Housing Wire

DECEMBER 30, 2023

Going into 2023, people thought housing inventory would skyrocket, home prices would crash, and we would see the housing market of 2008 all over again. Looking back on 2023, the inventory story was a big surprise even as mortgage rates headed toward 8%, as the data below will show. Weekly inventory change (Dec.

Inventory 515

Inventory New Listings Housing Market Mortgage 515

Housing Wire

FEBRUARY 4, 2024

How will mortgage rates impact seasonal inventory in 2024? In the last four years, we have had abnormal seasonal inventory data, meaning that the spring inventory bottom happens later in the year. This is due to demand rising late in one year, pushing through the early part of the next year and preventing inventory growth.

Inventory 517

Inventory Mortgage New Listings Housing Market 517

Housing Wire

JANUARY 13, 2024

Last week, housing inventory grew and the number of price cuts fell, which is expected at this time of the year. I hope the next thing we see is housing inventory grow at the level it typically does in January or February instead of being delayed until March or April. So let’s hope for more home sellers in 2024.

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Inventory New Listings Retail Mortgage 533

Housing Wire

APRIL 23, 2023

Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. Still, we have some promising signs that we might have finally hit the inventory bottom for 2023. However, I will take what I can now.

Inventory 545

Inventory Housing Market Marketing New Listings 545

Housing Wire

NOVEMBER 11, 2023

Total housing inventory growth has been slow in 2023, but with rising mortgage rates over the last few months, inventory has grown a bit faster than average. The question now is: Have we hit the seasonal peak in inventory for 2023? Last year, according to Altos Research , the seasonal peak for housing inventory was Oct.

Inventory 491

Inventory New Listings Mortgage Retail 491

Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. Weekly housing inventory data Here is a look at the first week of the year: Weekly inventory change (Jan. 12-19) : Inventory rose from 505,223 to 506,414 Same week last year (Jan.

Inventory 541

Inventory Mortgage New Listings Sellers 541

Housing Wire

OCTOBER 28, 2023

31, 2022, that mortgage rates would hit 8% in 2023, you would reasonably assume housing inventory would sky rocket higher, home prices would fall noticeably, and the number of price cuts would be higher year over year. Last year, the seasonal peak for inventory was Oct. Weekly inventory change (Oct. Weekly inventory change (Oct.

Inventory 508

Inventory Mortgage New Listings Marketing 508

Housing Wire

NOVEMBER 25, 2023

However, the recent drop in housing inventory has more to do with seasonality factors than lower mortgage rates. Higher mortgage rates did push inventory higher during the seasonal period when it would normally be declining. The question now is what will inventory look like in the spring if mortgage rates keep falling?

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Inventory Mortgage New Listings Buyers 536

Housing Wire

APRIL 30, 2023

The spring housing market music is playing, and purchase application data and active listing inventory rose together last week. The fear of not having an increase in inventory this spring should be put to rest. Since 2020, the seasonal inventory bump has happened later than usual — not until March or April.

Inventory 520

Inventory Housing Market Marketing New Listings 520

Housing Wire

FEBRUARY 10, 2024

While weekly inventory is still falling, we have year-over-year growth in total active listing and new listings data. A perfect example was in 2022: when housing inventory rose faster as demand crashed, the percentage of price cuts rose faster. Last week, inventory fell week to week but was up over this time last year.

Inventory 515

Inventory New Listings Retail Mortgage 515

Housing Wire

JULY 9, 2023

The slow zombie crawl of housing inventory went lower last week as inventory was negative week to week. As we can see in the chart below, it’s been so slow that year-over-year inventory is now negative versus 2022. This is truly a savagely unhealthy housing market as we have too many people chasing too few homes.

Inventory 485

Inventory Housing Market Marketing New Listings 485

Housing Wire

SEPTEMBER 10, 2023

Last week we saw a noticeable decline in new listings and active inventory was barely positive. Does this mean housing inventory has begun its seasonal decline? That said, I hope we extend inventory growth longer before the seasonal decline. Here are the numbers, according to Altos Research : Weekly inventory change (Sept.

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Inventory New Listings Retail Mortgage 511

Housing Wire

JUNE 11, 2023

After seeing disappointing inventory growth two weeks ago , which I chalked up to the Memorial Day holiday, I was hoping for a big push in active listings last week, but that didn’t happen. Here’s a quick rundown of the last week: Active inventory grew 6,722 weekly. First, it took the longest time in U.S.

