article thumbnail

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. In 2007, for context, we were a tad above 4 million. Why is this so important to me?

article thumbnail

Existing home sales lay the path for the 2024 housing market

Housing Wire

Did today’s existing home sales report give us a playbook for housing in 2024? I would argue yes, and the housing market today looks a lot like what we saw in late 2022. I give more details in this interview on why I believe the housing market dynamics shifted on Nov. So, let’s not make that mistake in 2024.

Insiders

Sign Up for our Newsletter

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

article thumbnail

This savagely unhealthy housing market needs higher rates

Housing Wire

million , with double-digit home-price growth driving a housing market that is still savagely unhealthy. This is something that I said would change the tone of housing, and we are seeing that result this year as sales decline and inventory picks up. We are not taking the unhealthy housing market theme off this marketplace.

article thumbnail

Opinion: How GSE reform could create a healthier housing market?

Housing Wire

Without a national market, local supply and demand for mortgages could become unbalanced. The mortgage markets of 2007 and 2020 remind us that there is no durable mortgage market without federal backing (including the banking system). mortgage guarantor and securities markets, so it’s best to avoid strictly privatizing.

article thumbnail

ATTOM: 2023 Not a Good Year for Home Flipping

Appraisal Buzz

The report further reveals that as the number of homes flipped by investors declined, so did flips as a portion of all home sales, from 8.6% in 2021, hitting the worst level since 2007. “In Whether the overall market has soared or seen just modest gains in recent years, investors have missed out on the action.”

article thumbnail

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

Housing Wire

This is a byproduct of the qualified mortgage rule of 2010, which has been a game-changer not only for the housing market but for the overall U.S. million active listings per the last report, we have 526,000 per our last Housing Market Tracker article. million, and in 2007, it peaked at 4 million. million in March.

Inventory 472
article thumbnail

What would it take to crash the housing market?

Housing Wire

One of the reasons that I moved into the “team higher mortgage rate” camp is that what I saw in January, February, and March of this year was so unhealthy that I labeled the housing market savagely unhealthy. million — once that happens, I can take the unhealthy label off the housing market.