Remove 2019 Remove Modernization Remove New Listings Remove Sellers
article thumbnail

Existing home sales data shows extent of housing inflation

Housing Wire

Existing home sales have more legs to go lower, especially now that new listing data is falling. A traditional primary resident seller is also a buyer, which means if they don’t list, they’re not just taking a potential home to be bought off the table — they’re taking a future sale off the books as well.

Inventory 447
article thumbnail

The standoff between homebuyers and sellers

Housing Wire

There’s a showdown at the housing market corral between homebuyers and sellers. I talk about 2019 inventory levels a lot because in 2019 real home prices briefly went negative, showing that you don’t need to have six months plus of inventory to have pricing cool down. Image by Brandon Johnson/HW Media.).

Sellers 498
Insiders

Sign Up for our Newsletter

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

article thumbnail

The savagely unhealthy housing market is over

Housing Wire

This facilitated the biggest decline in existing home sales for a single year that we will ever see in modern-day history due to the high level of sales in January of 2022. that don’t have inventory near 2019 levels. The housing market can still be very frustrating to buyers and sellers because mortgage rates can move fast up or down.

article thumbnail

Will Springer Realtor - Untitled Article

Will Springer Realtor

SETTLEMENT FOLLOW-UP A judge has preliminarily approved the $418M antitrust class-action settlement involving sellers’ compensation to brokers/agents in residential real estate sales. News of the settlement and its impact topped last month’s newsletter. Details still need to be ironed out, but U.S.

HOA 36
article thumbnail

HOUSING ‘TRIFECT’ PUTTING SQUEEZE ON BUYERS

Will Springer Realtor

The price of new construction has jumped, too; the National Association of Home Builders estimates costs have risen about 35% since 2019. The single-family housing market is sluggish, as many prospective buyers and sellers have chosen to focus on enjoying the many weeks of beautiful weather. And the sellers don’t disagree.

Buyers 36
article thumbnail

IN DIRE NEED OF GENERATIONAL RESPONSE TO HOUSING SHORTFALL

Will Springer Realtor

Housing affordability decreased in 45 of the 50 states from 2012 to 2019. Washington state now (right) has less than 45% of all households able to afford the median priced home (as of 2019, when the state’s median figure was more than $100,000 less than today). A surprising 3% used the time to build a new house.

article thumbnail

FINDING THE KEY TO UNLOCK ‘STUCK’ HOMEOWNERSHIP RATE

Will Springer Realtor

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? What happens then? months, Pierce at 0.8

Design 36