Housing Wire

NOVEMBER 30, 2023

Homebuyer traffic will increase in 2024, fueled by lower mortgage rates and more existing-home inventory. At the same time, both buyers and sellers will have to reset expectations next year for persistently higher mortgage rates and more negotiations during the transaction.” Existing-home sales will end 2024 at 4.6

Buyers 431

Buyers Housing Market Sellers Inventory 431

Housing Wire

APRIL 1, 2024

As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. Total available inventory is gradually climbing about 1% per week — last year it was still declining in April. As we roll into the second quarter, we should have accelerating inventory growth each week.

Inventory 457

Inventory New Listings Contracts Sellers 457

Housing Wire

NOVEMBER 25, 2023

Lower mortgage rates tend to take housing supply off the market and demand has been picking up lately as rates have fallen. However, the recent drop in housing inventory has more to do with seasonality factors than lower mortgage rates. Mortgage rates and the 10-year yield The 10-year yield ended the week roughly flat.

Inventory 521

Inventory Mortgage New Listings Buyers 521

Housing Wire

JANUARY 29, 2024

Most economists forecast mortgage rates to decline in 2024, stoking optimism about the housing market. According to the newest Bloomberg Markets Live Pulse Survey (MLIV Pulse), the rate on the 30-year fixed mortgage will fall to 5.5% Mortgage rates should continue to trend lower this year.” by the end of this year.

Mortgage 414

Mortgage Inventory Investors New Listings 414

Housing Wire

JANUARY 13, 2024

Last week, housing inventory grew and the number of price cuts fell, which is expected at this time of the year. I hope the next thing we see is housing inventory grow at the level it typically does in January or February instead of being delayed until March or April. So let’s hope for more home sellers in 2024.

Inventory 519

Inventory New Listings Retail Mortgage 519

Housing Wire

APRIL 15, 2024

We saw a big jump in mortgage rates last week. The 30-year fixed rate mortgage, according to the HousingWire Mortgage Rates Center , is now over 7.2% — that’s 50 basis points above where we were at the start of the year. At that time, most of the voices in the media assumed that mortgage rates had peaked and would fall by now.

Inventory 373

Inventory Mortgage New Listings Sellers 373

Housing Wire

MARCH 4, 2024

At HousingWire , we have a debate about whether home sellers will freeze up again this year as mortgage rates stay stubbornly high. But now it’s March, and mortgage rates are the highest they’ve been all year, the economy continues to report strong numbers so the Fed is growing less likely to cut rates soon. So that rule holds.

Inventory 466

Inventory Sellers Buyers Real Estate 466

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The Federal Reserve recently signaled plans to slash interest rates three times in 2024, shifting toward the next phase in its monetary policymaking. “It There’s still going to be a lag.

Mortgage 438

Mortgage Loan Officers Inventory Business 438

Housing Wire

NOVEMBER 22, 2023

Going more in-depth than a Fed meeting, our virtual Housing Market Update event provides you with the strategy-building insights needed to operate in 2024. The number of home sales in 2023 will likely be at its lowest level since 2010, and while sales activity will pick up in 2024, transactions will still be below average.

Housing Market 476

Housing Market Marketing Inventory Sellers 476

Housing Wire

APRIL 8, 2024

With the Easter holiday last week, data for housing inventory , new listings and the pace of new contracts started all took a breather from their growth pace. Here’s how 2024 is shaping up: There are now more listings, more active inventory and more sales than a year ago. Inventory will climb again with this week’s data.

Inventory 441

Inventory Contracts New Listings Sellers 441

Housing Wire

MARCH 18, 2024

As we started 2024, the signals in the U.S. real estate market were for inventory growth, sales growth and home-price growth across the U.S. 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.

