Housing Wire

FEBRUARY 13, 2024

Between July 1, 2022, and July 1, 2023, Alabama’s population grew by 34,000 people, according to estimates published by the U.S. Lower rates are likely to make homeownership accessible to more buyers and it should prompt some potential sellers who are locked in at a rate of 3% or less to list. You can find the city, the country.

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Construction Supply Chain Inventory Agents 353

Housing Wire

MAY 26, 2022

It’s an excellent time to discuss housing inventory. How can housing inventory be so low today when it skyrocketed back in 2009? As you can see below, the inventory keeps falling from 2014 levels, and even with the weakness in demand this year, we are nowhere close to 2013 levels, let alone 2018 levels. What is going on here?

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Inventory Housing Market Construction Marketing 492

Housing Wire

JANUARY 10, 2022

This article is part of our HousingWire 2022 forecast series. After the series wraps, join us on February 8 for the HW+ Virtual 2022 Forecast Event. Sellers saw a market where their homes sold quickly and often above list price as multiple buyers competed to have the winning bid. . for 30-year fixed-rate loans.

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Housing Market Marketing Construction Inventory 545

Housing Wire

APRIL 11, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Wait, what?

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Inventory Housing Market Marketing Modernization 494

Housing Wire

MARCH 29, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Wait, what?

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Inventory Housing Market Marketing Modernization 404

Housing Wire

MARCH 1, 2024

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.” Both buyers and sellers are coming back to the market,” Fischer said. Last year was a tough one for the Indiana real estate market.

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Housing Market Marketing Inventory Construction 395

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. Listings jumped at both the state and city levels in 2021 and 2022. In this environment of high rates and tight inventory, brokerages have had to become sharp elbowed.

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Brokerage Realty Real Estate Inventory 381

Appraisal Buzz

APRIL 11, 2022

The housing market has been a roller coaster ride since COVID-19 began, and it hasn’t shown signs of stopping in 2022. It’s increasingly difficult for home appraisers to predict what will happen next, between seller booms and fluctuating mortgage rates. Mortgage rates dipped to record lows in 2021, then skyrocketed in early 2022.

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Buyers Renovations Supply Chain Housing Market 370

Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). He also expects more sellers to enter the market, as they adapt to prolonged higher rates.

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Real Estate Inventory Sellers Realtors 450

Housing Wire

APRIL 23, 2024

The Fed has recently indicated that it is not likely to reduce interest rates anytime soon due to economic indicators, and Mohtashami revived a 2022 prediction about what it will take to get the Fed to “break” on rates. “In In 2022, I brought up the premise that the Fed will not pivot until the labor market breaks,” he said. “So,

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Inventory Housing Market Sellers Marketing 403

Housing Wire

APRIL 27, 2022

family houses in March 2022 were at a seasonally adjusted annual rate of 763,000, according to estimates released today by the U.S. Even though multifamily construction has boosted housing starts recently, the slowdown in single-family purchases hasn’t been anything too dramatic yet. From Census: Sales of new single?family

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Construction Buyers Housing Market Inventory 325

Housing Wire

APRIL 14, 2023

Since October of 2022, the share of buyers who are purchasing their home without a mortgage has been more than one quarter of the market. These all-cash homebuyers are happily avoiding the higher mortgage interest rates, which touched 7% in the fall of 2022 before trending down to the current rate of 6.28%. Today, the average is 2.7

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Realtors Buyers Inventory Sellers 406

Housing Wire

JULY 10, 2023

The lack of inventory drove home prices up, challenging potential buyers, Black Knight pointed out in its monthly mortgage monitor report. markets seeing prices at or above 2022 peaks. Inventory in Austin continues to run above pre-pandemic levels, putting downward pressure on prices, which have fallen to -13.8% markets in 2023.

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Inventory Housing Market Sellers Marketing 373

Housing Wire

SEPTEMBER 26, 2023

That’s right — for all the hype of massive housing inventory coming from the builders, today we sit here still trying to work back to pre-COVID-19 levels with just 76,000 completed homes ready to be moved. This is why I have called them efficient home sellers. percent)* above the August 2022 estimate of 638,000.

