Housing Wire

MARCH 23, 2024

As rates were hitting year-to-date highs, the fear was that the Fed would go hawkish in their March meeting, which could push mortgage rates toward 8% and tank 2024 demand. Let’s look at the tracker data to see how mortgage rates are impacting the housing data as we settle into spring. 8% for spring 2024.

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Mortgage Inventory New Listings Housing Market 507

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? It’s not part of my 2024 forecast, but since the Federal Reserve likes playing with fire , let’s look at where we are with mortgage rates and their impact on weekly housing data. Serious mortgage rate talk!

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Mortgage Inventory New Listings Housing Market 516

Housing Wire

MAY 15, 2024

housing market saw dramatic changes in affordability as mortgage rates skyrocketed 500 basis points. After an initial rush to get to market in Q2 2022, new listings volume fell precipitously. We can observe this trend in both the count of new listings per week and in the total number of unsold homes on the market.

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Mortgage New Listings Inventory Sellers 349

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. Here is a look at inventory last week: Weekly inventory change (Feb.

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Inventory Mortgage New Listings Housing Market 532

Housing Wire

MAY 4, 2024

I wish new listings were growing faster, but I will call it a victory nonetheless. We saw a slight decline in new listings data week to week. The price-cut percentage growth in 2024 is much slower than in 2022, when rates spiked more aggressively. So, the spreads getting better this year is a positive storyline.

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Inventory Mortgage New Listings Marketing 417

Housing Wire

DECEMBER 7, 2022

One issue that has created a waterfall dive in purchase application data and sales is that new listing data is declining faster than usual. Since the summer of 2020, I have believed the housing market could change in terms of cooling down, but it would require the 10-year yield to break over 1.94%.

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Housing Market Mortgage Marketing Inventory 543

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. Still, new listing data is a positive story. This means mortgage rates will likely remain in the upper range of my 2024 forecast of 6.75%-7.25%.

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Inventory New Listings Mortgage Housing Market 421

Housing Wire

JANUARY 26, 2024

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. Job additions and income growth will further help with housing affordability, but increased supply will be essential to satisfying all potential demand.”

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Contracts Housing Market Construction Inventory 448

Housing Wire

MAY 11, 2024

However, this year, even though the spreads are still historically bad, they’ve improved over last year, which is a plus for the housing market. The fact that this data line is now positive is a very promising sign for the housing market. The slope of the curve in 2024 is much slower than we saw in 2022.

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Mortgage Inventory New Listings Housing Market 394

Housing Wire

APRIL 19, 2024

year over year in the first quarter of 2024, with the median price hitting a record $1.225 million, according to data from Redfin. Redfin defined luxury homes as those estimated to be in the top 5% of their metro area based on market value, while non-luxury homes are those with estimated values in the 35th to 65th percentile.

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Luxury Properties New Listings Buyers Housing Market 422

Sacramento Appraisal Blog

JANUARY 17, 2024

UPCOMING (PUBLIC) SPEAKING GIGS: 01/31/24 Joel Wright & Mike Gobbi Event 9am (on Zoom here) 02/01/24 Gateway Event (private) 2/09/24 PCAR WCR Event […] The post The spring housing market is waking up & random stats first appeared on Sacramento Appraisal Blog.

Housing Market 306

Housing Market Marketing Appraisal New Listings 306

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 506

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.

Inventory 437

Inventory New Listings Mortgage Housing Market 437

Housing Wire

NOVEMBER 21, 2023

At the same time, existing inventory has likely already bottomed out and new listings are keeping steady despite normal seasonal declines. Together, the two may suggest that there really is nowhere to go but up in 2024,” she said. “In

Inventory 389

Inventory Realtors New Listings Contracts 389

Housing Wire

APRIL 18, 2024

This is a byproduct of the qualified mortgage rule of 2010, which has been a game-changer not only for the housing market but for the overall U.S. However, that hasn’t been the case so far in 2024. NAR: Total housing inventory registered at the end of March was 1.11 This is never a good thing for housing.

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Inventory Housing Market New Listings Buyers 478

Housing Wire

DECEMBER 14, 2023

“Given inflation continues to decelerate and the Federal Reserve Board’s current expectations that they will lower the federal funds target rate next year, we likely will see a gradual thawing of the housing market in the new year,” Sam Khater, Freddie Mac’s chief economist said in a statement.

Mortgage 477

Mortgage New Listings Loan Officers Inventory 477

Housing Wire

MARCH 9, 2024

Mortgage rates and the 10-year yield The 10-year yield is the key for all my housing work, so I focus on it religiously. 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%. Let’s look at this week’s tracker data to get clues for the future.

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Mortgage Inventory New Listings Housing Market 454

Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. So far, so good in 2024. New listings data While new listings data isn’t growing in significant terms year over year — sorry, silver tsunami crowd — it is showing growth year over year.

Inventory 539

Inventory Mortgage New Listings Sellers 539

Housing Wire

APRIL 20, 2024

Housing inventory finally hit my target level of growth last week with mortgage rates now over 7.25% , something I couldn’t get all last year. 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. 2022: 18.7%

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Inventory New Listings Mortgage Finance 479

Housing Wire

JANUARY 28, 2024

Purchase application data As we get closer to the end of the first month of 2024, forward-looking purchase application data looks good. Weekly new listing data: 2024: 44,921 2023: 42,843 2022: 47,713 Price cut percentage Every year, one-third of all homes take a price cut before selling — nothing abnormal about that.

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Inventory New Listings Mortgage Marketing 516

Housing Wire

MAY 8, 2024

So inventory slowly broke lower and lower as we came into the years 2020-2024. These years have seen the most enormous housing demographic patch ever recorded in history, with ages 28-35 being massive. As you can see in the chart below, when we entered 2020, housing inventory was already on the verge of breaking toward all-time lows.

