Housing Wire

MARCH 29, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. months for the new home sales market.

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Housing Wire

SEPTEMBER 14, 2023

Over one-third (34%) of prospective buyers have yet to purchase a home because there are not enough homes for sale in their budget, according to a new survey from the National Association of Realtors. The Realtor survey was sent out in late July to 55,751 randomly-selected residential Realtors.

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Housing Wire

JULY 22, 2021

million, according to the National Association of Realtors. You can thank a rise in housing inventory for the gains. million in June 2020 as housing inventory has slowly improved in recent months. Total housing inventory at the end of June amounted to 1.25 from May’s inventory and down 18.8% Sales climbed 22.9%

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Housing Wire

NOVEMBER 10, 2022

David Meyer is thankful that his business is still plugging along during the wildest housing market in decades. The number of renters who can even afford to buy a home at the national median list price of $425,000 compared to a year ago is down 15%, according to the National Association of Realtors. . Nadia Evangelou, economist at NAR.

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Housing Wire

JULY 15, 2021

The National Association of Home Builders (NAHB) is joining the National Association of Realtors (NAR) in its bid to rectify the tremendous housing shortage in the U.S. Over the past decade, the residential construction industry has underbuilt and not kept pace with demand due to several supply-side constraints,” said Howard.

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Housing Wire

APRIL 18, 2024

million in February, according to a report released Thursday by the National Association of Realtors (NAR). There are nearly six million more jobs now compared to pre-COVID highs, which suggests more aspiring home buyers exist in the market.” The inventory of existing homes has been steadily increasing, despite elevated mortgage rates.

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Housing Wire

DECEMBER 29, 2023

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. Let’s look at the new construction forecast for 2024. million new single-family construction units in 2024.

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Housing Wire

JULY 20, 2021

year over year, suggesting a slowdown in the housing market, according to a recent report from the Mortgage Bankers Association. “Last year was the strongest year in the housing market for new home sales in over a decade,” he said. With lumber prices recently pulling back, we expect some near-term strength in construction.

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Housing Wire

NOVEMBER 30, 2023

in October on a month-over-month basis, according to data released Thursday by the National Association of Realtors (NAR). Historically high rates harmed the housing market in October Annualized existing home sales remained below 4 million in October, the lowest rate since 2010. down from 72.6 in September. New home sales fell 5.6%

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Housing Wire

MARCH 6, 2024

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday.

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Housing Wire

JANUARY 19, 2024

Existing home sales dropped to their lowest level in nearly 30 years in 2023, according to a report from the National Association of Realtors (NAR), released Friday. Prospective homebuyers have been shut out of the market by a lack of inventory. Compared to a month ago, housing inventory was down 11.5% In 2023, 4.09

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Housing Wire

MAY 16, 2024

As homebuyers continue to grapple with a lack of existing homes for sale, the market for new homes continues to see strong demand, and some areas of the country — including Sun Belt states — are producing new homes at a relatively rapid rate. was $335,170, compared to $414,990 for new construction homes.” SmartAsset noted that U.S.

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Housing Wire

JANUARY 26, 2024

month over month in December, according to the newest data from the National Association of Realtors (NAR). 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. Pending home sales rose 8.3% in November.

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Housing Wire

DECEMBER 3, 2020

1 midsized housing market to watch in 2020 , according to Zillow, because of its draw for young professionals, families, and retirees alike. The demand is clear — the Boise housing market has just 0.3 months worth of supply, according to Keller Williams Realty Boise , and homes typically stay on the market for just five days.

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Marketing Realty Realtors Housing Market 531

Housing Wire

JUNE 16, 2021

The National Association of Realtors says the current state of the housing market is absolutely “dire,” the consequence of a housing shortage 30 years in the making. According to the lobbying group, construction of long-term housing fell 5.5 In fact, coming off the Great Recession, new home construction in the U.S.

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Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher, VRM Mortgage Services HW: What does the current market and demand for REO assets look like? Balancing supply and demand is a delicate dance between new construction and existing properties. Presently, the demand for existing homes outpaces the available supply, raising potential concerns for both sellers and buyers.

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Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). In 2023, new-home sales are up 5% year to date, Yun said.

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Housing Wire

SEPTEMBER 22, 2022

Economists at Fannie Mae say the Federal Reserve ‘s fiscal policy is having its desired effect on the housing market – home price growth began to slow in the summer, and the GSE says the housing slowdown will continue through 2023. The mortgage market is projected to slip further to $2.17 trillion in 2022.

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Housing Wire

OCTOBER 26, 2023

in September despite significant affordability hurdles weighing on the market, according to data released Thursday by the National Association of Realtors (NAR). Furthermore, inventory remains tight, which hinders sales but keeps home prices elevated.” Pending home sales ticked up 1.1% in September. increase in September.

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Housing Wire

NOVEMBER 18, 2020

Real estate agents across the country have made it clear – low inventory and low mortgage rates have kept them busy throughout the pandemic, especially in typical vacation destinations. That trend is holding true for the housing market in Hawaii, located about 2,500 miles west of the mainland. year over year on the big island, Hawaii.

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Housing Wire

APRIL 14, 2023

This article is part of our 2023 Housing Market Forecast series. The monthly Realtors Confidence Index is an essential measure of what real estate professionals are seeing in their local markets and how the market is evolving on a monthly basis. One such measure is who is entering the market.

