Housing Wire

FEBRUARY 7, 2024

With mortgage rates briefly topping 8% and home prices breaking records throughout the year, many would-be sellers simply decided not to bother listing their homes, exacerbating already tight inventories. Mortgage rates followed suit, walloping buyers’ purchasing power. New data from the U.S.

Inventory 379

Inventory Sellers Mortgage Marketing 379

Housing Wire

FEBRUARY 13, 2023

The housing market experienced more volatility last week, with housing inventory dropping as mortgage rates moved higher. The start of 2023 has been good, considering mortgage rates have stayed above 6% most of the time. I am keeping an eye on how much growth we can get with mortgage rates over 6%. Since Nov.

Inventory 480

Inventory Housing Market Mortgage Marketing 480

Housing Wire

APRIL 5, 2021

Prices are up sharply as housing inventory continues to plateau , leaving 40% fewer homes on the market compared to last year, according to a report prepared by Black Knight. Year-over-year, new listing volumes were down 16% in January and 21% in February — amounting to a 125,000 deficit in inventory compared to the same time in 2020.

Inventory 493

Inventory Buyers New Listings Mortgage 493

Housing Wire

DECEMBER 2, 2021

It’s official – housing inventory in America is at a crisis level. During the four week period ending November 28, the number of active listings was a 23% decrease compared to the same time period in 2020 and a 42% drop compared to 2019. This marks a 14% year-over-year increase and a 31% increase from 2019.

Inventory 502

Inventory New Listings Contracts Housing Market 502

Housing Wire

MAY 3, 2024

No matter where you are in the Tar Heel State, real estate professionals across North Carolina are frustrated by the lack of housing inventory. The challenge remains lack of inventory — that’s definitely the big one,” said Alison Alston , the broker-owner of Charlotte-based Lodestone Real Estate and Investments. “We being outbound. “We

Inventory 288

Inventory Housing Market Marketing Real Estate 288

Housing Wire

APRIL 6, 2022

Interest in residential mortgage loans fell 6.25% for the week ending April 1 as rates jumped yet again , ever nearer to 5%, according to the Mortgage Bankers Association ‘s latest survey. Additionally, home price appreciation and insufficient for-sale inventory are holding back purchase activity. .

Inventory 395

Inventory Mortgage Retail Contracts 395

Housing Wire

AUGUST 21, 2023

Mortgage rates only kept climbing in the last week. Buyers in this real estate market notice these affordability changes, and so we can see in the data fewer home purchase offers, slightly climbing unsold inventory, and slightly more price reductions for the homes that are on the market. Rising rates make more inventory.

Inventory 368

Inventory Contracts Buyers Sellers 368

Housing Wire

APRIL 25, 2024

Buyers are really struggling.” Although there is no doubt among local real estate professionals that demand is high in the Cincinnati housing market, agents say the area’s low inventory situation is only adding to the challenge facing consumers. We are going to see an increase in inventory. So, they are just hunkering down.”

Buyers 371

Buyers Marketing Inventory Investors 371

Housing Wire

FEBRUARY 20, 2024

Inventory is climbing vs. last year, and home prices have stayed flat for three weeks now. Mortgage rates are back over 7%. And as demand slows, inventory grows. Inventory is up over last year and is about to turn the corner and start climbing for the spring selling season, probably within a couple weeks.

Mortgage 479

Mortgage Inventory Sellers New Listings 479

Housing Wire

FEBRUARY 5, 2024

Mortgage rates are back up over 7% this morning on the back of strong economic growth data. The 10-year bond yield jumped back over 4% and that pushes mortgage rates higher too. Mortgage rates are 40 basis points higher than a month ago, and 100 basis points higher than a year ago. Higher rates equals higher inventory.

Mortgage 399

Mortgage Inventory Sellers New Listings 399

Housing Wire

JANUARY 9, 2023

The housing market saw inventory fall 4% last week from the week before. Does that mean we are heading back to all-time lows in inventory again for 2023? During the last four weeks and especially this past week, we are seeing inventory decline faster than expected. Weekly housing inventory. Weekly inventory change: (Dec.

