Mortgage Tech Demo Day

In a half-day format, technology companies will demo their platforms and answer questions. You can tune in for the whole demo day, or strategically drop in on sessions to learn about specific solutions.

DOJ v. NAR and the ethics of real estate commissions

Today’s HousingWire Daily features the first-ever episode of Houses in Motion. We discuss the Department of Justice’s recent move to withdraw from a settlement agreement with the NAR.

Hopes for generational investment in housing fade in DC

Despite a Democratic majority, the likelihood of a massive investment in housing via a $3.5 trillion social infrastructure package appears slim these days. HW+ Premium Content

Road to the one-click mortgage

This white paper will outline how leveraging a credential-based data provider can save money for lenders, reduce friction for borrowers, speed time to close, and overall bring lenders one step closer to a one-click mortgage.

Real EstateMortgage

3 signs California housing is on the brink of something huge

Housing affordability finally cools, inventors loosen grip

Six years after the financial crisis and California is still feeling the leftover ripple effects of loose lending standards and an overabundance of foreclosed homes. But things are looking up.

Looking at recent report headlines, California still has a few gems to give it hope going forward.

California

1. Housing affordability finally froze.

According to the latest report from the California Association of Realtors, after six consecutive quarters of declines, California’s housing affordability held steady in the fourth quarter of 2013, finally giving buyers a second to breathe. 

The percentage of homebuyers who could afford to purchase a media-priced, existing single-family home in California remained unchanged from the pervious quarter at 32%, but was down from 48% last year, the CAR Traditional Housing Affordability Index. 

California houses

2. Investors pull out of market.

The tight supply of inventory is finally forecasted to turn around, with the Zillow Home Price Expectations Survey, a pool of opinion from 110 economists, predicts housing market demand will gently ease through the next few years.

“Buyers entering the market in the next few months will not be competing with cash-rich investors like they were last year which should be some small solace given the higher prices and mortgage rates that they will encounter," said Zillow Chief Economist Stan Humphries.

This is good news for Florida, which has drastically suffered from tight inventory. 

According to a CAR report in January, California home sales dipped 5.9% from 2012 to 2013 as the market felt the pinch of tighter inventory levels and higher prices. 

California

3. Spring buying season is around the corner.

While the results of the changes have yet to be seen, sellers and buyers are heading into the spring season, setting the market up well for the peak buying season.  

"Two of the bigger questions hanging over the housing market right now are, ‘How much pent-up demand is left out there?’ and, ‘Will inventory skyrocket this year as more owners take advantage of the price run-up?’” said John Walsh, DataQuick president.

However, Walsh noted that people will likely have to wait until spring for answer, but luckily that is less than two months away.   

Most Popular Articles

Are we back to a normal housing market?

Favorable demographics should keep the housing market ticking. But watch for home prices escalating out of control and rates moving up sharply, writes columnist Logan Mohtashami. HW+ Premium Content

Jul 26, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please