Housing Wire

MARCH 2, 2024

The mortgage rate lockdown premise says that if rates rise, inventory can’t grow meaningfully. 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.

Inventory 532

Inventory Mortgage New Listings Housing Market 532

Housing Wire

MAY 8, 2024

Housing credit channels directly impact housing inventory channels. Home prices escalated out of control after 2020 and when we look at why that happened, we can see that housing credit mattered more to inventory data than most people realize. This matters because inventory was already heading toward all-time lows before COVID-19.

Inventory 428

Inventory Law New Listings Sellers 428

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 housing inventory data Here is a look at last week: Weekly inventory change (Jan. 19-26) : Inventory fell from 506,414 to 503,233 Same week last year (Jan.

Inventory 516

Inventory New Listings Mortgage Marketing 516

Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. Weekly housing inventory data Here is a look at the first week of the year: Weekly inventory change (Jan. 12-19) : Inventory rose from 505,223 to 506,414 Same week last year (Jan.

Inventory 539

Inventory Mortgage New Listings Sellers 539

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.

Inventory 433

Inventory New Listings Mortgage Housing Market 433

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 524

Inventory New Listings Retail Mortgage 524

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.

Inventory 505

Inventory New Listings Retail Mortgage 505

Housing Wire

JANUARY 6, 2024

Now that mortgage rates have fallen and as we start the brand new year, we need to focus on this data line more. I believe we should get more sellers in 2024 than in 2023, but that doesn’t necessarily mean home prices will fall. Here are the year-over-year price-cut percentages from the first week of the year: 2024 32.8%

Inventory 541

Inventory New Listings Housing Market Mortgage 541

Housing Wire

NOVEMBER 25, 2023

However, the recent drop in housing inventory has more to do with seasonality factors than lower mortgage rates. Higher mortgage rates did push inventory higher during the seasonal period when it would normally be declining. The question now is what will inventory look like in the spring if mortgage rates keep falling?

Inventory 527

Inventory Mortgage New Listings Buyers 527

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 453

Inventory New Listings Mortgage Retail 453

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. Last year, the seasonal peak for inventory was Oct. Weekly inventory change (Oct. Weekly inventory change (Oct.

Inventory 496

Inventory Mortgage New Listings Marketing 496

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. 8% for spring 2024. What have 2022, 2023, and 2024 shown us? The growth isn’t just in active inventory but also new listings.

Mortgage 506

Mortgage Inventory New Listings Housing Market 506

Appraisal Buzz

MARCH 26, 2024

As of March 17, there were roughly 795,645 active listings. There were roughly 88,902 new listings added during that same four weeks – and increase of 15% and the biggest increase since June 2021. The surge in listings is bringing some buyers back to the market, the firm says. The total number of U.S. The median U.S.

New Listings 195

New Listings Buyers Marketing Inventory 195

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!

Mortgage 514

Mortgage Inventory New Listings Housing Market 514

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. New data from the U.S. When inventory bounces back The extremes of the 2020s have dealt big blows to for-sale inventories.

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Inventory Sellers Mortgage Marketing 394

Housing Wire

MAY 15, 2024

After an initial rush to get to market in Q2 2022, new listings volume fell precipitously. In July 2022, new listings volume per week dropped from 90,000 at the end of June to approximately 74,000 just after the July 4th holiday. We see the same pattern in the new listings rate each week.

Mortgage 345

Mortgage New Listings Inventory Sellers 345

Housing Wire

MARCH 16, 2024

It’s spring 2024 and we have a Federal Reserve meeting this week. For 2024, the 10-year yield running between 3.80%-4.25% looks perfectly normal to me as long as the economic data is firm and the Fed hasn’t pivoted. This means we will show more than normal inventory growth until we get past tax day 2024.

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Housing Market Inventory New Listings Marketing 446

Housing Wire

MAY 11, 2024

Weekly housing inventory data Last week was another week that missed my inventory growth model with higher rates. I am always looking for weekly inventory growth between 11,000 and 17,000 when rates are over 7.25%. Rates have fallen recently and inventory growth was higher last week than the previous week.

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Mortgage Inventory New Listings Housing Market 390

Housing Wire

NOVEMBER 18, 2022

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. However, I knew the years 2020-2024 would see better demand from the bump in demographics.

Inventory 462

Inventory Marketing Housing Market New Listings 462

Housing Wire

NOVEMBER 21, 2023

“Prospective home buyers experienced another difficult month due to the persistent lack of housing inventory and the highest mortgage rates in a generation,” NAR Chief Economist Lawrence Yun said in a statement. On the bright side, housing inventory rose 1.8% On the bright side, housing inventory rose 1.8%

Inventory 387

Inventory Realtors New Listings Contracts 387

Housing Wire

MARCH 9, 2024

If so, what will this do to inventory levels? 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%. Weekly housing inventory data The positive story for housing in 2024 has been the inventory growth we have seen year-over-year.

