Housing Wire

APRIL 1, 2024

As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. At the same time, seller volume dried up. But now sellers are coming back into the market. Total available inventory is gradually climbing about 1% per week — last year it was still declining in April.

Inventory 457

Inventory New Listings Contracts Sellers 457

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. And seller growth is happening pretty much everywhere across the country, with Florida and Texas leading the way. The bearish take is that there are many more sellers than buyers and inventory is rising.

Sellers 462

Sellers Marketing Inventory Contracts 462

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 416

Inventory Law New Listings Sellers 416

Housing Wire

APRIL 27, 2024

Active weekly housing inventory growth slowed slightly last week, but it’s still running at a healthier clip than in 2023. I have a simple model with mortgage rates being above 7.25%: weekly inventory data should grow between 11,000-17,000 per week. We have now seen it for two weeks as inventory grew by 13,247.

Inventory 495

Inventory Housing Market Marketing New Listings 495

Housing Wire

MAY 23, 2024

The pricing surge comes despite a marginal dip in weekly average mortgage rates , which fell from a five-month high of 7.22% to 7.02% at the beginning of May, according to Freddie Mac. The market continues to grapple with insufficient inventory , Redfin reported. The median U.S.

Inventory 344

Inventory Sellers New Listings Buyers 344

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

FEBRUARY 4, 2024

How will mortgage rates impact seasonal inventory in 2024? In the last four years, we have had abnormal seasonal inventory data, meaning that the spring inventory bottom happens later in the year. Also, when mortgage rates rise, the inventory peak happens later in the year.

Inventory 493

Inventory Mortgage New Listings Housing Market 493

Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. I will watch for rising mortgage rates to see if they change the weekly data. I will watch for rising mortgage rates to see if they change the weekly data. So far, so good in 2024.

Inventory 536

Inventory Mortgage New Listings Sellers 536

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.”

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Buyers Agents Mortgage Real Estate Agent 498

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

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

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

MAY 21, 2024

The United States Department of Veterans Affairs will soon release a circular that “bridges the gap” on an agency law that prohibits a VA buyer from paying their real estate agent compensation, a VA official announced on Tuesday. NAR has also advocated for the VA to change its rule around buyer broker compensation.

Buyers 510

Buyers Agents Real Estate Agent Real Estate 510

Housing Wire

MARCH 18, 2024

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. If mortgage rates continue to rise to 7.5%

Inventory 384

Inventory New Listings Sellers Contracts 384

Housing Wire

OCTOBER 3, 2023

As housing inventory builds in the housing market due to waning buyer activity, home prices show little to no signs of letting up. And that’s creating more affordability headaches for homebuyers who are already sidelined by high mortgage rates. This is an obvious indication of slower buyer demand amid higher interest rates.

Inventory 391

Inventory Sellers Buyers New Listings 391

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

MAY 17, 2023

Incenter Diligence Solutions , a provider of due diligence and document management services for the mortgage industry, announced on Wednesday that it has expanded offerings for the mortgage servicing rights (MSR) trading market. “Buyers and sellers need a diligence firm that can customize reporting in a timely manner.

Sellers 328

Sellers Buyers Clients Technology 328

Housing Wire

SEPTEMBER 26, 2023

However, mortgage applications for new home purchases increased 4% between July and August, the strongest pace of sales in three months. Homebuilders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction,” Bright MLS Chief Economist Lisa Sturtevant said.

Inventory 472

Inventory Buyers Construction Sellers 472

Housing Wire

JUNE 5, 2023

The affordability challenges homebuyers are facing are becoming more deeply entrenched, according to Black Knight ‘s most recent monthly mortgage monitor report. “In Tightening credit availability, elevated rates, inventory shortages and strengthening home prices are adding to affordability challenges, the report notes.

Inventory 377

Inventory Buyers Housing Market Mortgage 377

Housing Wire

FEBRUARY 5, 2024

Mortgage rates are back up over 7% this morning on the back of strong economic growth data. The 10-year bond yield jumped back over 4% and that pushes mortgage rates higher too. Mortgage rates are 40 basis points higher than a month ago, and 100 basis points higher than a year ago. Higher rates equals higher inventory.

Mortgage 403

Mortgage Inventory Sellers New Listings 403

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 10, 2024

Perhaps the most striking detail gleaned from a HousingWire analysis of millions of single-family purchase mortgages is how much more homebuyers had to pay in 2023 compared to 2022. Residential mortgage originators are responsible for filing data with the CFPB under the Home Mortgage Disclosure Act.

