Housing Wire

NOVEMBER 18, 2022

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. As mortgage rates rose more and more, the October to January data was going to show big negative prints.

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Housing Wire

MAY 3, 2024

Thanks to high mortgage rates , mortgage refinance rates, and even higher home prices , the vibe among homebuyers has been fairly bleak these past couple months. Serious buyers showed discernment as they know inventory is growing. To that I say, timing is everything in real estate. With only 1.3

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Housing Wire

APRIL 18, 2024

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. Of course this isn’t the healthiest housing inventory story. million, and in 2007, it peaked at 4 million.

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Housing Wire

DECEMBER 21, 2022

On Wednesday, existing home sales collapsed near the lows we saw during COVID-19 and back in 2007 when the housing bubble burst. In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! Plus, available housing inventory remains near historic lows.” Housing inventory.

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Housing Wire

MAY 2, 2023

And there’s another thing that separates the housing market from other markets — the buyer is often also the seller. In most markets, the seller, or supplier, makes their decision about adding supply to the market independent of the buyer, or source of demand, and their decision to buy. years in March 2023, according to recent data.

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Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. Pressure on demand.

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Housing Wire

JANUARY 25, 2023

in December 2022, its highest level since 2007 and its fastest rise in more than 40 years. Long-term mortgage rates responded by rising from 3.25% in early 2022 to over 7.25% in October 2022, more than doubling. As inflation eases, so will long term mortgage rates. Inventory What does that mean for housing?

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Housing Wire

JANUARY 18, 2023

Builders feel more confident in the market, housing inventory data is positive and buyer demand for mortgages has increased — but don’t be fooled. In addition, the credit rating agency expects mortgage rates to move even higher in 2023 and home prices to decline by up to 5%. “We

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Housing Wire

AUGUST 30, 2022

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. Housing inventory issue with no booming demand. Total Inventory had been growing from 2001-2005; total listings data in 2005 was at the higher historical range of 2.5

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Inventory New Listings Law Housing Market 384

Housing Wire

APRIL 9, 2023

The housing market welcomed the news of lower mortgage rates last week after four reports showed that the labor market isn’t as tight as it seems and that the fear of 1970s-entrenched inflation was a lousy narrative. Active inventory rose by 823 single-family homes and new listing data is trending at all-time lows.

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Housing Wire

APRIL 20, 2023

months’ worth of housing inventory in the U.S. NAR: Total housing inventory registered at the end of March was 980,000 units, up 1.0% Unsold inventory sits at a 2.6-month Total housing inventory, while up year over year, is still near all-time lows, and monthly supply is also up year over year. We only have 2.6

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Listing Spark

JUNE 27, 2023

National Landscape: Indications of a Seller’s Market As detailed in a recent article by Matt Carter published on June 9, 2023, a national sentiment heavily favoring sellers prevails 1. “The housing market has tilted sharply in favor of sellers amid increasing demand and ongoing low housing inventory.”

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Housing Wire

MAY 26, 2022

It’s an excellent time to discuss housing inventory. As the 10-year yield broke above 1.94% and mortgage rates rose, we saw the impact on housing data. How can housing inventory be so low today when it skyrocketed back in 2009? I don’t believe housing inventory below 1.52 The housing market shifted in March of this year.

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Housing Wire

DECEMBER 29, 2022

The housing sector — especially real estate and mortgage — has seen significant layoffs , while the general economy will create more than 4 million jobs in 2022. Then we had the biggest mortgage rate shock in recent history and yet even with that, we will have over 5 million total home sales this year. Housing inventory.

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Lamacchia Realty

OCTOBER 25, 2023

PRICE ADJUSTMENTS AND THE 2023 MARKET In March 2022, it was clear that the market was changing from a frenzied post-pandemic scene to one where it was assumed that rising mortgage rates would slow it down and help inventory finally rise back up. Inventory didn’t increase at the rate most assumed it would. It means they’re down.

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Housing Wire

APRIL 23, 2024

Three of the biggest topics in housing right now are mortgage rate movements tied to Federal Reserve policymaking, the day-to-day moves in key housing data and forward-looking trends for the housing market. So, if all of you are looking for a sustained lower move in mortgage rates, that’s what you’re going to see.”

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Housing Wire

JANUARY 27, 2023

On the other hand, mortgage rates have gone down more than 1% since Oct. The builders’ stock prices have done well as mortgage rates have fallen , and this illustrates the simplicity of the homebuilders’ position: their story is really about mortgage rates and moving products. months of supply. But since Oct.

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Lamacchia Realty

JUNE 21, 2022

In early March it was becoming clear that the market was changing from a frenzied post-pandemic scene to one where rising mortgage rates would slow it down and help inventory finally rise back up. Rising prices weren’t favorable but with historically low mortgage rates , they were still affordable for buyers.

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Listing Spark

JUNE 16, 2023

.” [00:04:36] Austin real estate sales volume and velocity in April 2023 Austin’s housing market in April saw a decline in new listings and sales volume, but the market remains a seller’s market. However, a decrease in new listings is helping to stave off even higher inventory. months of inventory available.

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Lamacchia Realty

AUGUST 3, 2021

Inventory is still very tight despite a slight increase, and as you can see in the chart below from our Massachusetts Updates page , the percentage of homes placed under agreement out of total inventory is still higher than it ever has been but its noticeably lower than it was in the first six months of the year.

