Housing Wire

FEBRUARY 26, 2024

The average cost of a policy increased 40% in 2023 alone, according to a report by Redfin. On the demand side, buyers are wary of purchasing a condo since it has become less affordable. In Jacksonville, the median condo price declined roughly 7% year over year in January, sales declined 27% and new listings increased 32%.

HOA 459

HOA Law Insurance New Listings 459

Housing Wire

MARCH 2, 2024

Let’s take a look at the inventory data this year to test this premise, since for many months it has been a working theory of mine that new listings data behavior last year marked a bottom and even going into 2024 we should see more sellers. You can see our debate on this topic here.

Inventory 531

Inventory Mortgage New Listings Housing Market 531

Housing Wire

NOVEMBER 25, 2023

Instead, let’s look at the future: If the 10-year yield can break under 4.34% with some kick from bond buyers, we have an excellent shot at getting under 7%. Most home sellers are buyers, and we want the new listings data to show growth year over year since it appears that we have formed a bottom in 2023.

Inventory 519

Inventory Mortgage New Listings Buyers 519

Housing Wire

DECEMBER 9, 2023

This happened even with higher home prices and higher mortgage rates in 2023. Naturally, some people thought home prices would crash in 2023 as many market players said prices always follow volume. What happened between June 2022 to June 2023 can be confusing, so if you need more clarity I suggest listening to this podcast.

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Mortgage Inventory New Listings Sellers 515

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 380

Mortgage Sellers New Listings Buyers 380

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%. One concern with higher mortgage rates was that more sellers — who are traditional buyers — would not list their homes. Mortgage rates and the 10-year yield We are back! Weekly inventory change (Nov.

Mortgage 542

Mortgage Inventory New Listings Sellers 542

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. year over year.

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New Listings Sellers Housing Market Buyers 359

Housing Wire

MARCH 9, 2024

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. Moving the needle doesn’t take much since we all know we have buyers ready to go and home sales are at record lows.

Mortgage 438

Mortgage Inventory New Listings Housing Market 438

Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. However, at the current trend, we will break below the lows in the price cut percentage data that we saw in 2023 in the spring of this year. The bottom has been in March and April in the past few years.

Inventory 535

Inventory Mortgage New Listings Sellers 535

Housing Wire

FEBRUARY 4, 2024

New listings were trending at the lowest levels ever in 2023, but that should not be the case in 2024. New listings were trending at the lowest levels ever in 2023, but that should not be the case in 2024. Here is a look at last week: Weekly inventory change (Jan. But at least it’s positive!

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Inventory Mortgage New Listings Housing Market 492

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. The question now is: Have we hit the seasonal peak in inventory for 2023? That is the critical period for new listing data to grow; remember, most sellers are buyers.

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Inventory New Listings Mortgage Retail 441

Housing Wire

APRIL 23, 2023

Still, we have some promising signs that we might have finally hit the inventory bottom for 2023. Here’s a quick rundown of the last week: Active listings rose by 8,546 , and new listing data showed some growth. Again, I am a bit mindful here due to Easter. However, I will take what I can now.

Inventory 542

Inventory Housing Market Marketing New Listings 542

Housing Wire

APRIL 30, 2023

Weekly housing inventory Since new listing data was trending at all-time lows in 2023, some feared we wouldn’t see the typical spring inventory increase. After the last few weeks , we can put that fear aside: we are finally getting the seasonal increase in active listing.

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Inventory Housing Market Marketing New Listings 511

Housing Wire

SEPTEMBER 13, 2022

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. It wasn’t the rate move that caught my attention — it was the new listing data. As you can see below, that sharp move to 6.25% caused new listing data to stall at first.

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Mortgage Inventory New Listings Sellers 514

Housing Wire

JANUARY 13, 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. 2022 21.7%

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Inventory New Listings Retail Mortgage 517

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. New listing data was trending at all-time lows in 2021 abd 2022 and now it’s creating a new all-time low trend in 2023.

Inventory 485

Inventory Housing Market Marketing New Listings 485

Housing Wire

AUGUST 13, 2023

This happened as expected, except we had a lousy bond auction, which meant too much debt supply came online with insufficient buyers. For my 2023 forecast , my range on the 10-year yield has been between 3.21%-4.25%, emphasizing that the bond yields can go lower than 3.21% only if the labor market breaks.

Mortgage 356

Mortgage Inventory New Listings Retail 356

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%

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Inventory New Listings Finance Buyers 465

Housing Wire

APRIL 18, 2024

This scenario is similar to 2023 when rates fell. The one thing that is positive this year which is different than last year is new listing data is rising year over year, nothing spectacular, but it’s a positive story for housing This means we have more sellers that will be buyers in 2024. million units, up 4.7%

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Inventory Housing Market New Listings Buyers 469

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.

