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Affordability, inventory, rates: An economist’s 2024 housing outlook

Inman

Windermere Real Estate Chief Economist Matthew Gardner offers his 2024 forecast for interest rates, home values and the potential for a housing market recovery.

Inventory 120
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DataDigest: How and where homebuilders are closing deals

Housing Wire

The Western pessimism is also unsurprising given the year-over-year declines Western states have seen in home values. Builders reported covering closing costs, offering discounted or free features, helping buyers sell their existing home and providing other incentives. 2019 level. If the nation’s largest homebuilder, D.R.

Inventory 431
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How the housing market will evolve in 2023

Housing Wire

It will take all of this year and into 2024 for it to come back down to the Fed’s target. Inventory What does that mean for housing? Until then, home values will slowly decline, most assuredly in high-cost areas and in areas of the country that benefited the most from rampant appreciation during the pandemic.

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SmartZip Review: Can data improve your prospecting game?

Housing Wire

SmartZip uses predictive analytics to pinpoint likely sellers from 6 to 18 months in advance, offering a huge advantage in today’s low inventory market. This snapshot can give you insight into how home values are performing for the market you want to focus on.

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What Fed rate cuts in 2024 will mean for homebuyers

Housing Wire

While the central bank did not completely rule out the possibility of a rate increase in 2024, that action seems unlikely. by the end of 2024, suggesting three 25 basis points (bps) cuts from current levels. These cuts will allow mortgage rates to fall faster throughout 2024. in 2025, indicating four more 25 bps cuts. “The

Inventory 466
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Think US home prices are high? At least we aren’t Canada

Housing Wire

This was my best attempt to convince the housing bubble boys that what they believed in is more fabrication than reality before the years 2020-2024. It’s now evident that housing did not collapse and in fact home prices are savagely unhealthy. Even though nominal home prices never declined, the growth rate in pricing cooled.

Buyers 530
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The Current State of The Homebuilding Industry

Eppraisal

From COVID-19 interventions to supply chain disruptions to record inflation, the hits kept coming against a real estate market that was already experiencing diminished inventories and a growing pool of buyers. Prior to COVID, i.e. March of 2020, inventory was already falling. Until then, the home builders may have to hunker down.