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Housing Wire

MAY 23, 2023

Last year, sale levels were meager and once mortgage rates fell and the builders were buying down rates to get more homes sold, the data stabilized and moved higher slowly. This is different from the 2007 housing market when the builders’ sales were still collapsing and monthly supply spiked with rising cancellation rates.

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Housing Wire

FEBRUARY 16, 2023

The truth is that if mortgage rates fell below 5.875% and kept going lower, everyone’s housing predictions would need to be revised this year because the builders can sell their homes with lower mortgage rates. economy isn’t in recession today, and mortgage rates have risen almost 1% from the recent lows.

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Housing Wire

DECEMBER 20, 2023

However, this time around, the Federal Reserve rate hike cycle is over, and we don’t need to worry about Fed presidents going on CNBC in 2024 crying about 6% mortgage rates making their lives difficult. In 2023, we had one big bounce in sales and then sales trended lower all year long as mortgage rates went from 6% to 8%.

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Housing Wire

JUNE 27, 2023

They’re effective sellers and don’t want to create a backlog of completed units for sale because that would ruin their business model. In 2007, we had more than 4 million total active listings, which was too much supply for the builders to compete effectively. Now on to the report. This represents a supply of 6.7

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Housing Wire

AUGUST 1, 2023

Even as mortgage rates rose, and affordability was pushed out of reach for many potential homebuyers, there are still sufficient buyers who can afford these prices and these rates. After the mortgage rate spike in September 2022, we got significantly more bearish on home prices for 2023. If mortgage rates increase to the 7.5%

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Housing Wire

JULY 19, 2023

The builders are making money, not building homes to address the housing inventory shortage. From NAR data: 2007 total active listings: 4 million 2023 total active listings: 1.08 So the builders went to work making deals — they’re very efficient sellers. Even today, we are near multi-decade lows.

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Appraisal Today

AUGUST 5, 2022

My comments : The big push to cut down on appraisal turn times because of the appraisal shortage is Very Old News since mortgage volume has plummeted. NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, real estate market, unusual homes, mortgage origination stats, etc.

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Lamacchia Realty

MARCH 26, 2024

As you can see in the chart below, Florida has the highest shift in rising inventory over the past twelve months. Source Condo inventory has been rising more than single families as sales have been decreasing since 2023. Source Inventory rises when more sellers are listing than buyers are buying.

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Houston Properties

JANUARY 13, 2021

Avoid 9 Costly Mistakes Sellers Make. Today's monthly payments on a $500,000 mortgage are about the same as a $210,000 mortgage from the mid-1990s or a $300,000 mortgage from 2007. In addition, mortgage rates are at an all-time low. 2020 ended favoring sellers. Do You Want To Buy A Home Now?

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Housing Wire

APRIL 5, 2021

In its most recent annual report to Congress, November 2020, the Federal Housing Administration ( FHA ) published its “capital ratio,” a measure of capital reserves to insurance-in-force held within the Mutual Mortgage Insurance Fund (MMI Fund). By way of example, seller-funded down payment loans prevalent in the early 2000s had a $16.5

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Birmingham Appraisal

JANUARY 11, 2023

From record-high sale prices to record-low inventory, the market has shown us that just when we think we know what will happen it will show us something different. The higher rates resulted in larger mortgage payments which took many buyers out of the market. The volume reminds me of what we saw in 2007-2008 during the recession.

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Lamacchia Realty

APRIL 15, 2022

Rates dropped to historic lows to keep buyers buying, prompting an influx of new applications and re-finances as obtaining a mortgage was more affordable than ever. Sellers kept listing, albeit, at a much slower pace, and buyers were buying at the highest rate in over 15 years, absorbing inventory faster than ever.

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Assurance Financial

NOVEMBER 9, 2021

The key to getting the best possible value for your money is understanding what’s happening in your local real estate market — whether you’re a buyer or a seller. What’s the Difference Between a Buyer’s and Seller’s Market? Buyer’s vs. seller’s markets are a matter of supply and demand.

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Will Springer Realtor

MAY 9, 2023

Falling new inventory is constraining transaction volumes while also supporting higher home prices. It’s a dynamic not often seen in our area and it – along with stubbornly high mortgage interest rates – has generated a rollercoaster ride of data that would make Six Flags jealous. Where are all the sellers? average one year ago.

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Will Springer Realtor

DECEMBER 8, 2021

housing starts, when builders break ground and lay a foundation, are forecast to finish this year at 1.04M single-family homes, the first time since 2007 the figure will exceed a million. Who said this is a sellers’ market? A modicum of relief is on the way. Economists forecast housing starts will rise a promising 5% in 2022.

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Housing Wire

MAY 30, 2023

Inventory is still near record lows The easiest economic discussion right now is the housing inventory story in the U.S. People claim inventory isn’t low because “shadow inventory” is on the verge of adding millions of homes into the marketplace any second now. and that it’s historically low.

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Will Springer Realtor

OCTOBER 10, 2023

The combination of rising mortgage rates through the year and increasing home prices this spring and summer helped to push the typical portion of average wages nationwide required for major homeownership expenses up to 35%, according to a Q3 report. The increase in homes on the market also tells us overall inventory is rising.

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