Housing Wire

MAY 28, 2024

There are more homes on the market now than anytime since August 2020. New listings climbed during the past week and there are now 72,000 more single-family homes on the market. It appeared that new listings might be on the decline already, but the pace picked up a tad this week, which is encouraging.

Inventory 511

Inventory New Listings Contracts Sellers 511

Housing Wire

FEBRUARY 20, 2024

Mortgage rates are back over 7%. The housing market data has been changing very rapidly this year. The economy has continued to be strong, so mortgage rates have defied expectations and remained very high. New listings rise New listings continue to show us that more sellers are interested in this market this year.

Mortgage 481

Mortgage Inventory Sellers New Listings 481

Housing Wire

SEPTEMBER 19, 2023

It’s not unusual for a little jump in new listings in September. Obviously, mortgage rates have been stubbornly over 7% for a couple of months. That’s a change in expectation of mortgage rates. Buyers early in 2023 had slightly lower rates than now and were optimistic that mortgage rates would go lower still.

Housing Market 405

Housing Market Marketing Inventory New Listings 405

Housing Wire

OCTOBER 31, 2023

We may be nearing the bottom in home sales even if mortgage rates don’t decline. As a result, there may be a light at the end of the tunnel in this crazy market cycle. 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. Don’t have time?

New Listings 466

New Listings Inventory Contracts Housing Market 466

Housing Wire

MAY 4, 2023

On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. All major housing market metrics point to a restrained housing market. Sales and new pending contracts are below pre-pandemic levels. Mortgage rate fatigue.

Housing Market 387

Housing Market Marketing Inventory Buyers 387

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? Some argue that money will go into the safety of the bond market, while others say a wider war can lead to higher inflation and higher rates.

Inventory 422

Inventory Mortgage New Listings Retail 422

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. Our immediate sales metric of homes that get offers within a couple days of listing also slowed. There were just 1.4%

Real Estate 387

Real Estate New Listings Contracts Inventory 387

Housing Wire

APRIL 1, 2024

As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. But now sellers are coming back into the market. New listing volume last week was 18% more than a year ago. That brings us to 367,000 single-family homes in the contract pending stage.

Inventory 457

Inventory New Listings Contracts Sellers 457

Housing Wire

APRIL 15, 2024

We saw a big jump in mortgage rates last week. The 30-year fixed rate mortgage, according to the HousingWire Mortgage Rates Center , is now over 7.2% — that’s 50 basis points above where we were at the start of the year. At that time, most of the voices in the media assumed that mortgage rates had peaked and would fall by now.

Inventory 373

Inventory Mortgage New Listings Sellers 373

Housing Wire

MAY 13, 2024

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. All in all, you can see how effectively 7% mortgage rates have slowed the housing market. Higher rates allow unsold homes to accumulate on the market.

New Listings 402

New Listings Contracts Inventory Sellers 402

Housing Wire

OCTOBER 10, 2023

The same trends in the housing market in recent weeks are still dominant this week. Mortgage rates continue to climb. It’s not uncommon to hear rates quoted over 8% for a 30-year fixed mortgage. To find out more of my weekly housing market insights backed by Altos Research data, watch the video above.

Mortgage 391

Mortgage Inventory Contracts Sellers 391

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. housing market for the week of April 22.

Inventory 474

Inventory New Listings Sellers Contracts 474

Housing Wire

MAY 22, 2024

So, unless mortgage rates drop fast and demand picks up, inventory should have an average year of growth before the seasonal decline. We have had two times recently when mortgage rates dropped more than 1%. I love that new listings data is growing yearly, but it’s been too light for me. This isn’t the case in 2024.

Inventory 449

Inventory New Listings Housing Market Contracts 449

Housing Wire

NOVEMBER 27, 2023

You also know that new listings are up over last year, too. Watch the video above to get the latest housing market update from Altos Research. Inventory hit 566,000 homes on the market, meaning there are 0.5% New listings volume is up, too. A few more sellers appear to be braving the market each week.

New Listings 479

New Listings Contracts Inventory Housing Market 479

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. But new listings activity grew by 9.1%

Contracts 445

Contracts Housing Market Construction Inventory 445

Housing Wire

FEBRUARY 5, 2024

Mortgage rates are back up over 7% this morning on the back of strong economic growth data. When the economy and job growth are stronger than expected, the bond market assumes that fewer rate cuts are coming. The 10-year bond yield jumped back over 4% and that pushes mortgage rates higher too. Lower rates equals lower inventory.

Mortgage 403

Mortgage Inventory Sellers New Listings 403

Housing Wire

MARCH 25, 2024

Mortgage rates seem to have finally settled down. The Fed met last week and we escaped dramatic changes in the markets. I was worried that we might come out of that meeting with a spike in mortgage rates but that didn’t materialize so we got lucky. We currently have 24% more homes on the market than a year ago.

New Listings 479

New Listings Inventory Contracts Sellers 479

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. The most important data line for me, along with mortgage rates , is jobless claims data because I value labor data over inflation.

