Solving the Post-Close Challenge with Intelligent Automation

Join our upcoming webinar as SoftWorks AI CEO and Avanze CEO explore the advances in tech that allow for greater levels of automation and cost reduction, especially in support of post-close and pre-fund review.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

The 100-years-war over real estate commissions

HousingWire plunges down the rabbit hole of residential real estate commissions, uncovering the past, present and future of this wholly unique part of the economy.

How borrower education can make housing more attainable

The current housing market is making it difficult for prospective buyers to afford a home. Housing professionals need to find ways to better meet buyer needs.

Politics & Money

What’s next for the overheated housing market?

Home prices are at an unhealthy level

HW+ house roof

According to the National Association of Realtors, March’s existing-home sales came in at 6.01 million. Because March 2020 sales were slightly weaker due to the start of COVID-19, the year-over-year growth in sales for March 2021 came in at 12.3%. For the housing market, the COVID crisis started in earnest the week of March 23, as that is the last week we saw positive year-over-year data in 2020 before COVID-19 really took us for a ride.

So take this year-over-year demand data with a grain of salt. Next month will have a much bigger year-over-year growth sales print. Likewise, later in the year, we can expect to see some significant negative year-over-year prints, because 2021 is being compared to months of make-up demand.

From NAR:

My biggest fear for the U.S. housing market has been that home prices could escalate to an unhealthy level in the years 2020-2024. You may recall that I repeatedly warned that this could happen and this is now happening. We now have what I would consider to be the unhealthiest housing market in the last 10 years. According to the current NAR data, the median sales price jumped 17.2% year over year. Holy Hot Home Price Growth Batman!

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