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. So far, so good in 2024.

Inventory 541

Inventory Mortgage New Listings Sellers 541

Housing Wire

MARCH 30, 2024

The best housing story in 2024 is that inventory is growing — both active inventory and new listings. With mortgage rates at the current levels, inventory is still below my expectations, but it’s still such a positive story that I had to discuss it on CNBC last week. 2022: 17.2%

Inventory 485

Inventory New Listings Mortgage Housing Market 485

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. Mortgage rates and the 10-year yield The 10-year yield ended the week roughly flat.

Inventory 536

Inventory Mortgage New Listings Buyers 536

Housing Wire

OCTOBER 28, 2023

31, 2022, that mortgage rates would hit 8% in 2023, you would reasonably assume housing inventory would sky rocket higher, home prices would fall noticeably, and the number of price cuts would be higher year over year. Last year, the seasonal peak for inventory was Oct. Weekly inventory change (Oct.

Inventory 508

Inventory Mortgage New Listings Marketing 508

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.

Inventory 473

Inventory New Listings Mortgage Housing Market 473

Housing Wire

JANUARY 28, 2024

But, even with mortgage rates higher this year than last year, demand is rising. Once I make some holiday adjustments, we have eight weeks of a positive trend since mortgage rates fell from the 8% high , and as of now, the slightly higher rates we’ve seen recently haven’t impacted the data just yet. This is common in January.

Inventory 520

Inventory New Listings Mortgage Marketing 520

Housing Wire

SEPTEMBER 16, 2023

What’s going on with housing inventory ? The last four weeks of new listings data have been the most volatile since mortgage rates breached 6% in 2022. One week, we had the biggest decline in new listings data all year, which might indicate Americans are giving up on listing their homes.

Inventory 491

Inventory New Listings Housing Market Mortgage 491

Housing Wire

MAY 11, 2024

Mortgage rates and the bond market have fallen a bit recently and the spreads between the 10-year yield and 30-year mortgage rate have improved over last year’s levels. In the past two years, demand has always picked up whenever mortgage rates have moved lower with some duration. That’s a 0.50% difference in rates.

Mortgage 450

Mortgage Inventory New Listings Housing Market 450

Housing Wire

FEBRUARY 10, 2024

So far in 2024, fewer homes are taking price cuts than in 2023, and this trend is on the verge of breaking below the 2023 lows in price cuts percentages. While weekly inventory is still falling, we have year-over-year growth in total active listing and new listings data.

Inventory 515

Inventory New Listings Retail Mortgage 515

Housing Wire

MARCH 23, 2024

Mortgage rates had a chance to break to new highs this year, but the Federal Reserve took a moderate tone at the last Fed meeting. We saw the benefit of lower mortgage rates with the last two existing home sales reports, which showed growth. Then mortgage rates rose, facilitating five weeks of negative purchase application data.

Mortgage 515

Mortgage Inventory New Listings Housing Market 515

Housing Wire

AUGUST 27, 2023

Did the recent move in higher mortgage rates impact the new listings data more than normal? I hope this isn’t the case, but we had a noticeable move lower in new listings last week. The Fed spoke at Jackson Hole last Friday but that didn’t move mortgage rates much. Weekly active listings rose by only 6,618.

New Listings 370

New Listings Mortgage Inventory Marketing 370

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? We might have reached the peak in inventory this week.

Inventory 491

Inventory New Listings Mortgage Retail 491

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 533

Inventory New Listings Retail Mortgage 533

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 apps were flat week to week.

Inventory 370

Inventory Mortgage New Listings Sellers 370

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

JULY 9, 2023

The slow zombie crawl of housing inventory went lower last week as inventory was negative week to week. In addition, mortgage rates rose to a yearly high as labor data stayed firm and purchase apps had their first negative week after three straight weeks of positive growth. The 10-year yield is close to yearly highs as the U.S.

Inventory 485

Inventory Housing Market Marketing New Listings 485

Housing Wire

JUNE 11, 2023

After seeing disappointing inventory growth two weeks ago , which I chalked up to the Memorial Day holiday, I was hoping for a big push in active listings last week, but that didn’t happen. And, the recent uptick in mortgage rates to almost 7% slowed purchase application data again. First, it took the longest time in U.S.

Inventory 517

Inventory Housing Market Marketing New Listings 517

Housing Wire

APRIL 16, 2023

The seasonal housing inventory bottom evaded us again last week as active listings fell and new listing inventory decreased. Purchase application data rose again, with more positive than negative data in 2023. Mortgage rates didn’t move too much last week but ended the week on a higher note at 6.50%.

