Housing Wire

JANUARY 20, 2023

On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. And existing home sales crashed in 2022 from a peak of around 6.5 In one of the most historical years in the U.S. During that period, we saw new listing data decline.

Inventory 536

Inventory Housing Market New Listings Marketing 536

Housing Wire

AUGUST 7, 2023

Even as mortgage rates climbed over 7% in the past six weeks, home prices have not declined. As a result, the available inventory of homes for sale is slightly higher each week. Mortgage rates are sitting at their highest levels in many years. When will inventory peak for the year? As demand dips, the prices are not.

Inventory 282

Inventory New Listings Contracts Buyers 282

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 369

Inventory Contracts Buyers Sellers 369

Housing Wire

APRIL 13, 2024

Mortgage rates headed higher last week after the CPI inflation report , but now, with news of a wider war in the Middle East, should we expect even higher rates? 10-year yield and mortgage rates There is nothing good to report on mortgage rates from last week. The week ahead will answer some of those questions early on.

Inventory 422

Inventory Mortgage New Listings Retail 422

Housing Wire

NOVEMBER 17, 2022

For the builders, they have a new problem: they had homes under contract and then mortgage rates jumped in the biggest fashion ever recorded in history. Now, with mortgage rates so high, I believe there is less financial incentive for builders to start on the homes they haven’t begun to build yet. We currently have 9.2

Contracts 536

Contracts Construction Supply Chain Marketing 536

Housing Wire

FEBRUARY 24, 2024

Mortgage rates have risen recently but they could be much worse than they are today. Mortgage rates and the 10-year yield The 10-year yield is the key for housing in 2024. The most important data line for me, along with mortgage rates , is jobless claims data because I value labor data over inflation. That hasn’t happened.

Mortgage 445

Mortgage Inventory New Listings Housing Market 445

Housing Wire

APRIL 30, 2024

Mortgage rates inched higher last week ahead of the Federal Reserve ’s Federal Open Markets Committee on Wednesday and the national jobs report on Friday. Unsold inventory was nearly 32% higher than at this time last year and 90% higher compared to the end of April 2022. “The

Mortgage 351

Mortgage New Listings Inventory Sellers 351

Housing Wire

MARCH 25, 2024

Specifically, when housing inventory is 25% greater than a year ago, the supply/demand balance is obviously very different than it has been. Mortgage rates seem to have finally settled down. I was worried that we might come out of that meeting with a spike in mortgage rates but that didn’t materialize so we got lucky.

New Listings 479

New Listings Inventory Contracts Sellers 479

Housing Wire

APRIL 29, 2024

The bearish take is that there are many more sellers than buyers and inventory is rising. Mortgage rates are at 7.5% In addition to a higher number of new listings, there were also more new contracts started this week than in any week in 2023. Mortgage rates are now topping 7.5%, the highest levels seen this year.

Sellers 462

Sellers Marketing Inventory Contracts 462

Housing Wire

APRIL 22, 2024

After a couple weeks of big jumps for mortgage rates , we’re still seeing relatively surprising strength in the housing market. We’re watching a few key factors to see if homebuyers are backing off in the face of increased mortgage rates. We’re watching inventory , which continues to grow by 3% each week.

Inventory 474

Inventory New Listings Sellers Contracts 474

Housing Wire

MAY 18, 2024

The moves haven’t been significant and our weekly pending contracts data picked up this week. Weekly housing inventory data For the third consecutive week, we haven’t quite reached my weekly target of inventory growth between 11,000 and 17,000 homes. When mortgage rates increase, demand falls and the price-cut percentage grows.

New Listings 432

New Listings Inventory Mortgage Contracts 432

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 392

Inventory Contracts Sellers New Listings 392

Housing Wire

MAY 13, 2024

Inventory continues to build at the national level, something that’s happening most rapidly in the South. Home sales continue to run just a little ahead of last year’s pace, but with mortgage rates in the 7s, there are a ton of potential homebuyers sitting on the sidelines. As the U.S. Let’s look at the details of the U.S.