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Inventory Construction Housing Market Marketing 448

Housing Wire

FEBRUARY 16, 2023

Last year we had monthly existing home sales collapse back to 2007 levels, except this time around, NAR has total inventory at 970,000 and not over 4 million. In an odd twist of fate, the delays due to COVID-19 are currently an infrastructure and jobs program for Americans in the construction industry. percent (±15.9 percent (±10.6

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Construction Housing Market Inventory Mortgage 470

Empire Appraisal Group

DECEMBER 14, 2023

1 in 3 Sellers Granting Buyer Concessions By Kerry Smith Two Fla. SEATTLE – Home sellers gave concessions to buyers in 35% of U.S. Orlando came closest to the national numbers in 2023 and 2022, and while Miami saw a decline in concessions, it was on par with national ones. in 2022 Orlando : 34.3% in 2022 Tampa : 43.1%

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Sellers Buyers Agents Contracts 78

Housing Wire

DECEMBER 12, 2023

While sellers of existing homes have struggled with rising rates and softening demand, homebuilders have not only survived, but thrived in this market thanks to the use of mortgage rate buydowns , a tool more widely used by builders since their business is selling homes and clearing inventory. 2022 to Dec.

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Tools Inventory Sellers Buyers 370

Housing Wire

DECEMBER 13, 2023

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year. Home starts forecasts, meanwhile, don’t offer much certainty about the pace of construction next year. percentage points, the fastest pace of hikes in four decades.

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Inventory Construction Mortgage Buyers 457

Housing Wire

APRIL 25, 2023

You know, the one that says we have too much inventory and millions of vacant homes in the U.S.? According to this theory, we have more homes under construction than any time in history. percent)* below the March 2022 estimate of 707,000. 9, 2022 , with purchase application data, and almost everyone ignored it.

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Inventory Housing Market Construction Marketing 460

Housing Wire

FEBRUARY 16, 2024

New construction starts fell to a seasonally adjusted annual rate of 1.331 million units, down 14.8% month over month in January to a rate of 1.015 million units, the highest level since May 2022. Housing inventory remained low in January and new homes still accounted for about 30% of all homes available for sale.

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New Listings Construction Inventory Sellers 329

Housing Wire

JULY 20, 2023

With elevated mortgage rates sidelining both home buyers and sellers, existing home sales fell in June, according to the latest report from the National Association of Realtors (NAR). million in June 2022. The pent-up demand will surely be realized soon, especially if mortgage rates and inventory move favorably.” from June 2022.

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Inventory Buyers Construction Realtors 277

Housing Wire

MAY 23, 2023

percent)* above the April 2022 estimate of 611,000. months and above, the builders will pull back on construction. From Census: For Sale Inventory and Months’ Supply: The seasonally adjusted estimate of new houses for sale at the end of April was 433,000. The Inventory for homes completed is at 70,000 = 1.23 percent (±11.8

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Inventory Housing Market Construction Marketing 516

Housing Wire

JANUARY 19, 2024

from December 2022 to $382,600 – the sixth consecutive month of year-over-year price increases. Remember, with median sales prices and inventory, it’s very seasonal. However, remember, the dive in inventory is normal at this time of the year. from December 2022 ($366,500). Sales faded 6.2% from the previous year.

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Housing Market Inventory Contracts Marketing 405

Housing Wire

MARCH 23, 2022

Second, because of the downtrend in inventory since 2014 and the demand pick-up we will see in the years 2020-2024, we had a risk of home prices accelerating too much. family houses in February 2022 were at a seasonally adjusted annual rate of 772,000, according to estimates released today by the U.S. The only risk to that 6.2

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Mortgage Inventory Housing Market Construction 440

Housing Wire

NOVEMBER 27, 2023

One of the urban myths spouted by people needing more experience tracking housing data was that millions of homes would hit the marketplace in 2023 because the builders had so many homes under construction. percent)* above the October 2022 estimate of 577,000. months , the builders will pause construction. percent (±12.3

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Construction Buyers Mortgage Inventory 421

Housing Wire

JULY 13, 2022

Looking at the housing market in the years 2020-2024, one risk i identified early on was that home prices could accelerate more in this period than we saw in the previous expansion if inventory channels broke to all-time lows. Back then, we had higher sales, higher inventory, and less price growth, but we had a massive credit bubble.

