Housing Wire

OCTOBER 16, 2023

Available inventory of unsold homes rose by 1.8% It’s quite clear that homebuyers have hit the brakes waiting to see if mortgage rates recede from these multi-decade highs. Inventory is climbing more quickly now than last year. Will we see inventory growth YoY by November? Note the inventory climb is not from sellers.

Inventory 435

Inventory Contracts Sellers New Listings 435

Housing Wire

JANUARY 16, 2024

The longer we stay with mortgage rates higher, the more inventory will build closer to where it used to be. Mortgage rates are higher than they were a year ago. Higher mortgage rates means more inventory. But as of now, rates are holding in the upper 6s and inventory is building slowly. That’s a 1.2%

Inventory 419

Inventory New Listings Sellers Contracts 419

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% There’s nothing bullish on the horizon for home prices in 2024. Short on time?

New Listings 479

New Listings Contracts Inventory Housing Market 479

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

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

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

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. billion in inventory. billion in inventory. “We For iBuyer Opendoor , 2023 was all about moderation. “We

Business 318

Business Advertising Inventory Contracts 318

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

JANUARY 2, 2024

real estate market is in and it may surprise you, but pretty much all the signals for housing in 2024 are pointing for growth now. Inventory is slowly but steadily increasing over last year, which means slightly more options for buyers this spring. 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

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

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

APRIL 9, 2024

Mortgage rates remained unchanged last week despite the release of the stronger-than-expected jobs report. HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.16% on Tuesday, unchanged from one week earlier. At the same time one year ago, the 30-year fixed rate averaged 6.46%.

Mortgage 356

Mortgage New Listings Inventory Contracts 356

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. from September, with 1.15

Inventory 377

Inventory Realtors New Listings Contracts 377

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

OCTOBER 10, 2023

Mortgage rates continue to climb. It’s not uncommon to hear rates quoted over 8% for a 30-year fixed mortgage. 8% mortgage rates are a new reality We’ve been talking about the impact of 8% mortgage rates for months. Inventory continues to grow faster than last year at this time. Here are a few key takeaways.

Mortgage 391

Mortgage Inventory Contracts Sellers 391

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. Could the housing market change and slow again in 2024?

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

DECEMBER 19, 2023

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. The inventory picture There are now 539,000 single-family homes on the market unsold, which is up 3.2% Housing inventory climbed late in the year as mortgage rates rose. We had 37.6%

Sellers 424

Sellers Marketing Inventory Contracts 424

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 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. real estate market as of mid-May 2024. As the U.S.

New Listings 402

New Listings Contracts Inventory Sellers 402

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

NOVEMBER 14, 2023

As 2023 draws to a close soon, housing inventory has been rising very late in the year. Here are some key housing market data takeaways: Inventory peaks for the year There are 567,000 single-family homes on the market, which is unchanged from last week. Remember the Altos rule: If rates go up, inventory will build in 2024.

Housing Market 421

Housing Market Marketing Inventory Contracts 421

Housing Wire

MAY 20, 2024

Well, I have revised down my estimates for national home-price appreciation for 2024. Price reductions typically peak in November before resetting for the holidays and the fresh inventory in the spring. In these markets, inventory is growing more rapidly and other costs, such as insurance and taxes, are up a lot. That’s up 1.7%

Inventory 392

Inventory New Listings Sellers Contracts 392

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.” in 2024, hitting 800,000 new homes.

Inventory 355

Inventory Contracts Housing Market Realtors 355

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. So while we can see currently the prices of home sales holding up, the signals for the end of 2024 and into 2025 seem to suggest we’re heading for flat home prices. Now it’s on the rise.

New Listings 479

New Listings Inventory Contracts Sellers 479

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

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 year over year.

Contracts 357

Contracts Government Mortgage Buyers 357

Housing Wire

JANUARY 29, 2024

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. Homes in contract rises There are more homes in contract now than last year at this time.

Contracts 390

Contracts Inventory Housing Market Mortgage 390

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

MARCH 28, 2024

Pending home sales increased modestly in February despite rising mortgage rates , growing 1.6% For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. Overall, active inventory grew 14.8%

Inventory 418

Inventory Realtors Contracts Sellers 418

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

FEBRUARY 26, 2024

Price reductions ticked up this week for the first time since November in the face of rising mortgage rates. Inventory is rising across the country as home-buying affordability takes another hit. We can see the impact of higher mortgage rates slowing homebuyer demand. As demand slows, inventory grows.

Sellers 401

Sellers Inventory New Listings Contracts 401

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. There were just 1.4%

Real Estate 387

Real Estate New Listings Contracts Inventory 387

Housing Wire

FEBRUARY 29, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. Meanwhile, new home sales , which are also a measure of contract signings, reached a seasonally adjusted annual rate of 661,000 in January, up 1.5% Overall active inventory improved 7.9% from December’s annualized rate.

Contracts 371

Contracts Inventory Realtors New Listings 371

Housing Wire

SEPTEMBER 12, 2023

New contracts dipped as affordability is out of reach for so many. Inventory is very low and just inching up now week over week late in the summer. Inventory up slightly There are now just over 509,000 single-family homes active unsold on the market. This year, while mortgage rates are high, they aren’t climbing now.

Contracts 363

Contracts Inventory Housing Market Buyers 363

Housing Wire

APRIL 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The lack of housing inventory is a major constraint to rising sales,” Lawrence Yun , NAR’s chief economist, said in a statement. In addition, NAR forecasts that mortgage rates will drop to 6.0% in 2024, and housing starts will fall 7.3% year over year.

Inventory 387

Inventory Realtors Contracts Construction 387

Housing Wire

MAY 2, 2024

In early November, 30-year fixed mortgage rates began a nosedive, declining from near 8% to below 7% in a matter of months before once again starting to rise at the start of 2024. at the end of April, according to HousingWire ’s Mortgage Rates Center. They crested near 7.6%

Marketing 361

Marketing Mortgage Investors Sellers 361