Remove 2008 Remove Construction Remove Contracts Remove New Listings
article thumbnail

The homebuilders got lucky this time

Housing Wire

There is one simple reason for this: it’s not 2008. However, the glaring difference today versus the recession of 2008, is that in 2007 the builders had to deal with over 4 million active listings as competition for their pricey new homes. Here’s the breakout: 71,000 new homes have been completed: 1.4

article thumbnail

Existing home sales are working from a historic low bar

Housing Wire

It happened in 2008 and then didn’t happen again until 2023. Our housing market tracker counts weekly active single-family listings, those homes that aren’t in the contract, and the raw available number of homes for sale. We have a big difference in the data on single-family permits and 5-unit permits.

Insiders

Sign Up for our Newsletter

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

article thumbnail

High Financing Hurdles Lead to Low Housing Activity in Seattle/King County

Will Springer Realtor

fewer new listings, the rate of sales rose 1.7% Two data points stood out from the latest report by the Northwest Multiple Listing Service: The aforementioned new listings for all homes in the county – 2684 – is at a low not seen for an August since records were shared with brokers (like me) dating back to the mid-1990s.

Finance 68
article thumbnail

King County Housing Market Stumbles to 2022 Finish Line

Will Springer Realtor

The number of new listings for all home types – single-family, townhomes and condos combined – in King (887) fell 47% from November and declined 36% from December 2021. Homes going under contract (Pending sales) dropped 25% from the previous month and by 30% year-on-year (YoY) – staggering drop-offs. Economists across the U.S.

article thumbnail

Will Springer Realtor - Untitled Article

Will Springer Realtor

The number of new listings for all home types – single-family, townhomes and condos combined – in King (887) fell 47% from November and declined 36% from December 2021. Homes going under contract (Pending sales) dropped 25% from the previous month and 30% year-on-year (YoY) – staggering drop-offs.

article thumbnail

Will Springer Realtor - Untitled Article

Will Springer Realtor

Builders are trying to catch up and, according to federal officials , there are more housing units under construction today than at any time in the last 50 years. An annual survey released this month by the Federal Reserve Bank of New York said renters put the probability of ever owning a home at 40%, down from 44% last year.

HOA 36
article thumbnail

Home Prices Rising Toward Record Highs – Again

Will Springer Realtor

The county saw the combined number of single-family, townhome and condo listings increase in June by 4.4% While that percentage may appear strong, it’s nothing compared to the April-to-May rise of 18%, signaling a probable cooling of new listings in the future. New single-family-home listings rose 3.8%