Housing Wire

DECEMBER 4, 2023

Now that Thanksgiving is behind us and December is well under way, we can start looking ahead to the 2024 housing market. New listings and home sales remain low this week while available inventory of unsold homes is finally falling across the country after rising with mortgage rates late into November.

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Housing Market Marketing Inventory New Listings 491

Housing Wire

APRIL 15, 2024

We saw a big jump in mortgage rates last week. The 30-year fixed rate mortgage, according to the HousingWire Mortgage Rates Center , is now over 7.2% — that’s 50 basis points above where we were at the start of the year. At that time, most of the voices in the media assumed that mortgage rates had peaked and would fall by now.

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Inventory Mortgage New Listings Sellers 432

Housing Wire

MAY 13, 2024

Home sales continue to run just a little ahead of last year’s pace, but with mortgage rates in the 7s, there are a ton of potential homebuyers sitting on the sidelines. All in all, you can see how effectively 7% mortgage rates have slowed the housing market. real estate market as of mid-May 2024. That’s up 1.5% for the week.

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New Listings Contracts Inventory Sellers 485

Appraisal Today

MARCH 8, 2024

Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!! From the subtle upturn in existing home sales to the moderated growth of new home sales and the looming shadow of rising mortgage rates, the market’s complexion is changing.

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Housing Wire

APRIL 9, 2024

Mortgage rates remained unchanged last week despite the release of the stronger-than-expected jobs report. HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.16% on Tuesday, unchanged from one week earlier. At the same time one year ago, the 30-year fixed rate averaged 6.46%.

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Housing Wire

APRIL 29, 2024

The weekly volume of new listings is now higher than at anytime last year. Mortgage rates are at 7.5% In addition to a higher number of new listings, there were also more new contracts started this week than in any week in 2023. Mortgage rates are now topping 7.5%, the highest levels seen this year.

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Housing Wire

MARCH 25, 2024

So while we can see currently the prices of home sales holding up, the signals for the end of 2024 and into 2025 seem to suggest we’re heading for flat home prices. Mortgage rates seem to have finally settled down. The longer mortgage rates stay higher, the more inventory will grow closer to the old levels. A year with 5.5

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Housing Wire

JANUARY 8, 2024

Based on the trends we can see after the start of the year, I’ll project 2024 will see about 15% home sales growth over 2023. These are very clear trends as we start the new year. 2023 started with recovery, but slowed down in Q3 as mortgage rates hit 8%. But, 2024 is starting stronger than last year.

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Real Estate Marketing Inventory New Listings 496

Housing Wire

APRIL 1, 2024

As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. New listing volume last week was 18% more than a year ago. All of these signals point to rising home sales in 2024. That brings us to 367,000 single-family homes in the contract pending stage.

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Inventory New Listings Contracts Sellers 466

Housing Wire

FEBRUARY 20, 2024

Mortgage rates are back over 7%. The economy has continued to be strong, so mortgage rates have defied expectations and remained very high. New listings rise New listings continue to show us that more sellers are interested in this market this year. That’s because mortgage rates have jumped over 7% again.

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Mortgage Inventory Sellers New Listings 504

Housing Wire

APRIL 13, 2024

Mortgage rates headed higher last week after the CPI inflation report , but now, with news of a wider war in the Middle East, should we expect even higher rates? 10-year yield and mortgage rates There is nothing good to report on mortgage rates from last week. The week ahead will answer some of those questions early on.

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Inventory Mortgage New Listings Retail 491

Housing Wire

APRIL 22, 2024

After a couple weeks of big jumps for mortgage rates , we’re still seeing relatively surprising strength in the housing market. We’re watching a few key factors to see if homebuyers are backing off in the face of increased mortgage rates. With the most recent mortgage rate jump, inventory growth has also accelerated.

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Inventory New Listings Sellers Contracts 528

Housing Wire

MAY 6, 2024

As mortgage rates stay elevated and the number of unsold homes on the market grows — especially in the South — the leading indicators for future home sales prices continue to be softer than the current headlines suggest. That can change if mortgage rates fall dramatically, but the current trends show weakening home prices, not strengthening.

