Housing Wire

MAY 4, 2023

The number of new listings coming on the market this spring is lower than it has been in more than a decade. Sales and new pending contracts are below pre-pandemic levels. What can we expect in 2023? At the same time, there are some key trends I think will characterize the housing market in 2023. Selective sellers.

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Housing Market Marketing Inventory Buyers 420

Housing Wire

MARCH 23, 2024

However, whenever the 10-year yield falls with duration, as we saw toward the end of 2022 and into 2023, it sends mortgage rates lower, and we can grow sales from these record-low levels. Purchase application data Purchase application data really moves on mortgage rates — something we saw in late 2022 and into 2023.

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Mortgage Inventory New Listings Housing Market 515

Housing Wire

APRIL 20, 2024

Of course, what is different this year versus last year is that new listing data is growing yearly instead of trending at the lowest levels recorded in history. However, 2023 tested my model as the inventory growth rate on a week-to-week basis was slow, even when rates headed toward 8%. 2022: 18.7%

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Inventory New Listings Mortgage Finance 503

Housing Wire

DECEMBER 28, 2022

After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. Heading into 2023, it seems well within reason, given current trends, that a peak-to-trough decline in home prices of 10% is possible. . There will be two key differences between 2023 and 2010. Home Prices will fall, but don’t expect 2010.

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Housing Market Marketing Inventory Mortgage 491

Housing Wire

MARCH 30, 2024

The best housing story in 2024 is that inventory is growing — both active inventory and new listings. Still, new listing data is a positive story. Since November 2023, after making holiday adjustments, we have had 10 positive and six negative purchase application prints and one flat print. 2022: 17.2%

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Inventory New Listings Mortgage Housing Market 471

Housing Wire

FEBRUARY 17, 2024

Will mortgage rates break toward 8% again, making another 2024 data line that looks like a carbon copy of 2023? We have bounced from the 3.80% area twice, once in late 2023 and early 2024. We should see the seasonal bottom soon and then the traditional increase in active inventory to match the growth in new listings data.

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Mortgage Inventory New Listings Housing Market 534

Housing Wire

APRIL 6, 2024

Weekly housing inventory data — both active inventory and new listings — are prone to one-week moves that deviate from a trend, especially if people are going Easter egg hunting. So, the fact that active inventory and new listings data fell last week isn’t a big deal. However, for now, this is a plus for the U.S.

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Inventory New Listings Mortgage Housing Market 470

Housing Wire

MARCH 2, 2024

Let’s take a look at the inventory data this year to test this premise, since for many months it has been a working theory of mine that new listings data behavior last year marked a bottom and even going into 2024 we should see more sellers. This is a carbon copy of what happened in 2023 when rates went higher.

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Inventory Mortgage New Listings Housing Market 534

Housing Wire

MARCH 16, 2024

Since November 2023, we have had 10 positive and five negative purchase application prints after making holiday adjustments. Weekly housing inventory data The one positive story for me in housing this year is that inventory is growing year over year for both active inventory and new listing data.

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Housing Market Inventory New Listings Marketing 492

Housing Wire

FEBRUARY 10, 2024

So far in 2024, fewer homes are taking price cuts than in 2023, and this trend is on the verge of breaking below the 2023 lows in price cuts percentages. While weekly inventory is still falling, we have year-over-year growth in total active listing and new listings data.

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Inventory New Listings Retail Mortgage 515

Housing Wire

SEPTEMBER 16, 2023

The last four weeks of new listings data have been the most volatile since mortgage rates breached 6% in 2022. One week, we had the biggest decline in new listings data all year, which might indicate Americans are giving up on listing their homes. What’s going on with housing inventory ? 18: 60,295 Aug.

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Inventory New Listings Housing Market Mortgage 490

Housing Wire

JANUARY 6, 2024

Will the number of homes that take a price cut this year drop below 2023 levels? However, as home sales stabilized in 2023, so did this data line. While the percentage of price cuts is still much higher than 2021 levels, this explains why prices were stable in the second half of 2023 versus the second half of 2022.

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Inventory New Listings Housing Market Mortgage 542

Housing Wire

DECEMBER 9, 2023

This happened even with higher home prices and higher mortgage rates in 2023. Naturally, some people thought home prices would crash in 2023 as many market players said prices always follow volume. What happened between June 2022 to June 2023 can be confusing, so if you need more clarity I suggest listening to this podcast.

