Housing Wire

DECEMBER 29, 2022

The housing market of 2002-2005 had four years of sales growth facilitated by credit. As we can see below, the purchase application data had four years of growth, peaking in 2005 and then collapsing. However, what isn’t identical is that we have not had a massive sales boom like we saw from 2002-2005. Housing inventory.

Housing Market 545

Housing Market Marketing Inventory Sellers 545

Housing Wire

NOVEMBER 13, 2023

Homebuyers’ median household income increased by $19,000 this year from 2022, reaching $107,000, according to the National Association of Realtors ’ 2023 Profile of Homebuyers and Sellers. The report is an annual survey of homebuyers and sellers who closed transactions between July 2022 and June 2023.

Real Estate Agent 350

Real Estate Agent Real Estate Agents Sellers 350

Housing Wire

DECEMBER 7, 2022

As you can see from the chart above, the last several years have not had the FOMO (fear of missing out) housing credit boom we saw from 2002-2005. What I mean by a credit bust is that after the housing bubble burst in 2005 into 2006, we saw a massive increase in supply. Total inventory levels. NAR: Total Inventory levels 1.22

Housing Market 540

Housing Market Mortgage Marketing Inventory 540

Housing Wire

DECEMBER 21, 2022

In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! Plus, available housing inventory remains near historic lows.” ” One of the housing economic realities that I have been trying to stress this year is that a traditional seller of a home is typically a buyer as well.

Inventory 505

Inventory New Listings Housing Market Sellers 505

Housing Wire

NOVEMBER 9, 2022

But I need to explain why this level has more in common with 2014 housing data than the credit stress markets of 2005-2008, and why you should care. Inventory levels broke to all-time lows and thus created massive housing inflation quickly, which broke my model. Traditionally, inventory levels have been between 2 million to 2.5

New Listings 467

New Listings Inventory Housing Market Sellers 467

Housing Wire

MARCH 18, 2022

Inventory has broken to all-time lows, but it doesn’t look like the year-over-year data will be positive at all this year unless demand softens up. NAR Research : Unsold inventory sits at a 1.7-month NAR Research : Unsold inventory sits at a 1.7-month However, negative year-over-year inventory is not what we want to see.

Housing Market 540

Housing Market Marketing Inventory Sellers 540

Housing Wire

JUNE 28, 2022

Since 2014, we’ve not seen the credit housing boom that we saw from 2002-2005. The housing market can’t replicate the type of massive credit expansion we saw from 2002-2005, so the price-growth story has more to do with inventory collapsing to all-time lows. This is because the biggest buyers of homes are mortgage buyers.

Housing Market 447

Housing Market Marketing Inventory Investors 447

Housing Wire

AUGUST 30, 2022

While the growth rate is cooling monthly, we are still in a savagely unhhealthy housing market trying to get national inventory levels back to pre-COVID-19 levels. Housing inventory issue with no booming demand. However, we haven’t had a credit sales boom like the one we saw from 2002-2005. million listings.

Inventory 381

Inventory New Listings Law Housing Market 381

Housing Wire

JUNE 27, 2023

They’re effective sellers and don’t want to create a backlog of completed units for sale because that would ruin their business model. Some people prefer something other than the current active existing inventory. Also, in the chart below, we can all agree it isn’t housing 2005 or housing 2008 with new home sales.

Construction 480

Construction Inventory Marketing Buyers 480

Housing Wire

AUGUST 23, 2022

can’t have a credit sales boom like we saw from 2002-2005. This means we won’t be working from record-breaking demand of high sales like we did at the peak of 2005. The builders are in a better position to manage their inventory glut than when they were working from a credit boom in 2005 that took new home sales up to 1.4

Construction 369

Construction Housing Market Sellers Marketing 369

Housing Wire

MARCH 23, 2022

Second, because of the downtrend in inventory since 2014 and the demand pick-up we will see in the years 2020-2024, we had a risk of home prices accelerating too much. It’s also driven more by mortgage buyers who tend to be older and make more money than the new-home buyers. First, total home sales should be 6.2

Mortgage 440

Mortgage Inventory Housing Market Construction 440

Housing Wire

FEBRUARY 24, 2023

They don’t ever have to have the conversation about how low their total payment is in the new home they’re buying, unlike some of their buyers (which explains higher cancellation rates). If sales are working from an elevated number, like what we saw from 2003-2005, it’s a different subject altogether. This represents a supply of 7.9

Inventory 423

Inventory Construction Housing Market Mortgage 423

Housing Wire

APRIL 25, 2023

You know, the one that says we have too much inventory and millions of vacant homes in the U.S.? However, the people who say low inventory is fake news don’t realize that housing credit channels are very different from 2008, which has prevented total active listings from looking anything like 2008. percent (±15.2 percent (±12.7

Inventory 460

Inventory Housing Market Construction Marketing 460

Housing Wire

APRIL 15, 2022

The home-price growth from 2020 through 2022 has been so unhealthy that I’ve labeled this a savagely unhealthy housing market as inventory has once again collapsed on a year-over-year basis in 2022. Inventory is still showing negative year-over-year data. 2014 was the very last year total housing inventory grew in America.

