article thumbnail

Housing Market Tracker: Spring inventory grows

Housing Wire

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 517
article thumbnail

Housing Market Tracker: Inventory falls even lower

Housing Wire

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 533
Insiders

Sign Up for our Newsletter

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

article thumbnail

Opinion: The end of seller speculation in US housing market

Housing Wire

Even though sellers’ median valuations in each of these housing markets grew by an astounding 40% or more over the previous year, only one market, Panama City, Florida, saw a year-over-year increase in the number of homes newly listed for sale. The end of seller speculation in the housing market is long overdue and welcome news for buyers.

article thumbnail

Minority homeownership gains ground, but disparities persist: NAR

Housing Wire

But it fell slightly from 2021 (65.4%) due to higher mortgage rates and inventory constraints. Over the past decade, Asian and Hispanic Americans experienced the largest gains in homeownership rates, while white homeownership has remained steady at about 70% since 2017. The overall U.S. homeownership rate increased from 63.9%

Buyers 409
article thumbnail

How the housing market will evolve in 2023

Housing Wire

Inventory What does that mean for housing? Until mortgage rates drop below 5.5%, we can expect low housing supply, which favors sellers. Since the COVID-19 pandemic lockdowns of 2020, inventory has dropped to record-low levels both in 2021 and 2022. The COVID-19 pandemic suppressed the inventory in 2020 and 2021.

article thumbnail

Housing Market Tracker: Banking crisis is a new variable

Housing Wire

Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory? Weekly inventory increased by 1,734. New listing data collapsed, but we are putting an asterisk on that data line for this week.

article thumbnail

Logan Mohtashami on how the housing market is holding up

Housing Wire

HousingWire: How are existing home sales trends and inventory affecting the housing market right now? At the end of 2017, we went from a 5.72 The main story of housing is that inventory got worse at the start of the year, and even this week, inventory levels are still showing negative year-over-year data.