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Mortgage Inventory New Listings Sellers 533

Housing Wire

MARCH 9, 2024

Since November 2023, we have had nine positive and five negative purchase application prints after making holiday adjustments. This is a carbon copy of what happened in 2023 when rates went higher. With rates going lower, we saw 11% week-to-week growth. Year to date, we have had three positive prints versus five negative prints.

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Mortgage Inventory New Listings Housing Market 488

Housing Wire

NOVEMBER 25, 2023

18): Inventory fell from 569,571 to 564,571 The inventory bottom for 2022 was 240,194 The inventory peak for 2023 so far is 569,898 For context, active listings for this week in 2015 were 1,104,514 New listings data fell weekly but showed positive year-over-year growth. Weekly inventory change (Nov.

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Inventory Mortgage New Listings Buyers 536

Housing Wire

DECEMBER 2, 2023

For my 2023 forecast , my range for the 10-year yield was 3.21%-4.25% , which meant mortgage rates between 5.75%-7.25%. One concern with higher mortgage rates was that more sellers — who are traditional buyers — would not list their homes. Mortgage rates and the 10-year yield We are back! Weekly inventory change (Nov.

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Mortgage Inventory New Listings Sellers 543

Housing Wire

JANUARY 28, 2024

20-27): Inventory fell from 472,852 to 466,391 The inventory bottom for 2022 was 240,194 The inventory peak for 2023 is 569,898 For context, active listings for this week in 2015 were 938,453 Last week, we saw active inventory fall slightly week to week. 19-26) : Inventory fell from 506,414 to 503,233 Same week last year (Jan.

Inventory 520

Inventory New Listings Mortgage Marketing 520

Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. However, at the current trend, we will break below the lows in the price cut percentage data that we saw in 2023 in the spring of this year. The bottom has been in March and April in the past few years.

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Inventory Mortgage New Listings Sellers 541

Housing Wire

NOVEMBER 11, 2023

Total housing inventory growth has been slow in 2023, but with rising mortgage rates over the last few months, inventory has grown a bit faster than average. The question now is: Have we hit the seasonal peak in inventory for 2023? That is the critical period for new listing data to grow; remember, most sellers are buyers.

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Inventory New Listings Mortgage Retail 488

Housing Wire

FEBRUARY 4, 2024

New listings were trending at the lowest levels ever in 2023, but that should not be the case in 2024. New listings were trending at the lowest levels ever in 2023, but that should not be the case in 2024. Here is a look at last week: Weekly inventory change (Jan. But at least it’s positive!

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Inventory Mortgage New Listings Housing Market 517

Housing Wire

NOVEMBER 4, 2023

I am running out of time as seasonality is kicking in, which means we are getting closer to the seasonal inventory decline for 2023. It looks like I will bat a whopping 0 in 2023 for my higher rates inventory growth level forecast. Last year, the seasonal peak for housing inventory was Oct. 28, according to Altos Research.

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Mortgage Inventory New Listings Real Estate 497

Housing Wire

MARCH 6, 2024

This is clear in the chart below, which shows the year-over-year percent change in the four-week average of new listings. This data, courtesy of Altos, shows that new listings retreat when rates rise and accelerate when rates fall: High rates are bad, too, for the sellers who decided to list their homes.

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Mortgage Sellers New Listings Buyers 436

Housing Wire

SEPTEMBER 3, 2023

We had a crazy jobs week last week, with tons of data that the Federal Reserve was happy to see, but did those labor reports mean we’ve hit peak mortgage rates for 2023? Mortgage rates did fall, purchase application data rose and new listings data came back to trend. New listing data over the past several weeks: Aug.

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Mortgage Inventory New Listings Marketing 458

Housing Wire

MAY 21, 2023

New listings data fell, however, active inventory grew. And purchase apps had a weekly negative print, continuing the 2023 theme of higher rates impacting the data. Here’s a quick rundown of the last week: Total active listings grew by 3,809 weekly, but new listings are still trending at all-time lows.

