A new Redfin report shows 42.9% of home sales during the three months ending April 30 involved seller concessions—just under February’s record high of 45.6% and nearly double the 25.5% from April 2022.
Byron Lazine, Tom Toole, and Lisa Chinatti discuss mortgage rates rising amid debt ceiling talks, sacrifices buyers make to afford a down payment, the cost of online lead generation, and buyers turning to real estate agents for financing advice.
This week’s Hot Sheet recap includes reasons why real estate agents need to stay informed on both macro and micro trends, along with every segment Byron Lazine covered the week of May 22nd-May 26th.
Fannie Mae’s Economic and Strategic Research (ESR) Group released its revised forecast on May 19th. The group expects the U.S. to enter a mild recession later this year, along with a decrease in home prices.
On last week’s Knowledge Brokers Podcast, KCM Chief Economist George Ratiu joined Byron Lazine, Tom Toole, and Lisa Chinatti to discuss, among other things, how agents can break down the math for sellers locked into lower mortgage rates.
Byron Lazine, Tom Toole, and Lisa Chinatti discuss the latest CPI report and what it means for mortgage rates, close to peak rent inflation, Lawrence Yun calling out the Fed, and another drop in inventory.
The Fannie Mae Home Purchase Sentiment Index® (HPSI) continued its recent upward trend in April, climbing 5.5 points to 66.8—the highest since May 2022.
The latest quarterly report from the National Association of REALTORS® (NAR) shows nearly seven out of 10 (152 of 221) U.S. metros saw home price gains in Q1 2023 as 30-year fixed mortgage rates hovered between 6.1% and 6.7%.
The Hot Sheet recap for May 1st – 5th covers what the Fed’s rate hike means for the housing market, the current seller’s market, CoreLogic’s Home Price Insights, and Steve Harney’s take on home prices.
Tom Toole and Lisa Chinatti discuss the drop in mortgage rates after the Fed’s latest rate hike, whether Powell’s speech was actually positive, the April monthly housing report trends, and Q2 strategy advice for knowledge brokers.
A new Redfin report finds real estate investors losing money on about one of every seven (13.5%) U.S. homes they sold in March, largely due to high mortgage rates dampening buyer demand.
In the race to homeownership, Gen Z gained a slight edge over their parents’ generation. A new Redfin report shows 30% of Gen Z reached homeownership by age 25 in 2022, compared to 27% of Gen X, 28% of millennials, and 32% of baby boomers at that age.
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