Inventory 517

Inventory Housing Market Marketing New Listings 517

Housing Wire

MAY 7, 2023

Just when I thought it was safe to say we were getting more traditional spring housing inventory , we hit a snag last week, as active inventory and new listings declined. Weekly housing inventory The numbers this week are unfortunate: inventory should be growing like it does at this time every year.

Inventory 491

Inventory Housing Market Marketing New Listings 491

Housing Wire

AUGUST 20, 2023

Last week, mortgage rates hit a 21st-century high, the 10-year yield closed slightly higher than my peak forecast for 2023 , and housing inventory growth was still slow. Weekly housing inventory Mortgage rates have been near or above 7% for the last few months, and active listings growth has been slow during this tenure.

Inventory 370

Inventory Mortgage New Listings Sellers 370

Housing Wire

APRIL 16, 2023

The seasonal housing inventory bottom evaded us again last week as active listings fell and new listing inventory decreased. Here’s a quick rundown of the last week: Active inventory fell 5,383 last week, and new listing data is still trending at all-time lows in 2023. The answer is no!

Inventory 538

Inventory Housing Market Marketing New Listings 538

Housing Wire

JULY 2, 2023

Housing inventory finally broke under 2022 levels last week. Since May 15, that trend has continued to the point that inventory in America is now negative year over year. 9, 2022, and today you can see the final result of that dynamic shift as inventory is now negative versus the 2022 data — all before July 4th.

Inventory 458

Inventory Housing Market Marketing New Listings 458

Housing Wire

MARCH 6, 2023

The housing market faced some serious obstacles last week as the 10-year yield broke over 4%, mortgage rates rose to over 7%, purchase apps fell again and we are still trying to find the elusive seasonal bottom for housing inventory. I discussed my theory on why inventory bottoms out later in the year on this HousingWire Daily podcast.

Inventory 504

Inventory Housing Market Marketing New Listings 504

Housing Wire

APRIL 3, 2023

Housing demand grew and inventory levels fell again while mortgage rates rose. Active inventory fell by 3,141, and new listing data fell again and is still trending at all-time lows. Last year, the weekly seasonal inventory bottom was set on March 4; we still need to confirm the weekly bottom in 2023.

Inventory 491

Inventory Housing Market Marketing New Listings 491

Housing Wire

JUNE 25, 2023

Summer is here, and housing inventory is finally growing! The spring housing inventory was like a zombie rising from the grave, very slow, but the summer is showing some promise and let’s hope it continues. Here’s a quick rundown of the last week: Active inventory grew 8,886 weekly. million Last year at this time it was 1.15

Inventory 410

Inventory Housing Market Marketing New Listings 410

Housing Wire

JULY 23, 2023

The slow rise of housing inventory this year has made the existing home sales market savagely unhealthy again. However, last week was good; we had less inventory growth than I would like to see, but it’s better than the past few weeks. Mortgage rates rose again and purchase apps saw a mild decline week to week.

Inventory 370

Inventory Housing Market Marketing New Listings 370

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. Total housing inventory fell in this report, the third report in a row that shows total inventory has decreased.

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Inventory Marketing Housing Market New Listings 473

Housing Wire

MARCH 26, 2023

These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. Active inventory fell 1,109, and new listing data made a lovely comeback week to week but was still noticeably down year over year. In a regular market, they would be closer to 5.25%.

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Inventory Housing Market Marketing Mortgage 450

Housing Wire

MARCH 23, 2024

Weekly housing inventory data The best housing story for 2024 so far is that inventory is growing yearly. The growth isn’t just in active inventory but also new listings. We’re not seeing seller stress in the inventory data but just a typical increase in inventory when rates are higher, which looks perfectly normal.

Mortgage 515

Mortgage Inventory New Listings Housing Market 515

Housing Wire

MARCH 5, 2024

Meanwhile, inventory levels have shown year-over-year growth despite the prevailing high mortgage rates. 23 and March 1, inventory rose from 497,608 to 498,339 (up 0.15%), according to Altos Research. 23 and March 1, inventory rose from 497,608 to 498,339 (up 0.15%), according to Altos Research. Between Feb. Between Feb.

Mortgage 458

Mortgage Inventory Sellers Investors 458

Housing Wire

DECEMBER 9, 2023

Weekly housing inventory data We will start with the price cut data percentage because it deserves a detailed explanation. Now lets take a look at the weekly inventory data. Last year, according to Altos Research , the seasonal peak for housing inventory was Oct. Weekly inventory change (Dec.

