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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? Here’s a quick rundown of the last week: Active listings rose by 8,546 , and new listing data showed some growth. The red line is where NAR believes a balanced market is, at six months of supply.

Inventory 542
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Lower mortgage rates are stabilizing the housing market

Housing Wire

Now, with five weeks of data in front of us, we can say they have stabilized the market. 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. NAR: Total Inventory levels 1.22

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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. The one period where this didn’t happen was from 2006-2011, when credit forced Americans to sell, to rent or to be homeless. During that period, we saw new listing data decline. The days on market were too low.

Inventory 535
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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. The farther away we stay away from the savagely unhealthy housing market of March 2022, the happier I will be. Yes, I know it’s not a lot of homes, but growth is growth, people!

Mortgage 434
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Have we found the bottom in existing home sales?

Housing Wire

In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! From NAR : “In essence, the residential real estate market was frozen in November, resembling the sales activity seen during the COVID-19 economic lockdowns in 2020,” said NAR Chief Economist Lawrence Yun.

Inventory 502
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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. from December 2022 ($366,500).

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Homebuyers increasingly seek ARMs as mortgage rates soar 

Housing Wire

The 30-year fixed-rate mortgage continues to remain just shy of 7% and is adversely impacting the housing market in the form of declining demand,” Sam Khater, Freddie Mac’s chief economist, said in a statement. Mortgage rates were 7.22% for conforming and 6.15% for jumbos at Mortgage News Daily on Wednesday, a spread of 107 bps.

Mortgage 391