Housing Market 492

Housing Market Marketing Mortgage Inventory 492

Housing Wire

FEBRUARY 16, 2023

Last year we had monthly existing home sales collapse back to 2007 levels, except this time around, NAR has total inventory at 970,000 and not over 4 million. However, to my first point, the builders are lucky that total housing inventory is near all-time lows because this means their product holds more value. months and above.

Construction 470

Construction Housing Market Inventory Mortgage 470

Housing Wire

DECEMBER 22, 2021

I understand that grifters have to keep the grift going, but not even the Joker would say that the housing market lives off investors and not mortgage buyers. As you can see below, we don’t have a booming credit housing market as we saw from 2002-2005; we have steady replacement buyer demand.

Inventory 456

Inventory Housing Market Investors Marketing 456

Housing Wire

MARCH 28, 2022

The one thing that has happened in 2022 that has been worse is that national inventory levels have worsened in 2022 to start the year. Inventory has been falling for years. Logan Mohtashami: People know that I haven’t been a big fan of this housing market since inventory levels broke under 1.52 months on a 3-month average.

Housing Market 309

Housing Market Marketing Supply Chain Inventory 309

Lamacchia Realty

JANUARY 25, 2024

It kept inventory down, which propped up prices, but sales are down nearly 22%, and buyers are hungry. A year later, still no crash, which had more to do with the decrease in inventory than the decrease in sales. A lot of it had to do with anemic inventory. Average prices for closed sales increased by 3.4%

Inventory 69

Inventory Sellers Contracts Buyers 69

Housing Wire

APRIL 27, 2022

The new home sales market doesn’t have a 28% cash-buyer profile as we saw in the last existing home sales report. So, while cash buyers as a percent of sales have been growing, this sector is driven by mortgage buyers primarily. Builders have to find buyers for canceled homes, then think about their demand.

Construction 325

Construction Buyers Housing Market Inventory 325

Housing Wire

DECEMBER 23, 2022

The truth here that nobody wants to talk about is that we didn’t have a massive sales credit boom in housing from 2020-2021 like we saw from 2002-2005. We must remember that the builders don’t operate like existing home sellers; they treat their products as commodities. The monthly supply data did fall in this report to 8.6

Construction 338

Construction Housing Market Mortgage Sellers 338

Lamacchia Realty

MARCH 26, 2024

Elevated condo association and special assessment fees present an additional financial burden for condo owners, deterring potential buyers unless the purchase price is reduced sufficiently to offset the higher ongoing monthly costs. Source Condo inventory has been rising more than single families as sales have been decreasing since 2023.

Bracketing 60

Bracketing HOA Sellers Buyers 60

Lamacchia Realty

OCTOBER 25, 2023

PRICE ADJUSTMENTS AND THE 2023 MARKET In March 2022, it was clear that the market was changing from a frenzied post-pandemic scene to one where it was assumed that rising mortgage rates would slow it down and help inventory finally rise back up. Inventory didn’t increase at the rate most assumed it would. It means they’re down.

Bracketing 65

Bracketing Marketing Sellers Buyers 65

Lamacchia Realty

JUNE 21, 2022

In early March it was becoming clear that the market was changing from a frenzied post-pandemic scene to one where rising mortgage rates would slow it down and help inventory finally rise back up. For the past few years, with inventory at historically low levels , sellers were coming pretty close to naming their price and buyers were paying.

Housing Market 65

Housing Market Bracketing Marketing Sellers 65

Lamacchia Realty

DECEMBER 28, 2021

It was the year of the frustrated buyer, particularly in the first half of the year. The inventory of homes for sale and the number of homes being listed for sale were not nearly enough to satisfy the buyer demand. Remember only one offer can win so this caused lots of disappointment for both buyers and buyer’s agents alike.

Sellers 74

Sellers Inventory Buyers Realtors 74

Lamacchia Realty

APRIL 15, 2022

Rates dropped to historic lows to keep buyers buying, prompting an influx of new applications and re-finances as obtaining a mortgage was more affordable than ever. Sellers kept listing, albeit, at a much slower pace, and buyers were buying at the highest rate in over 15 years, absorbing inventory faster than ever.