Inventory 538

Inventory Housing Market Marketing New Listings 538

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. The other focus should be where mortgage rates go; only a little happened last week.

Inventory 520

Inventory Housing Market Marketing New Listings 520

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. We had a lot of drama over the week between Federal Reserve meetings and banking stress, and mortgage rates and purchase applications both fell.

Inventory 491

Inventory Housing Market Marketing New Listings 491

Housing Wire

SEPTEMBER 10, 2023

Last week we saw a noticeable decline in new listings and active inventory was barely positive. Does this mean housing inventory has begun its seasonal decline? Last year, we saw an active listing decline in the same week but then listing growth continued until Oct. However, one week doesn’t make a trend.

Inventory 511

Inventory New Listings Retail Mortgage 511

Housing Wire

FEBRUARY 17, 2024

Will mortgage rates break toward 8% again, making another 2024 data line that looks like a carbon copy of 2023? It’s not part of my 2024 forecast, but since the Federal Reserve likes playing with fire , let’s look at where we are with mortgage rates and their impact on weekly housing data. Serious mortgage rate talk!

Mortgage 535

Mortgage Inventory New Listings Housing Market 535

Housing Wire

MARCH 9, 2024

We survived jobs week and Federal Reserve Chairman Jerome Powell talking to Congress, with mortgage rates ending the week below 7%. But will mortgage rates keep heading lower? If so, what will this do to inventory levels? Given our current economic data and without a new critical global event, this range should stick.

Mortgage 491

Mortgage Inventory New Listings Housing Market 491

Housing Wire

MARCH 26, 2023

These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. Here’s a quick rundown of the last week: The 10-year yield had a Lord of Rings battle at a critical technical level, pushing mortgage rates lower at the end of the week with no real break in the bond market.

Inventory 450

Inventory Housing Market Marketing Mortgage 450

Housing Wire

MARCH 6, 2023

The housing market faced some serious obstacles last week as the 10-year yield broke over 4%, mortgage rates rose to over 7%, purchase apps fell again and we are still trying to find the elusive seasonal bottom for housing inventory. I discussed my theory on why inventory bottoms out later in the year on this HousingWire Daily podcast.

Inventory 504

Inventory Housing Market Marketing New Listings 504

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 410

Inventory Housing Market Mortgage Marketing 410

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 432

Inventory Sellers Mortgage Marketing 432

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 458

Inventory Housing Market Marketing New Listings 458

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 543

Mortgage Inventory New Listings Sellers 543

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. Mortgage rates were again in a small range, hanging near 7%. Purchase apps had a small week-to-week gain.

Inventory 410

Inventory Housing Market Marketing New Listings 410

Housing Wire

NOVEMBER 4, 2023

After mortgage rates spiked to 8% in October, causing a riot in the real estate industry, we had an epic move lower in mortgage rates last week. Does this mean we’ve hit the peak in mortgage rates for this economic cycle? It looks like I will bat a whopping 0 in 2023 for my higher rates inventory growth level forecast.

Mortgage 500

Mortgage Inventory New Listings Real Estate 500

Housing Wire

APRIL 3, 2023

Housing demand grew and inventory levels fell again while mortgage rates rose. Mortgage rates rose to 6.57%. Active inventory fell by 3,141, and new listing data fell again and is still trending at all-time lows. So April will be very telling on the weekly housing inventory with Altos Research.

Inventory 491

Inventory Housing Market Marketing New Listings 491

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. Now lets take a look at the weekly inventory data.

Mortgage 533

Mortgage Inventory New Listings Sellers 533

Housing Wire

JULY 23, 2023

The slow rise of housing inventory this year has made the existing home sales market savagely unhealthy again. However, last week was good; we had less inventory growth than I would like to see, but it’s better than the past few weeks. Mortgage rates rose again and purchase apps saw a mild decline week to week.

Inventory 370

Inventory Housing Market Marketing New Listings 370

Appraisal Buzz

MARCH 26, 2024

homes for sale climbed 5% during the four weeks ended March 17, the biggest year-over-year uptick since May 2023, according to Redfin. As of March 17, there were roughly 795,645 active listings. There were roughly 88,902 new listings added during that same four weeks – and increase of 15% and the biggest increase since June 2021.

New Listings 195

New Listings Buyers Marketing Inventory 195

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 541

Inventory Housing Market New Listings Marketing 541

Housing Wire

NOVEMBER 18, 2023

Did the recent move lower in mortgage rates turn the housing market positive? With mortgage rates moving almost 75 basis points lower from the highs, does the data show that demand has improved? I talked about how much lower mortgage rates can go from here in this recent podcast.

Mortgage 491

Mortgage Inventory New Listings Housing Market 491