Housing Wire

APRIL 1, 2024

As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. New listing volume last week was 18% more than a year ago. Pending sales Last week saw 69,000 new contracts for single-family home purchases across the country. Why the difference?

Inventory 457

Inventory New Listings Contracts Sellers 457

Hank Miller Team

APRIL 6, 2022

Traditionally, the months of May and June see the most new listings as the school cycle hits – graduating families sell and rising families buy. This year however, rocketing mortgage rates and other economic challenges may change that. The median time a home is on the market before contracting is 6 days.

Inventory 94

Inventory Contracts Buyers Sellers 94

Housing Wire

MARCH 18, 2024

At the time, I observed that even if mortgage rates stayed flat, the momentum seemed to be in the cards for broad, slow growth in the market. However, mortgage rates didn’t stay flat. 1 and as of today, March 18, mortgage rates are 30-40 basis points higher than Jan. This week in 2022 was the last of the 3% mortgages.

Inventory 408

Inventory New Listings Sellers Contracts 408

Housing Wire

MAY 6, 2024

As mortgage rates stay elevated and the number of unsold homes on the market grows — especially in the South — the leading indicators for future home sales prices continue to be softer than the current headlines suggest. That can change if mortgage rates fall dramatically, but the current trends show weakening home prices, not strengthening.

Inventory 417

Inventory Contracts Sellers New Listings 417

Housing Wire

MARCH 11, 2024

Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The only way inventory would grow in 2024 is if mortgage rates climbed. But the evidence is the opposite.

Inventory 502

Inventory New Listings Sellers Real Estate 502

Lamacchia Realty

JANUARY 27, 2023

The 2022 Connecticut Year in Review Housing Report breaks down sales, new listings, new pending sales, active inventory, and average price compared to the 2021 market and analyzes what the data means for the current housing market and beyond. Homes Pending (contract accepted) There were 20.2% Sales Down 18.8%

Inventory 52

Inventory Sellers Buyers Real Estate 52

Housing Wire

AUGUST 21, 2023

Mortgage rates only kept climbing in the last week. Mortgage rates are at their highest level in 20 years because the economy just keeps reporting strong data. And every uptick in mortgage rates leads to a downtick in the number of home buyers in the market. There are 365,000 single-family homes in contract now.

Inventory 370

Inventory Contracts Buyers Sellers 370

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%

Inventory 359

Inventory Contracts Buyers Mortgage 359

Housing Wire

JULY 24, 2023

Pending Sales There are now 378,000 single-family homes in contract. There were 68,000 new contracts for single-family homes this week. In the chart below, the light portion of each bar represents the new contracts each week. But, there were another 15,000 condos and townhomes that went into contract this week.

Inventory 312

Inventory Contracts New Listings Buyers 312

Housing Wire

JANUARY 29, 2021

However, contract signings rose 21.4% from December 2019, with all regions (Northeast, Midwest, South, West) reaching double-digit year-over-year increases. Realtor.com’s Housing Market Recovery Index showed significant contract growth, specifically in Portland, Las Vegas, Denver, Los Angeles, and Boston.

Contracts 529

Contracts Real Estate Housing Market Technology 529

Housing Wire

JULY 17, 2023

In the fall of 2022 after mortgage rates jumped to 7.5%, I thought maybe we’d missed the soft landing call. The median price of the homes in contract is higher than last year and the new sales each week are up a few percent over last year. I’ve been watching the price of the new pending sales each week. Currently, 33.1%

Real Estate 310

Real Estate Marketing Inventory Contracts 310

Lamacchia Realty

JANUARY 25, 2024

This report breaks down state-wide sales (previous years mostly covered Southern NH and the Lakes Region ), average prices, the number of active listings, and how many listings went under contract for 2023 compared to 2022, and discusses what is predicted to unfold in 2024. Average prices for closed sales increased by 7.2%

Inventory 52

Inventory Sellers Buyers Contracts 52

Will Springer Realtor

APRIL 9, 2024

For housing and mortgage professionals, however, these apparent highlights are persistent nuisances. New listings (+17%), available homes at the start of April (+5.0%) and listings going under contract – also known as Pending sales – (+24%) were solidly higher when comparing month to month.