Marketing 66

Marketing Sellers Buyers Inventory 66

Lamacchia Realty

FEBRUARY 22, 2022

The 2021 Massachusetts Year in Review Housing Report breaks down average prices, sales, inventory, new active listings, and pending sales for 2021 compared to 2020 and illustrates what that means for the current market. Below is a graph that illustrates home sales per year since 2005. Inventory of Homes for Sale. to $633,518.

Inventory 51

Inventory Sellers Buyers Real Estate 51

Lamacchia Realty

DECEMBER 28, 2022

It will be much like 2021, with record-breaking amounts of home sales, more record-breaking home price appreciation, and more buyers fighting over homes. As you can see: This year will have the least amount of home sales since 2015 2021 sales were the highest since 2005 We also added our prediction for the end of 2022.

Sellers 78

Sellers Buyers Real Estate Inventory 78

Lamacchia Realty

JANUARY 27, 2023

in Massachusetts The 2022 Massachusetts Year in Review Housing Report breaks down average prices, sales, inventory, new active listings, and pending sales for 2022 compared to 2021 and illustrates what that means for the current market. Market adjustments, global pandemics, and anemic inventory are not for the faint of heart.

Inventory 63

Inventory Buyers Real Estate Sellers 63

Annarbor Appraisal

APRIL 9, 2020

In it I included a year over year chart of all sales through the local MLS back to 2005. This information clearly shows a declining trend from the 2005 data down to a low point between 2009 and 2011. Buyers, sellers, and the Realtors who work with them are adaptable, and some transactions have continued via virtual showings.

Buyers 78

Buyers Property Taxes Sellers Realtors 78

Lamacchia Realty

JULY 28, 2021

Many buyers, during the throws of the pandemic, wanted single family homes instead of communal living, and with that great demand and low inventory came great market value increases. High demand and tight inventory are the culprits for this rise. The chart below illustrates this phenomenon.

Inventory 68

Inventory Buyers Sellers Marketing 68

Lamacchia Realty

AUGUST 3, 2021

Though there were several months through winter and spring that it never seemed possible this year, the market is slowly beginning to be less competitive for buyers. It comes with a negative stigma for sellers to hear that a price adjustment is recommended. If you price your home even $50K over the rest, your home may be overlooked.

Bracketing 68

Bracketing Sellers Buyers Inventory 68

Cornerstone

SEPTEMBER 3, 2021

A very specific set of circumstances are bringing opportunities for both homebuyers and sellers. A housing inventory shortage. Thankfully, housing inventory levels have slowly begun to rise. For buyers desperately in need of more listings, this is exciting news. Bidding wars and high buyer competition.

Housing Market 49

Housing Market Marketing Inventory Loan Officers 49

Lamacchia Realty

JANUARY 28, 2022

The drop in early 2020 sales due to low winter inventory and then the pandemic made it easier for 2021 to outperform in that time frame. The post shut down race for buyers to secure homes in the later part of 2020 made it tough for 2021 to keep up and ultimately it didn’t happen. Its easy to see why inventory is so tight.

Buyers 45

Buyers Contracts Inventory Real Estate 45

Will Springer Realtor

DECEMBER 14, 2021

Buyers will continue to outstrip sellers by a significant margin but less extreme than in 2021. Buyers are seeing rates inch higher – currently at about 3.25% in Seattle/King County for a typical 30-year mortgage (rates vary based on an applicant’s circumstances). What will the 2022 Seattle/King County housing market offer?

Real Estate 69

Real Estate Buyers Construction Sellers 69

Appraisal Today

SEPTEMBER 22, 2023

A buyer gets a seller’s disclosure statement for that information. Values are so high that buyers are putting a lot of money down to lower the monthly payment as much as they can. I never had more than one assistant and no appraisers after that, and finally quit doing lender residential appraisals in 2005.

Appraisal 86

Appraisal Training Inspection Real Estate 86

Housing Wire

APRIL 14, 2022

“Our goal is always to make our clients as appealing as possible to a seller to help increase their conversion of getting their offer accepted. trillion in cash-out refis in 2021, up 20% compared to the prior year, the highest volume since 2005. ” Others that leaned purchase in 2021 included depository U.S. .”

Mortgage 519

Mortgage Marketing Retail Lending 519

Houston Properties

JULY 21, 2022

"The Houston Properties Team make real estate transactions a lot less complicated for sellers – they take care of everything AND they get the highest prices and the shortest closings. On the buyer side, she will absolutely tell you what’s wrong with a property and give you all of the reasons not to buy it.

Real Estate Agent 36

Real Estate Agent Real Estate Realtors Agents 36