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.

Politics & MoneyReal Estate

Pending home sales crush hopes of forbearance crash bros

As the data shows, there are good reasons a housing crash is not going to happen

HW-atlanta-homes

The most recent pending home sales report that soundly beat estimates after a downtrend in the previous months caused some serious head-scratching. Pending home sales were up a healthy 8% from April and just over 13% compared to the same month last year. Of course, last year’s comps should be discounted due to COVID-19.

From the National Association of Realtors: “Pending home sales rose 8% in May from the prior month and 13.1% from one year ago. The May 2021 Pending Home Sales Index of 114.7 is the highest reading for May since 2005. Contract signings rose in all regions in May compared to the prior month and one year ago.

I agree the data looks wonky, but there is a method to the madness. Here is what is happening: The COVID-19 shutdowns paused sales during what looked to be a solid market going into the first few months of 2020. Once the fears of COVID-19 faded, the backup demand resulted in a straight vertical in sales data in the second half of 2020. Some of that make-up demand bled over into the early months of 2021. The weeks of stalled sales due to COVID-19 gave us a low bar to work from for 2021, so that is why the year-over-year data appears strong. 

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