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 Estate

Good news: More evidence that first-time homebuyers are ready to buy

But there's bad news too

TransUnion recently reported that there will be a flood of first-time homebuyers in the market over the course of the next three years.

Now, it looks like that flood may be ready to start, but the news isn’t all good.

The latest Housing Trends Report for the National Association of Home Builders, which surveys prospective homebuyers for their sentiments on buying a home, revealed that the fourth quarter of 2019 saw the fifth consecutive year-over-year drop in the share of American adults who said they plan to buy a home in the next year.

According to the report, Q4’s report showed that only 11% of adults said they want to purchase a home in the coming year, down 2% from 2018’s 13%.

But, despite this number inching down, the report holds some positive news as well.

In fact, 63% of those who said they plan to buy a house are first-time homebuyers. This is much larger than a year earlier, when 53% of prospective homebuyers were first-timers.

Broken down by age group, it’s Millennials who are most likely to make a home purchase, with 19% of the overall share. Following not too far behind is Gen Z, with 13% and Gen X, with 12%, the report said.

Those prospective buyers in the two younger generations are, for the most part, first-time buyers.

Of the Gen Z prospective buyers, 88% would be first-time buyers, while 78% of Millennials would be first-time buyers. Interestingly, 57% of Gen X buyers would be first-timers and 20% of Boomers said they would be first-timers, too.

To no surprise, only 5% of Boomers said they have plans to purchase a home. Lately, there has been an “aging in place” trend, which may provide a reason for this small percentage.

Geographically, 12% of those surveyed were prospective homebuyers in the South and West, in front of the 10% in the Northeast and 9% in the Midwest.

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

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