Inventory 384

Inventory New Listings Sellers Contracts 384

Housing Wire

MARCH 1, 2024

We were up year over year in inventory , but we were at a 25 year low on new listings.” But as the calendar flipped to 2024 and as we inch closer to the spring selling season, Fischer said things have started to pick up. in mid-January 2024. as of February 29, 2024. According to Altos Research, as of Feb.

Housing Market 395

Housing Market Marketing Inventory Construction 395

Housing Wire

JANUARY 4, 2024

In the first week of 2024, mortgage rates continued to stick around the mid 6% mark. The 30-year fixed-rate mortgage averaged 6.62% as of Jan. 28 , according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday. The 15-year fixed-rate mortgage averaged 5.89% this week, down from 5.93% the prior week.

Mortgage 392

Mortgage Inventory Sellers Marketing 392

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. They may find that relief for mortgage rates next year, according to forecasts from various industry experts compiled by HousingWire.

Inventory 457

Inventory Construction Mortgage Buyers 457

Housing Wire

MAY 11, 2024

Mortgage rates and the bond market have fallen a bit recently and the spreads between the 10-year yield and 30-year mortgage rate have improved over last year’s levels. In the past two years, demand has always picked up whenever mortgage rates have moved lower with some duration. That’s a 0.50% difference in rates.

Mortgage 394

Mortgage Inventory New Listings Housing Market 394

Housing Wire

JANUARY 29, 2024

Homebuyers are getting some relief in 2024 as mortgage rates recede from their 20-year high point of last October. mortgage rate, the prospective buyer with a $3,000 budget can afford a $453,000 home. In October, a buyer with the same monthly budget and a 7.8% mortgage rate could have afforded a $416,000 home.

Buyers 339

Buyers Mortgage Agents Investors 339

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. You should be finding buyers before real estate agents anyway.”

Buyers 498

Buyers Agents Mortgage Real Estate Agent 498

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? Last year, according to Altos Research , the seasonal peak for housing inventory was Oct.

Inventory 442

Inventory New Listings Mortgage Retail 442

Housing Wire

FEBRUARY 7, 2024

With mortgage rates briefly topping 8% and home prices breaking records throughout the year, many would-be sellers simply decided not to bother listing their homes, exacerbating already tight inventories. Mortgage rates followed suit, walloping buyers’ purchasing power. New data from the U.S.

Inventory 383

Inventory Sellers Mortgage Marketing 383

Housing Wire

FEBRUARY 13, 2023

The housing market experienced more volatility last week, with housing inventory dropping as mortgage rates moved higher. The start of 2023 has been good, considering mortgage rates have stayed above 6% most of the time. I am keeping an eye on how much growth we can get with mortgage rates over 6%. Since Nov.

Inventory 483

Inventory Housing Market Mortgage Marketing 483

Housing Wire

MARCH 9, 2024

We survived jobs week and Federal Reserve Chairman Jerome Powell talking to Congress, with mortgage rates ending the week below 7%. But will mortgage rates keep heading lower? If so, what will this do to inventory levels? It’s a plus for mortgage rates that the U.S. We haven’t broken either yet.

Mortgage 439

Mortgage Inventory New Listings Housing Market 439

Housing Wire

MARCH 8, 2024

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 as of March 6, 2024. We are still going to suffer from lack of inventory.”

Housing Market 391

Housing Market Buyers Agents Marketing 391

Housing Wire

DECEMBER 13, 2023

While the central bank did not completely rule out the possibility of a rate increase in 2024, that action seems unlikely. by the end of 2024, suggesting three 25 basis points (bps) cuts from current levels. What does this mean for mortgage rates? Mortgage rates should get better.

Inventory 457

Inventory Housing Market Mortgage Law 457

Housing Wire

APRIL 25, 2024

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. “It Buyers are really struggling.” We are going to see an increase in inventory. So, they are just hunkering down.”

Buyers 374

Buyers Marketing Inventory Investors 374

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. This isn’t the case in 2024. All four U.S.

