Housing Wire

FEBRUARY 4, 2024

How will mortgage rates impact seasonal inventory in 2024? Also, when mortgage rates rise, the inventory peak happens later in the year. New listings were trending at the lowest levels ever in 2023, but that should not be the case in 2024. Is the seasonal bottom going to happen later than I want?

Inventory 513

Inventory Mortgage New Listings Housing Market 513

Housing Wire

NOVEMBER 25, 2023

Lower mortgage rates tend to take housing supply off the market and demand has been picking up lately as rates have fallen. However, the recent drop in housing inventory has more to do with seasonality factors than lower mortgage rates. The question now is what will inventory look like in the spring if mortgage rates keep falling?

Inventory 534

Inventory Mortgage New Listings Buyers 534

Housing Wire

SEPTEMBER 13, 2022

The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. Typically we have a natural set of new listings each year; inventory rises in the spring and summer and then falls in the fall and winter.

Mortgage 516

Mortgage Inventory New Listings Sellers 516

Housing Wire

DECEMBER 2, 2023

Mortgage rates almost fell below 7%, the 10-year yield is below 4.25% again, and people are seriously talking about Fed rate cuts in 2024. Mortgage rates have fallen by almost 1% in a short time, and it has created four straight weeks of positive purchase application data. Mortgage rates and the 10-year yield We are back!

Mortgage 542

Mortgage Inventory New Listings Sellers 542

Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. of homes that went under contract that month, according to a new report from Redfin. The average interest rate on a 30-year-fixed mortgage was 7.07% in August. Year-over-year new listings were down 14.4%.

Buyers 414

Buyers Mortgage New Listings Real Estate Agent 414

Housing Wire

DECEMBER 30, 2023

We created this weekly tracker at the end of 2022 to give people a live weekly outlook on everything that drives the housing market and which factors to follow. 9, 2022, and they’ll be ready for what’s coming next. So today’s tracker is focused on 2023, the inventory data, and how different this year was from 2022.

Inventory 510

Inventory New Listings Housing Market Mortgage 510

Housing Wire

JULY 29, 2022

metropolitan areas in February 2022, based on year-over-year growth in median listing price according to the residential real estate listing website, Realtor.com. The table also reports the year-over-year percent change in new listings for each market. Table 1, below, reports the 10 hottest U.S. Panama City, FL 39.7%

Housing Market 404

Housing Market Sellers Marketing New Listings 404

Housing Wire

APRIL 6, 2024

Weekly housing inventory data — both active inventory and new listings — are prone to one-week moves that deviate from a trend, especially if people are going Easter egg hunting. So, the fact that active inventory and new listings data fell last week isn’t a big deal. 2022: 17.6%

Inventory 464

Inventory New Listings Mortgage Housing Market 464

Housing Wire

APRIL 27, 2024

I have a simple model with mortgage rates being above 7.25%: weekly inventory data should grow between 11,000-17,000 per week. This isn’t saying too much since 2023 had the lowest recorded level of new listings ever, but it’s still a plus in my book. 2022: 19.2% The mortgage spread data got worse last week.

Inventory 498

Inventory Housing Market Marketing New Listings 498

Housing Wire

MAY 8, 2024

After 2010, qualified mortgage laws were in place, meaning everyone getting a mortgage has to be able to repay the loan. You can see the drastic change this made in the Mortgage Bankers Association Credit Availability index , below, which skyrocketed in 2005 and 2006 before an epic collapse in 2008.

Inventory 502

Inventory Law New Listings Sellers 502

Housing Wire

JANUARY 13, 2024

So let’s hope for more home sellers in 2024. 6-13): Inventory rose from 471,349 to 473,406 The inventory bottom for 2022 was 240,194 The inventory peak for 2023 is 569,898 For context, active listings for this week in 2015 were 931,002 I don’t want to jinx this because active inventory rose last year at this time.

Inventory 531

Inventory New Listings Retail Mortgage 531

Housing Wire

AUGUST 20, 2023

Last week, mortgage rates hit a 21st-century high, the 10-year yield closed slightly higher than my peak forecast for 2023 , and housing inventory growth was still slow. Weekly active listings rose by only 4,401. Mortgage rates went from 7.19%% to 7.37%. Purchase application data didn’t budge much on the week-to-week data.