Mortgage 451

Mortgage Inventory New Listings Housing Market 451

Housing Wire

DECEMBER 9, 2023

Weekly housing inventory data We will start with the price cut data percentage because it deserves a detailed explanation. Now lets take a look at the weekly inventory data. Last year, according to Altos Research , the seasonal peak for housing inventory was Oct. Weekly inventory change (Dec.

Mortgage 523

Mortgage Inventory New Listings Sellers 523

Housing Wire

APRIL 18, 2024

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. Of course this isn’t the healthiest housing inventory story. However, that hasn’t been the case so far in 2024.

Inventory 477

Inventory Housing Market New Listings Buyers 477

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. The call was that if mortgage rates rose above 7.25% , we would see more inventory growth — between 11,000-17,000 weekly. Now, we see the seasonal inventory decline. What a week!

Mortgage 542

Mortgage Inventory New Listings Sellers 542

Housing Wire

NOVEMBER 18, 2023

Let’s see how this looks in the critical time from the second week of January to the first week of May 2024. We would usually be in a seasonal decline by now, but inventory growth has recently picked up due to higher rates. Last year, according to Altos Research , the seasonal peak for housing inventory was Oct.

Mortgage 452

Mortgage Inventory New Listings Housing Market 452

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. One LO said he quoted an FHA borrower at 5.7%.

Mortgage 477

Mortgage New Listings Loan Officers Inventory 477

Housing Wire

DECEMBER 16, 2023

Weekly housing inventory data Weekly active listing data is declining now like it always does every year at this time due to seasonality. Higher mortgage rates resulted in higher inventory during part of the fall and forced the seasonal decline in inventory to start later this year. Weekly inventory change : (Dec.

Inventory 533

Inventory New Listings Mortgage Law 533

Housing Wire

SEPTEMBER 22, 2023

Meanwhile, available inventory continues to dwindle as many homeowners stay put to keep their relatively low mortgage rates. 17, total active listings were at 806,701, down 16.2% However, new listings have stabilized, ticking up slightly since the beginning of September. . New listings are down 6.7%

New Listings 429

New Listings Inventory Buyers Mortgage 429

Housing Wire

SEPTEMBER 3, 2023

Mortgage rates did fall, purchase application data rose and new listings data came back to trend. Weekly active listings rose by only 5,654 Mortgage rates went from 7.37% and ended the week at 7.08% Purchase apps rose 2 % week to week Mortgage rates and the bond market The 10-year yield and mortgage rates were wild last week.

Mortgage 447

Mortgage Inventory New Listings Marketing 447

Housing Wire

JANUARY 26, 2024

According to an NAR outlook, home sales are projected to rise significantly in 2024 and 2025 as the housing market steadily returns to normal. The trade organization projects a 13% increase in existing home sales between 2023 and 2024 for an annualized pace of 4.62 increase between 2024 and 2025 to a pace of 5.35 million units.

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Contracts Housing Market Construction Inventory 448

Housing Wire

FEBRUARY 29, 2024

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% However, the timing and number of purchases will largely depend on the prevailing mortgage rates and inventory availability.”

Contracts 383

Contracts Inventory New Listings Realtors 383

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 New listing data is down 5% year to date, as you can imagine.

New Listings 475

New Listings Inventory Housing Market Sellers 475

Housing Wire

DECEMBER 21, 2022

In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! “The principal factor was the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. . Plus, available housing inventory remains near historic lows.”

Inventory 513

Inventory New Listings Housing Market Sellers 513

Housing Wire

MAY 8, 2024

“In down markets, the best agents and the best brokerages gain market share,” Reffkin, the CEO of Compass, told investors and analysts during his firms first-quarter 2024 earnings call on Wednesday evening. “We Year over year , Compass gained 26 basis points of market share, bringing its total share of home sales in Q1 2024 to 4.76%.

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Agents Brokerage Real Estate Clients 347

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 394

Mortgage Sellers New Listings Buyers 394

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. Serious buyers showed discernment as they know inventory is growing. In 2024, the housing market is set to continue on.

Inventory 319

Inventory Lending Real Estate Housing Market 319

Housing Wire

FEBRUARY 23, 2024

Here are some charts reviewing today’s report with a host of data lines from the NAR existing home sales report: [link] A few critical glaring points: active inventory is still historically low, and so is monthly supply data. This means 2024 is starting to look a lot like 2023 unless rates fall soon.

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Inventory Mortgage New Listings Marketing 435