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Housing Wire

MARCH 18, 2024

As we started 2024, the signals in the U.S. At the time, I observed that even if mortgage rates stayed flat, the momentum seemed to be in the cards for broad, slow growth in the market. However, mortgage rates didn’t stay flat. 1 and as of today, March 18, mortgage rates are 30-40 basis points higher than Jan.

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Inventory New Listings Sellers Contracts 441

Housing Wire

APRIL 8, 2024

With the Easter holiday last week, data for housing inventory , new listings and the pace of new contracts started all took a breather from their growth pace. Here’s how 2024 is shaping up: There are now more listings, more active inventory and more sales than a year ago. So demand isn’t increasing.

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Inventory Contracts New Listings Sellers 473

Housing Wire

JANUARY 22, 2024

For several weeks, I’ve been reporting data that shows the housing market growing in 2024. Those metrics, specifically the pace of new listings and new sales contracts, slowed this week. Our immediate sales metric of homes that get offers within a couple days of listing also slowed. 50,000 new pendings.

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Real Estate New Listings Contracts Inventory 466

Housing Wire

MARCH 11, 2024

Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The only way inventory would grow in 2024 is if mortgage rates climbed. But the evidence is the opposite.

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Inventory New Listings Sellers Real Estate 508

Housing Wire

OCTOBER 10, 2023

Mortgage rates continue to climb. It’s not uncommon to hear rates quoted over 8% for a 30-year fixed mortgage. 8% mortgage rates are a new reality We’ve been talking about the impact of 8% mortgage rates for months. The path to finally having more selection for homebuyers is through higher mortgage rates.

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Housing Wire

OCTOBER 31, 2023

We may be nearing the bottom in home sales even if mortgage rates don’t decline. At least, that’s what the data seems to suggest as inventory grows and new listings decline at a less aggressive rate than last year. Consumers are more sensitive to changes in mortgage rates than to absolute levels.

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Housing Wire

NOVEMBER 6, 2023

Consumers care about home prices and mortgage rates; the industry cares about transaction volume. If we get lucky with mortgage rates, though, we might just be at the bottom of the housing market recession right now. Remember the Altos rule: If mortgage rates go up, inventory will build in 2024. Housing inventory.

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Housing Wire

JANUARY 16, 2024

Home sellers are starting to ease back into the market, new listings are finally exceeding the levels of a year ago. The longer we stay with mortgage rates higher, the more inventory will build closer to where it used to be. Mortgage rates are higher than they were a year ago. Higher mortgage rates means more inventory.

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Inventory New Listings Sellers Contracts 458

Housing Wire

FEBRUARY 26, 2024

Price reductions ticked up this week for the first time since November in the face of rising mortgage rates. We can see the impact of higher mortgage rates slowing homebuyer demand. Now, mortgage rates are 100 basis points higher. New pendings We’ve been sharing how the sales rate has been trying to expand for 2024.

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Sellers Inventory New Listings Contracts 441

Housing Wire

FEBRUARY 28, 2024

If you’re struggling to market your business on social media, or worse, haven’t even started yet, you might be in for a rude awakening in 2024. Who doesn’t want to learn mortgage secrets banks don’t want you to know? Visit Coffee & Contracts 3. Social media gives you the perfect opportunity to build a brand that resonates.

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Real Estate Marketing Tools Contracts 458

Housing Wire

OCTOBER 16, 2023

It’s quite clear that homebuyers have hit the brakes waiting to see if mortgage rates recede from these multi-decade highs. There were only 57,000 new listings plus another 10,000 immediate sales. There are only 326,000 single-family homes in the contract pending stage. Note the inventory climb is not from sellers.

