Housing Wire

JANUARY 13, 2024

Last week, housing inventory grew and the number of price cuts fell, which is expected at this time of the year. I hope the next thing we see is housing inventory grow at the level it typically does in January or February instead of being delayed until March or April. So let’s hope for more home sellers in 2024. 2022 21.7%

Inventory 527

Inventory New Listings Retail Mortgage 527

Housing Wire

APRIL 23, 2023

Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. Still, we have some promising signs that we might have finally hit the inventory bottom for 2023. Again, I am a bit mindful here due to Easter.

Inventory 545

Inventory Housing Market Marketing New Listings 545

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 fear of not having an increase in inventory this spring should be put to rest. After the last few weeks , we can put that fear aside: we are finally getting the seasonal increase in active listing.

Inventory 515

Inventory Housing Market Marketing New Listings 515

Housing Wire

MAY 7, 2023

Just when I thought it was safe to say we were getting more traditional spring housing inventory , we hit a snag last week, as active inventory and new listings declined. Weekly housing inventory The numbers this week are unfortunate: inventory should be growing like it does at this time every year.

Inventory 483

Inventory Housing Market Marketing New Listings 483

Housing Wire

FEBRUARY 7, 2024

It’s no secret that 2023 was a difficult year to buy a home. 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.

Inventory 403

Inventory Sellers Mortgage Marketing 403

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. Since May 15, that trend has continued to the point that inventory in America is now negative year over year.

Inventory 449

Inventory Housing Market Marketing New Listings 449

Housing Wire

JUNE 25, 2023

Summer is here, and housing inventory is finally growing! The spring housing inventory was like a zombie rising from the grave, very slow, but the summer is showing some promise and let’s hope it continues. Here’s a quick rundown of the last week: Active inventory grew 8,886 weekly.

Inventory 404

Inventory Housing Market Marketing New Listings 404

Housing Wire

JANUARY 20, 2023

On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. million in January down to about 4 million in December, We now have total inventory levels near all-time lows again. During that period, we saw new listing data decline.

Inventory 539

Inventory Housing Market New Listings Marketing 539

Housing Wire

MAY 11, 2024

This can be partly due to a higher percentage of cash buyers in the sales mix that purchase applicatoins won’t account for. Since November 2023, when mortgage rates started to fall, we have had 12 positive prints versus nine negative prints and two flat prints week-to-week. So, we shall see how next week looks.

Mortgage 393

Mortgage Inventory New Listings Housing Market 393

Housing Wire

JANUARY 9, 2023

The housing market saw inventory fall 4% last week from the week before. Does that mean we are heading back to all-time lows in inventory again for 2023? During the last four weeks and especially this past week, we are seeing inventory decline faster than expected. Weekly housing inventory. 30, 2022-Jan.

Inventory 533

Inventory Housing Market Marketing New Listings 533

Housing Wire

MAY 4, 2023

On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. On the other hand, inventory is still low, and homes are still selling fast, often with multiple offers. Sales and new pending contracts are below pre-pandemic levels. What can we expect in 2023?

Housing Market 402

Housing Market Marketing Inventory Buyers 402

Housing Wire

MARCH 26, 2023

These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. Active inventory fell 1,109, and new listing data made a lovely comeback week to week but was still noticeably down year over year. In a regular market, they would be closer to 5.25%.

Inventory 440

Inventory Housing Market Marketing Mortgage 440

Housing Wire

FEBRUARY 6, 2023

Despite mortgage rates briefly falling below the 6% threshold, both housing inventory and mortgage demand fell last week. Weekly Housing Inventory A few weeks ago, I was encouraged that we had a slight increase in inventory and a small decline the following week. This week inventory fell 8,664 units from the previous week.

Inventory 448

Inventory Housing Market Marketing New Listings 448

Housing Wire

JANUARY 16, 2023

Housing inventory increased by 1,339 homes nationwide. The weekly data shows some good news for the housing market ! The weekly inventory data, which had fallen faster than I had anticipated the last few weeks, has now seen a slight uptick. Weekly housing inventory. Weekly inventory change: (Jan.

Inventory 531

Inventory Housing Market Marketing Mortgage 531

Housing Wire

DECEMBER 9, 2023

This happened even with higher home prices and higher mortgage rates in 2023. Weekly housing inventory data We will start with the price cut data percentage because it deserves a detailed explanation. Weekly housing inventory data We will start with the price cut data percentage because it deserves a detailed explanation.

Mortgage 526

Mortgage Inventory New Listings Sellers 526

Housing Wire

DECEMBER 28, 2022

After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. Heading into 2023, it seems well within reason, given current trends, that a peak-to-trough decline in home prices of 10% is possible. . There will be two key differences between 2023 and 2010. Home Prices will fall, but don’t expect 2010.

Housing Market 483

Housing Market Marketing Inventory Mortgage 483

Housing Wire

DECEMBER 2, 2023

For my 2023 forecast , my range for the 10-year yield was 3.21%-4.25% , which meant mortgage rates between 5.75%-7.25%. The call was that if mortgage rates rose above 7.25% , we would see more inventory growth — between 11,000-17,000 weekly. Now, we see the seasonal inventory decline. Weekly inventory change (Nov.

Mortgage 542

Mortgage Inventory New Listings Sellers 542

Housing Wire

MARCH 9, 2024

If so, what will this do to inventory levels? Since November 2023, we have had nine positive and five negative purchase application prints after making holiday adjustments. This is a carbon copy of what happened in 2023 when rates went higher. But will mortgage rates keep heading lower?

Mortgage 460

Mortgage Inventory New Listings Housing Market 460

Housing Wire

APRIL 5, 2024

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. Millennials comprised 75% of this demographic, with older millennials and Generation X (ages 44 to 58) accounting for 44% and 24% of first-time buyers.