Marketing 60

Marketing Inventory Buyers Sellers 60

Listing Spark

SEPTEMBER 25, 2023

A Dip in New Mortgages With interest rates soaring to unexpected heights, many prospective homebuyers have taken a step back from applying for new mortgages. Texas Mortgage Rates Going Forward Looking at the information shared above, it’s clear that we’ve been through quite a ride in the housing market.

Real Estate 69

Real Estate Sellers New Listings Inventory 69

Lamacchia Realty

JANUARY 30, 2024

The 2023 South Florida real estate market, like national trends, saw a decrease in sales, an increase in prices, and a decrease in the number of homes listed and placed under contract. The number of homes listed decreased by 10% The number of homes placed under contract decreased by 14.1%

HOA 49

HOA Inventory Buyers Contracts 49

Will Springer Realtor

AUGUST 15, 2023

Ah, for the good old days of 2019 – when we could stomach home prices closer to the mid-million-dollar mark and housing options were somewhat plentiful amid a mildly competitive buyer environment. Mortgage rates are high, home prices are high, there’s no inventory.” monthly decline in available Seattle listings (793).

Sellers 60

Sellers Buyers New Listings Inventory 60

Lamacchia Realty

JANUARY 28, 2022

2019–2021 Home Sales by Month. If you scroll down to the Listings portion of this report, you’ll see that there was a dip right around the same time. Classic case of low supply (diminished listings) and high demand (increase in sales) causing prices to be driven up. Sold Homes 2019 – 2021 by County. for prices.

Buyers 45

Buyers Contracts Inventory Real Estate 45

Lamacchia Realty

OCTOBER 26, 2021

For New Hampshire, it presents home sale statistics and average sales prices. 2019 will be examined in some areas to highlight the lingering impact of COVID in real estate. The historically low mortgage rates we have been seeing during the COVID-19 pandemic are starting to rise and are now up to over 3%. over September 2019.

Inventory 67

Inventory Buyers Sellers Landlords 67

Will Springer Realtor

MAY 13, 2024

. >> The number of people working in downtown Seattle offices is about 52% of the daily foot traffic seen in 2019 – a year before the start of the pandemic. MAY HOUSING UPDATE Even after a few weeks of mortgage rate jumps, the Seattle/King County housing market is displaying surprising strength.

HOA 36

HOA Transportation Construction Buyers 36

Will Springer Realtor

SEPTEMBER 12, 2023

The market is spooking many potential buyers and sellers thanks to stubbornly high mortgage interest rates. fewer new listings, the rate of sales rose 1.7% fewer new listings (1998) compared to July and 5.0% At least that’s what some economists have expressed. Only buyers and sellers who must move are doing so.

Finance 68

Finance Inventory Construction Buyers 68

Will Springer Realtor

JULY 11, 2023

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%

Housing Market 36

Housing Market Buyers Inventory Real Estate 36

Will Springer Realtor

MARCH 14, 2023

However, many potential buyers appeared to be in a wait-and-see mode amid a backdrop of rising mortgage rates that usually spell affordability challenges. Notably, there are 185% more listings available today across the Eastside of the county compared with February 2022. With rates surging today – to near 7.0% Portland, Ore.,

Marketing 36

Marketing Buyers Inventory Sellers 36

Will Springer Realtor

JUNE 13, 2023

Home prices and mortgage rates. That changed in March 2022 when mortgage rates started their steady climb into the 4s, then into the 5s in May and 6s by September. Interestingly, a higher proportion of home sales are now coming from new construction. In March, 33% of homes listed for sale in the U.S.

Buyers 36

Buyers Inventory Construction Finance 36

Will Springer Realtor

JULY 13, 2023

urban centers remain mostly higher than in 2019. The national office vacancy rate stands at 16% through March , up from 11% at the end of 2019 – just before life changed for you, me and the world. The county saw the combined number of single-family, townhome and condo listings increase in June by 4.4% Office vacancies in U.S.