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Inventory Housing Market Mortgage Marketing 539

Housing Wire

AUGUST 23, 2023

Builders are taking advantage of the housing market inventory issues , which is why new home sales are growing yearly, even with higher mortgage rates. I often use the term efficient home sellers to describe the home builders in this low inventory environment. What do I mean by efficient home sellers ? Today, the U.S.

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Mortgage Inventory Construction Sellers 362

Housing Wire

DECEMBER 1, 2022

“Higher interest rates further dented home sales, which declined at a moderate pace overall but fell steeply in some Districts,” the report states, noting that “residential construction slid further at a modest pace” and “home prices grew less rapidly or declined outright amid weak demand.”. million in 2023 from 5.67 trillion from $2.34

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Housing Market Marketing Construction Inventory 313

Housing Wire

JANUARY 5, 2023

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. From 2013 to 2022 I forecasted price growth every year.

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Housing Market Marketing Inventory New Listings 529

Housing Wire

DECEMBER 29, 2022

As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. The housing sector — especially real estate and mortgage — has seen significant layoffs , while the general economy will create more than 4 million jobs in 2022. Housing inventory.

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Housing Market Marketing Inventory Sellers 545

Housing Wire

FEBRUARY 24, 2023

percent) below the January 2022 estimate of 831,000. I wouldn’t read too much into the fact that this new home sales report beat estimates, but I would say that in the future, if mortgage rates get back toward 6%, the homebuilders have creative ways to sell their homes that the existing home seller might not be inclined to do.

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Inventory Construction Housing Market Mortgage 423

Housing Wire

JULY 26, 2023

We only have 72,000 new homes completed for sale in a country of 335 million people, and active inventory is near all-time lows. During the housing bubble crash years, active listings grew to more than 4 million in 2007 because most of the inventory in the U.S. percent) above the June 2022 estimate of 563,000. months to 7.4

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Inventory Construction Sellers Marketing 306

Housing Wire

JUNE 21, 2023

May’s housing starts rate was actually the highest since April 2022, which was then the highest since 2006. above the May 2022 rate of 1.54 below the May 2022 rate of 1.7 Currently there are 695,000 single-family units under construction, which is actually 136,000 units below the peak in May 2022.

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Business Construction Law Inventory 309

Housing Wire

JUNE 2, 2023

since March 2022. The construction sector also saw job gains in May, adding 25,000 positions, thanks to a large uptick in heavy and civil engineering construction, which added 10,700 jobs. Residential building construction added 2,400 jobs during the month. The unemployment rate has remained between 3.4%

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Construction Real Estate Housing Market Transportation 341

Housing Wire

JANUARY 27, 2023

This makes them much more efficient sellers than existing homeowners, who need to find another house once they sell. 291,000 homes are still under construction: 5.7 An estimated 644,000 new homes were sold in 2022. We have had some conflicting data points recently. On the one hand, cancelation rates have been rising. This is 16.4

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Mortgage Construction Buyers Inventory 532

Housing Wire

SEPTEMBER 12, 2023

So, the author tried to use new construction prices from back in April to describe the whole U.S. Supply of homes for sale is very low, and most of the year we’ve had more buyers than sellers. Inventory is very low and just inching up now week over week late in the summer. housing market now. This week continues that trend.

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Contracts Inventory Housing Market Buyers 363

Housing Wire

JUNE 20, 2023

As I have said many times over the last few months, the builders are efficient sellers and they’re taking advantage of an existing home sales market that is suffering from low inventory and higher mortgage rates. percent)* above the May 2022 rate of 1,543,000. percent)* above the May 2022 rate of 1,446,000. This is 21.7

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Housing Market Construction Sellers Marketing 427