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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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. Here is a look at inventory last week: Weekly inventory change (Feb.

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Inventory Mortgage New Listings Housing Market 533

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.

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Inventory Mortgage New Listings Buyers 535

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.

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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.

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Mortgage Inventory New Listings Sellers 542

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 518

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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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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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.

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Inventory Mortgage New Listings Sellers 541

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 515

Housing Wire

NOVEMBER 28, 2023

Home prices rallied in September, as homebuyers still outnumbered sellers. 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. Home prices posted a 3.9%

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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.

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Inventory New Listings Retail Mortgage 532

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. Since the credit standards have improved post-2010, we shouldn’t see distressed sellers until a job loss recession happens, even if sales fall noticeably.

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Inventory New Listings Housing Market Sellers 527

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.

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Inventory Housing Market New Listings Buyers 487

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%

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Inventory Realtors New Listings Contracts 407

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 518

Housing Wire

JANUARY 20, 2023

Outside of that time period, everything else from 1982 to 2023 was normal. 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.

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Inventory Housing Market New Listings Marketing 540

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 492

Housing Wire

APRIL 22, 2024

We negotiated to get the sellers the highest price possible. There are still plenty of buyers interested in this area. In fact, we had (number) offers, which means there are still ready, willing, and qualified buyers eager to make an offer! Many of us are in sellers’ markets with very low inventory.

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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.

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Inventory Housing Market Marketing New Listings 454

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.

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Inventory Housing Market Marketing New Listings 407

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 446

Housing Wire

OCTOBER 13, 2023

Berg and ALTA One attendees also highlight the recent uptick in seller impersonation fraud , which occurs when a fraudster poses as the owner of a vacant lot or vacation home who is looking to sell the property. They need new listings and they are so desperate that they might take a fraudulent listing.”

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Real Estate Agent Real Estate Agents Sellers 437

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 383

Housing Wire

OCTOBER 24, 2022

The price of new listings is dropping. Home buyers got spooked when mortgage rates passed 5.5%. In April, May and June, when rates spiked dramatically from 3% to 6%, we saw inventory rise as buyers pulled back. At this point, buyers actually perked up a bit and got more active. As soon as rates spiked above 5.5%

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Real Estate Marketing Inventory Sellers 321

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 383

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 383

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. in recent months due to a combination of falling demand and a weakening inflow of new listings. Months of supply stagnated at about 3.1 In 2022, about $2.4 trillion in 2021.

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Housing Market Marketing Inventory Sellers 395

Housing Wire

APRIL 29, 2024

The weekly volume of new listings is now higher than at anytime last year. It’s still April, so there could be as many as eight more weeks of seller growth in the spring housing market. And seller growth is happening pretty much everywhere across the country, with Florida and Texas leading the way. orate further?

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Sellers Marketing Inventory Contracts 492

Housing Wire

FEBRUARY 6, 2023

Altos Research Weekly Chart Hopefully, we will get the seasonal inventory push sooner in 2023 than we did in the last two years. 27 – Feb 3, 2023): Fell From 465,654 t o 456,990 Same week last year (Jan. And should we be concerned if new listing data doesn’t grow much this year? Weekly inventory change (Jan.

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Inventory Housing Market Marketing New Listings 462

Housing Wire

JANUARY 9, 2023

Does that mean we are heading back to all-time lows in inventory again for 2023? 6, 2023): Fell from 490,809 to 471,349 Same week last year: (Dec. What we don’t want to happen this year is a decline in new listing data on a yearly basis. If you haven’t checked out my 2023 forecast, read that here.

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Inventory Housing Market Marketing New Listings 541

Housing Wire

SEPTEMBER 22, 2022

Existing home sales have more legs to go lower, especially now that new listing data is falling. A traditional primary resident seller is also a buyer, which means if they don’t list, they’re not just taking a potential home to be bought off the table — they’re taking a future sale off the books as well.

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Inventory Housing Market New Listings Mortgage 454

Housing Wire

JANUARY 16, 2023

One of my biggest concerns for housing started at the end of June 2022: once mortgage rates got above 6%, the new listing data began to decline faster and earlier than normal. This is a problem for the existing home sales market since a traditional seller is usually also a buyer, so the lack of listing growth was a big hit to demand.

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Inventory Housing Market Marketing Mortgage 532

Housing Wire

FEBRUARY 22, 2024

Mortgage interest rates above 6% continued to impact potential homebuyers’ purchase power, while also contributing to a lock-in effect among would-be home sellers who bought their homes years ago with a mortgage rate of 3% to 4.5%,” the association explained in an announcement. from January 2023. from the same time last year.

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New Listings Realtors Real Estate Inventory 437

Housing Wire

AUGUST 30, 2022

I don’t need to see total active listing get back to the historical range of 2-2.5 New listings are declining now. One of the issues with existing home inventory has been that, for the most part, a traditional seller is usually a buyer of a home. This is not encouraging news at all, in my view. From Redfin.

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Inventory New Listings Law Housing Market 383

Housing Wire

OCTOBER 11, 2022

There’s a showdown at the housing market corral between homebuyers and sellers. million active listings, but at just 1.28 Home prices ebb and flow, pricing was working in the sense that sellers met homebuyers to a degree. Image by Brandon Johnson/HW Media.). million today. Now fast forward to 2022.

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Sellers Inventory Housing Market New Listings 501

Listing Spark

MARCH 9, 2023

Episode Summary Aaron Jistel gives an update on the Texas Real Estate Market in Q1 2023 and recaps the 2022 market noting that it had been affected by a sudden increase in mortgage rates, with sales and home values declining. He provides advice on pricing homes and how to negotiate, as well as what to expect for the rest of 2023.

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Real Estate Marketing Sellers Home Value 28