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Housing inventory falls under 1M again as sales collapse

Housing Wire

On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. million in January down to about 4 million in December, We now have total inventory levels near all-time lows again. During that period, we saw new listing data decline.

Inventory 540
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Why purchase application data is below 2008 levels

Housing Wire

Inventory levels broke to all-time lows and thus created massive housing inflation quickly, which broke my model. This time around, we have not seen the kind of housing credit boom that we did from 2002-2005. New listing data is down 5% year to date, as you can imagine. nominal per year at most.

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Why home-price growth is still up 18% year over year

Housing Wire

While the growth rate is cooling monthly, we are still in a savagely unhhealthy housing market trying to get national inventory levels back to pre-COVID-19 levels. From the index : I know it seems strange, but existing home sales are falling, and the monthly supply of new homes is at 10.9 Housing inventory issue with no booming demand.

Inventory 382
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Existing home sales data shows extent of housing inflation

Housing Wire

Existing home sales have more legs to go lower, especially now that new listing data is falling. A traditional primary resident seller is also a buyer, which means if they don’t list, they’re not just taking a potential home to be bought off the table — they’re taking a future sale off the books as well. million to 1.28

Inventory 447
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Lower mortgage rates are stabilizing the housing market

Housing Wire

As you can see from the chart above, the last several years have not had the FOMO (fear of missing out) housing credit boom we saw from 2002-2005. Since they were distressed forced sellers, inventory skyrocketed in 2006 and stayed very elevated in 2007 and 2008. Total inventory levels. NAR: Total Inventory levels 1.22

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New Hampshire 2023 Year in Review

Lamacchia Realty

The real estate landscape witnessed significant developments in 2023, as the New Hampshire market saw a historic low in listings. This scarcity in inventory exerted upward pressure on prices, although it coincided with a 19% decline in sales. Lowest number homes listed in recorded history, decreased by 15.1%

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November Housing Update

Will Springer Realtor

The housing market in and around King County was moving along swimmingly at the start of 2022, with homes selling briskly and buyers taking advantage of interest rates in the 3s. Among all home types in King, new listings have fallen 26% in the past month and existing homes for sale at the start of November were down 8.1%