Inventory 517

Inventory Housing Market Marketing New Listings 517

Housing Wire

MAY 23, 2023

Demand for newly built homes has been strong amidst the historically low inventory of existing homes for sale ,” Lisa Sturtevant, the chief economist at Bright MLS , said in a statement. However, experts note that the existing home inventory trough won’t last forever. In April, the sales pace of new homes rose 4.1%

Inventory 373

Inventory Construction Development Buyers 373

Housing Wire

NOVEMBER 18, 2022

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. As mortgage rates rose more and more, the October to January data was going to show big negative prints.

Inventory 458

Inventory Marketing Housing Market New Listings 458

Housing Wire

MAY 8, 2023

A key source of affordable housing inventory was cut in half over the last three years, resulting from well-intended but heavy-handed efforts to keep delinquent borrowers in homes. That key source of affordable housing inventory: distressed properties sold to third-party buyers or repossessed by lenders at foreclosure auction.

Inventory 367

Inventory Renovations Supply Chain Buyers 367

Housing Wire

JANUARY 16, 2023

Housing inventory increased by 1,339 homes nationwide. Mortgage rates fell along with bond yields, showing that mortgage rates peaked on Oct. The weekly inventory data, which had fallen faster than I had anticipated the last few weeks, has now seen a slight uptick. Purchase application data.

Inventory 530

Inventory Housing Market Marketing Mortgage 530

Housing Wire

MAY 26, 2022

It’s an excellent time to discuss housing inventory. As the 10-year yield broke above 1.94% and mortgage rates rose, we saw the impact on housing data. How can housing inventory be so low today when it skyrocketed back in 2009? Now don’t get me wrong: demand is better in 2020 and 2021 than in any single year from 2008 to 2019.

Inventory 489

Inventory Housing Market Construction Marketing 489

Housing Wire

APRIL 8, 2021

Mortgage credit showed signs of loosening up in March, and with it, more availability for lower credit scores and high LTV products to enter the housing market, the Mortgage Bankers Association said in a report on Thursday. The group’s Mortgage Credit Availability Index rose.6%

Buyers 510

Buyers Mortgage Housing Market Government 510

Housing Wire

SEPTEMBER 13, 2022

The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. Typically we have a natural set of new listings each year; inventory rises in the spring and summer and then falls in the fall and winter.

Mortgage 512

Mortgage Inventory New Listings Sellers 512

Housing Wire

JULY 22, 2021

You can thank a rise in housing inventory for the gains. million in June 2020 as housing inventory has slowly improved in recent months. Total housing inventory at the end of June amounted to 1.25 from May’s inventory and down 18.8% ” Unsold housing inventory sits at a 2.6-month Sales climbed 22.9%

Inventory 488

Inventory Buyers Realtors Construction 488

Housing Wire

AUGUST 18, 2021

The previous economic expansion from 2008 to 2019 had the weakest housing recovery ever following the bust. During this period, household formation will create the mortgage demand needed to push applications to that level, and purchase applications did get to this level right before COVID-19 hit in February of 2020. Already a member?

Inventory 514

Inventory Buyers Business Mortgage 514

Housing Wire

MARCH 5, 2024

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. A little more than two months into the year, however, mortgage rates are the highest they’ve been as the U.S.

Loan Officers 374

Loan Officers Mortgage Buyers Inventory 374

Housing Wire

MAY 22, 2024

So, it was necessary to highlight that for this report because our fresh current inventory data paints a different picture. Looking ahead, price growth will cool down in the second half of 2024 because of increased inventory and more homes taking a price cut before selling. from the previous year ($385,800). All four U.S.

Inventory 445

Inventory New Listings Housing Market Contracts 445

Housing Wire

FEBRUARY 22, 2024

Existing-home sales picked up in January as buyers took advantage of the lowest mortgage rates seen in several months. Listings were modestly higher, and home buyers are taking advantage of lower mortgage rates compared to late last year.” In fact, by the end of January, for-sale housing inventory was at 1.01

Inventory 394

Inventory Sellers Buyers Realtors 394

Housing Wire

MARCH 27, 2024

Those advantages, coupled with cheap land, made the city a favorite for homebuilders like DR Horton and Lennar that brought plenty of new inventory to market. But high mortgage rates and high home prices proved too much for the listings boom in Jacksonville. Competition heats up In 2019, Watson Realty Corp.

