The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

A real estate professor weighs in on the future of MLSs

According to research done by Sonia Gilbukh, a real estate professor at Baruch College, there are some reasons to be concerned about the current number of real estate agents and the future of MLSs.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Real Estate

California home sales surge

An estimated 48,118 homes and condos sold in July

A growing supply of properties in California caused a surge in new and resale homes and condos sold, with sales rising to a seven-year high in July, California-based research firm DataQuick posted.

An estimated 48,118 new and resale homes and condos sold in July, up 17.3% from 41,027 in June and an increase of 21.8% from 39,507 sales a year earlier, the firm noted.

Last month’s sales count was the highest for July since 66,929 homes sold back in the housing heyday of 2005. Additionally, last month was the first time California sales were above average for any month since September 2006.

On a similar note, DataQuick revealed this week that July sales in Southern California came close to historic norms, falling just 0.5% below the average number of sales historically expected for the month of July.

July sales in the past two decades have fallen as low as 30,596 sales in 1995 and as high as 71,886 in 2004. Last month’s sales were 3.8% above the average of 46,364 sales for all of July since 1988, when DataQuick began recording statistics.

The median price paid for a home in California rose 3.1% to $363,000 in June and was also up 29.2% from $281,000 from a year earlier.

Last month was the 17th consecutive month in which the state’s median sale price rose year-over-year.

Of the existing homes sold in July, 8.4% were properties that were foreclosed on during the past year — the lowest level since July 2007.

Meanwhile, short sales made up an estimated 14.6% of all homes that resold in July, down from an estimated 15.7% in June and 26% a year earlier.

The average monthly mortgage payment that California buyers committed themselves to pay in July was $1,457, up 58.3% from last year, but down 36.9% from the typical payment in spring 1989 — the peak of the prior real estate cycle, DataQuick revealed.

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Existing home sales pop the 2021 housing bubble boys

So far this year, every existing home sales print has been higher in 2021 than the closing level of sales in 2020, which was 5,640,000. Even with the unhealthy home price gains that we have seen in the last two years, more Americans have bought homes with mortgages in 2020 and 2021 than any single year from 2008-2019, and this looks perfectly normal with our current demographics. HW+ Premium Content

Sep 22, 2021 By
3d rendering of a row of luxury townhouses along a street

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