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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 538
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Existing home sales data shows extent of housing inflation

Housing Wire

From NAR Research : “Total existing-home sales notched a minor contraction of 0.4% Existing home sales have more legs to go lower, especially now that new listing data is falling. Total Inventory data fell in this report from 1.31 It doesn’t even look like we will breach the lower level of my inventory wish list of 1.52

Inventory 449
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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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FED’S ACTIONS TAKE STEAM OUT OF HOUSING MARKET

Will Springer Realtor

We are now seeing “7s” in front of some rates to new mortgage consumers – a figure not seen since April 2002 – causing applications for new loans to hit a 25-year low this month. ( Counties in and near Chicago and New York City were seen as the most vulnerable to today’s economic headwinds. months’ inventory.