Brokerage 377

Brokerage Realty Real Estate Inventory 377

Housing Wire

JANUARY 31, 2023

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 314

Inventory Marketing Business Buyers 314

Housing Wire

MARCH 6, 2024

Housing professionals already know that high mortgage rates are bad for business. But with mortgage rates ascending past 7% according to HousingWire’s Mortgage Rates Center , those hopes have so far been dashed in 2024. Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates.

Mortgage 378

Mortgage Sellers New Listings Buyers 378

Housing Wire

MAY 28, 2021

I don’t see that changing until mortgage rates increase, which will likely happen later this year. The severe lack of inventory in today’s housing market has been a source of stress for home buyers and real estate agents alike. For the week ending May 27, 30-year mortgage rates fell slightly to 2.95%.

Buyers 413

Buyers Real Estate Agent Real Estate Inventory 413

Housing Wire

APRIL 24, 2024

Despite the population growth, Dallas has still had to contend with the realities of high mortgage rates and tight housing inventory — factors that have mortgage lenders , brokerages and other real estate professionals fighting for their share of shrinking pies. 1 brokerage by listing count from 2019 through 2023.

Brokerage 324

Brokerage Realty Marketing Real Estate 324

Housing Wire

NOVEMBER 22, 2023

Builders reported covering closing costs, offering discounted or free features, helping buyers sell their existing home and providing other incentives. Builders have used these incentives in recent months to avoid an inventory glut. They did, just in time for a slew of interest rate hikes to depress buyers’ appetites.

Inventory 397

Inventory Home Value Housing Market Buyers 397

Housing Wire

APRIL 14, 2023

The Federal Reserve ’s 2019 Survey of Consumer Finances found that the median net worth of a homeowner is approximately $255,000 — more than 40 times that of a renter. First-time homebuyers are the driving force of the housing market and typically utilize low down payment mortgages to achieve homeownership. Today, roughly $1.5

Finance 321

Finance Buyers Insurance Housing Market 321

Housing Wire

OCTOBER 11, 2022

Inventory, which has been falling for years, broke to all-time lows in 2020. We didn’t have a seasonal push in inventory in 2020, and things worsened in 2021. To top it all off, we started 2022 at all-time lows, forcing bidding action everywhere until mortgage rates rose. to over 7% in a very short period of time.

Sellers 498

Sellers Inventory Housing Market New Listings 498

Housing Wire

MARCH 23, 2022

We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housing market was last year — and it got a lot worse this year — it’s a blessing that was much needed. million line in the sand has been this: Home prices grow above that 23% level: check Mortgage rates spike higher: check.

Mortgage 437

Mortgage Inventory Housing Market Construction 437

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. VA mortgage loans generally provide veterans and active-duty service members with more favorable terms than other loans on the market.

Mortgage 424

Mortgage Renovations Appraisal Process Finance 424

Housing Wire

DECEMBER 12, 2023

In the mortgage business, November typically represents the start of the slow season. While mortgage rates cooled down significantly from October, it wasn’t enough to overcome seasonal, historic trends and low levels of inventory.

Mortgage 398

Mortgage Inventory Sellers Marketing 398

Housing Wire

MAY 6, 2024

Inventory increases aren’t occurring at a super fast pace, but the number of homes on the market across the country keeps expanding. That can change if mortgage rates fall dramatically, but the current trends show weakening home prices, not strengthening. Inventory is up less than 1% for the week — not a big surge.

Inventory 389

Inventory Contracts Sellers New Listings 389

Housing Wire

NOVEMBER 3, 2021

For the first time since the beginning of the pandemic, purchase mortgages outpaced refinancings in the third quarter of 2021, according to the latest TransUnion report published on Wednesday. The total mortgage balances grew 8% year-over-year to $10.5 million in the third quarter of 2019 to 3.3 trillion in the third quarter.

Mortgage 391

Mortgage Loan Officers Inventory Housing Market 391

Housing Wire

MARCH 8, 2023

It is no secret that the housing market is suffering from an ongoing inventory drought. Existing housing inventory fell by 11,021 homes week over week for the week ending March 6, according to data from Altos Research. Despite the odds, Realtor.com does see paths for the inventory new housing shortage to be resolved.

Housing Market 420

Housing Market Marketing Inventory Construction 420