Construction 36

Construction Supply Chain Real Estate Development 36

Will Springer Realtor

FEBRUARY 14, 2023

Mortgage Applications – The number of consumers seeking a mortgage, the earliest sign of home-buying intent in the purchasing funnel, is averaging 9% above the trough of Q4, though still down about 30% from a year ago. Another positive sign: The number of new listings surged from the previous month.

Housing Market 36

Housing Market Marketing Inventory Buyers 36

Will Springer Realtor

OCTOBER 11, 2023

King County acknowledged receiving a little under $1B in federal aid for homelessness and housing since 2019, yet the local homeless rate rose 14% this past year. First a look at September’s numbers: A wave of last-chance listings for the year hit the market after Labor Day. . >> The rate of homelessness in the U.S.

Law 36

Law Development Design Government 36

Will Springer Realtor

MAY 9, 2022

Between 2011 and 2019, the median household income in our area increased by about 34% but housing prices jumped 78%. Microsoft has committed $750M since 2019 to help support the creation of more affordable homes in Seattle metro. How can the system handle skyrocketing home prices, mortgage rates and rental prices simultaneously?

Architecture 36

Architecture Design Buyers Construction 36

Will Springer Realtor

JULY 8, 2022

The King County housing market has seen inventory increase by 55% in the past month, while the number of homes going under contract fell 22% from May to the lowest June level since 2011. annualized for May – mortgage rates will remain high. annualized for May – mortgage rates will remain high. for 30-year conventional financing.

Housing Market 36

Housing Market Marketing Inventory HOA 36

Will Springer Realtor

OCTOBER 8, 2021

The Federal Reserve, which has been buying mortgage-related securities for more than a year to artificially keep interest rates low, has signaled a desire to taper its bulk purchases within the next month or so. A 30-year mortgage in our area could be had for about 3.125%, up from about 2.875% a month ago. New listings are up 6.3%

Real Estate 36

Real Estate Buyers Inventory Housing Market 36

Will Springer Realtor

SEPTEMBER 8, 2021

It’s particularly true among homes priced at or below $500,000 in King County, where only 737 of those properties sold in August (36% fewer than in August 2019). The good news comes from major national builders who have shared their forecasts for growth in the coming years. in the last 12 months. BY THE NUMBERS. >> Buyers secured 3.8

Construction 36

Construction Inventory Buyers Real Estate 36

Will Springer Realtor

FEBRUARY 9, 2022

“That’s a triple whammy hitting potential homebuyers,” notes Len Kiefer, deputy chief economist at Freddie Mac, which buys many of our mortgage loans from lenders. People are looking at higher prices, there’s slim pickings in inventory and now we have higher mortgage rates.”. The new fees will take effect on April 1. “As

Buyers 36

Buyers Law Inventory Development 36

Will Springer Realtor

MAY 12, 2021

Home prices are overheating, mortgage rates are inching up from the start of the year and the supply of homes is in an unseasonable valley – far from its Mt. Today, 37% of all buyers are Millennials and they comprise about 54% of all mortgage applications. of mortgages underwater); Multnomah County (Portland), Ore. points at 34.

Real Estate 36

Real Estate Inventory Buyers Construction 36

Will Springer Realtor

JUNE 9, 2021

Adjustable-rate mortgages were cheap and easy to acquire, home prices were artificially inflated and supply plentiful. The Federal Reserve is supporting the purchase of mortgage-backed securities as well as helping to sustain low interest rates for mortgages. Then the housing bubble burst. range won’t last forever.

Housing Market 36

Housing Market Marketing Inventory New Listings 36

Will Springer Realtor

JUNE 8, 2022

The pandemic has made attaining ownership more difficult, particularly in housing-starved Seattle (pictured) and across King County where the number of homes on the market (Active listings) has trended lower for most of the past decade-plus. With scarcity comes price appreciation. What is the answer? asks Maxim Lissak, a Bellevue, Wash.,

Design 36

Design Construction Development Property Taxes 36

Will Springer Realtor

JULY 9, 2021

Hispanic households fare better with 32% of this segment being able to afford the mid-priced new home. Among non-Hispanic white households, 44% have sufficient income to qualify for a mortgage using standard underwriting criteria. increase in single-family permits over 2019. >> >> A whopping 3.8

Buyers 36

Buyers Development Transportation Inventory 36