“Reflections on the Top Marketing Leaders of 2023: A HousingWire Retrospective”

The Marketing Leaders accolade by HousingWire is an esteemed recognition which honors exceptional individuals who have showcased their marketing prowess in the realms of mortgage and real estate.

“Rising Trends: Overcoming the 2022 Lows in New Home Sales”

It’s essential to keep in mind that constructors are experiencing a boost in sales due to the current sub-6% mortgage rate environment, which is a stark contrast from the current conditions in the pre-existing homes sector.

“Unveiling the Implications: The Real Consequences of Commission Lawsuits in the Real Estate Industry”

A group of brokerage pioneers recently engaged in a conversation revolving around the countless possible effects of the ongoing commission lawsuits on the real estate industry. The discussion highlighted topics right from the methodology of buyers compensating agents to the repercussions on Errors and Omissions (E&O) insurance.

“HUD’s New Directive: Final Rules for Ensuring Flood Risk Protection in Housing”

The goal of the Federal Flood Risk Management Standard (FFRMS) is to safeguard both households and government-funded projects from the threats of upcoming flooding occurrences. This standard exists to ensure future safety by mitigating potential risk of flood incidents.

“Unraveling the Impact of Fed Data on Housing Trends: Expert Insights”

In a recent discussion at The Gathering, three eminent panelists – Logan Mohtashami, Mike Simonsen, and Daryl Fairweather – shed light on the current scenario of the real estate market. They contributed valuable perspectives and shared in-depth analysis based on their extensive experience and proficiency in real estate.

“Preliminary Approval Granted to NAR Commission Lawsuit Settlement: A Detailed Overview”

Preliminary sanction has been conferred by Judge Stephen Bough on the commission lawsuit settlement agreement initiated by the National Association of Realtors (NAR). The case is scheduled to be further deliberated for final endorsement in an upcoming hearing in November.

“Exploring the Surge in Existing U.S. Home Sales Amid Pandemic Effects: A Deep Dive”

The real estate market experienced dynamic shifts in February and March. In February, there was a robust increase in the sales of existing homes, while new home sales marginally fell. However, the pattern altered in March as the sale of new homes escalated while existing home sales saw a reduction. This information was released through a combined report by the U.S. Census Bureau and the Department of Housing and Urban Development.

The report highlighted that newly constructed homes were sold at a seasonally adjusted annual rate of 693,000, a slight upward trend from 668,000 in February. Meanwhile, existing home sales plummeted from 4.38 million units to 4.19 million units. This spike in new home sales accounts for an 8.8% increase compared to February and stands 8.3% higher than in March 2023.

Sales including previously owned single-family homes, townhouses, condos, and cooperative apartments decreased by 4.3% and 3.7% relative to earlier periods. Particularly, sales of existing single-family homes dropped by 4.3% in March to a pace of 3.97 million units. Sales of condos and cooperative apartments were also down by 4.9% to 390,000 units. When compared to the previous year, single-family sales saw a dip of 2.8% while multi-family sales were down by 11.4%.

On the bright side, new home sales inflating by 10,000 from the 668,000 in February to 67,000 on non-seasonally adjusted figures exceeded expectations set by analysts at Trading Economics. They had projected new home sales to remain steady with a milder 2.2% decrease in existing home sales to 4.2 million units.

The inventory of new homes is promising, with 477,000 unsold homes, indicating an 8.3 month supply at the present rate of sales and a monthly growth rate of 5.7%. Old but currently available homes for sale grew by 4.7% to 1.11 million units. However, this remains low at a 3.2-month supply.

“Expansion of Executive Team at Mr. Cooper: A Detailed Overview”

Just one day prior to the unveiling of its first-quarter earnings report, the lending company welcomes onboard Ranjit Bhattacharjee and Kevin Barker. Their addition to the team has been met with anticipation in the lead-up to this important financial disclosure.

“Marching Ahead: A Comprehensive Analysis on the Rise of New Home Sales in March”

Despite market challenges, the appetite for real estate remains robust. The yearly pace of sales saw a rise of 8.8% since February, demonstrating unwavering interest in the sector.

“Understanding the Ups and Downs in New Home Sales: March 2024 Insights”

In February, the sales of newly-built houses saw minimal change. Approximately 662,000 homes, seasonally adjusted, were sold during this month, 0.3 percent or 2,000 units less than January’s figures. However, it did mark an increase of 5.9 percent in comparison to sales in February of the previous year. The U.S. Census Bureau and the Department of Housing and Urban Development reported an estimated sale of 60,000 units in the month against 57,000 in the preceding month and 56,000 in February the year before, with no adjustment for seasonal factors. In the year to date, new home sales have seen a rise of 4.4 percent on a year-on-year basis, reaching 117,000 units. During this period, the average selling price hovered around $485,000, with the median price being $400,500. These figures were slightly lower than the previous February’s relative prices of $433,300 and $499,100. The month ended with an estimated inventory of 451,000 new homes for sale, indicating an 8.4-month supply at the current rate of sales, a figure consistent with the previous year’s. Robert Dietz, a National Association of Home Builders economist, pointed out that inventory of ready-made homes had grown by 23 percent year-on-year to 85,000 houses. Simultaneously, homes listed for sale but with construction not yet commenced rose by almost 18 percent from the prior year to 106,000. However, the number of houses available for sale but still under construction fell by 2 percent to 272,000.