Housing Wire

JULY 2, 2023

We have often discussed that the housing market dynamics changed starting Nov. So the fact that housing demand stabilized and inventory is now negative year over year needs the context that 2022 was a once-in-a-lifetime event. As you can see in the chart below, 2023 inventory growth is very slow compared to 2022.

Inventory 450

Inventory Housing Market Marketing New Listings 450

Housing Wire

JUNE 25, 2023

I would feel much better about the inventory situation if we added an additional 3,000-8,000 houses to the weekly data line from current levels. 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.

Inventory 404

Inventory Housing Market Marketing New Listings 404

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? However, the year-over-year data is still critical to keep track of for the housing market. 6, 2023): Fell from 490,809 to 471,349 Same week last year: (Dec.

Inventory 541

Inventory Housing Market Marketing New Listings 541

Housing Wire

JANUARY 16, 2023

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. 13, 2023): Rose From 471,349 – 472,688. Weekly inventory change: (Jan.

Inventory 531

Inventory Housing Market Marketing Mortgage 531

Housing Wire

FEBRUARY 27, 2023

We created the weekly Housing Market Tracker because housing data has been so wild since 2020. The housing market madness persisted last week as inventory fell and higher mortgage rates took a bigger bite out of purchase application data. A traditional seller is a conventional buyer most of the time.

Housing Market 442

Housing Market Marketing Inventory New Listings 442

Housing Wire

FEBRUARY 6, 2023

Despite mortgage rates briefly falling below the 6% threshold, both housing inventory and mortgage demand fell last week. Let’s dive into the trend lines of the housing market. The show-me part of the housing market starts with this bounce from an extreme bottom. Weekly inventory change (Jan.

Inventory 457

Inventory Housing Market Marketing New Listings 457

Housing Wire

MARCH 23, 2024

However, whenever the 10-year yield falls with duration, as we saw toward the end of 2022 and into 2023, it sends mortgage rates lower, and we can grow sales from these record-low levels. Purchase application data Purchase application data really moves on mortgage rates — something we saw in late 2022 and into 2023.

Mortgage 510

Mortgage Inventory New Listings Housing Market 510

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.

Inventory 532

Inventory Mortgage New Listings Housing Market 532

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

MARCH 6, 2024

Armed with data from HousingWire sister company Altos Research , we can see in minute detail how the housing market responded to the recent 7%-and-higher rate environment and what the market may see again soon. Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates.

Mortgage 433

Mortgage Sellers New Listings Buyers 433

Housing Wire

MARCH 19, 2023

The housing market was crazy again last week. 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. I want to see how the 10-year yield acts this week.

Housing Market 382

Housing Market Marketing Inventory New Listings 382

Housing Wire

FEBRUARY 14, 2024

The housing market is heating up as the spring buying season approaches. Well-priced homes are selling fast, often within 29 days, and that time frame is bound to shorten as the shopping season opens, according to Zillow ’s January market report. In January, one in five houses listed on Zillow included a price cut.

New Listings 414

New Listings Sellers Housing Market Buyers 414

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. However, for now, this is a plus for the U.S.

Inventory 464

Inventory New Listings Mortgage Housing Market 464

Housing Wire

JANUARY 6, 2024

Will the number of homes that take a price cut this year drop below 2023 levels? 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. Time to get this party started!

Inventory 541

Inventory New Listings Housing Market Mortgage 541

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. However, we have entered a tricky period in housing economics where we might have to take this premise more seriously since mortgage rates recently got as low as 2.5% The parts of the U.S.

Mortgage 516

Mortgage Inventory New Listings Sellers 516

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

Housing Market 393

Housing Market Marketing Inventory Sellers 393

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.

Inventory 525

Inventory New Listings Housing Market Sellers 525

Housing Wire

APRIL 18, 2024

This is a byproduct of the qualified mortgage rule of 2010, which has been a game-changer not only for the housing market but for the overall U.S. This scenario is similar to 2023 when rates fell. NAR: Total housing inventory registered at the end of March was 1.11 This is never a good thing for housing.

Inventory 483

Inventory Housing Market New Listings Buyers 483

Housing Wire

DECEMBER 9, 2023

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. This happened even with higher home prices and higher mortgage rates in 2023. Weekly inventory change (Dec.

Mortgage 531

Mortgage Inventory New Listings Sellers 531

Housing Wire

FEBRUARY 4, 2024

Weekly housing inventory data One substantial positive story for 2024 is that we have more housing inventory year over year. I am a very pro-housing supply person and will feel much better about the housing market when we return to pre-COVID-19 levels for total active listings.