Inventory 449

Inventory New Listings Housing Market Contracts 449

Housing Wire

DECEMBER 9, 2023

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. This happened even with higher home prices and higher mortgage rates in 2023. Now lets take a look at the weekly inventory data.

Mortgage 517

Mortgage Inventory New Listings Sellers 517

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. On the bright side, housing inventory rose 1.8% lower than October 2022 when inventory was at 1.22 Meanwhile, unsold inventory sat at a 3.6-month Existing-home sales dropped 4.1%

Inventory 377

Inventory Realtors New Listings Contracts 377

Housing Wire

MARCH 19, 2024

Mortgage rates remained flat this week ahead of the next meeting of the Federal Open Market Committee (FOMC). HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.07% on Tuesday, down from 7.08% one week earlier. If mortgage rates continue to rise to 7.5% from a year ago.

Mortgage 345

Mortgage Inventory Buyers Marketing 345

Housing Wire

APRIL 20, 2023

months’ worth of housing inventory in the U.S. NAR: First-time buyers were responsible for 28% of sales in March; Individual investors purchased 17% of homes; All-cash sales accounted for 27% of transactions; Distressed sales represented 1% of sales; Properties typically remained on the market for 29 days. We only have 2.6

Inventory 518

Inventory Housing Market Marketing New Listings 518

Housing Wire

FEBRUARY 20, 2024

Inventory is climbing vs. last year, and home prices have stayed flat for three weeks now. Mortgage rates are back over 7%. And as demand slows, inventory grows. Inventory is up over last year and is about to turn the corner and start climbing for the spring selling season, probably within a couple weeks.

Mortgage 481

Mortgage Inventory Sellers New Listings 481

Housing Wire

DECEMBER 1, 2023

The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan. Now he is off the sideline because a 5% down payment is completely doable,” said Krichmar, a mortgage banker at Legend Lending Corporation.

Finance 381

Finance Buyers Mortgage Inventory 381

Housing Wire

DECEMBER 14, 2023

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. on Thursday.

Mortgage 476

Mortgage New Listings Loan Officers Inventory 476

Housing Wire

DECEMBER 20, 2023

Did today’s existing home sales report give us a playbook for housing in 2024? However, this time around, the Federal Reserve rate hike cycle is over, and we don’t need to worry about Fed presidents going on CNBC in 2024 crying about 6% mortgage rates making their lives difficult. So, let’s not make that mistake in 2024.

Housing Market 428

Housing Market Marketing Inventory Realtors 428

Housing Wire

NOVEMBER 16, 2023

Elevated mortgage rates sank builder confidence again in November, but recent economic data suggests housing conditions will pick up in the coming months. On the consumer side, a large number of prospective buyers sat on the sidelines as housing affordability worsened. The gauge measuring traffic of prospective buyers declined to 21.

Inventory 389

Inventory Construction Housing Market Finance 389

Housing Wire

JANUARY 23, 2024

For what felt like a moment in time, buyers enjoyed the luxury of being incredibly picky, carefully selecting what felt like their dream homes in a market that had shifted towards more favorable conditions. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

Real Estate Agent 403

Real Estate Agent Real Estate Buyers Agents 403

Housing Wire

JANUARY 30, 2024

“Home price growth continued to accelerate through the winter and registered solid monthly gains despite a mortgage rate surge before the Fed December meeting which weighed heavily on already existing affordability challenges,” CoreLogic chief economist Selma Hepp said in a statement. in September to 7.8% by the end of November.

Mortgage 392

Mortgage Buyers Housing Market Marketing 392

Housing Wire

DECEMBER 2, 2023

Mortgage rates almost fell below 7%, the 10-year yield is below 4.25% again, and people are seriously talking about Fed rate cuts in 2024. Mortgage rates have fallen by almost 1% in a short time, and it has created four straight weeks of positive purchase application data. Mortgage rates and the 10-year yield We are back!

Mortgage 542

Mortgage Inventory New Listings Sellers 542