Remove 2018 Remove Buyers Remove Inventory Remove Realtors
article thumbnail

Home-price index gains the most since 2018

Housing Wire

in July from a year ago, the biggest advance since 2018, as rock-bottom mortgage rates made it possible for people to bid higher for properties. advance in the prior month, and it was the largest annual gain since December 2018. The post Home-price index gains the most since 2018 appeared first on HousingWire. million, down 18.6%

Inventory 542
article thumbnail

Rising insurance costs, ample inventory create a unique market in Southwest Florida

Housing Wire

Unlike many other metropolitan areas across the country , the housing market in Southwest Florida is comparably flush with for-sale inventory. “I We are seeing a healthy increase in inventory, which we really needed.” Smith attributes the uptick in inventory to a bump in new listings. From 2022 to 2023 alone, rates rose 15%.

Insurance 363
Insiders

Sign Up for our Newsletter

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

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 459
article thumbnail

Top markets for affordable renovated housing inventory

Housing Wire

from a year ago to $356,700, according to the National Association of Realtors. Renovated Inventory to the Rescue. After renovation , these homes sold for 28% below the average sales price of all existing home sales nationwide, according to an Auction.com analysis of nearly 100,000 homes that sold on its platform between 2018 and 2020.

article thumbnail

Bidding wars – the scourge of buyers – slowed in August

Housing Wire

The bidding wars that put smiles on the faces of sellers and simultaneously drove buyers to rip their hair out weren’t as frequent in August, according to the latest report from brokerage Redfin. But buyers shouldn’t get too excited. But buyers shouldn’t get too excited. In August, 58.8% million and 1.92

Buyers 425
article thumbnail

How Andrew Marquis plans to close more loans in a low-inventory market  

Housing Wire

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. It’s also what keeps Andrew Marquis, regional vice president at CrossCountry Mortgage and Scotsman Guide ’s seventh top LO, up at night, especially as he sees more buyers entering the market.

Inventory 317
article thumbnail

Median income earners can only afford 25% of current listings

Housing Wire

It is no secret that housing inventory is low. households earn $75,000 or less, meaning that in a balanced market, 51% of the homes for sale would be affordable to buyers in this income bracket. needs to add at least two homes that are affordable for middle-income buyers (up to $256,000) for every home that is listed above $680,000.