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 422

Inventory New Listings Mortgage Housing Market 422

Housing Wire

DECEMBER 30, 2023

Going into 2023, people thought housing inventory would skyrocket, home prices would crash, and we would see the housing market of 2008 all over again. Looking back on 2023, the inventory story was a big surprise even as mortgage rates headed toward 8%, as the data below will show. Weekly inventory change (Dec.

Inventory 500

Inventory New Listings Housing Market Mortgage 500

Housing Wire

JANUARY 28, 2024

But, even with mortgage rates higher this year than last year, demand is rising. Purchase application data As we get closer to the end of the first month of 2024, forward-looking purchase application data looks good. Weekly housing inventory data Here is a look at last week: Weekly inventory change (Jan.

Inventory 520

Inventory New Listings Mortgage Marketing 520

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 440

Inventory New Listings Mortgage Housing Market 440

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 528

Inventory Mortgage New Listings Buyers 528

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 511

Mortgage Inventory New Listings Housing Market 511

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.

Inventory 525

Inventory New Listings Retail Mortgage 525

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 509

Inventory New Listings Retail Mortgage 509

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 501

Inventory Mortgage New Listings Marketing 501

Housing Wire

JANUARY 6, 2024

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. Now that mortgage rates have fallen and as we start the brand new year, we need to focus on this data line more.

Inventory 541

Inventory New Listings Housing Market Mortgage 541

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 384

Mortgage Inventory New Listings Housing Market 384

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.

Mortgage 514

Mortgage Inventory New Listings Housing Market 514

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 456

Mortgage Inventory New Listings Housing Market 456

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? Last year, according to Altos Research , the seasonal peak for housing inventory was Oct.

Inventory 459

Inventory New Listings Mortgage Retail 459

Appraisal Buzz

MARCH 26, 2024

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. The surge in listings is bringing some buyers back to the market, the firm says. The median U.S. home-sale price is up 5.3%

New Listings 195

New Listings Buyers Marketing Inventory 195

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 524

Mortgage Inventory New Listings Sellers 524

Housing Wire

MARCH 16, 2024

It’s spring 2024 and we have a Federal Reserve meeting this week. The 10-year yield is at the same critical point as last year before the Fed went hawkish and sent mortgage rates to 8% and the 10-year yield to 5%. This is what happened last year when the 10-year yield headed to 5% and we had 8% mortgage rates.

Housing Market 450

Housing Market Inventory New Listings Marketing 450

Housing Wire

FEBRUARY 7, 2024

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. Mortgage rates followed suit, walloping buyers’ purchasing power.

Inventory 400

Inventory Sellers Mortgage Marketing 400

Housing Wire

DECEMBER 14, 2023

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. on Thursday.

Mortgage 485

Mortgage New Listings Loan Officers Inventory 485

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 542

Mortgage Inventory New Listings Sellers 542

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? Let’s see how this looks in the critical time from the second week of January to the first week of May 2024.

Mortgage 457

Mortgage Inventory New Listings Housing Market 457

Housing Wire

NOVEMBER 21, 2023

Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. On the bright side, housing inventory rose 1.8% On the bright side, housing inventory rose 1.8% lower than October 2022 when inventory was at 1.22 from September, with 1.15

Inventory 391

Inventory Realtors New Listings Contracts 391

Housing Wire

SEPTEMBER 3, 2023

We had a crazy jobs week last week, with tons of data that the Federal Reserve was happy to see, but did those labor reports mean we’ve hit peak mortgage rates for 2023? Mortgage rates did fall, purchase application data rose and new listings data came back to trend. Weekly inventory change : (Aug.

Mortgage 455

Mortgage Inventory New Listings Marketing 455

Housing Wire

NOVEMBER 18, 2022

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. However, I knew the years 2020-2024 would see better demand from the bump in demographics.

