the highest pace since October 2023. of loan applications for new homes.

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Eye on Housing

AUGUST 26, 2022

NAHB analysis of the 2021 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 28.8% of the market, while conventional financing dominated the market at 71.2%. In 2020, share of non-conventional financing was 34.4% of the market share.

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Finance Construction Sales Marketing 119

Housing Wire

NOVEMBER 16, 2023

“We estimate that the pace of home sales increased for the third straight month to a 715,000-unit annual pace — the strongest sales month since May 2023.” of all new-home purchase applications as homebuyers turned to new construction for more housing options. Conventional loans made up 63.6%

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Housing Wire

APRIL 16, 2024

According to MBA estimates, new single-family home sales were at a seasonally adjusted annual rate of 615,000 units in March, the slowest annualized pace in four months, and a decrease of 10.7% from the February rate of 689,000 units. Federal Housing Administration (FHA) loans accounted for 26.4% Applications were up 6.2%

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The Close

NOVEMBER 25, 2022

Easy financing through VA loans. Easy financing through Department of Veterans Affairs loans is another reason. Zero interest loans are an even bigger deal in our current lending environment! The loan officer should be well-versed in VA financing. It’s also a 0% interest loan. How amazing is that?

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Eye on Housing

SEPTEMBER 28, 2020

NAHB analysis of the 2019 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 35.0% of the market, while conventional financing dominated the market at 65.0%. In 2018, share of non-conventional financing was 28.6% of the market share.

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Finance Construction Sales Marketing 126

Housing Wire

MAY 19, 2022

Skyrocketing mortgage rates and a slowdown in new home constructions led to a drop in home purchases in April. It was the slowest sales pace since May 2020. On an unadjusted basis, MBA estimates that there were 65,000 new home sales in April 2022, a decrease of 12.2% from 74,000 new home sales in March. .

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Housing Wire

NOVEMBER 16, 2021

The strong monthly gain puts MBA’s estimate of new home sales at its strongest pace since January 2021, the report said. In September , the average mortgage loan size of new homes clocked in at $408,522, the survey found. Overall construction costs, as measured by the Producer Price Index (PPI), recorded an annual increase of 12.3%

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Housing Wire

JULY 20, 2023

On an unadjusted basis, MBA estimates that there were 60,000 new home sales in June 2023, a 6.3% decrease from 64,000 new home sales in May. New home purchase activity continues to be a bright spot, as both new home applications and home sales were up on an annual basis,” said Joel Kan, MBA ’s vice president and deputy chief economist.

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HomeLight

APRIL 14, 2023

Both buyers and sellers are responsible for certain fees and closing costs in a home sale transaction, which we’ll break down in more detail in the next section. For sellers, the lion’s share of the closing costs is the agent commissions, which are percentages of the home’s total sales price. Who pays for closing costs in Georgia?

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Housing Wire

DECEMBER 15, 2020

November new home sales activity, both mortgage applications and home sales, ran at a pace considerably ahead of 2019, showing the ongoing strong growth in housing demand and new residential construction,” Kan said. On an unadjusted basis, MBA estimates that there were 59,000 new home sales in November 2020, a decrease of 15.7%

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Eye on Housing

JULY 15, 2021

NAHB analysis of the 2020 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 34.4% of the market, while conventional financing dominated the market at 65.6%. In 2019, share of non-conventional financing was 35.0% of the market share.

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Finance Construction Sales Marketing 59

Housing Wire

JULY 19, 2022

New residential construction and permitting activity weakened from March through May, which reduced the number of homes available for home buyers, according to survey results. Federal Housing Administration (FHA) loans made up 15%, Veterans Affairs (VA) loans were 10.7%

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Mortgages VA loan FHA loan Loans 370

HomeLight

FEBRUARY 12, 2021

The Conventional 97 loan allows buyers to put down as little as 3%, though it requires them to have a credit score in the mid- to high-600s — higher than the FHA loan’s minimum score of 580. USDA and VA loans both go as low as zero down. Defective paint surfaces in homes constructed pre-1978. Foundation damage.

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HomeLight

AUGUST 20, 2021

You think your house sale is all wrapped up — but you’re not done yet. The appraisal is a crucial step in the closing process; your home must appraise for equal to or more than the sale price for the buyer’s lender to approve their mortgage. FHA loans require a special appraisal. Poor quality construction.

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Housing Wire

OCTOBER 19, 2021

Based on data from the survey, MBA estimates that there were 66,000 new single-family home sales in September, compared to 71,000 new single-family homes a month prior, a 7% decrease. The new home sales estimate is derived using mortgage application information from the BAS, as well as assumptions regarding market coverage and other factors.

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Housing Wire

AUGUST 22, 2022

“The slide in purchase applications for new homes – now down for the fourth consecutive month and 16% lower than a year ago – is consistent with data on declining homebuilder sentiment and slowing permitting activity for new construction.”. from the revised 56,000 new home sales in June. and VA loans composed 11.4%.

