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.

Investments

Cash home sales share drops to 38.9% in January 2015

But cash sales increased 3.2% on a monthly basis

Cash sales made up 38.9% of total home sales in January 2015, down from 41.4% in January 2014, and from the peak of 46.5% in January 2011, according to CoreLogic (CLGX).

The year-over-year share has fallen each month since January 2013, making January 2015 the 25th consecutive month of declines.

Month over month, the cash sales share increased by 3.2 percentage points, which is typical in the month of January.

Due to seasonality in the housing market, cash sales share comparisons should be made on a year-over-year basis.

Click to enlarge

(Source: CoreLogic)

The cash sales share peak occurred in January 2011 when cash transactions made up 46.5% of total home sales in the U.S. Prior to the housing crisis, the cash sales share of total home sales averaged approximately 25%. Should the cash sales share continue to fall at the same rate that it did in January 2015, the share should decrease to 25% in mid-2018.

Real estate owned (REO) sales had the largest cash sales share in January 2015 at 60%, followed by short sales (34.5%), re-sales (38.5%) and newly constructed homes (17.3%). While the%age of REO sales that were cash transactions remained high, REO transactions made up only 9.9% of all sales in January and, therefore, had a small influence on the overall cash sales share. In January 2011, when the cash sales share was at its peak, REO sales made up 23.9% of total home sales.

Click to enlarge

(Source: CoreLogic)

Florida had the largest share of any state at 56.3%, followed by Alabama (54.7%), New York (48.2%), Indiana (47.4%) and Missouri (47%). Of the nation's largest 100 Core Based Statistical Areas (CBSAs) measured by population, Detroit-Dearborn-Livonia, Mich. had the highest share of cash sales at 65.6%, followed by Miami-Miami Beach-Kendall, Fla. (59%), West Palm Beach-Boca Raton-Delray Beach, Fla. (58.4%), Cape Coral-Fort Myers, Fla. (58%) and Fort Lauderdale-Pompano Beach-Deerfield Beach, Fla. (57.6%). Washington-Arlington-Alexandria, D.C.-Va.-Md. had the lowest cash sales share at 16.2%. 

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