article thumbnail

Buyers are getting cold feet as mortgage rates exceed 7%: Redfin

Housing Wire

of homes that went under contract that month, according to a new report from Redfin. New Listings Tick Up Slightly, But Overall Housing Supply Remains at Record Low New listings rose 0.8% Year-over-year new listings were down 14.4%. New listings have likely bottomed out,” she said.

Buyers 446
article thumbnail

Housing Market Tracker: Mortgage rates and inventory fall together

Housing Wire

Active inventory fell 1,109, and new listing data made a lovely comeback week to week but was still noticeably down year over year. One piece of good news last week was that the new listing data, which saw a significant collapse two weeks ago, rebounded excellently to return to a usual trend.

Inventory 476
Insiders

Sign Up for our Newsletter

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

article thumbnail

Affordable Properties Remain Out of Reach

Appraisal Buzz

HouseCanary’s latest Market Pulse report, covering 22 listing-derived metrics and comparing data between July 2020 and July 2021, has found that the while the nation’s housing supply remains a detriment for the market, net new listings and the number of listings under contract shrinking is a positive sign that is rectifying itself.

article thumbnail

Housing inventory falls under 1M again as sales collapse

Housing Wire

During that period, we saw new listing data decline. However, in 2020 new listing data came back, and we don’t want to see the new listings continue to decline this year — that would be a double negative for the housing market. from December 2021 ($358,800), as prices rose in all regions.

Inventory 541
article thumbnail

Existing home sales data shows extent of housing inflation

Housing Wire

With the home-price growth we had in 2020 and 2021, my five-year price-growth model that I set for 2020-2024 of 23% was already smashed in just two years. That was a huge red flag, hence all the statements in 2021 about unhealthy housing. . From NAR Research : “Total existing-home sales notched a minor contraction of 0.4%

Inventory 482
article thumbnail

There’s no sign of the typical fall slowdown in home buying

Housing Wire

One-third of homes that went under contract had an accepted offer within one week of hitting the market, a new report from Redfin found. In addition, the number of homes that went under contract within two weeks of listing rose to 46% from 42% during the same period in 2020. points from a month earlier.

Contracts 403
article thumbnail

Redfin: Over half of buyers are going above asking price

Housing Wire

More than half of homes (51%) have sold above their listing price in the four week period ending May 23, 2021 — up from 26% one year ago, according to a recent study by Redfin. Diving deeper, for the two week period ending May 9, 2021, 57% of homes that went under contract had an accepted offer within the first two weeks on the market.

Buyers 448