New Listings 402

New Listings Contracts Inventory Sellers 402

Housing Wire

JANUARY 19, 2023

As the housing market slowed from its frenzied peak in 2022 due to soaring mortgage rates, homebuilders pulled back. An estimated of 1.533 million housing units were started in 2022, down 3.0% Homebuilders closed out 2022 with an annual housing start rate of 1.382 million units in December, down 1.4% year over year.

Inventory 379

Inventory Construction Development Housing Market 379

Housing Wire

JANUARY 2, 2024

Inventory is slowly but steadily increasing over last year, which means slightly more options for buyers this spring. We have more homes going into contract each week now than we did a year ago — supply and demand are climbing together. Inventory ends higher The year finished with 513,000 single-family homes on the market.

Housing Market 524

Housing Market Marketing Inventory Contracts 524

Housing Wire

JANUARY 29, 2024

The headline was an impressive 8% jump over December of 2022. They obviously picked up in December when mortgage rates did a recent dip. However, December’s momentum slowed very quickly in January as mortgage rates jumped back up and as a deep freeze gripped the country. Assuming mortgage rates stay in the 6s.

Contracts 390

Contracts Inventory Housing Market Mortgage 390

Housing Wire

FEBRUARY 8, 2023

During the week that mortgage rates very briefly touched down into the 5% range, mortgage applications increased 7.4%, according to the latest reading from the Mortgage Bankers Association. Still, mortgage demand is down 58% from a year prior. Mortgage rates fell to 5.99% on Thursday, Feb. last week, up from 31.2%.

Mortgage 355

Mortgage Contracts Inventory Marketing 355

Housing Wire

OCTOBER 31, 2023

We may be nearing the bottom in home sales even if mortgage rates don’t decline. At least, that’s what the data seems to suggest as inventory grows and new listings decline at a less aggressive rate than last year. Inventory creeps up There are now 562,000 single-family homes on the housing market. Don’t have time? That’s up 1.5%

New Listings 466

New Listings Inventory Contracts Housing Market 466

Housing Wire

MAY 20, 2024

Price reductions typically peak in November before resetting for the holidays and the fresh inventory in the spring. It’s not as steep as 2022 — the market now is not shifting as quickly from big growth to price declines, like it did briefly about 18 months ago. Inventory There are now 578,000 single-family homes unsold on the market.

Inventory 392

Inventory New Listings Sellers Contracts 392

Housing Wire

NOVEMBER 27, 2023

If you follow real estate data closely, you’ll know that inventory rose late into November. Inventory (finally) peaks for the year Housing inventory was down by 0.7% Inventory hit 566,000 homes on the market, meaning there are 0.5% You also know that new listings are up over last year, too. Short on time? from last week.

New Listings 479

New Listings Contracts Inventory Housing Market 479

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 449

Inventory New Listings Housing Market Contracts 449

Housing Wire

NOVEMBER 6, 2023

Consumers care about home prices and mortgage rates; the industry cares about transaction volume. If we get lucky with mortgage rates, though, we might just be at the bottom of the housing market recession right now. Inventory continues to build There are 567,000 single-family homes on the market. Housing inventory.

Housing Market 475

Housing Market Marketing Inventory Contracts 475

Housing Wire

JULY 28, 2022

annually in the second quarter of 2022, after falling 1.6% economy shrunk, driven by decreases in private inventory investment, mainly general merchandise stores and motor vehicle dealers, and declines in residential fixed investment, especially broker’s commissions. real gross domestic product (GDP) decreased 0.9%

Contracts 286

Contracts Government Housing Market Investing 286

Housing Wire

JANUARY 19, 2023

While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. The report noted that “most bankers reported that residential mortgage demand remained weak.” In other markets, inventory growth accelerated substantially from the previous report.

Inventory 375

Inventory Housing Market Marketing Construction 375

Housing Wire

DECEMBER 4, 2023

New listings and home sales remain low this week while available inventory of unsold homes is finally falling across the country after rising with mortgage rates late into November. It’s looking like we’ll end 2023 with higher housing inventory than this time last year. Inventory is 1.2% housing market in 2024.