Inventory 513

Inventory Mortgage New Listings Housing Market 513

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.

Inventory 483

Inventory New Listings Mortgage Retail 483

Housing Wire

JANUARY 20, 2023

housing market , we just experienced an event that most people never thought could happen. Outside of that time period, everything else from 1982 to 2023 was normal. If you believe people sell to become homeless, then you’re in the group of people that have simply not read housing data for decades.

Inventory 540

Inventory Housing Market New Listings Marketing 540

Housing Wire

FEBRUARY 26, 2024

The average cost of a policy increased 40% in 2023 alone, according to a report by Redfin. Before the new law was enforced, many condo associations were investing their reserves in government-insured instruments, sacrificing their liquidity to generate a return.

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HOA Law Insurance New Listings 477

Housing Wire

NOVEMBER 25, 2023

18): Inventory fell from 569,571 to 564,571 The inventory bottom for 2022 was 240,194 The inventory peak for 2023 so far is 569,898 For context, active listings for this week in 2015 were 1,104,514 New listings data fell weekly but showed positive year-over-year growth. Weekly inventory change (Nov.

Inventory 534

Inventory Mortgage New Listings Buyers 534

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%. I said the 10-year yield would only break below 3.37% if the labor market breaks — this level is the “Gandalf line” I have used all year. Mortgage rates and the 10-year yield We are back!

Mortgage 542

Mortgage Inventory New Listings Sellers 542

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 541

Inventory Mortgage New Listings Sellers 541

Housing Wire

NOVEMBER 9, 2022

However, the housing market did run into one problem in 2020. Inventory levels broke to all-time lows and thus created massive housing inflation quickly, which broke my model. I knew housing would be OK as long as home prices only grew at 23% over five years — 4.6% This means less demand for housing.

New Listings 488

New Listings Inventory Housing Market Sellers 488

Housing Wire

DECEMBER 16, 2023

Because we saw stability in 2023, I was looking for some flat to positive year-over-year growth in the data during the second half of the year. This is what we see, and it’s much needed; we need more new listings and not fewer. Weekly inventory change : (Dec. This was something I talked about on CNBC months ago.

Inventory 533

Inventory New Listings Mortgage Law 533

Housing Wire

JANUARY 13, 2024

So let’s hope for more home sellers in 2024. Weekly housing inventory data Here is a look at the first week of the year: Weekly inventory change (Jan. We can grow new listings from these depressed levels and get more demand. 5-12) : Inventory rose from 499,143 to 505,223 Same week last year (Jan. 2022 21.7%

Inventory 531

Inventory New Listings Retail Mortgage 531

Housing Wire

DECEMBER 23, 2023

housing market and that they need to be pro-housing again. Even with all the drama we have dealt with in 2022-2023, the housing market stayed intact and never broke. However, one thing is sure: from 2020 to 2023 we never saw credit-stressed home sellers. Weekly inventory change : (Dec.15-22)

Housing Market 535

Housing Market Marketing Inventory New Listings 535

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 424

Inventory Sellers Mortgage Marketing 424

Housing Wire

JANUARY 5, 2023

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. So where does all that drama leave us for 2023?

Housing Market 543

Housing Market Marketing Inventory New Listings 543

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%

New Listings 413

New Listings Contracts Inventory Sellers 413

Housing Wire

JANUARY 20, 2023

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. With the exception of May 2020, when the pandemic had virtually shut down housing market activity, this is the lowest level of monthly home sales in 12 years.”

Inventory 382

Inventory Housing Market Realtors Buyers 382

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. The new listing data has been trending at the lowest levels ever for over 12 months now.

Inventory 370

Inventory Mortgage New Listings Sellers 370

Housing Wire

NOVEMBER 21, 2023

The median existing- home price for all housing types in October was $391,800, down from $394,300 in September but up 3.4% While circumstances for buyers remain tight, home sellers have done well as prices continue to rise year-over-year, including a new all-time high for the month of October,” Yun said. “In All four U.S.

Inventory 404

Inventory Realtors New Listings Contracts 404

Housing Wire

SEPTEMBER 22, 2022

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. . Since the summer of 2020, I have talked about what could change the housing market, which was a 10-year yield above 1.94%, which means rates over 4%.

Inventory 450

Inventory Housing Market New Listings Mortgage 450