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Why purchase application data is below 2008 levels

Housing Wire

But I need to explain why this level has more in common with 2014 housing data than the credit stress markets of 2005-2008, and why you should care. With the massive housing inflation since 2020 and higher mortgage rates, we are back to familiar territory with existing home sales and purchase application data: we are back to 2014 levels.

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Are we seeing a mortgage rate lockdown?

Housing Wire

Typically we have a natural set of new listings each year; inventory rises in the spring and summer and then falls in the fall and winter. It wasn’t the rate move that caught my attention — it was the new listing data. As you can see below, that sharp move to 6.25% caused new listing data to stall at first.

Mortgage 520
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Can lower mortgage rates stop the housing recession?

Housing Wire

People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% We saw this in 2013-2014 and 2018-2019. They have to move as well, so a traditional seller is a buyer most of the time when it’s a primary resident owner. We see some of this in the active listing data as new listings are declining.

Mortgage 504
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Why home-price growth is still up 18% year over year

Housing Wire

Today, we stand at 1,310,000 active listings. NAR Total Listing Data: If we cut the timeline to the last time inventory grew, which was 2014, you can see this downtrend in inventory, unlike 2001-2005, when inventory grew from 2 million to 2.5 I don’t need to see total active listing get back to the historical range of 2-2.5

Inventory 384
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The standoff between homebuyers and sellers

Housing Wire

There’s a showdown at the housing market corral between homebuyers and sellers. million active listings, but at just 1.28 Home prices ebb and flow, pricing was working in the sense that sellers met homebuyers to a degree. The last time total inventory grew was in 2014 because we had weak demand. million today.

Sellers 504
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Spring forecast: More inventory and rising home sales

Housing Wire

At the same time, seller volume dried up. But now sellers are coming back into the market. New listing volume last week was 18% more than a year ago. NAR reported 33% all cash buyers, which is the most since 2014 when buyers were still cleaning up distressed properties. is $439,900.

Inventory 466
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Is The Real Estate Market Shifting?

Birmingham Appraisal

The first is that sales could be slowing down while new listings continue to enter the market. The net effect would be an increase in the listing count. The second reason could be that sales are continuing at a normal rate and there is an abnormal spike in new listings. The trend ins Shelby county is similar.