Housing Wire

JANUARY 26, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. increase between 2024 and 2025 to a pace of 5.35

Contracts 445

Contracts Housing Market Construction Inventory 445

Housing Wire

JANUARY 4, 2023

This article is part of our 2022 – 2023 Housing Market Forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business. million and 4.57

Housing Market 497

Housing Market Marketing Mortgage Contracts 497

Housing Wire

FEBRUARY 15, 2024

“We are excited about how we are set up for 2024 and beyond,” CEO Carrie Wheeler told investors and analysts listening to the firm’s Q4 2023 earnings call on Thursday evening. Looking where we stand today, we are expecting an increase in contract volume late in Q1, which will translate into sequential acquisition growth in Q2,” Wheeler said.

Business 318

Business Advertising Inventory Contracts 318

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? Some argue that money will go into the safety of the bond market, while others say a wider war can lead to higher inflation and higher rates.

Inventory 422

Inventory Mortgage New Listings Retail 422

Housing Wire

MAY 28, 2024

real estate market at the end of May 2024. Inventory There are 595,000 single-family homes on the market now. That’s up almost 3% for the week and represents 37% more homes unsold on the market now than at this time last year. But, basically, inventory is still climbing everywhere as mortgage rates are still north of 7%.

Inventory 511

Inventory New Listings Contracts Sellers 511

Housing Wire

SEPTEMBER 19, 2023

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. We’re hearing people imagine 8% mortgage rates. What’s happening? That’s a 1.9%

Housing Market 405

Housing Market Marketing Inventory New Listings 405

Housing Wire

MAY 22, 2024

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. The chart below shows that the inventory growth rate picked up more in 2024 after March. We have had two times recently when mortgage rates dropped more than 1%.

Inventory 449

Inventory New Listings Housing Market Contracts 449

Housing Wire

DECEMBER 20, 2022

The housing market will continue to slow down in 2023 , even though mortgage rates have declined recently. So what does it mean for the housing market ? . Total mortgage origination activity is expected to be at $2.35 However, the landscape seems better for 2024. in 2022 and drop 0.5% trillion. .

Housing Market 330

Housing Market Marketing Contracts Mortgage 330

Housing Wire

OCTOBER 10, 2023

The same trends in the housing market in recent weeks are still dominant this week. Mortgage rates continue to climb. It’s not uncommon to hear rates quoted over 8% for a 30-year fixed mortgage. To find out more of my weekly housing market insights backed by Altos Research data, watch the video above.

Mortgage 391

Mortgage Inventory Contracts Sellers 391

Housing Wire

FEBRUARY 20, 2024

Mortgage rates are back over 7%. The housing market data has been changing very rapidly this year. The economy has continued to be strong, so mortgage rates have defied expectations and remained very high. New listings rise New listings continue to show us that more sellers are interested in this market this year.

Mortgage 481

Mortgage Inventory Sellers New Listings 481

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. In my 2024 forecast , I put the 10-year yield range between 3.21%-4.25% , with a critical line in the sand at 3.37%. That hasn’t happened.

Mortgage 445

Mortgage Inventory New Listings Housing Market 445

Housing Wire

DECEMBER 19, 2023

The defining characteristic of the 2023 housing market has been dramatically fewer home sellers than any recent year. In this week’s Altos Research video, I look at how home sellers and sales are up, but that doesn’t mean prices will climb in 2024. Housing inventory climbed late in the year as mortgage rates rose.

Sellers 424

Sellers Marketing Inventory Contracts 424

Housing Wire

NOVEMBER 21, 2022

The forecast for the housing market is expected to get gloomier next year before rebounding to 2022 levels in 2024. million in 2024. The latest forecast also projects that total mortgage origination activity is slightly increased at $2.34 The mortgage market is projected to slip further, however, to $1.74

Contracts 357

Contracts Government Mortgage Buyers 357

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to offering documents.

Housing Market 374

Housing Market Marketing Contracts Finance 374

Housing Wire

OCTOBER 31, 2023

We may be nearing the bottom in home sales even if mortgage rates don’t decline. As a result, there may be a light at the end of the tunnel in this crazy market cycle. To get the weekly picture of the housing market, watch the video above. This has been a supply-constrained market, and it’s not just a demand thing.

New Listings 466

New Listings Inventory Contracts Housing Market 466

Housing Wire

APRIL 29, 2024

It’s still April, so there could be as many as eight more weeks of seller growth in the spring housing market. 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. housing market at the end of April 2024.

Sellers 462

Sellers Marketing Inventory Contracts 462

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. Homes typically go under contract a month or two before the closing, which means the October data largely reflects purchase decisions made in August and September.