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Housing Wire

JUNE 21, 2021

Many are eyeing scenic East Tennessee, where Knoxville and its surrounding suburbs have formed one the country’s hottest housing markets. Currently on Realtor.com , more than 2,000 homes are currently on the market in Knoxville with an average listing price of $270,000. year-over-year. year-over-year. Presented by: Radian.

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Housing Wire

DECEMBER 10, 2020

The Des Moines housing market has had a record-setting year for home sales, which local Realtors credit to low mortgage rates, the work from home phenomenon and Des Moines’ affordable lifestyle. Housing inventory in the Des Moines housing market is tight. Over 1,000 properties sold in less than 30 days.

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Housing Market Marketing Realty Realtors 430

Housing Wire

JUNE 29, 2023

After holding steady month over month in April , pending home sales were back down again in May, dropping 2.7%, according to data released Thursday by the National Association of Realtors (NAR). The lack of housing inventory continues to prevent housing demand from being fully realized.” annual drop recorded in April.

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Housing Wire

OCTOBER 22, 2020

million, the National Association of Realtors said in a report on Thursday. That surge in potential buyers, however, may be met with what Yun says is historically low inventory. At the end of September, housing inventory totaled 1.47 from one year ago when inventory sat at 1.82 Compared to a year ago, sales are up 20.9%.

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Housing Wire

JULY 25, 2023

Home prices showed resilience in May as buyers took advantage of the relatively lower rates during that month, keeping the pressure on available inventory. While slightly lower rates motivated eager buyers to enter the housing market, dwindling home supply meant that this demand kept upward pressure on prices, Jones noted.

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Housing Wire

APRIL 27, 2023

month-over-month decrease, according to data released Thursday by the National Association of Realtors (NAR). The lack of housing inventory is a major constraint to rising sales,” Lawrence Yun , NAR’s chief economist, said in a statement. In the new construction sector , NAR predicts sales to increase 4.5% year over year.

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Inventory Realtors Contracts Construction 395

Housing Wire

APRIL 20, 2023

monthly increase in February , breaking a year long streak of declines, existing home sales were back down again in March, according to a report from the National Association of Realtors (NAR), released Thursday. It’s a unique housing market.” In addition, 65% of homes sold in March were on the market for less than a month.

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Inventory Housing Market Realtors Mortgage 351

Housing Wire

APRIL 29, 2021

The National Association of Realtors released encouraging news Thursday about the future of the housing market. Though homes in contract are not always closed, the index figure is a strong indication that home sales will rebound in the coming months after an inventory-induced decline. What is this index? population.”.

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Contracts Inventory Construction Realtors 414

Housing Wire

JUNE 22, 2023

Existing home sales marginally increased in May , but were still down significantly from a year prior, according to the latest report from the National Association of Realtors (NAR). Total housing inventory recorded at the end of May was 1.08 Unsold inventory is at a 3.0-month Total existing home sales rose 0.2% million in May.

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Inventory Construction Realtors Marketing 337

Housing Wire

MARCH 8, 2024

Though all signs point to a cooling labor market overall, the economy picked up another 275,000 jobs in February. The jobs report on Friday is unlikely to convince the Fed that rate cuts are necessary when the Federal Open Markets Committee meets later this month, economists said. Job openings were essentially unchanged at 8.9

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Housing Wire

DECEMBER 13, 2023

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year. Home starts forecasts, meanwhile, don’t offer much certainty about the pace of construction next year.

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Inventory Construction Mortgage Buyers 457

Birmingham Appraisal

MARCH 26, 2024

A Different Market I think we can all agree that the real estate market we are currently in, as of the writing of this post, is not the same one we were in from 2020 to 2022. The market dynamics have changed namely interest rates. Prices have held steady and even increased in some areas due to limited inventory.

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Housing Wire

JULY 27, 2023

After dropping slightly month over month in May , pending home sales ticked back up in June, rising 0.3%, according to data released Thursday by the National Association of Realtors (NAR). Home prices will be influenced by how much inventory is brought to market. annual drop recorded in May. “It in 2023, to 720,000.

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Construction Inventory Realtors Housing Market 347

Housing Wire

SEPTEMBER 22, 2021

August marked a slowdown in the purchase market, with existing home sales dropping by 2%, according to a monthly report published by the National Association of Realtors. Yun said that the inflated home prices have made “for an unbalanced market, but prices would normalize with more supply.”. million in August, NAR said. .

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Inventory Buyers Realtors Home Value 376

Housing Wire

APRIL 28, 2022

For the fifth consecutive month, pending home sales declined in March from February, down 1.2%, signaling a potential return to “much calmer” conditions, according to the National Association of Realtors. The post A more “normalized” housing market is on the horizon: NAR appeared first on HousingWire.

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Housing Market Marketing Contracts Mortgage 326

Housing Wire

JULY 20, 2023

With elevated mortgage rates sidelining both home buyers and sellers, existing home sales fell in June, according to the latest report from the National Association of Realtors (NAR). The pent-up demand will surely be realized soon, especially if mortgage rates and inventory move favorably.” Meanwhile, unsold inventory sits at a 3.1-month

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