Inventory 470

Inventory Marketing Housing Market New Listings 470

Housing Wire

MARCH 6, 2024

Housing professionals already know that high mortgage rates are bad for business. But with mortgage rates ascending past 7% according to HousingWire’s Mortgage Rates Center , those hopes have so far been dashed in 2024. Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates.

Mortgage 400

Mortgage Sellers New Listings Buyers 400

Housing Wire

APRIL 18, 2024

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. Of course this isn’t the healthiest housing inventory story. However, that hasn’t been the case so far in 2024.

Inventory 484

Inventory Housing Market New Listings Buyers 484

Housing Wire

DECEMBER 16, 2023

The Federal Reserve played the good grinch for Christmas this year and delivered the best gift for homebuyers nationwide, leading to lower mortgage rates. The 10-year yield and mortgage rates fell together after the Fed meetings, which gave us mortgage rates under 7% last week. Weekly inventory change : (Dec.

Inventory 535

Inventory New Listings Mortgage Law 535

Housing Wire

JANUARY 26, 2024

The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. million and a 15.8%

Contracts 456

Contracts Housing Market Construction Inventory 456

Housing Wire

SEPTEMBER 22, 2023

Soaring mortgage rates and home prices are continuing to dampen affordability for homebuyers. 17, according to a new report from Redfin. Combined with elevated mortgage rates, monthly housing payments are at an all-time high. 17, total active listings were at 806,701, down 16.2% New listings are down 6.7%

New Listings 436

New Listings Inventory Buyers Mortgage 436

Housing Wire

DECEMBER 7, 2022

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? However, mortgage rates have fallen more than 1% since the recent highs, so it’s time to look at the data to explain how to interpret it.

Housing Market 542

Housing Market Mortgage Marketing Inventory 542

Housing Wire

FEBRUARY 29, 2024

Meanwhile, new home sales , which are also a measure of contract signings, reached a seasonally adjusted annual rate of 661,000 in January, up 1.5% Overall active inventory improved 7.9% However, consumers are showing extra sensitivity to changes in mortgage rates in the current cycle, and that’s impacting home sales.”

Contracts 389

Contracts Inventory New Listings Realtors 389

Housing Wire

NOVEMBER 9, 2022

In the previous expansion, one of my long-term calls was that the MBA purchase application data will never hit the volume level of 300 until the years 2020-2024. The years 2020-2024 were going to be the time when total home sales could finally reach 6.2 Mortgage rates are higher now than back then, and the price gains are more massive.

New Listings 481

New Listings Inventory Housing Market Sellers 481

Housing Wire

FEBRUARY 23, 2024

Existing home sales showed a jump in sales, which was anticipated by most as we had positive, forward-looking housing data due to mortgage rates falling from 8.03% to 6.63%. This is nothing dramatic, but similar to what we saw in 2023 when mortgage rates rose from 5.99% up to 7.25%. From NAR : Total existing-home elevated 3.1%

Inventory 441

Inventory Mortgage New Listings Marketing 441

Housing Wire

DECEMBER 21, 2022

In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! “The principal factor was the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. Housing inventory. Confused by this?

Inventory 515

Inventory New Listings Housing Market Sellers 515

Housing Wire

MAY 3, 2024

Thanks to high mortgage rates , mortgage refinance rates, and even higher home prices , the vibe among homebuyers has been fairly bleak these past couple months. In Denver in particular, new listings increased 29.12% month-over-month and 22.63% year-over-year. In 2024, the housing market is set to continue on.

Inventory 325

Inventory Lending Real Estate Housing Market 325

Housing Wire

AUGUST 3, 2022

To say that mortgage rates have been on a wild Mr. Toad’s ride in 2022 is an understatement. People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% It’s savage man, truly savage with the mortgage rate rise.

Mortgage 504

Mortgage Inventory Sellers Housing Market 504

Housing Wire

SEPTEMBER 22, 2022

Even though this was a beat of estimates, the sales decline trend due to higher mortgage rates and home prices continues. 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. . I am a big fan of inventory to 2019 levels.

Inventory 451

Inventory Housing Market New Listings Mortgage 451