Inventory 377

Inventory Realtors New Listings Contracts 377

Housing Wire

APRIL 1, 2024

As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. But now sellers are coming back into the market. All of these signals point to rising home sales in 2024. Pending sales Last week saw 69,000 new contracts for single-family home purchases across the country.

Inventory 457

Inventory New Listings Contracts Sellers 457

Housing Wire

MAY 13, 2024

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. All in all, you can see how effectively 7% mortgage rates have slowed the housing market. real estate market as of mid-May 2024.

New Listings 402

New Listings Contracts Inventory Sellers 402

Housing Wire

JANUARY 8, 2024

Based on the trends we can see after the start of the year, I’ll project 2024 will see about 15% home sales growth over 2023. 2023 started with recovery, but slowed down in Q3 as mortgage rates hit 8%. But, 2024 is starting stronger than last year. But, 2024 is starting stronger than last year. That’s certainly possible.

Real Estate 487

Real Estate Marketing Inventory New Listings 487

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. housing market as we roll into May 2024.

Inventory 392

Inventory Contracts Sellers New Listings 392

Housing Wire

MARCH 5, 2024

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. A little more than two months into the year, however, mortgage rates are the highest they’ve been as the U.S.

Loan Officers 377

Loan Officers Mortgage Buyers Inventory 377

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. in 2024, hitting 800,000 new homes. in 2024, to $445,800. In 2024, they should rise by 13.5% In 2024, it will rise to 1.48

Inventory 355

Inventory Contracts Housing Market Realtors 355

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

JANUARY 22, 2024

For several weeks, I’ve been reporting data that shows the housing market growing in 2024. Those metrics, specifically the pace of new listings and new sales contracts, slowed this week. New listings and new contracts both still show a bit of improvement over 2023, but the growth rates have slid back down.

Real Estate 387

Real Estate New Listings Contracts Inventory 387

Housing Wire

MAY 2, 2024

The housing market has been on a topsy-turvy roller-coaster ride in recent years that has been particularly neck wrenching since this past fall, fueled by stubbornly high inflation and a still-strong jobs market. at the end of April, according to HousingWire ’s Mortgage Rates Center. They crested near 7.6%

Marketing 361

Marketing Mortgage Investors Sellers 361

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

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. We’re slowly emerging from a supply-constrained market.

Inventory 441

Inventory Contracts New Listings Sellers 441

Housing Wire

JANUARY 29, 2024

They obviously picked up in December when mortgage rates did a recent dip. We shared that sales growth data back in December as it was happening in the housing market. However, December’s momentum slowed very quickly in January as mortgage rates jumped back up and as a deep freeze gripped the country.

Contracts 390

Contracts Inventory Housing Market Mortgage 390

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. housing market for the week of April 22. Now we’re at 69,000.

Inventory 474

Inventory New Listings Sellers Contracts 474

Housing Wire

JANUARY 20, 2023

Homebuilder confidence and demand for mortgages have increased recently, keeping hopes high for an improved housing market in 2023. But a modest recession is still expected this year, and elevated mortgage rates, coupled with high home prices, will limit housing activity, according to Fannie Mae.

Mortgage 346

Mortgage Housing Market Buyers Contracts 346

Housing Wire

FEBRUARY 27, 2023

“Buyers responded to better affordability from falling mortgage rates in December and January,” Lawrence Yun, NAR’s chief economist, said in a statement. An index of 100 is equal to the level of contract activity in 2001. in 2024 Despite these conditions, Yun still expects annual existing home sales to drop 11.1% million units.

Housing Market 393

Housing Market Realtors Contracts Buyers 393

Housing Wire

JANUARY 19, 2024

Today, we need context for the growth we’ll see in existing home sales in 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. It happened in 2008 and then didn’t happen again until 2023.

Housing Market 405

Housing Market Inventory Contracts Marketing 405

Housing Wire

AUGUST 24, 2023

“In order to achieve a soft landing, economic growth will have to slow to a rate that is below trend for some time in order for the unemployment rate to rise sufficiently to cause wage growth to slow consistent with a 2% inflation target over the long term, but not so slow that the economy falls into a contraction,” the ESR group said.

Construction 262

Construction Retail Mortgage Contracts 262

Housing Wire

SEPTEMBER 12, 2023

housing market now. That’s frankly surprising given how cold the housing market froze last fall. 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. We have significantly fewer home sales happening.

Contracts 363

Contracts Inventory Housing Market Buyers 363

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 are only 326,000 single-family homes in the contract pending stage. 52,000 new contracts for single-family homes this week. There’s no sign of the sales rate improving until mortgage rates move.

Inventory 435

Inventory Contracts Sellers New Listings 435

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. They climbed starting Jan. The takeaway?

Inventory 384

Inventory New Listings Sellers Contracts 384