Buyers 363

Buyers Mortgage Brokerage Inventory 363

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

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

JANUARY 12, 2023

The housing inventory shortage dominated much of the conversation surrounding the housing market in 2022, but thanks to softening homebuyer demand, the number of active listings finished the year up 54.7% Despite this sizable yearly increase, active housing inventory was down 33.4% compared to December 2019 and 38.2%

Inventory 518

Inventory Buyers New Listings Sellers 518

Housing Wire

MARCH 27, 2024

Earlier this month, the NAR announced the settlement of various lawsuits filed by home sellers, which allege that the real estate industry colluded to keep agent commissions artificially high at 5% to 6% of a home’s sale price. Concerns over the existing VA policies have been echoed among mortgage professionals.

Buyers 440

Buyers Real Estate Agent Inventory Real Estate 440

Housing Wire

OCTOBER 11, 2022

There’s a showdown at the housing market corral between homebuyers and sellers. Inventory, which has been falling for years, broke to all-time lows in 2020. We didn’t have a seasonal push in inventory in 2020, and things worsened in 2021. Image by Brandon Johnson/HW Media.). million active listings, but at just 1.28

Sellers 498

Sellers Inventory Housing Market New Listings 498

Housing Wire

APRIL 6, 2022

Nearly 65% of homeowners planning to sell this year expect to list by the end of summer, which should provide a much-needed influx of inventory that should slow the explosive home price growth seen during the pandemic, according to a Realtor.com survey of prospective sellers.

Inventory 471

Inventory Sellers Buyers Marketing 471

Housing Wire

MAY 14, 2024

“Most of the demand is coming from first-time buyers,” Trevor Levin, a local agent with Los Angeles-based Nourmand & Associates , said. Nationwide, the share of buyers who are first-time buyers has risen in recent months. Nationwide, the share of buyers who are first-time buyers has risen in recent months.

Buyers 359

Buyers Inventory Landlords Real Estate 359

Housing Wire

AUGUST 21, 2023

Mortgage rates only kept climbing in the last week. Buyers in this real estate market notice these affordability changes, and so we can see in the data fewer home purchase offers, slightly climbing unsold inventory, and slightly more price reductions for the homes that are on the market. Rising rates make more inventory.

Inventory 369

Inventory Contracts Buyers Sellers 369

Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. in August 2022 and marks the highest percentage since October 2022, when mortgage rates surpassed 7% for the first time in two decades. That rate is up from 14.3% That rate is up from 14.3% The median U.S.

Buyers 390

Buyers Mortgage New Listings Real Estate Agent 390

Housing Wire

MARCH 7, 2024

Home sellers looking to maximize their sale price may want to avoid the start of the busy spring buying season and list their properties closer to the midpoint of the year, according to a Zillow analysis released Thursday. Zillow posits that this shift is driven by higher mortgage rates in the post-pandemic era.

Sellers 374

Sellers Buyers Real Estate Inventory 374

Housing Wire

AUGUST 22, 2023

“Home sellers are buyers” — this is a phrase that I have been using in my economic work to explain the reality of the housing market recently. So, when home prices and mortgage rates rise so quickly, some sellers won’t list , which means they’re not buying either. Unsold inventory sits at a 3.3-month

Sellers 352

Sellers Marketing Inventory Housing Market 352

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 18, 2023

Like its competitors, Tennessee-based First Community Mortgage, Inc. (FCM) FCM) reduced the company’s size through 2022 amid a tough mortgage market. “There is certainly optimism in the air as mortgage applications have started to pick up on,” Keith Canter, CEO at First Community Mortgage, said.

Inventory 433

Inventory Mortgage Retail Training 433

Housing Wire

MARCH 20, 2024

Those too young to remember the wild west of real estate believe that real estate commissions have always been evenly split between seller’s and buyer’s agents, with each receiving a portion of the sale price. This misconception obscures the reality that, historically, buyers lacked formal representation.

Real Estate 471

Real Estate Buyers Agents Sellers 471

Housing Wire

MAY 3, 2024

No matter where you are in the Tar Heel State, real estate professionals across North Carolina are frustrated by the lack of housing inventory. The challenge remains lack of inventory — that’s definitely the big one,” said Alison Alston , the broker-owner of Charlotte-based Lodestone Real Estate and Investments. “We being outbound. “We

Inventory 290

Inventory Housing Market Marketing Real Estate 290