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Inventory Contracts Sellers New Listings 458

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. Things are starting to look up in 2023 with a break in mortgage rates. [00:05:15]-[00:05:31] months to 2.7

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Housing Wire

SEPTEMBER 12, 2023

There are no signs of any surge in listings, and as a result we’ve seen a floor on home prices. New contracts dipped as affordability is out of reach for so many. Last year inventory was about to start climbing again with that autumn spike in mortgage rates. The light portion of the bar are the new contracts that week.

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Housing Wire

JANUARY 19, 2024

Today, we need context for the growth we’ll see in existing home sales in 2024. We don’t have any data that shows sales are crashing from this low level: this is key when looking at the future because it does give us a place to grow sales as long as mortgage rates fall. This is a positive for housing in 2024 as most sellers are buyers.

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Housing Wire

SEPTEMBER 19, 2023

It’s not unusual for a little jump in new listings in September. Obviously, mortgage rates have been stubbornly over 7% for a couple of months. That’s a change in expectation of mortgage rates. Buyers early in 2023 had slightly lower rates than now and were optimistic that mortgage rates would go lower still.

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Housing Market Marketing Inventory New Listings 450

Housing Wire

AUGUST 1, 2023

Even as mortgage rates rose, and affordability was pushed out of reach for many potential homebuyers, there are still sufficient buyers who can afford these prices and these rates. After the mortgage rate spike in September 2022, we got significantly more bearish on home prices for 2023. If mortgage rates increase to the 7.5%

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Housing Wire

JULY 24, 2023

Pending Sales There are now 378,000 single-family homes in contract. There were 68,000 new contracts for single-family homes this week. In the chart below, the light portion of each bar represents the new contracts each week. But, there were another 15,000 condos and townhomes that went into contract this week.

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Will Springer Realtor

DECEMBER 19, 2023

The region’s real estate scene in 2023 will be remembered for rising home prices and scant new listings. As the year dims, all eyes fixate on 2024’s potential: a hopeful dance fueled by dreams of lower rates and a wave of new homes for sale. Here are some of the big questions to ponder in 2024.

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Listing Spark

FEBRUARY 7, 2024

As we enter into 2024, we are stepping out of one of the most turbulent years for real estate in Texas in some time. National mortgage originations closed the year at less than $1.5 2024 Texas Housing Market Predictions Coming out of a brutal year for real estate in Texas, we are expecting to find some relief in 2024.

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Appraisal Today

MARCH 1, 2024

According to the Institute for Luxury Home Marketing’s February 2024 report¹, the single-family luxury home segment is showing promising signs of growth. Both inventory levels and new listings increased significantly in recent months, leading to an 18 percent increase in sales and a 1.6 Top list of luxury home markets in 2024.

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Will Springer Realtor

FEBRUARY 13, 2024

We know buyers are eager to purchase properties, as 39% more homes went under contract in January (1719 units) compared with the previous – admittedly quiet – month. And, despite the rise in new listings, the number of homes still on the market on Feb. fewer listings than December and 28% below January 2023 figures.

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Lamacchia Realty

JANUARY 25, 2024

With rates trying to reach equilibrium after their nosedive in 2020, everyone has had to accept that pandemic-era rates are a thing of the past and therefore higher monthly mortgage payments are here to stay. Lowest number of homes listed in recorded history, decreased by 18.7% Average prices for closed sales increased by 3.4%

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Inventory Sellers Contracts Buyers 70

Lamacchia Realty

JANUARY 25, 2024

As interest rates sought to stabilize following their sharp decline in 2020, both buyers and sellers had to acknowledge the end of the era of historically low pandemic-induced rates, and the beginning of higher monthly mortgage payments. Additionally, it provides predictions for what is anticipated to unfold in real estate in 2024.

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Lamacchia Realty

JANUARY 30, 2024

The attempt to restore equilibrium in interest rates, following their drastic drop in 2020, brought about then of pandemic-induced rates, resulting in a sustained presence of higher monthly mortgage payments. Furthermore, it delves into predictions for the real estate landscape in 2024. Will the 2024 Real Estate Market Improve?

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