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VA loan FHA loan New Construction Loans 370

Housing Wire

JULY 20, 2021

New single-family home sales were reported at a seasonally adjusted annual rate of 704,000 units in June, a decrease of 5% from May’s pace of 741,000. The MBA estimates there were 66,000 new home sales in June, down from 68,000 such sales in May. This has dampened new home sales and quickened home-price growth.”

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HomeLight

APRIL 20, 2023

Buy for cash or sell to a cash buyer: A cash buy or cash sale can eliminate two of the biggest expenses: mortgage fees and commissions. Shop around for a mortgage company or loan: Compare interest rates as well as incentives and closing costs. A conventional mortgage is any mortgage that’s not part of a government loan program.

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Closing costs Closing Inspection Loans 81

Housing Wire

NOVEMBER 18, 2020

Texas home sales pushed third-quarter activity up compared to “depressed” Q2 levels, rebounding 6.3%. Although mortgage rates are low, survey data indicated that Texas mortgagees may be at a higher risk of foreclosure due to higher proportions of FHA and VA loans. According to the U.S. Total Texas housing starts rose 20.6%

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Housing Wire

MAY 31, 2022

When we help bring distressed properties back to the market, it’s up to 31% less expensive than a new construction home.”. Planet is in a unique position because there are very few non-depository lenders offering a construction product,” Hattan said.

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Housing Wire

SEPTEMBER 14, 2023

Over one-third (34%) of prospective buyers have yet to purchase a home because there are not enough homes for sale in their budget, according to a new survey from the National Association of Realtors. White (16%) and African-American/Black buyers (12%) were the most likely to be retired or not workings (other groups ranged from 7% to 8%).

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Marco Santarelli

APRIL 19, 2024

This period between March and June typically accounts for over a third of annual home sales as warmer weather and the end of the school year motivate many buyers to make their move. The latest data indicates affordability constraints are weighing on home sales activity. Total home sales (existing and new) in February ticked up 8.1%

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HomeLight

AUGUST 9, 2022

If you back out of the sales agreement and your reason for doing so isn’t covered by contingency written into the contract, the seller can keep your earnest money. Larsen cautions that if you’re buying a new construction home, you will likely be expected to pay a much larger percentage of earnest money. The deal is done!

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RIS Media

SEPTEMBER 21, 2021

The details: According to MBA estimates using data from the BAS, new single-family home sales were running at a seasonally adjusted annual rate of 874,000 units in August 2021. Unadjusted, MBA estimates there were 71,000 new-home sales in August 2021—an increase of 10.9% from 64,000 new-home sales in July. of loan applications.

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Mortgages VA loan FHA loan Loans 103

HomeLight

JANUARY 4, 2022

Our HVE combs public data including tax records and assessments and pulls recent sales records for other properties in your neighborhood. Depending on when your home was constructed, your floor plan may be more compartmentalized compared to the open layouts popular in today’s modern builds. Poor quality construction.

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HomeLight

AUGUST 16, 2021

Proof of any other income like real estate, child support or alimony, disability, social security, retirement, VA benefits, gratuities/tips, and commissions. Source: (LinkedIn Sales Solutions / Unsplash). Copies of the sales contract, Closing Disclosure , and any other forms you signed with the lender throughout the process.

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HomeLight

MARCH 6, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs to consider as well. Typically, the higher your credit score, the lower your interest rate will be, which saves you money over the life of the loan. “If Loans backed by the VA offer 0% down payments for those who qualify.

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HomeLight

APRIL 5, 2023

An experienced real estate agent can evaluate your home’s value, run the comps ( comparable home sales ), and calculate the ROI to see if updating makes financial sense.” However, you might want to fix something that opens up your home to different loan types. “If The size of your yard or square footage isn’t going to magically grow.

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Realtor.com

NOVEMBER 9, 2022

For single-family home sales, the average down payment jumped to a high of more than 14% of the purchase price this year. ® data team pored through September home sales in the 300 largest metropolitan areas using mortgage data from Optimal Blue. 10), less than $200,000 will cover the median home sale. Take Santa Barbara (No.

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VA loan FHA loan Loans Sales 111

HomeLight

APRIL 13, 2023

of the sales price. Read on to learn more about closing costs, including how much closing costs are in Florida and which costs are traditionally paid by the buyer and seller. $480 Loan origination fees ( 0.5% It’s optional, with one point equal to 1% of your loan amount. of the sales price, based on national averages.

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Closing costs Closing Title Inspection 79

HomeLight

DECEMBER 29, 2021

Savvy sellers know that if their home is priced right, they stand a very good chance of having it appraise accordingly, and keep the sale on track. Construction details (type of foundation, type of materials used). FHA and VA loans have additional requirements an appraiser must evaluate, most of which relate to safety and soundness.

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Purchase and sale agreement VA loan Loans Agents 106

HomeLight

APRIL 12, 2023

Both buyers and sellers are responsible for certain fees and closing costs in a home sale transaction, which we’ll discuss in more detail in the next section. Down payments vary by lender , borrower, and loan and can be as little as 0% (VA loans) or as much as 10% (jumbo loans).

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Closing costs Closing Purchase and sale agreement Title search 82