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Housing Market Marketing Inventory New Listings 500

Housing Wire

APRIL 23, 2023

Still, we have some promising signs that we might have finally hit the inventory bottom for 2023. Here’s a quick rundown of the last week: Active listings rose by 8,546 , and new listing data showed some growth. Again, I am a bit mindful here due to Easter. However, I will take what I can now.

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Inventory Housing Market Marketing New Listings 545

Housing Wire

APRIL 16, 2023

The seasonal housing inventory bottom evaded us again last week as active listings fell and new listing inventory decreased. Purchase application data rose again, with more positive than negative data in 2023. Here are some weekly numbers to see the difference in new listings from past years over the same week.

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Inventory Housing Market Marketing New Listings 538

Housing Wire

FEBRUARY 26, 2024

The average cost of a policy increased 40% in 2023 alone, according to a report by Redfin. In Jacksonville, the median condo price declined roughly 7% year over year in January, sales declined 27% and new listings increased 32%. And homeowners insurance costs are three times higher in Florida than the national average.

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HOA Law Insurance New Listings 485

Housing Wire

DECEMBER 16, 2023

Because we saw stability in 2023, I was looking for some flat to positive year-over-year growth in the data during the second half of the year. This is what we see, and it’s much needed; we need more new listings and not fewer. Weekly inventory change : (Dec. This was something I talked about on CNBC months ago.

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Inventory New Listings Mortgage Law 535

Housing Wire

APRIL 5, 2024

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. The increase in new listings this spring, due both to new construction and to more homeowners choosing to sell, will give buyers more options and help to ease price growth.

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Housing Market Marketing Training New Listings 443

Housing Wire

JULY 9, 2023

The weekly active listing data had a rare week-to-week decline. The other big story in housing has been that new listing data has been trending at the lowest levels recorded in history for 12 months. As we can see below, there is a big difference between 2023 data for this week versus 2022 data.

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Inventory Housing Market Marketing New Listings 485

Housing Wire

OCTOBER 28, 2023

31, 2022, that mortgage rates would hit 8% in 2023, you would reasonably assume housing inventory would sky rocket higher, home prices would fall noticeably, and the number of price cuts would be higher year over year. While new listings are still trending at the lowest levels ever recorded in history, we are forming a bottom in this data.

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Inventory Mortgage New Listings Marketing 508

Housing Wire

MAY 7, 2023

Just when I thought it was safe to say we were getting more traditional spring housing inventory , we hit a snag last week, as active inventory and new listings declined. New listing data was trending at all-time lows in 2021 abd 2022 and now it’s creating a new all-time low trend in 2023.

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Inventory Housing Market Marketing New Listings 491

Housing Wire

FEBRUARY 14, 2024

Total inventory was up more than 3% from January 2023. Meanwhile, the flow of new listings to the market last month was up 43% from December and up 5.8% Phoenix also appeared as an abundantly supplied market in January, according to Zillow. year over year.

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New Listings Sellers Housing Market Buyers 416

Housing Wire

JULY 30, 2023

Last week inventory growth dropped and new listing data declined again. Two weeks ago we had some good movement with active listings growing almost 9,000 , but last week that fell to just 4,988, and new listings data also fell. Instead, new listings data had a small decline last week.

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Housing Market Marketing Inventory New Listings 369

Housing Wire

MARCH 6, 2023

Weekly inventory fell much more than the previous two weeks, down 11,021; new listing growth had its lowest weekly calendar print for this previous week. The 10-year yield attempted to reach my peak forecast level for 2023 but failed to stay above 4%; we had over 7% mortgage rates for a day. million in 2023.

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Inventory Housing Market Marketing New Listings 492

Housing Wire

APRIL 30, 2023

Weekly housing inventory Since new listing data was trending at all-time lows in 2023, some feared we wouldn’t see the typical spring inventory increase. After the last few weeks , we can put that fear aside: we are finally getting the seasonal increase in active listing.

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Inventory Housing Market Marketing New Listings 520

Housing Wire

NOVEMBER 18, 2023

More importantly, the CPI data came in light, and it looks like that might have been the final nail in the coffin for the Federal Reserve in terms of raising rates as the growth rate of inflation has cooled down enough that the market is now pricing in a few rate cuts in 2023. Weekly inventory change (Nov.10-Nov. Weekly inventory change (Nov.10-Nov.

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Mortgage Inventory New Listings Housing Market 488