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The mortgage rate lock-in didn’t start in 2022

Housing Wire

In the 24 months beginning March 2022, the U.S. housing market saw dramatic changes in affordability as mortgage rates skyrocketed 500 basis points. After an initial rush to get to market in Q2 2022, new listings volume fell precipitously. million fewer home sales between March 2022 and December 2023.

Mortgage 329
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Existing home sales ended the year with a whimper in 2022

Housing Wire

The phrase “in like a lion, out like a lamb” is typically used to describe the month of March, but it is also applicable to existing home sales trends in 2022. million, according to a report from the National Association of Realtors (NAR) released Friday. million existing homes were sold in 2022, down 17.8% After posting a 6.5%

Inventory 373
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Days on market grow despite low inventory for existing homes

Housing Wire

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. The Federal Reserve wanted to see the bidding wars end and the days on the market grow.

Inventory 464
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Existing-home sales have nowhere to go but up in 2024? 

Housing Wire

million, according to the N ational Association of Realtors. Compared to October 2022, existing home sales slumped 14.6%, down from 4.44 Multiple offers, however, are still occurring, especially on starter and mid-priced homes, even as price concessions are happening in the upper end of the market.” months in October 2022.

Inventory 401
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Why are existing home prices rising when sales are still so low?

Housing Wire

Supply being near all-time lows is one thing, but existing home sales aren’t crashing like they did in 2022. The supply and demand equilibrium changed after November 2022, and that itself has kept prices rising even with existing home sales still trending at the lowest levels ever for the third calender year. million in March.

Inventory 483
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Existing home sales data shows extent of housing inflation

Housing Wire

Today the National Association of Realtors reported that existing home sales fell once again to 4.80 The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . from July to a seasonally adjusted annual rate of 4.80

Inventory 449
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“Greetings from Missouri!” Millions are finding commission lawsuit postcards in the mail. Agents say it’s an opportunity

Housing Wire

The firm was appointed as the designated settlement administrator for the suit in 2022, over a year prior to any settlement agreements being reached. It is further exasperating the negative stereotype some people have of Realtors. But overall, not much communication from Realtor groups. she asked. “It

Agents 414