Housing Market 483

Housing Market Marketing Inventory New Listings 483

Housing Wire

JANUARY 8, 2024

2022 started insanely strong and weakened rapidly in the second quarter. 2023 started with recovery, but slowed down in Q3 as mortgage rates hit 8%. Inventory is inching up. Each week, inventory is increasing just a bit relative to last year. Over the last 24 months we’ve had incredible volatility in mortgage rates.

Real Estate 487

Real Estate Marketing Inventory New Listings 487

Housing Wire

JANUARY 12, 2022

Mortgage applications climbed 1.4% 7, 2022, according to a survey published by the Mortgage Bankers Association this week. Joel Kan, associate vice president of economic and industry forecasting at the MBA, said in a statement that the increase in mortgage rates is curtailing refinance activity. for the week ending Jan.

Mortgage 432

Mortgage Contracts Inventory 432

Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. of homes that went under contract that month, according to a new report from Redfin. The average interest rate on a 30-year-fixed mortgage was 7.07% in August. That rate is up from 14.3% The median U.S.

Buyers 390

Buyers Mortgage New Listings Real Estate Agent 390

Housing Wire

OCTOBER 26, 2023

Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” Lawrence Yun, NAR chief economist said in a statement. Furthermore, inventory remains tight, which hinders sales but keeps home prices elevated.” between 2022 and 2023, settling at 1.39

Inventory 355

Inventory Contracts Housing Market Realtors 355

Housing Wire

MARCH 6, 2024

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday.

Mortgage 346

Mortgage Real Estate Inventory Construction 346

Housing Wire

AUGUST 9, 2023

Mortgage applications fell for the third consecutive week as the 30-year fixed mortgage rate rose to its highest level since November 2022 at 7.09%. For the week that ended August 4, mortgage applications fell 3.1% from the prior week , according to data from the Mortgage Bankers Association. from 11.6%.

Mortgage 311

Mortgage Contracts Government Inventory 311

Housing Wire

SEPTEMBER 7, 2023

Mortgage rates peaked at 7.5% Rising mortgage rates mean rising inventory as home buyer demand slows quickly. Most years, available inventory of unsold homes on the market peaks in August. Most years, available inventory of unsold homes on the market peaks in August. This year inventory is still climbing.

Contracts 402

Contracts Inventory Buyers New Listings 402

Housing Wire

NOVEMBER 21, 2023

Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. Compared to October 2022, existing home sales slumped 14.6%, down from 4.44 On the bright side, housing inventory rose 1.8% lower than October 2022 when inventory was at 1.22

Inventory 377

Inventory Realtors New Listings Contracts 377

Housing Wire

DECEMBER 11, 2023

The second takeaway is the lesson I’ve been sharing lately: Consumers are more sensitive to changes in mortgage rates than to the absolute levels of rates. Last year mortgage interest rates rose by 450 basis points from 3% to 7.5%. It’s a reflection of very high mortgage rates and how quickly rates rose in September and October.

Inventory 436

Inventory Contracts Sellers Housing Market 436

Housing Wire

MAY 25, 2022

Despite a decline in mortgage rates last week, mortgage application volume was down 1.2% The decline, as measured by the Mortgage Bankers Association ’s (MBA’s) Market Composite Index, continued to be led by a drop in the refinance share of mortgage activity, which has been consistent for more than two months. .

Mortgage 399

Mortgage Contracts Retail Inventory 399

Housing Wire

AUGUST 1, 2023

All year, the strength of homebuyer demand and the tight supply of homes for sale has meant that the market pretty rapidly found a floor on the home-price correction of 2022. If you were looking at the market in the fall of 2022, you would have expected home prices to continue to fall further in 2023. That’s what I was expecting.

Inventory 341

Inventory Contracts Buyers Mortgage 341

Housing Wire

AUGUST 14, 2023

Mortgage rates have been stubbornly above 7% for two months and it sure looks like home buyers are growing weary. It was mid-June when it looked like mortgage rates might continue to ease down but then the opposite happened. This is a seasonal inventory gain. Lower rates lead to lower inventory.

Housing Market 345

Housing Market Inventory Marketing Buyers 345