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

Median home prices finally pass housing boom levels, hit all-time high

Distressed home sales drop to 9-year low

Home prices hit a new all-time high, finally surpassing the pre-recession peak, according to the Q3 2016 U.S. Home Sales Report from ATTOM Data Solutions, a source for comprehensive housing data and the new parent company of RealtyTrac.

In fact, the median home price increased 6% monthly to $230,000 in the third quarter, and is up 10% from last year. This is 1% above the pre-recession peak of $227,000 in 2005 and an all-time high in home prices.

“We are seeing the average seller home price gain since purchase start to wane in some of the highest-priced markets where appreciation is beginning to cool, indicating those markets are past their prime as sellers’ markets,” said Daren Blomquist, ATTOM Data Solutions senior vice president.

“Meanwhile there are still a number of buyers’ markets across the country where a high level of lingering distress and relatively weak demand from owner-occupant buyers provides investors with plenty of bargain-buying opportunities,” Blomquist added.

Some states, such as Texas, don’t look like they’ll be cooling off anytime soon, according to a new report from the Texas Association of Realtors.

Although home prices are up, borrowers are not having problems making their mortgage payments, with distressed sales down in the third quarter. Distressed sales now sit at the lowest level in nine years, according to the report.

Distressed sales dropped to 12.9% for all single family home and condo sales in the third quarter, down from 15% last quarter and 15.9% last year, the report stated. This marks the lowest share since the third quarter of 2007.

“Distressed inventory for sale is virtually non-existent in many of the nation’s hottest housing markets, and when a distressed property is listed for sale in those markets it often sells quickly and at little or no discount,” Blomquist said.

“The scarcity of discounted distressed inventory is chasing away cash buyers and other bargain hunters, but it’s certainly good news for home sellers, who nationwide realized the biggest home price gains since purchase in nine years,” he said.

In addition, the share of distressed sales is significantly lower than the 2009 peak of 43.9% of all single-family home and condo sales.

Cash sales also decreased in the third quarter, falling to 27.4% of market sales. This is down from 29.2% last year and the lowest level of cash sales since the third quarter of 2007’s 24.3%.

Latest Articles

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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