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Housing Market Tracker: Spring inventory falls

Housing Wire

Just when I thought it was safe to say we were getting more traditional spring housing inventory , we hit a snag last week, as active inventory and new listings declined. However, one thing is for sure, housing is not going to crash due to large-scale panic-selling — a scare tactic of late 2021 that didn’t work then or now.

Inventory 482
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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. One issue that has created a waterfall dive in purchase application data and sales is that new listing data is declining faster than usual. Total inventory levels. NAR: Total Inventory levels 1.22

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Home sales are beginning to stall as buyers hit their limit

Housing Wire

from May to June, the largest drop at this time of year on record since at least 2012, according to a new Redfin study released this week. “In June we entered a new phase of the housing market,” Fairweather said. Finally, new listings fell from a year ago in 15 of the 85 largest metro areas.

Buyers 545
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Buyers are overpaying, but are there signs of a bubble?

Housing Wire

Home prices have skyrocketed in the past year, and data from Redfin backs up what buyers, sellers, and agents have known for months. “This is the strongest seller’s market since at least 2006,” Fairweather said. The post Buyers are overpaying, but are there signs of a bubble? by the end of 2021. .

Buyers 545
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Buyers showing renewed interest in condos

Housing Wire

That’s quite the contrast from back in 2012, when Redfin reported that condos were selling for more than 4% below asking price. “Many buyers who have been priced out of the market for single-family homes have turned to condos,” Fairweather said. year over year, and pending sales were up 38.2% year over year.

Buyers 424
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How housing credit is shaping housing inventory

Housing Wire

Since most sellers are buyers, inventory should be stable if demand is stable. Now, nobody is listing their homes to sell and buy unless they’re 100% pre-qualified. On top of more legitimate buyers, we fixed the credit markets, meaning housing credit looks fantastic. Demographics also play a role here.

Inventory 416
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Why purchase application data is below 2008 levels

Housing Wire

However, the housing market did run into one problem in 2020. Inventory levels broke to all-time lows and thus created massive housing inflation quickly, which broke my model. I knew housing would be OK as long as home prices only grew at 23% over five years — 4.6% This means less demand for housing.