Slow Down?

[Paul Kinuthia]

Just wondering from the other people on the forum, is the work really slow out there or is it just me?

 

[James Micozzi]

It' the time of year. Always slows down now in the majority of markets.

 

[bnmappraisal]

it's just slow out there in the lending world

I've spoken with 5 of my main lending clients (out of a steady 7) and even they are all very slow. This is direct lenders and small AMCs

 

[ucbruin]

This slowdown (and entire 2018) feels more extreme than those in the past....
Hoping I'm wrong....

 

[Elliott]

ATTOM Data Solutions Headlines and I believe I read refinances are at a 16-year low. Fair to say mortgage activity is down because of high interest rates and high price of real estate.

U.S. Home Affordability Drops to More Than 10-Year Low in Q4 2018

• Christine Stricker
• December 19th, 2018

U.S. Home Flips Down 12 Percent in Q3 2018 to 3.5-Year Low

• ATTOM Staff
• December 5th, 2018

• 
  
  

Residential Mortgage Originations Drop 21 Percent in Q3 2018

• Christine Stricker
• December 11th, 2018

U.S. Foreclosure Activity Down From Year Ago in October But Up in 38 Percent of Local Markets

Bank repossessions bounce back from all-time low in December
Lenders repossessed a total of 10,810 U.S. properties through foreclosure (REO) in October 2018, up 119 percent from an all-time low in the previous month, and up 10 percent from a year ago.

 

[J Grant]

Just wondering from the other people on the forum, is the work really slow out there or is it just me?

The worst Dec I've ever had, as in ever, and prior month Nov pretty bad too. If it remains this slow lenders and RE agents will suffer as well. A combination of higher interest rates, homes prices that rose in past 2 years , and people jittery about the economy.. Might depend on if feds lower the rates, if not, looks like slow times ahead though one hopes at in spring some sales will take place.

Then there are the changes in our own profession and it's hard to tell how much that is affecting things apart from the slowdown of market. But the changes have not helped it and likely is hurting it.

 

[BRCJR]

The portfolio I manage is up 10% YTD, 17 vs 18, on assignments placed. More current, December is down 20% month over month, 17 vs 18, with a couple of days to go.
This is a mix of commercial (office, apartments, subdivision development, retail, industrial, etc.), agriculture, vacant land and residential 1-4.

 

[Carnivore]

This slowdown (and entire 2018) feels more extreme than those in the past....
Hoping I'm wrong....

I tend to agree with you. Historically its always slower in winter months. Certainly the rise of interest rates has some dampening effect. The sales volume has been fairly huge over the past couple of years. That I am sure was caused by pent up demand due to economy uncertainties prior to that. Job security and having new job options if your laid off fueled much of the demand.

I am guessing a bump in Refi's might occur soon ..refinancing of short term spending, .it also depends on the fed's.

 

[James Micozzi]

Of course this thread turned into a series of posts from "economic prognosticators" who want to predict the future.

 

[Tom4value]

Had a good year but died down significantly last 3 weeks. Probably having the holiday slowdown I didn’t get last 3 years and now I am spoiled!

Refis are drying up due to rates. Refi just to get a lower rate is gone. Refis are only for cashout. Purchases should pick up next month as I know. Lot of listings canceled for holidays. They will soon be back on.