Inventory 370

Inventory Mortgage New Listings Sellers 370

Housing Wire

JANUARY 6, 2024

I believe this was the most overlooked housing story of the last year because even as mortgage rates rose all the way to 8% , the home price cut percentage data was always about 4% lower year over year. Now that mortgage rates have fallen and as we start the brand new year, we need to focus on this data line more.

Inventory 541

Inventory New Listings Housing Market Mortgage 541

Housing Wire

DECEMBER 7, 2022

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? However, mortgage rates have fallen more than 1% since the recent highs, so it’s time to look at the data to explain how to interpret it.

Housing Market 544

Housing Market Mortgage Marketing Inventory 544

Housing Wire

DECEMBER 16, 2023

The Federal Reserve played the good grinch for Christmas this year and delivered the best gift for homebuyers nationwide, leading to lower mortgage rates. The 10-year yield and mortgage rates fell together after the Fed meetings, which gave us mortgage rates under 7% last week. 9, 2022, and for many years: It’s rare the U.S.

Inventory 533

Inventory New Listings Mortgage Law 533

Housing Wire

NOVEMBER 11, 2023

Total housing inventory growth has been slow in 2023, but with rising mortgage rates over the last few months, inventory has grown a bit faster than average. But even with mortgage rates getting as high as 8%, we’ve yet to hit within that range. Last week, mortgage rates rose toward 7.56%. Weekly inventory change (Nov.

Inventory 483

Inventory New Listings Mortgage Retail 483

Housing Wire

JULY 13, 2023

Mortgage rates continued rising for the third consecutive week, increasing to 6.96%, the highest level since November 2022. The uptick in mortgage rates came amid positive inflation news – the consumer price index rate showed cooling prices in June, rising just 3.0% Other mortgage indexes show rates ticking down.

Mortgage 370

Mortgage New Listings Buyers Inventory 370

Housing Wire

JANUARY 20, 2023

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. The housing market may have started 2022 out with a bang, but it exited the year with a whimper,” Lisa Sturtevant, Bright MLS’ chief economist, said in a statement.

Inventory 382

Inventory Housing Market Realtors Buyers 382

Housing Wire

APRIL 16, 2023

The seasonal housing inventory bottom evaded us again last week as active listings fell and new listing inventory decreased. Mortgage rates didn’t move much last week, but the 10-year yield rose even though inflation data was tamer than expected, and we had a weaker retail sales report number.

Inventory 537

Inventory Housing Market Marketing New Listings 537

Housing Wire

FEBRUARY 20, 2023

Another week down in 2023 and we’re seeing crazier action in the housing market as purchase application data fell, mortgage rates rose again, and weekly inventory took another dive with a noticeable move lower in new listing data. Mortgage rates hit 6.80%, marking the high point for 2023 so far.

Inventory 404

Inventory Housing Market Mortgage Marketing 404

Housing Wire

AUGUST 3, 2022

To say that mortgage rates have been on a wild Mr. Toad’s ride in 2022 is an understatement. People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% We saw this in 2013-2014 and 2018-2019. million to 5.12

Mortgage 498

Mortgage Inventory Sellers Housing Market 498

Housing Wire

JANUARY 20, 2023

And existing home sales crashed in 2022 from a peak of around 6.5 The lack of sellers is also a demand problem and what we saw after June of 2022 is that sellers called it quits earlier and faster in the year than usual, resulting in total existing home sales totaling 5,030,000 to end 2022.

Inventory 540

Inventory Housing Market New Listings Marketing 540

Housing Wire

NOVEMBER 21, 2023

Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. Compared to October 2022, existing home sales slumped 14.6%, down from 4.44 lower than October 2022 when inventory was at 1.22 months in October 2022. months in September and 3.3

Inventory 404

Inventory Realtors New Listings Contracts 404

Housing Wire

NOVEMBER 9, 2022

In the summer of 2020, I talked about how the housing market would change, but it needed the 10-year yield to break over 1.94%, which roughly means 4% plus mortgage rates. Post-2012, whenever mortgage rates rise, existing home sales always trend below 5 million. New listing data is down 5% year to date, as you can imagine.

