Sat.Jul 17, 2021 - Fri.Jul 23, 2021

Existing home sales show strength of demographics

Housing Wire

The National Association of Realtors reported existing home sales for the month of June were under their estimates slightly. The seasonally adjusted annual rate of 5.86 million achieved in June was a bit better than my expectations, ending four months of declines.

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3 Charts That Show This Isn’t a Housing Bubble

Keeping Current Matters

With home prices continuing to deliver double-digit increases, some are concerned we’re in a housing bubble like the one in 2006. However, a closer look at the market data indicates this is nothing like 2006 for three major reasons. The housing market isn’t driven by risky mortgage loans.

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Desire for Homeownership Continues to Increase

Eyes on Housing

Seventeen percent of American adults are considering the purchase of a home within a year, according to NAHB’s Housing Trends Report for the second quarter of 2021.

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MORE AMORIN INFLUENCE (MAI): The AI National Nominating Committee Design Is Being Attacked By FOJs

Miller Samuel

To all members of the Appraisal Institute: Before I start, I wanted to share what the Appraisal Institute's MAI designation is referred to by many of its members. I learned these two from an MAI instructor years ago (pre-merger) who told our class (as if to motivate us?)

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Millennials are Determined and Prices are Soaring: The Step-by-Step Formula for Closing More Sales to Millennial Buyers Fast!

Speaker: Paul Moya - CEO, Millennial Labs, and The Go-To Performance Marketing Strategist and Realtor Coach for the Best in the World

Join Paul Moya, CEO of Millennial Labs and the Go-To Performance Marketing Strategist and Realtor Coach for the Best in the World, as he shares insights and information about the importance of understanding a buyer and how their needs change with each generation.

Housing inventory slowly coming back as frenzy fades

Housing Wire

After four consecutive months of declines, existing home sales increased in June, jumping 1.4% from May to a seasonally adjusted annual rate of 5.86 million, according to the National Association of Realtors. You can thank a rise in housing inventory for the gains. Sales climbed 22.9%

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More Trending

Most Common Sidings On New Homes are Stucco and Vinyl in 2020

Eyes on Housing

According to the data from the Census Bureau’s Survey of Construction (SOC), stucco was the most common principal siding material on new single-family homes started in 2020 (28 percent), followed by Vinyl siding (26 percent), fiber cement siding (such as Hardiplank or Hardiboard (21 percent), brick or brick veneer (19 percent).

Does it Make Sense to Refinance My Mortgage?

Realty Biz

If you are asking yourself, “should I refinance?” there are many things to consider. Homes are normally the largest expense people ever commit to and one that can have far-reaching consequences on their financial future.

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The housing market is losing steam

Housing Wire

Mortgage applications for new home purchases in June decreased 3% from May and 23.8% year over year, suggesting a slowdown in the housing market, according to a recent report from the Mortgage Bankers Association.

Remote Work Has Changed Our Home Needs. Is It Time for Your Home To Change, Too?

Keeping Current Matters

Over the past year, many homeowners realized what they need in a home is changing, especially with the rise in remote work. If you’re longing for a dedicated home office or a change in scenery, now may be the time to find the home that addresses your evolving needs.

Reimagining How Construction Companies Capture Progress Tracking

Speaker: Felipe Engineer-Manriquez, Christopher Gagliardi, George Hedley, and Jason Nichols

Join our esteemed panelists for their discussion on the importance of progress tracking which ultimately touches upon every digital aspect within the construction cycle. Our thought-leaders' years of experience on the job sites can help you build a better future at your company.

Modular and Other Non-Site Built Housing In 2020

Eyes on Housing

The total market share of non-site built single-family homes (modular and panelized) was at 3% of single-family completions in 2020, according to Census Bureau Survey of Construction data and NAHB analysis.

Cybercrime Hits Title Industry: Cloudstar Victim of Ransomware Attack

RIS Media

Cloudstar, a company that operates five data centers and provides support to title professionals throughout the U.S., is the latest victim of a “highly sophisticated ransomware attack.” ” The company released a statement on Sun., July 18 announcing the cyber attack.

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Variant scare causes mortgage rates to fall to 2.78%

Housing Wire

The average 30-year fixed-rate mortgage sank 10 basis points to 2.78% for the week ending on July 22, continuing several weeks of declines , according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS.

