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Is the savagely unhealthy housing market back?

Housing Wire

Just when I thought days on market were returning to normal, that number for existing homes fell back down to 22 days. If the days on the market are at a teenager level or even lower, it’s never a good sign for the housing market. If we had a massive credit boom-to-bust, inventory would have skyrocketed in 2022.

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This savagely unhealthy housing market needs higher rates

Housing Wire

The National Association of Realtors reported Thursday that existing home sales for April came in at 5.61 million , with double-digit home-price growth driving a housing market that is still savagely unhealthy. The real story in housing has been the price boom that we have seen since 2020. Inventory is always seasonal.

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Days on market grow despite low inventory for existing homes

Housing Wire

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. The Federal Reserve wanted to see the bidding wars end and the days on the market grow.

Inventory 473
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Even with falling rates, the housing market is shaping up to be bad in Q4

Housing Wire

That’s the largest year over year existing home sales decrease since 2007. More potential homebuyers were squeezed out from qualifying for a mortgage in October as mortgage rates climbed higher,” National Association of Realtors Chief Economist Lawrence Yun said in a statement. Total housing inventory at the end of October was 1.22

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Why are existing home prices rising when sales are still so low?

Housing Wire

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. From NAR : The median existing home price for all housing types in March was $393,500, an increase of 4.8% All four U.S.

Inventory 490
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Lincoln slog: Why home prices don’t rise in Springfield

Housing Wire

Barack Obama uttered those words on the footsteps of the Illinois state capitol in 2007 – a speech where the former Illinois state senator declared his candidacy for president. median home price of $207,000. Springfield was the only one of those 183 to see a year-over-year home sale price decline. This content is exclusively for HW+ members.

Realtors 371
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HW+ Member Spotlight: Reina Ramos

Housing Wire

Reina Ramos: I don’t have a favorite article but rather enjoy and appreciate the coverage HW provides on all subject matters that are affecting the mortgage industry as well as Realtors. HousingWire: What do you think will be t he big themes for the housing market in 2022? HousingWire : What keeps you up at night and why?

Inventory 384