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.

Zillow analyst on whether home prices can keep climbing

Today’s episode of HousingWire Daily features an interview with Nicole Bachaud, as she discusses annual and monthly home price appreciation growth, rising inventory levels and rent prices.

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.

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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