Housing Market 398

Housing Market Marketing Training New Listings 398

Housing Wire

NOVEMBER 28, 2023

house prices rallied again in the third quarter of 2023. Home-price growth expected to slow in Q4 High mortgage rates combined with a typical seasonal slowdown will limit the number of buyers on the market in Q4, Bright MLS Chief Economist Lisa Sturtevant said in a statement. In fact, home prices rose 2.1% quarter over quarter and 5.5%

Inventory 464

Inventory New Listings Finance Buyers 464

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. Of course this isn’t the healthiest housing inventory story. This scenario is similar to 2023 when rates fell.

Inventory 480

Inventory Housing Market New Listings Buyers 480

Housing Wire

AUGUST 13, 2023

Weekly active inventory grew slowly again and purchase apps were down week to week again. This happened as expected, except we had a lousy bond auction, which meant too much debt supply came online with insufficient buyers. As the economy has stayed firm, bond yields are at a higher level of my range for 2023.

Mortgage 367

Mortgage Inventory New Listings Retail 367

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 515

Mortgage Inventory New Listings Sellers 515

Housing Wire

FEBRUARY 14, 2024

Meanwhile, other homes are lingering on the market for months and driving up the typical age of listings on Zillow to 72 days. To lure more buyers, sellers are coming to terms with the market conditions and are agreeing to apply price cuts to their homes. Total inventory was up more than 3% from January 2023.

New Listings 384

New Listings Sellers Housing Market Buyers 384

Housing Wire

DECEMBER 21, 2022

In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! “The principal factor was the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. . Plus, available housing inventory remains near historic lows.”

Inventory 518

Inventory New Listings Housing Market Sellers 518

Housing Wire

MAY 8, 2024

million net loss reported in Q1 2023. Compass executives, however, were not deterred by this news as the firm yet again finished the quarter free cash-flow positive at $5.9 million, compared to Q1 2023’s free cash-flow loss of $59 million. First, more buyers are using agents in 2023 than in 2003.

Agents 357

Agents Brokerage Real Estate Clients 357

Housing Wire

MARCH 6, 2024

This is clear in the chart below, which shows the year-over-year percent change in the four-week average of new listings. This data, courtesy of Altos, shows that new listings retreat when rates rise and accelerate when rates fall: High rates are bad, too, for the sellers who decided to list their homes.

Mortgage 404

Mortgage Sellers New Listings Buyers 404

Housing Wire

FEBRUARY 23, 2024

This is nothing dramatic, but similar to what we saw in 2023 when mortgage rates rose from 5.99% up to 7.25%. Here are some charts reviewing today’s report with a host of data lines from the NAR existing home sales report: [link] A few critical glaring points: active inventory is still historically low, and so is monthly supply data.

Inventory 443

Inventory Mortgage New Listings Marketing 443

Housing Wire

NOVEMBER 21, 2023

Prospective home buyers experienced another difficult month due to the persistent lack of housing inventory and the highest mortgage rates in a generation,” NAR Chief Economist Lawrence Yun said in a statement. On the bright side, housing inventory rose 1.8% lower than October 2022 when inventory was at 1.22 All four U.S.

Inventory 393

Inventory Realtors New Listings Contracts 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. Weekly inventory change (Feb. Weekly inventory change (Feb.

Housing Market 419

Housing Market Marketing Inventory New Listings 419

Housing Wire

JANUARY 26, 2024

The trade organization projects a 13% increase in existing home sales between 2023 and 2024 for an annualized pace of 4.62 Looking ahead Confronted with limited existing home inventory, many buyers have pivoted to newly constructed homes. But new listings activity grew by 9.1% million and a 15.8% million units.

Contracts 449

Contracts Housing Market Construction Inventory 449

Inman

FEBRUARY 2, 2024

Strategic migration, low inventory and a demand for larger spaces have also contributed to rising luxury prices, agents told Inman, depending on the specific market.

Buyers 190

Buyers Inventory Agents Marketing 190

Housing Wire

NOVEMBER 28, 2023

home prices continued their rally in September 2023,” Craig Lazzara, managing director at S&P DJI , said in a statement.“Our in September, marking eight consecutive monthly gains since prices bottomed in January 2023. Low levels of existing home inventory contributed to keeping home prices elevated. by the end of September.

New Listings 351

New Listings Contracts Inventory Sellers 351

Housing Wire

JANUARY 20, 2023

December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates,” Lawrence Yun, NAR’s chief economist, said in a statement. But as sales slowed in December, the inventory of unsold existing homes also receded, dropping 13.4% A total of 5.03 year over year.

Inventory 359

Inventory Housing Market Realtors Buyers 359

Housing Wire

NOVEMBER 9, 2022

Inventory levels broke to all-time lows and thus created massive housing inflation quickly, which broke my model. The glaring difference between now and 2014 is that total inventory levels are roughly 1 million lower now than the peak of 2014. New listing data is down 5% year to date, as you can imagine.

New Listings 480

New Listings Inventory Housing Market Sellers 480

Housing Wire

MAY 30, 2023

Low housing inventory and still-strong demand kept prices high in March, according to the latest according to the S&P CoreLogic Case-Shiller National Home Price Index , released Tuesday. The annual growth rate in March 2023 was up 0.7%. increase in home prices in the first quarter of 2023 from the first quarter in 2022.

Mortgage 397

Mortgage Inventory Construction New Listings 397

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? Weekly inventory increased by 1,734. New listing data collapsed, but we are putting an asterisk on that data line for this week.

Housing Market 377

Housing Market Marketing Inventory New Listings 377