Mortgage 533

Mortgage Inventory New Listings Sellers 533

Housing Wire

MARCH 16, 2024

Weekly housing inventory data The one positive story for me in housing this year is that inventory is growing year over year for both active inventory and new listing data. The one benefit of higher rates is that inventory can grow in the post-2010 qualified mortgage world as long as higher rates create softness in demand.

Housing Market 500

Housing Market Inventory New Listings Marketing 500

Housing Wire

DECEMBER 2, 2023

Weekly housing inventory data It’s December, which means the seasonal decline in housing inventory is well underway, which means in 2023, I have batted a whopping zero on how much I predicted weekly inventory would grow with higher mortgage rates. Now, we see the seasonal inventory decline. Weekly inventory change (Nov.

Mortgage 543

Mortgage Inventory New Listings Sellers 543

Housing Wire

SEPTEMBER 24, 2023

On housing inventory , new listings data saw a small decline last week, but active listings grew at a healthy clip. According to Altos Research : Weekly inventory change (Sept. 15–22) : Inventory rose from 518,626 to 527,938 Same week last year (Sept. Mortgage rates did find some relief on Friday as bond yields headed lower.

Mortgage 485

Mortgage Inventory New Listings Housing Market 485

Housing Wire

MARCH 9, 2024

If so, what will this do to inventory levels? Weekly housing inventory data The positive story for housing in 2024 has been the inventory growth we have seen year-over-year. We survived jobs week and Federal Reserve Chairman Jerome Powell talking to Congress, with mortgage rates ending the week below 7%.

Mortgage 491

Mortgage Inventory New Listings Housing Market 491

Housing Wire

NOVEMBER 4, 2023

Weekly housing inventory dat a All I want for Christmas is one week of active inventory growth to be between 11,000-17,000 and not even Santa Claus can help me out here because the inventory growth rate has slowed down once again. It looks like I will bat a whopping 0 in 2023 for my higher rates inventory growth level forecast.

Mortgage 500

Mortgage Inventory New Listings Real Estate 500

Housing Wire

OCTOBER 21, 2023

Weekly housing inventory data One of my concerns with higher rates has been whether new listings data would take another leg lower, which wouldn’t be a good thing for the housing market. However, even with 8% mortgage rates last week, I am still batting a zero in 2023 as inventory growth last week was just 7,900.

New Listings 537

New Listings Mortgage Inventory Housing Market 537

Housing Wire

DECEMBER 16, 2023

Weekly housing inventory data Weekly active listing data is declining now like it always does every year at this time due to seasonality. Higher mortgage rates resulted in higher inventory during part of the fall and forced the seasonal decline in inventory to start later this year. Weekly inventory change : (Dec.

Inventory 535

Inventory New Listings Mortgage Law 535

Housing Wire

FEBRUARY 17, 2024

Weekly housing inventory data The best part of 2024 for me is watching housing inventory grow year-over-year. We should see the seasonal bottom soon and then the traditional increase in active inventory to match the growth in new listings data. Here is a look at last week: Weekly inventory change (Feb.

Mortgage 535

Mortgage Inventory New Listings Housing Market 535

Housing Wire

NOVEMBER 18, 2023

Weekly housing inventory data As someone who believes that housing inventory will grow with higher rates, I was hopeful that when mortgage rates got above 7.25% we would have a few weeks this year of 11,000-17,000 growth, which isn’t a lot. Last year, according to Altos Research , the seasonal peak for housing inventory was Oct.

Mortgage 491

Mortgage Inventory New Listings Housing Market 491

Housing Wire

MAY 21, 2023

New listings data fell, however, active inventory grew. Weekly housing inventory They say slow and steady wins the race; well, for housing inventory in 2023, it’s been terribly slow this spring. Here is my crazy stat for the week: Last year at this time, the weekly active inventory grew by 25,542 in just one week.

Housing Market 500

Housing Market Marketing Inventory New Listings 500

Housing Wire

JANUARY 6, 2024

However, one key for 2024 is finding the seasonal bottom in housing inventory sooner rather than later. We want to see active inventory bottom out in January and February — not March and April. Weekly housing inventory data Here is a look at the first week of the year: Weekly inventory change (Dec.

Inventory 542

Inventory New Listings Housing Market Mortgage 542