Remove 2022 Remove Construction Remove Home Value Remove Inventory
article thumbnail

February pending home sales disappoint, but maybe we’re turning a corner?

Housing Wire

Pending home sales decreased in all four regions compared to one year ago. from February 2022. Although inventory has increased from February of last year, the number of homes available for sale is just half of what it was three years ago. The number of pending homes in the Northeast rose 6.5% from February 2022.

Contracts 302
article thumbnail

2022 Housing Market Predictions: What To Expect

Quicken Loans

In addition, home values and sales skyrocketed. In combination with low housing inventory and labor shortages, that drove up selling prices. In combination with low housing inventory and labor shortages, that drove up selling prices. For anyone interested in buying a home , real estate is still in high demand.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Rate buydowns are the cat’s meow in today’s market

Housing Wire

FBC Mortgage recorded originations of about $8 billion in 2022, including its joint venture volume, Nunziata said, adding that about 70% of that volume “was new construction.” So, while the rate of home-price gains is trending downward, home values are still appreciating overall. and 74.5%, respectively. “We

Marketing 404
article thumbnail

What to Expect from the Real Estate Market This Winter

Eppraisal

High demand and low inventory have lifted home prices nearly 20 percent over what they were in the autumn of 2020. Home Prices Yes, home values will continue to rise against other economic pressures, according to an estimation reported by Fannie Mae. Again, good news for sellers; a headache for seekers.

article thumbnail

Market Still Strong as Low Inventory Persists- February Newsletter

DW Slater Company

The biggest answer is inventory. The inventory is still at very low levels. No longer are homes selling above list price (see Percent of Orignal Price chart below ) In fact they are selling at a more reasonable 5% below list price. Until we have more inventory, prices will hold.

Inventory 128
article thumbnail

The nation’s housing market is on a correction course

Housing Wire

Several leading housing-market economists also are projecting the deceleration in home prices will continue in near the future as homebuyer demand ebbs — with one economist even predicting that prices will decline in some particularly hot markets across the nation. Freddie Mac projects that home-price growth will average 12.8%

article thumbnail

New home sales fell again in February

Housing Wire

Inventory is at a record low and homes are selling within a week of being listed – more than two weeks faster than they did in February 2020.”. Regionally, new home sales increased month over month in the Northeast (59.3%) and the Midwest (6.3%), but fell in the South (-1.7%) and the West (-13.0%). This is an increase of 3.3%