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Inventory Law New Listings Sellers 432

Housing Wire

JANUARY 13, 2024

So let’s hope for more home sellers in 2024. Weekly housing inventory data Here is a look at the first week of the year: Weekly inventory change (Jan. This is the price-cut percentage for the same week over the last few years: 2024 32.2% We can grow new listings from these depressed levels and get more demand.

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Inventory New Listings Retail Mortgage 525

Housing Wire

MARCH 6, 2024

But with mortgage rates ascending past 7% according to HousingWire’s Mortgage Rates Center , those hopes have so far been dashed in 2024. This is clear in the chart below, which shows the year-over-year percent change in the four-week average of new listings. 31% in 2023-2024. in 2019-2020, 16.9-17.2%

Mortgage 397

Mortgage Sellers New Listings Buyers 397

Housing Wire

FEBRUARY 22, 2024

“Strong incoming economic and inflation data has caused the market to re-evaluate the path of monetary policy, leading to higher mortgage rates,” Sam Khater, Freddie Mac’s chief economist, said in a statement. Historically, the combination of a vibrant economy and modestly higher rates did not meaningfully impact the housing market.

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Mortgage New Listings Housing Market Buyers 407

Housing Wire

DECEMBER 9, 2023

9): Inventory fell from 550,302 to 536,409 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 1,050,971 The new listing data has been trending at the lowest levels ever for 17 months now. Weekly inventory change (Dec.

Mortgage 524

Mortgage Inventory New Listings Sellers 524

Housing Wire

SEPTEMBER 22, 2023

17, total active listings were at 806,701, down 16.2% However, new listings have stabilized, ticking up slightly since the beginning of September. “In one week, we had the biggest decline in new listings data all year, which might indicate Americans are giving up on listing their homes.

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New Listings Inventory Buyers Mortgage 432

Housing Wire

NOVEMBER 9, 2022

In the previous expansion, one of my long-term calls was that the MBA purchase application data will never hit the volume level of 300 until the years 2020-2024. The years 2020-2024 were going to be the time when total home sales could finally reach 6.2 However, the housing market did run into one problem in 2020.

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New Listings Inventory Housing Market Sellers 477

Housing Wire

NOVEMBER 18, 2022

On a positive note, however, the days on the market are no longer a teenager anymore: that metric grew from 18 days to 21 days. I cheer because the savagely unhealthy housing market theme I talked about back in February of this year was the same premise of the housing reset talking point the Federal Reserve uses.

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Inventory Marketing Housing Market New Listings 463

Housing Wire

NOVEMBER 18, 2023

Did the recent move lower in mortgage rates turn the housing market positive? Let’s see how this looks in the critical time from the second week of January to the first week of May 2024. I talked about how new listings data is forming a bottom on CNBC recently. Weekly inventory change (Nov.10-Nov.

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Mortgage Inventory New Listings Housing Market 455

Housing Wire

MAY 3, 2024

In Denver in particular, new listings increased 29.12% month-over-month and 22.63% year-over-year. Active listings at month’s end rose 13.14% to 5,511 homes, an astounding 45.87% gain year-over-year. Millennials, a sizable chunk of people in their prime buying years, are entering the housing market in force.

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Inventory Lending Real Estate Housing Market 323

Housing Wire

DECEMBER 21, 2022

We have had two historic events that created a waterfall dive in demand recently; we now have precise data showing new listing data declining with those events, which shows how important that data line is to housing demand. This is the biggest story in housing. . economic history. . As we can see below, the U.S.

Inventory 515

Inventory New Listings Housing Market Sellers 515

Housing Wire

NOVEMBER 11, 2023

We saw some good growth this week, and hopefully, in 2024, we can close the gap and get back to 2021-2022 data on new listings. We saw some good growth this week, and hopefully, in 2024, we can close the gap and get back to 2021-2022 data on new listings. Weekly inventory change (Nov. If we start from Nov.

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Inventory New Listings Mortgage Retail 456

Housing Wire

NOVEMBER 25, 2023

However, with mortgage rates down to 7.32%, we need to keep a closer eye on the weekly data, especially going into spring 2024, if rates fall more. Last year, according to Altos Research , the seasonal peak for housing inventory was Oct. No matter how high mortgage rates got, they didn’t create a new bottom range of new listings.

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Inventory Mortgage New Listings Buyers 528

Sacramento Appraisal Blog

JANUARY 30, 2024

But in 2024 there’s a flicker of hope as sellers have thawed out just a bit. I’ll explain what I mean below, and I suspect many markets around the country are experiencing a similar trend. Stuck in place. Not moving. That pretty much describes sellers. Any thoughts?

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Sellers Appraisal Marketing New Listings 364

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. One concern with higher mortgage rates was that more sellers — who are traditional buyers — would not list their homes. What a week! Purchase application data Hello, early Christmas present!

Mortgage 542

Mortgage Inventory New Listings Sellers 542

Housing Wire

FEBRUARY 29, 2024

.” Lower mortgage rates buoyed buyer demand in early 2024, but rates started to inch back up toward 7% in February. We expect future pending home sales to improve over last year’s levels, though at a muted pace, given the pull-back in new listing growth,” CoreLogic chief economist Selma Hepp said in a statement.

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Contracts Inventory New Listings Realtors 387

Housing Wire

DECEMBER 4, 2023

Now that Thanksgiving is behind us and December is well under way, we can start looking ahead to the 2024 housing market. 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.

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Housing Market Marketing Inventory New Listings 483