Mortgage 445

Mortgage Inventory New Listings Housing Market 445

Housing Wire

APRIL 29, 2024

The weekly volume of new listings is now higher than at anytime last year. It’s still April, so there could be as many as eight more weeks of seller growth in the spring housing market. Mortgage rates are at 7.5% Mortgage rates are now topping 7.5%, the highest levels seen this year. orate further?

Sellers 462

Sellers Marketing Inventory Contracts 462

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. So demand isn’t increasing.

Inventory 441

Inventory Contracts New Listings Sellers 441

Housing Wire

JANUARY 8, 2024

These are very clear trends as we start the new year. 2023 started with recovery, but slowed down in Q3 as mortgage rates hit 8%. Could the housing market change and slow again in 2024? I’ve pointed out that consumers are more sensitive to changes in mortgage rates than to the absolute levels.

Real Estate 487

Real Estate Marketing Inventory New Listings 487

Housing Wire

JULY 25, 2022

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. Overall, annual mortgage origination levels are expected to be $2.8

Housing Market 393

Housing Market Marketing Supply Chain Real Estate 393

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

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. They climbed starting Jan. The takeaway?

Inventory 384

Inventory New Listings Sellers Contracts 384

Housing Wire

AUGUST 14, 2023

Mortgage rates have been stubbornly above 7% for two months and it sure looks like home buyers are growing weary. It was mid-June when it looked like mortgage rates might continue to ease down but then the opposite happened. Now, that extra little boost of demand seems to be gone from the housing market.

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Housing Market Inventory Marketing Buyers 345

Housing Wire

OCTOBER 24, 2023

The short answer is that while homebuyer demand is indeed low, new supply remains very low, too. For home prices to adjust significantly, we need an imbalance of supply versus demand, and this market is surprisingly balanced. To get the weekly picture about the housing market, watch the video above. Don’t have time?

Contracts 457

Contracts Inventory New Listings Housing Market 457

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. of homes that went under contract that month, according to a new report from Redfin. The average interest rate on a 30-year-fixed mortgage was 7.07% in August. That rate is up from 14.3%

Buyers 390

Buyers Mortgage New Listings Real Estate Agent 390

Housing Wire

JANUARY 19, 2023

While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. Housing markets continued to weaken, with sales and construction declining across [all 12 Federal Reserve] districts,” according to the Federal Reserve Beige Book released on Wednesday.

Inventory 375

Inventory Housing Market Marketing Construction 375

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.

Mortgage 346

Mortgage Real Estate Inventory Construction 346

Housing Wire

JANUARY 16, 2024

real estate housing market signals have been gradually building for a couple of months. Home sellers are starting to ease back into the market, new listings are finally exceeding the levels of a year ago. As a result, we’re starting to see slightly more available supply of homes on the market.

Inventory 419

Inventory New Listings Sellers Contracts 419

Housing Wire

MAY 20, 2024

So inventory is growing everywhere and will continue to grow as long as mortgage rates stay elevated. It’s also why inventory could compress in the second half of the year if mortgage rates finally fall back into the 6s. New listings New listings appear to have peaked for the year three weeks ago.

Inventory 392

Inventory New Listings Sellers Contracts 392

Housing Wire

SEPTEMBER 26, 2023

This is a demand-driven slowdown, because new listings supply is still running 9% to 10% fewer homes for sale each week than this time last year. We’re seeing fewer new sellers each week, but inventory is building as homebuyers wait to see if mortgage rates will come down to make purchases more affordable.

Inventory 481

Inventory Contracts New Listings Mortgage 481

Housing Wire

APRIL 26, 2023

Higher mortgage rates did not scare away potential homeowners last week. Plenty of buyers, but not enough homes for sale,” California-based mortgage loan officer Dan Stone, who works with hundreds of mortgage lenders, told HousingWire. The latest Mortgage Bankers Association (MBA) report confirms Stone’s perceptions.

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Mortgage Loan Officers New Listings Government 383

Housing Wire

OCTOBER 28, 2022

An index of 100 is equal to the level of contract activity in 2001. Persistent inflation has proven quite harmful to the housing market,” Lawrence Yun, NAR’s chief economist, said in a statement. Yun noted that new listings are down compared to a year ago, as many existing homeowners do not want to give up the 3.0%

Contracts 508

Contracts New Listings Realtors Housing Market 508

Housing Wire

JANUARY 20, 2023

housing market , we just experienced an event that most people never thought could happen. From NAR : “December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates ,” said NAR Chief Economist Lawrence Yun. During that period, we saw new listing data decline.

Inventory 536

Inventory Housing Market New Listings Marketing 536

Housing Wire

MARCH 11, 2024

Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The only way inventory would grow in 2024 is if mortgage rates climbed. But the evidence is the opposite.

Inventory 499

Inventory New Listings Sellers Real Estate 499

Housing Wire

FEBRUARY 26, 2024

Price reductions ticked up this week for the first time since November in the face of rising mortgage rates. We can see the impact of higher mortgage rates slowing homebuyer demand. Now, mortgage rates are 100 basis points higher. The housing market data has been changing very rapidly this year.

Sellers 401

Sellers Inventory New Listings Contracts 401