Here’s how to fix the housing market inventory crisis

Housing Wire

The U.S. housing market is in the midst of an inventory crisis. The number of homes for sale in the U.S. is hovering near record lows , caused by a pandemic-induced housing inventory death-spiral.

How Smart Is It to Buy a Home Today?

Keeping Current Matters

Whether you’re buying your first home or selling your current house, if your needs are changing and you think you need to move, the decision can be complicated.

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Millions will enter housing market in 2021: Zillow

Housing Wire

In what will be known to future generations as the Great Reshuffling, a recent Zillow survey showed that more than 1 in 10 Americans reported moving in the past 12 months, either by choice or by circumstance.

CFPB proposes foreclosure ban until 2022

Housing Wire

The Consumer Financial Protection Bureau (CFPB) released a notice of proposed rulemaking on Monday that would amend Regulation X to provide a special pre-foreclosure review period prohibiting servicers from starting foreclosures until after December 31, 2021.

Home prices see highest gain in nearly 15 years

Housing Wire

Home prices continued their acceleration in January according to the S&P Corelogic Case-Shiller National Home Price Index, jumping 11.2% year over year, the highest gain in nearly 15 years. The Tuesday report also revealed an 11.1%

5 signs you’re ready to downsize your home

Housing Wire

Should you or shouldn’t you downsize? If you’re a homeowner , this is a question you’ll inevitably ask yourself. While owning a home is exciting, it comes with a great deal of responsibility.

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Average home sale price hits all-time record

Housing Wire

The median home sale price increased 16% year-over-year to $331,590 – an all-time high, per a report this week from Redfin. But that’s not stopping buyers from snatching up homes days after they’re listed.

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Mortgage rates jump to 3.17% last week

Housing Wire

The broader economy showed signs of recovery last week, pushing the average mortgage rate for a 30-year fixed loan up eight basis points to 3.17%, according to Freddie Mac ’s Primary Mortgage Market Survey.

How much cash matters in a bidding war

Housing Wire

When there’s a bidding war, cash is king. And a recent Redfin study confirmed that it’s the only sure-fire way to win that dream house in a market this crazy.

Consumers more confident about making mortgage or rent

Housing Wire

Although many homeowners and renters continue to feel the economic pressure of the pandemic , they’re growing more confident that they can pay their rent or mortgage, according to the latest consumer confidence survey by Freddie Mac.

What is a bridge loan?

Housing Wire

If you’re a first-time homebuyer (or you already own a home), you’ve heard of mortgage loans. You have your conventional loans, FHA loans, VA loans, USDA loans and so on. But there’s another type of loan, not too many people are familiar with that can make the home buying process much easier.

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To Renovate or Not To Renovate Before You Sell

Keeping Current Matters

When thinking about selling, homeowners often feel they need to get their house ready with some remodeling to make it more appealing to buyers. However, with so many buyers competing for available homes right now, renovations may not be as vital as they would be in a more normal market.

Buyers are overpaying, but are there signs of a bubble?

Housing Wire

Home prices have skyrocketed in the past year, and data from Redfin backs up what buyers, sellers, and agents have known for months. The national average of home prices rose 14.4%

Home sellers are feeling good about 2021

Housing Wire

Home sellers are chomping at the bit. As the economy reopens, vaccinations continue to roll out and stimulus checks reach bank accounts across America, home sellers are increasingly optimistic.

Effects of UWM’s broker policy could be very damaging

Housing Wire

This month, United Wholesale Mortgage took the industry by surprise when it made a statement that it would block mortgage brokers from doing business with the company if they did business with either Quicken Loans or Fairway Mortgage.

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Could the great refi boom finally be over?

Housing Wire

A growing chorus of mortgage industry observers believe the final week of February might have been the last hurrah for sub-3% mortgage rates. And the proof is in the refi pudding.

About 7M refi candidates missed the “forever rate” boat

Housing Wire

A 40-plus basis point rise in mortgage rates over the past month resulted in approximately 7 million high-quality refi candidates who are no longer able to lock “forever rates,” according to a recent report from Black Knight.

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Insane lumber prices mean new homes cost $24K more

Housing Wire

With lumber prices and other building material costs still at record-high levels, homebuilder confidence fell two points in March, per the latest report from the National Association of Home Builders.

How Pueblo, Colorado became a hot housing market

Housing Wire

The progression of homebuying over the past year has seen prospective buyers adjusting their preferred destination plans again, and again, and again.

What happens to Realtors if the PRO Act passes?

Housing Wire

Last week, the U.S. House of Representatives passed what is known as the PRO Act , a bill which aims to empower unions in the 27 “right to work” states and impose the Dynamex ABC test regarding independent contractor status on the country as a whole. Realtors be forewarned.

Biden signs American Rescue Plan. Here’s what that means

Housing Wire

President Joe Biden signed the American Rescue Plan Thursday, freeing up $1.9 trillion aimed at invigorating the economy following the COVID-19 pandemic.

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Vacation towns, suburbs see real estate boom

Housing Wire

Roughly a year after the COVID-19 pandemic began in the United States, and more people than ever are buying residential real estate in vacation towns and suburbs, per a report from Redfin.

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5 Reasons to Sell Your House This Spring

Keeping Current Matters

When selling a house, most homeowners hope for a quick and profitable transaction that puts them in a position to make a great move. If you’re waiting for the best time to win as a seller, the market is calling your name this spring.

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Are we seeing a cash-out refinance crisis?

Housing Wire

I hear a lot of chatter about a boom in cash-out refinances, and the presumption seems to be that this is destined to wreak havoc on the housing market and the economy at some point.

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New home sales plunge 18.2%, but demand stays strong

Housing Wire

After a near decade high in January, new home sales for single-family houses plummeted 18.2% to a seasonally adjusted annual rate of 775,000 in February — the sharpest month-over-month decline since 2013, according to estimates by the U.S.

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Employment gains could help housing inventory

Housing Wire

After three months of mediocre gains , the U.S. unemployment situation brightened considerably in March. Total nonfarm payroll employment rose by 916,000 and pushed the unemployment rate down to 6%, according to the U.S. Labor Department.

Housing inventory is down 40%. Buyers are paying the price

Housing Wire

Prices are up sharply as housing inventory continues to plateau , leaving 40% fewer homes on the market compared to last year, according to a report prepared by Black Knight. Instead of making up for the shortfall, new listings have slumped further in 2021.

Will trillions in stimulus push mortgage rates over 5%?

Housing Wire

Whether we personally were infected by COVID-19 or not in the past year, we all suffered the pains of a sick economy as members of the American family.

Will the next job wave mean the end of forbearance?

Housing Wire

Last Friday, the Bureau of Labor Statistics reported that 916,000 jobs were created in March, and the previous month’s revisions came in positive. The rest of this content is for HW+ members. Join today with an HW+ Membership ! Already a member? log in.

For the first time since July, mortgage rates pass 3%

Housing Wire

The average mortgage rate for a 30-year fixed loan rose 5 basis points last week to 3.02%, marking the first time since July that the industry has seen rates break above 3%, according to Freddie Mac ’s Primary Mortgage Market Survey.