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Contracts Housing Market Construction Inventory 448

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%. Our data lines here at Housing — which track things weekly — show inventory is growing year over year with new listings growth as well. This means 2024 is starting to look a lot like 2023 unless rates fall soon.

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Inventory Mortgage New Listings Marketing 422

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. Simultaneously, new listing volume is up at the end of November, which might cool home prices down.

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New Listings Contracts Inventory Sellers 325

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.

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Buyers Inventory Agents Marketing 170

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.

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Inventory Sellers Mortgage Marketing 382

Housing Wire

JANUARY 20, 2023

Outside of that time period, everything else from 1982 to 2023 was normal. From NAR : “December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates ,” said NAR Chief Economist Lawrence Yun. During that period, we saw new listing data decline.

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Inventory Housing Market New Listings Marketing 536

Housing Wire

DECEMBER 21, 2022

” 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. This explains why total active listing inventory data has been stable over the decades, with the exception of 2006-2011, when those forced distressed credit home sellers couldn’t buy.

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Inventory New Listings Housing Market Sellers 503

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. The median existing- home price for all housing types in October was $391,800, down from $394,300 in September but up 3.4%

Inventory 376

Inventory Realtors New Listings Contracts 376

Housing Wire

JUNE 25, 2023

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. In addition, new listing data turned negative year over year after the second half of 2022.

Inventory 406

Inventory Housing Market Marketing New Listings 406

Housing Wire

JULY 2, 2023

As you can see in the chart below, 2023 inventory growth is very slow compared to 2022. The other big story with housing inventory is that new listing data has been trending negative year over year since the end of June 2022. We had new listings growth from 2021 to 2022, but that’s not the case this year.

Inventory 451

Inventory Housing Market Marketing New Listings 451

Housing Wire

FEBRUARY 27, 2023

Weekly housing inventory decreased by 6,801, while new listing data is still negative year-over-year. I call this rate lock risk, where some buyers don’t qualify or don’t want to continue the purchase until rates fall again. Rates spiking almost 1% in mere weeks is damaging because it can take some previous buyers out of play.

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Housing Market Marketing Inventory New Listings 397

Housing Wire

MARCH 26, 2023

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 my 2023 forecast, I said that if the economy stays firm, the 10-year yield range should be between 3.21% and 4.25% , equating to 5.75% to 7.25% mortgage rates.

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Inventory Housing Market Marketing Mortgage 437

Housing Wire

APRIL 26, 2023

Plenty of buyers, but not enough homes for sale,” California-based mortgage loan officer Dan Stone, who works with hundreds of mortgage lenders, told HousingWire. Prices are still expensive, forcing buyers to look at less expensive homes or areas not as preferred. Meanwhile, the peak for 2023 so far is 472,680.

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Mortgage Loan Officers New Listings Government 383

Housing Wire

MAY 30, 2023

The annual growth rate in March 2023 was up 0.7%. The modest increases in home prices we saw a month ago accelerated in March 2023,” Craig Lazzara, the managing director at S&P DJI, said in a statement. increase in home prices in the first quarter of 2023 from the first quarter in 2022. before seasonal adjustment.

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Mortgage Inventory Construction New Listings 383

Housing Wire

NOVEMBER 9, 2022

NAR total inventory data 1,250,000 One thing about purchase application data and demand is that a traditional seller is typically a buyer of a home. Since the end of June, we have seen that the home seller called it quits earlier this year than usual, and now the new listing data is negative year to date.

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New Listings Inventory Housing Market Sellers 467

Housing Wire

MARCH 19, 2023

New listing data collapsed, but we are putting an asterisk on that data line for this week. As I write this article, I see news that even Warren Buffet has been asked to chime in on how to deal with this crisis. So, we can now add a new variable into the equation for 2023: What does a banking crisis mean for mortgage rates?

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Housing Market Marketing Inventory New Listings 366

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. This year, buyers may be out in front of supply, and the market could be surprisingly competitive.” A total of 5.03 year-over-year increase in December to $366,900.

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Inventory Housing Market Realtors Buyers 335

Housing Wire

FEBRUARY 6, 2023

Prior to the pandemic, buyers paid closer to 0.5 While buyers seem to be returning to the market early in 2023, purchase loans locked in January are still off by 13% compared to the 2018 and 2019 pre-pandemic levels. For those looking to pull cash out of their homes, the cost was nearly twice that, with an average of 2.06

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Inventory Mortgage New Listings Home Value 381