The key to implementing non-QM products

With the refi boom falling off and the margin compression happening to lenders nationwide, lenders are looking at non-QM to help fill in those gaps. Learn how to implement non-QM products here!

RealTrends 2021 Team Profitability Study

Brokerage firms have often speculated about how well teams perform from a profit and loss point of view, as well as how productive they are. In this research study, RealTrends answers these two big questions.

Proven Strategies for Accelerating eMortgage Adoption with Freddie Mac and Better

This webinar will cover how the industry is working to overcome challenges lenders experience in adopting eClosings. You’ll hear from industry leaders at Snapdocs, Freddie Mac and Better Mortgage. Register now!

Logan Mohtashami on existing home sales, mortgage rates

Today’s HousingWire Daily begins the Rundown miniseries where HousingWire’s Editor-in-Chief Sarah Wheeler and Lead Analyst Logan Mohtashami will talking about housing and economics every Monday.

Real Estate

Average home listing price reaches all-time high

Home prices projected to set new records in 2019

In March, the average American home listing price reached $300,000 for the first time ever, according to Realtor.com’s Housing Trend Report.

“The typical U.S. home list price has set a new high right on the cusp of the spring homebuying season, and despite a slowing growth rate, home prices will likely continue to set new records later this year,” Realtor.com Chief Economist Danielle Hale said.

Unfortunately, Hale does not expect housing inventory to set records, especially as supply continues to lag.

“Heading into spring, U.S. prices are expected to continue to rise and inventory is expected to continue to increase, but at a slower pace than we’ve seen the last few months as fewer sellers want to contend with this year’s more challenging conditions,” Hale said. “A buyer’s experience will vary notably depending on the market and price point they’re targeting.”

In fact, according to Realtor.com’s analysis, entry-level inventory scarcity continues as homes priced $200,000 or below decreased 9% year-over-year.

That being said, inventory of for-sale homes priced over $750,000 rose by 11% from the previous year.  

There were 56,000 additional homes were for sale in March compared to last year, amounting to a 4% increase year-over-year, according to the report. Realtor.com attributes this growth primarily to the nation’s 50 largest markets, which grew by 9% from the year prior.

The number of newly listed properties hitting the market declined by 0.4% from 2018, suggesting that although buyers may have more options, the share of “fresh properties” for sale has not increased, according to the company.

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3d rendering of a row of luxury townhouses along a street

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