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Lower mortgage rates are stabilizing the housing market

Housing Wire

Since they were distressed forced sellers, inventory skyrocketed in 2006 and stayed very elevated in 2007 and 2008. Total inventory levels. NAR: Total Inventory levels 1.22 million Historically inventory levels range between 2 million and 2.5 Mortgage rates went from a low of 2.5% to a high of 7.37% — purely savage.

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Existing home sales data shows extent of housing inflation

Housing Wire

With the home-price growth we had in 2020 and 2021, my five-year price-growth model that I set for 2020-2024 of 23% was already smashed in just two years. Existing home sales have more legs to go lower, especially now that new listing data is falling. Total Inventory data fell in this report from 1.31 million to 1.28

Inventory 458
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The standoff between homebuyers and sellers

Housing Wire

Inventory, which has been falling for years, broke to all-time lows in 2020. We didn’t have a seasonal push in inventory in 2020, and things worsened in 2021. Of course, this has brought back some inventory, as demand weakness always creates inventory through accumulation. million active listings, but at just 1.28

Sellers 504
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Remove all bathtubs from home?

Appraisal Today

I’m always looking for something new = Shifting Tides in the Housing Market: A February 2024 Perspective By Kevin Hecht Excerpts: As we navigate through the early months of 2024, the U.S. A1: Back Half of 2024? – My wild guess is that rate cuts will be in the back half of 2024. Not in March. Not in June.

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The savagely unhealthy housing market is over

Housing Wire

This facilitated the biggest decline in existing home sales for a single year that we will ever see in modern-day history due to the high level of sales in January of 2022. However, the second is that inventory is simply too low, with too many people chasing too few homes, which means too many bidding wars.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

Housing inventory nationwide flipped from oversupply to undersupply about a dozen years ago when consumers and the banking industry began to slowly rebound financially from the Great Recession. America’s shortfall is most acute with the most vulnerable, as affordable housing inventory has been shrinking for decades.

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Will Springer Realtor - Untitled Article

Will Springer Realtor

“The number of homeowners deciding to sell continues to lag, but inventory and time on market continue to [mostly] climb, reflecting still-hesitant buyers.” The 20-story luxury condo Mari is under construction with a 2024 target opening. 1-story, mid-century modern home with basement. It’s a 4-bed, 4.75-bath bath , 3880 sq.