Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy.

How to simplify the appraisal process for everyone in today’s hot market

While the world might be slowly getting back to normal, the housing boom is far from over. Appraisers need to make sure they have the right tools to manage the high demand.

Robert Dietz on why the single-family rental market is growing

In this episode of HousingWire Daily, NAHB's Robert Dietz explains why the marketshare of single-family rentals is growing despite strong homebuyer demand. He also discusses the NAHB’s latest Housing Market index.

Real Estate

Home price index sees greatest gain in over 2 years

Phoenix leads the way, gaining for the 15th consecutive month above all other metros

The S&P CoreLogic Case-Shiller index of home prices in 19* U.S. cities rose 5.7% in August from a year ago, the greatest year-over-year gain since 2018, driven unsurprisingly by tightened supply amid record-low interest rates.

The August increase was larger than the 4.8% advance the month prior, and the largest annual gain since July 2018, when rates sat closer to 4.52%.

“By some measures, home prices are rising at a faster pace than they ever have – an incredible feat considering the market is rising from an already elevated level. The supply of for-sale homes, already extremely tight, has only become more constrained in recent months, and historically low mortgage rates continue to encourage many buyers to enter the market,” said Matthew Speakman, economist at Zillow.

According to Speakman, this heightened competition for the few homes on the market has placed consistent, firm pressure on home prices for months now, with few signs that this will relent any time soon.

Though supply remained tight, the industry may be catching up, as single-family housing starts rose to an annual rate of 1.108 million in September, a level not seen since 2007, and up from August’s 1.021 million, according to the U.S Census Bureau.

Looking through a more localized lens, Phoenix experienced the steepest year-over-year gain, rising 9.9% – the 15th consecutive month Phoenix home prices rose more than those of any other city, the report said. Seattle took the second-greatest increase, up 8.5%, with San Diego following at 7.6%.


How servicers can prepare for potential default wave

Sutherland Mortgage Services President Krish Swaminathan discusses the next wave of servicing, how servicers can best communicate with their customers and the technology available to help with compliance, even in a work-from-home environment.

Presented by: Sutherland

According to Craig Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices, it’s a measure of the housing market’s strength that even the worst-performing cities, Chicago (1.2%) and New York (2.8%), did better in August than in July.

“A trend of accelerating increases in the index began in August 2019 but was interrupted in May and June, as COVID-related restrictions produced modestly decelerating price gains,” Lazzara said. “If future reports continue in this vein, we may soon be able to conclude that the COVID-related deceleration is behind us.”

Though home prices continued to rise in August, homebuyers showed little interest in slowing down, driving new home sales 4.6% year-over-year to a pace not seen since 2006.

*Note that typically the Case-Shiller index includes 20 cities, however, due to COVID-19 delays sufficient records for Detroit could not be generated.

Leave a comment

Most Popular Articles

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy. HW+ Premium Content

Oct 25, 2021 By and

Latest Articles

What does the future hold for appraisal tech?

HW+ Managing Editor Brena Nath had the opportunity to catch up with Global DMS President and CEO Vladimir Bien-Aime at MBA Annual to talk more about what’s next for the appraisal industry in terms of technology.

Oct 27, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please