An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How servicers can access timely, accurate data insights

Learn how to navigate the challenges in today’s market – for example, the need for ongoing, on-demand access to near-real-time data and the ability to access those data insights in a timely and accurate manner.

Steve Murray on new brokerage models, CFPB crackdowns

Today’s HousingWire Daily features a discussion on the emergence of a new brokerage model and the validity behind the concerns against institutional investors.


Zillow: Existing home sales rebound for spring homebuying?

Estimated to increase after January collapse

Existing home sales should hopefully perform better in the upcoming February release after plummeting to the lowest rate in nine months, painting a dimmer forecast for the upcoming spring homebuying season.

According to the National Association of Realtors’ January numbers, existing home sales collapsed 4.9% to 4.82 million, well below analyst expectations, led by a massive drop in western regions.  

“January’s drop in existing home sales is a bit concerning,” said Bill Banfield, vice president at Quicken Loans, at the time of the release. “Economic indicators and stubbornly-low interest rates would lead most to expect improvement, yet recent housing reports have indicated the opposite. Inventory is a number I’ll be watching in the coming months as it has the power to help existing sales bounce back.”

The next existing home sales report will come out Monday, and while it is not expected to be a significant increase, Zillow (Z) does forecast it will rise 1.3% to 4.88 million seasonally annual rate in February.

Zillow’s forecast uses a best-fit combination of two models, a structural model and a historical modle.

And hopefully this is just the start of more good news.

“Although weak fundamentals – including a falling homeownership rate and flat interest rates – held back sales, there are potentially positive signals for the months ahead,” Zillow said in its forecast report.

Here is Zillow’s chart outlining the past numbers.

Click to enlarge


Source: Zillow

Most Popular Articles

FHFA to make desktop appraisals permanent

Desktop appraisals, a temporary flexibility implemented in March 2020 amid lockdowns and social distancing, will become permanent, the FHFA said today.

Oct 18, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please