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

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. Consumers are more sensitive to changes in mortgage rates than to absolute levels.

New Listings 466

New Listings Inventory Contracts Housing Market 466

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 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. With the most recent mortgage rate jump, inventory growth has also accelerated.

Inventory 474

Inventory New Listings Sellers Contracts 474

Housing Wire

APRIL 1, 2024

As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. New listing volume last week was 18% more than a year ago. Pending sales Last week saw 69,000 new contracts for single-family home purchases across the country. Why the difference?

Inventory 457

Inventory New Listings Contracts Sellers 457

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%

Buyers 390

Buyers Mortgage New Listings Real Estate Agent 390

Housing Wire

NOVEMBER 27, 2023

You also know that new listings are up over last year, too. New listings volume is up, too. There were 58,000 new listings this week, with 10,000 of those homes already under contract as immediate sales. If you follow real estate data closely, you’ll know that inventory rose late into November.

New Listings 479

New Listings Contracts Inventory Housing Market 479

Housing Wire

APRIL 29, 2024

The weekly volume of new listings is now higher than at anytime last year. 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

MAY 20, 2024

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. But we can see that there is an upper limit to affordability for homebuyers and sellers should absolutely be aware of this before they list their homes.

Inventory 392

Inventory New Listings Sellers Contracts 392

Housing Wire

MARCH 18, 2024

At the time, I observed that even if mortgage rates stayed flat, the momentum seemed to be in the cards for broad, slow growth in the market. However, mortgage rates didn’t stay flat. 1 and as of today, March 18, mortgage rates are 30-40 basis points higher than Jan. This week in 2022 was the last of the 3% mortgages.

Inventory 384

Inventory New Listings Sellers Contracts 384

Housing Wire

MAY 22, 2024

So, unless mortgage rates drop fast and demand picks up, inventory should have an average year of growth before the seasonal decline. We have had two times recently when mortgage rates dropped more than 1%. I love that new listings data is growing yearly, but it’s been too light for me.

Inventory 449

Inventory New Listings Housing Market Contracts 449

Housing Wire

MAY 6, 2024

As mortgage rates stay elevated and the number of unsold homes on the market grows — especially in the South — the leading indicators for future home sales prices continue to be softer than the current headlines suggest. That can change if mortgage rates fall dramatically, but the current trends show weakening home prices, not strengthening.

Inventory 392

Inventory Contracts Sellers New Listings 392

Housing Wire

JANUARY 8, 2024

These are very clear trends as we start the new year. 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%. I’ve pointed out that consumers are more sensitive to changes in mortgage rates than to the absolute levels.

Real Estate 487

Real Estate Marketing Inventory New Listings 487

Housing Wire

SEPTEMBER 26, 2023

This is a demand-driven slowdown, because new listings supply is still running 9% to 10% fewer homes for sale each week than this time last year. We’re seeing fewer new sellers each week, but inventory is building as homebuyers wait to see if mortgage rates will come down to make purchases more affordable.

Inventory 481

Inventory Contracts New Listings Mortgage 481

Housing Wire

MARCH 26, 2023

These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. Here’s a quick rundown of the last week: The 10-year yield had a Lord of Rings battle at a critical technical level, pushing mortgage rates lower at the end of the week with no real break in the bond market.

Inventory 434

Inventory Housing Market Marketing Mortgage 434

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. Home prices will also be up and we have more homes under contract than we did at the end of 2022. housing market in 2024.

Housing Market 483

Housing Market Marketing Inventory New Listings 483

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. Remember the Altos rule: If mortgage rates go up, inventory will build in 2024. While home prices in the U.S.

Housing Market 475

Housing Market Marketing Inventory Contracts 475

Housing Wire

APRIL 26, 2023

Higher mortgage rates did not scare away potential homeowners last week. Plenty of buyers, but not enough homes for sale,” California-based mortgage loan officer Dan Stone, who works with hundreds of mortgage lenders, told HousingWire. The latest Mortgage Bankers Association (MBA) report confirms Stone’s perceptions.

Mortgage 383

Mortgage Loan Officers New Listings Government 383

Housing Wire

OCTOBER 16, 2023

It’s quite clear that homebuyers have hit the brakes waiting to see if mortgage rates recede from these multi-decade highs. There were only 57,000 new listings plus another 10,000 immediate sales. There are only 326,000 single-family homes in the contract pending stage. Note the inventory climb is not from sellers.

Inventory 435

Inventory Contracts Sellers New Listings 435

Housing Wire

AUGUST 7, 2023

Even as mortgage rates climbed over 7% in the past six weeks, home prices have not declined. Mortgage rates are sitting at their highest levels in many years. The surprisingly strong economy has the markets assuming the Fed will keep rates higher for longer, therefore, mortgage rates follow suit. in just a few weeks.

