Remove 2006 Remove Mortgage Remove New Listings Remove Sellers
article thumbnail

How housing credit is shaping housing inventory

Housing Wire

After 2010, qualified mortgage laws were in place, meaning everyone getting a mortgage has to be able to repay the loan. You can see the drastic change this made in the Mortgage Bankers Association Credit Availability index , below, which skyrocketed in 2005 and 2006 before an epic collapse in 2008.

Inventory 449
article thumbnail

Lower mortgage rates are stabilizing the housing market

Housing Wire

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? However, mortgage rates have fallen more than 1% since the recent highs, so it’s time to look at the data to explain how to interpret it.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Opinion: The end of seller speculation in US housing market

Housing Wire

metropolitan areas in February 2022, based on year-over-year growth in median listing price according to the residential real estate listing website, Realtor.com. The table also reports the year-over-year percent change in new listings for each market. Table 1, below, reports the 10 hottest U.S. Bellingham, WA 51.7% -8.3%

article thumbnail

Have we found the bottom in existing home sales?

Housing Wire

. “The principal factor was the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. ” One of the housing economic realities that I have been trying to stress this year is that a traditional seller of a home is typically a buyer as well.

Inventory 521
article thumbnail

Housing inventory falls under 1M again as sales collapse

Housing Wire

The one period where this didn’t happen was from 2006-2011, when credit forced Americans to sell, to rent or to be homeless. 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. The days on market were too low.

Inventory 540
article thumbnail

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

Housing Wire

I don’t need to see total active listing get back to the historical range of 2-2.5 New listings are declining now. One of the issues with existing home inventory has been that, for the most part, a traditional seller is usually a buyer of a home. This is not encouraging news at all, in my view. From Redfin.

Inventory 382
article thumbnail

The standoff between homebuyers and sellers

Housing Wire

There’s a showdown at the housing market corral between homebuyers and sellers. To top it all off, we started 2022 at all-time lows, forcing bidding action everywhere until mortgage rates rose. And we aren’t talking about your grandfather’s mortgage rates rising; we went from 2.5% Image by Brandon Johnson/HW Media.).

Sellers 498