article thumbnail

Is housing inventory growth really slowing down?

Housing Wire

One of the most important housing market stories in recent weeks has been the decline in new listings , which has slowed the growth rate of total inventory. One thing that I have stressed is that higher mortgage rates can create a slowdown in demand and thus allow more inventory to accumulate through a weakness in demand. million to 1.93

Inventory 521
article thumbnail

Days on market grow despite low inventory for existing homes

Housing Wire

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. NAR lists the current inventory at 1.22 million, with a peak in 2007 a tad over 4 million.

Inventory 468
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

NAR membership continues to slide in 2024

Housing Wire

After closing out 2023 with its first annual membership decline since 2012, the National Association of Realtors is still struggling with its membership count. January marked the third consecutive month of membership declines for NAR and the month’s Realtor count marks the lowest level since May 2021. This is down 2.1%

Realtors 413
article thumbnail

Minority homeownership gains ground, but disparities persist: NAR

Housing Wire

million homeowners added between 2012 and 2022. According to a new report from the National Association of Realtors (NAR) titled “A Snapshot of Race and Home Buying in America,” Asian and Hispanic Americans achieved historic heights in homeownership rates in 2022 of 63.3% in 2012 to 65.2% and 51.1%, respectively.

Buyers 413
article thumbnail

This savagely unhealthy housing market needs higher rates

Housing Wire

The National Association of Realtors reported Thursday that existing home sales for April came in at 5.61 This is something that I said would change the tone of housing, and we are seeing that result this year as sales decline and inventory picks up. Inventory is always seasonal. Today inventory levels are at 1.02

article thumbnail

Home prices soared in March amid record demand

Housing Wire

Homes sold in March were on the market for 21 days, per the report, the shortest period between listing and sale since 2012. A National Association of Realtors’ report from 2020’s end found the highest volume of home sales since 2006. Forty-six percent of homes sold within a week after the hitting the market. But with a third of U.S.

Inventory 437
article thumbnail

The housing market is now savagely unhealthy

Housing Wire

The National Association of Realtors reported that existing home sales for February came in as a miss of estimates at 6.02 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