Inventory 282

Inventory New Listings Contracts Buyers 282

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

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 lower than October 2022 when inventory was at 1.22 months in October 2022. months in September and 3.3

Inventory 377

Inventory Realtors New Listings Contracts 377

Housing Wire

SEPTEMBER 7, 2023

Mortgage rates peaked at 7.5% Rising mortgage rates mean rising inventory as home buyer demand slows quickly. Last year at this time, mortgage rates began to spike dramatically from under 6% to 7.5% Last year, the change in mortgage rates was rapid enough to drive home sales prices down. in a few weeks. That’s this year.

Contracts 402

Contracts Inventory Buyers New Listings 402

Housing Wire

JANUARY 20, 2023

And existing home sales crashed in 2022 from a peak of around 6.5 The lack of sellers is also a demand problem and what we saw after June of 2022 is that sellers called it quits earlier and faster in the year than usual, resulting in total existing home sales totaling 5,030,000 to end 2022. The days on market were too low.

Inventory 536

Inventory Housing Market New Listings Marketing 536

Housing Wire

JULY 24, 2023

Pending Sales There are now 378,000 single-family homes in contract. There were 68,000 new contracts for single-family homes this week. In the chart below, the light portion of each bar represents the new contracts each week. But, there were another 15,000 condos and townhomes that went into contract this week.

Inventory 285

Inventory Contracts New Listings Buyers 285

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

JANUARY 19, 2024

We don’t have any data that shows sales are crashing from this low level: this is key when looking at the future because it does give us a place to grow sales as long as mortgage rates fall. from December 2022 to $382,600 – the sixth consecutive month of year-over-year price increases. from December 2022 ($366,500).

Housing Market 405

Housing Market Inventory Contracts Marketing 405

Housing Wire

SEPTEMBER 12, 2023

There are no signs of any surge in listings, and as a result we’ve seen a floor on home prices. New contracts dipped as affordability is out of reach for so many. Last year inventory was about to start climbing again with that autumn spike in mortgage rates. The light portion of the bar are the new contracts that week.

Contracts 363

Contracts Inventory Housing Market Buyers 363

Housing Wire

SEPTEMBER 19, 2023

It’s not unusual for a little jump in new listings in September. Obviously, mortgage rates have been stubbornly over 7% for a couple of months. That’s a change in expectation of mortgage rates. Buyers early in 2023 had slightly lower rates than now and were optimistic that mortgage rates would go lower still.

Housing Market 405

Housing Market Marketing Inventory New Listings 405

Housing Wire

JULY 17, 2023

In the fall of 2022 after mortgage rates jumped to 7.5%, I thought maybe we’d missed the soft landing call. By October 2022, it looked like 2023 would have rising inventory and falling home prices. The peak of inventory for 2023 so far was the week of the New Year — that is insane. That’s essentially unchanged from 2022.

Real Estate 283

Real Estate Marketing Inventory Contracts 283

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. Assuming inventory peaks in two weeks also assumes mortgage rates don’t spike from here.

Housing Market 345

Housing Market Inventory Marketing Buyers 345

Housing Wire

AUGUST 21, 2023

Mortgage rates only kept climbing in the last week. Mortgage rates are at their highest level in 20 years because the economy just keeps reporting strong data. And every uptick in mortgage rates leads to a downtick in the number of home buyers in the market. There are 365,000 single-family homes in contract now.

Inventory 369

Inventory Contracts Buyers Sellers 369

Housing Wire

SEPTEMBER 22, 2022

Even though this was a beat of estimates, the sales decline trend due to higher mortgage rates and home prices continues. The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . million in January of 2022.

Inventory 437

Inventory Housing Market New Listings Mortgage 437

Will Springer Realtor

MAY 9, 2023

Falling new inventory is constraining transaction volumes while also supporting higher home prices. It’s a dynamic not often seen in our area and it – along with stubbornly high mortgage interest rates – has generated a rollercoaster ride of data that would make Six Flags jealous. Where are all the sellers?

New Listings 59

New Listings Inventory Buyers Sellers 59

Housing Wire

FEBRUARY 16, 2023

The truth is that if mortgage rates fell below 5.875% and kept going lower, everyone’s housing predictions would need to be revised this year because the builders can sell their homes with lower mortgage rates. percent below the January 2022 rate of 1,841,000. percent) below the January 2022 rate of 1,666,000.

Construction 470

Construction Housing Market Inventory Mortgage 470

Hank Miller Team

APRIL 6, 2022

It's time to answer the nagging question…did housing inventory in Atlanta increase during the first quarter of 2022? Traditionally, the months of May and June see the most new listings as the school cycle hits – graduating families sell and rising families buy. We see the slight bounce and then the glide down.

Inventory 94

Inventory Contracts Buyers Sellers 94

Lamacchia Realty

JULY 22, 2022

This Lamacchia Mid-Year Housing Report presents overall home sale statistics as of the first six months of 2022 compared to the same period last year, January 1 st to June 30 th , 2021. Prices increased in all the categories in the first half of 2022 over the same time period in 2021. Homes Listed for Sale. for singles, -14.7%

Sellers 73

Sellers Buyers Inventory Contracts 73