New Listings 488

New Listings Inventory Housing Market Sellers 488

Housing Wire

FEBRUARY 7, 2024

With mortgage rates briefly topping 8% and home prices breaking records throughout the year, many would-be sellers simply decided not to bother listing their homes, exacerbating already tight inventories. New data from the U.S. Mortgage rates followed suit, walloping buyers’ purchasing power.

Inventory 424

Inventory Sellers Mortgage Marketing 424

Housing Wire

DECEMBER 21, 2022

. “The principal factor was the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. ” One of the housing economic realities that I have been trying to stress this year is that a traditional seller of a home is typically a buyer as well.

Inventory 525

Inventory New Listings Housing Market Sellers 525

Housing Wire

APRIL 18, 2024

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. Supply being near all-time lows is one thing, but existing home sales aren’t crashing like they did in 2022. All four U.S.

Inventory 483

Inventory Housing Market New Listings Buyers 483

Housing Wire

JULY 2, 2023

Housing inventory finally broke under 2022 levels last week. To give you an idea how different this year is from last year, last week in 2022, active listings grew 30,940 while this year they only grew 5,848. However, I need to put some context into what happened in 2022.

Inventory 450

Inventory Housing Market Marketing New Listings 450

Housing Wire

APRIL 30, 2023

The spring housing market music is playing, and purchase application data and active listing inventory rose together last week. The other focus should be where mortgage rates go; only a little happened last week. Also, the volume of active listings was higher in 2022 this week, even though we were working from a lower level.

Inventory 516

Inventory Housing Market Marketing New Listings 516

Housing Wire

JUNE 25, 2023

Mortgage rates were again in a small range, hanging near 7%. However, the real positive story here is that even with new listing data trending at an all-time low, we are getting the growth in active listings we traditionally see in the spring and summer. Purchase apps had a small week-to-week gain.

Inventory 404

Inventory Housing Market Marketing New Listings 404

Housing Wire

FEBRUARY 6, 2023

Despite mortgage rates briefly falling below the 6% threshold, both housing inventory and mortgage demand fell last week. We are working from a shallow bar in this index – seven years of growth were taken away in one year in 2022. 9, 2022, it fits into the 30-90 day forward-looking sales data line.

Inventory 457

Inventory Housing Market Marketing New Listings 457

Housing Wire

JANUARY 9, 2023

Traditionally, we do see housing inventory fall in the month of December, however, we clearly saw in the second half of 2022 that higher rates created more days on the market and inventory was lingering longer. Now that mortgage rates have fallen again, the next few weeks will provide more clarity. 30, 2022-Jan. 31, 2021-Jan.

Inventory 541

Inventory Housing Market Marketing New Listings 541

Housing Wire

MARCH 6, 2023

Growing supply shortages are holding housing prices higher, and affordability constraints coupled with elevated rates lock potential sellers in place. Home prices fell in January, pulling back by 0.24% from December to mark the smallest monthly decline in seven months, according to Black Knight ‘s mortgage monitor report.

Housing Market 393

Housing Market Marketing Inventory Sellers 393

Housing Wire

FEBRUARY 27, 2023

The housing market madness persisted last week as inventory fell and higher mortgage rates took a bigger bite out of purchase application data. Weekly housing inventory decreased by 6,801, while new listing data is still negative year-over-year. A traditional seller is a conventional buyer most of the time.

Housing Market 442

Housing Market Marketing Inventory New Listings 442

Housing Wire

JANUARY 16, 2023

Mortgage rates fell along with bond yields, showing that mortgage rates peaked on Oct. The weekly data shows some good news for the housing market ! With mortgage rates also falling, I am hopeful that more people will list their homes and buy another, so we can get back to a more functional housing market.

Inventory 531

Inventory Housing Market Marketing Mortgage 531

Housing Wire

MARCH 19, 2023

Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory? New listing data collapsed, but we are putting an asterisk on that data line for this week. Weekly inventory increased by 1,734.

Housing Market 382

Housing Market Marketing Inventory New Listings 382

Housing Wire

FEBRUARY 6, 2023

Home prices growth and mortgage rates have come down from the peaks in 2022, but affordability still remains a challenge. Purchase borrowers, who now make up 82% of new rate locks, paid an average of 1.16 off their June 2022 peak (…) Affordability still has a stranglehold on much of the market,” he noted.

Inventory 382

Inventory Mortgage New Listings Home Value 382