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Housing Market Tracker: Inventory finally rises

Housing Wire

Can we now say that the housing market ‘s spring selling season is finally underway? Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. months shows how far we are from 2008 housing economics.

Inventory 543
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Lower mortgage rates are stabilizing the housing market

Housing Wire

million, the equilibrium balance between a buyer and seller marketplace that has been here for four decades. Only from 2006-2011 did we see this break due to forced sellers who couldn’t buy homes. One issue that has created a waterfall dive in purchase application data and sales is that new listing data is declining faster than usual.

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Housing inventory falls under 1M again as sales collapse

Housing Wire

housing market , we just experienced an event that most people never thought could happen. Total housing costs for American homeowners versus their wages are meager, and most will buy a home right away when they sell. Looking at housing this way, the last four decades make sense.

Inventory 536
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Have we found the bottom in existing home sales?

Housing Wire

.” 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. This is the biggest story in housing. . I have never believed in this concept because of how the housing market credit channels work. economic history. .

Inventory 505
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Existing home sales are working from a historic low bar

Housing Wire

Something notable about this report: Total active listings as the NAR tracks them almost broke under 1 million again. Our housing market tracker counts weekly active single-family listings, those homes that aren’t in the contract, and the raw available number of homes for sale.

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Will mortgage rates keep heading lower? 

Housing Wire

Moving the needle doesn’t take much since we all know we have buyers ready to go and home sales are at record lows. Weekly housing inventory data The positive story for housing in 2024 has been the inventory growth we have seen year-over-year. Yes, I know it’s not a lot of homes, but growth is growth, people!

Mortgage 439
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Agents in Illinois grapple with the state’s housing inventory shortage

Housing Wire

Despite the population decline, Illinois’ housing market remains relatively strong. The state has an Altos Research Market Action Index score of 44, which is above the national score of 39. Altos considers anything above 30 to be indicative of a seller’s market. It’s depressing,” Laricy said of the downtown market.

Inventory 371