Remove 2020 Remove Inventory Remove New Listings Remove Realtors
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. However, I knew the years 2020-2024 would see better demand from the bump in demographics.

Inventory 459
article thumbnail

The mortgage rate lock-in didn’t start in 2022

Housing Wire

After an initial rush to get to market in Q2 2022, new listings volume fell precipitously. In July 2022, new listings volume per week dropped from 90,000 at the end of June to approximately 74,000 just after the July 4th holiday. We see the same pattern in the new listings rate each week.

Mortgage 366
Insiders

Sign Up for our Newsletter

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

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.

Insurance 363
article thumbnail

Buyers are struggling to compete in the white-hot Cincinnati market

Housing Wire

There is no way you can stay on top of things unless you hire someone to watch new listings pop up every 10 minutes. While DeRoussel’s experience sounds exactly like many of the stories that emerged from the pandemic-fueled homebuying frenzy of 2020 and 2021, this happened just a few weeks ago in early April 2024.

Buyers 374
article thumbnail

“It seems impossible:” Bergen County, NJ’s housing market is vexing agents and buyers

Housing Wire

Real estate agents in the leafy suburbs of Bergen County, New Jersey say the current housing market — with historically low inventory and record-high prices — is actually more challenging than the multiple offer chaos they sweated through during the pandemic. “At Even if we get more listings, it is not going to be enough for people.

article thumbnail

Pending home sales surged in December: NAR

Housing Wire

month over month in December, according to the newest data from the National Association of Realtors (NAR). It was the largest monthly jump in pending home sales since 2020. Looking ahead Confronted with limited existing home inventory, many buyers have pivoted to newly constructed homes. But new listings activity grew by 9.1%

Contracts 445
article thumbnail

Indiana’s housing market is primed to bounce back in 2024

Housing Wire

Sales from 2022 to 2023 were down 14%,” Mark Fischer, the CEO of the Indiana Realtors Association , said. “We We were up year over year in inventory , but we were at a 25 year low on new listings.” Like elsewhere in the country, Indiana has struggled with housing inventory. According to Altos Research, as of Feb.