Today’s Real Estate Market Explained Through 4 Key Trends

Keeping Current Matters

As we move into the second half of the year, one thing is clear: the current real estate market is one for the record books. The exact mix of conditions we have today creates opportunities for both buyers and sellers. Here’s a look at four key components that are shaping this unprecedented market.

Builder Confidence Edges Lower as Material Challenges Persist

Eyes on Housing

Strong buyer demand helped to offset ongoing supply-side challenges of labor shortages, regulatory costs, and rising prices of materials as builder confidence in the market for newly built single-family homes inched down one point to 80 in July, according the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).

Mortgage rates hit new all-time low for 15-year loans

Inman

Interest rates for a 15-year mortgage hit new all-time lows amid high sale prices and low inventory. Rates for 30-year loans dipped as well. Banking & Lending Markets & Economy Mortgage freddie mac mortgage rate Sam Khater

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New homes selling well even as builders pass on costs

Housing Wire

After an epic rise in housing starts and permits from the COVID-19 lows, the latest Census report shows a calm after the housing storm. This report is consistent with my prediction that all housing data will moderate from the epic run-up in activity in the second half of 2020.

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Post-Frenzy Forecast

BubbleInfo

The prognostications are coming in about the direction of home prices. It’s easy to predict that the market won’t be as hot as it’s been (or will it?).

Have High Prices Reduced New Construction Interest?

Eyes on Housing

The share of prospective home buyers looking to buy a newly-built home peaked at 42% in the fourth quarter of 2020, before falling to 38% and 33%, respectively, in the first two quarters of 2021.

Condo prices jump more than 20% as sales rebound across the US

Inman

A new Redfin report found that the median price of a condo hit an all-time high of $304,000 in June. Listings Luxury Luxury Lens Markets & Economy condo prices condos Darryl Fairweather Redfin

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Ransomware imperils title, mortgage industry

Housing Wire

Ransomware attackers hit major title industry cloud services provider Cloudstar , stopping an untold number of loans from closing on Monday. The ramifications for the title and mortgage industry may extend beyond the immediately impacted loan applications.

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Instant Inventory

BubbleInfo

Abalone Landing Terrace in Carmel Valley has had a typical frenzy – low inventory and rapidly rising prices. There were two sales that closed in 2020 – one $1,650,000 in July and $1,780,000 in October.

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Housing Starts Solid But Permits Weaken in June

Eyes on Housing

Housing production was steady in June, although permit issuance weakened as higher construction costs and other supply limitations are deferring and delaying some construction projects. Overall housing starts increased 6.3% to a seasonally adjusted annual rate of 1.64

No-cost social media marketing ideas to leverage

Inman

Social media is a great way to gain exposure for your real estate brand as well as the properties you represent and the most effective and least expensive way to connect with potential clients around your community.

How Biden’s Neighborhood Homes proposal impacts real estate investors

Housing Wire

Auction.com buyer and real estate investor Sue McCormick is ahead of the curve when it comes to President Joe Biden’s plan to revitalize underserved neighborhoods while also providing affordable housing for low- and moderate-income homebuyers. “My

Guide to writing a mortgage letter of explanation (with template)

The Mortgage Report

A mortgage letter of explanation may be required if there are red flags on your application. Here's a simple guide to writing a letter of explanation. About Mortgages

Existing Home Sales Stabilizing in June

Eyes on Housing

After four months of declines, existing home sales stabilized in June as housing inventory modestly improved, according to the National Association of Realtors (NAR). However, the median existing home price in June remained elevated and was the second-highest on record.

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Adam Contos shares the 3 principles behind RE/MAX’s success

Inman

RE/MAX CEO Adam Contos shares how his career as a Marine and SWAT leader informs how he leads, recruits and thinks about success. Brokerage adam contos company culture Don Yaeger forbes leadership advice leadership tips re/max

Mortgage applications fall amid market jitters

Housing Wire

Mortgage applications decreased 4% for the week ending July 16, just one week after applications jumped 16% on the strength of falling mortgage rates.

How to Buy a House With Bad Credit: Mortgages With Low Credit Score

Maximum Exposure Real Estate

Getting a Mortgage to Buy a House With Bad Credit Can I buy a house with bad credit? Are bad credit home loans available? If you are asking these questions, you’re not alone. Many people who are interested in purchasing a house want to know the minimum credit score requirement.

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