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 504

Inventory New Listings Housing Market Mortgage 504

Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. Weekly housing inventory data Here is a look at the first week of the year: Weekly inventory change (Jan. 12-19) : Inventory rose from 505,223 to 506,414 Same week last year (Jan. So far, so good in 2024.

Inventory 540

Inventory Mortgage New Listings Sellers 540

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. However, for now, this is a plus for the U.S.

Inventory 446

Inventory New Listings Mortgage Housing Market 446

Housing Wire

NOVEMBER 22, 2023

Going more in-depth than a Fed meeting, our virtual Housing Market Update event provides you with the strategy-building insights needed to operate in 2024. The number of home sales in 2023 will likely be at its lowest level since 2010, and while sales activity will pick up in 2024, transactions will still be below average.

Housing Market 485

Housing Market Marketing Inventory Sellers 485

Housing Wire

NOVEMBER 30, 2023

Homebuyer traffic will increase in 2024, fueled by lower mortgage rates and more existing-home inventory. At the same time, both buyers and sellers will have to reset expectations next year for persistently higher mortgage rates and more negotiations during the transaction.” Existing-home sales will end 2024 at 4.6

Buyers 454

Buyers Housing Market Sellers Inventory 454

Housing Wire

JANUARY 6, 2024

I believe we should get more sellers in 2024 than in 2023, but that doesn’t necessarily mean home prices will fall. Here are the year-over-year price-cut percentages from the first week of the year: 2024 32.8% However, one key for 2024 is finding the seasonal bottom in housing inventory sooner rather than later.

Inventory 541

Inventory New Listings Housing Market Mortgage 541

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. This squeezed inventory even further throughout 2022 and 2023, pushing home prices to record highs month after month.

Inventory 406

Inventory Sellers Mortgage Marketing 406

Housing Wire

DECEMBER 13, 2023

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year. Mortgage rates The experts unanimously foresee lower mortgage rates in 2024, although none expect rates to fall below 6%. million to 5.07

Inventory 466

Inventory Construction Mortgage Buyers 466

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 465

Inventory New Listings Mortgage Retail 465

Housing Wire

NOVEMBER 25, 2023

However, the recent drop in housing inventory has more to do with seasonality factors than lower mortgage rates. Higher mortgage rates did push inventory higher during the seasonal period when it would normally be declining. The question now is what will inventory look like in the spring if mortgage rates keep falling?

Inventory 530

Inventory Mortgage New Listings Buyers 530

Housing Wire

MARCH 7, 2024

Home sellers looking to maximize their sale price may want to avoid the start of the busy spring buying season and list their properties closer to the midpoint of the year, according to a Zillow analysis released Thursday. Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality.

Sellers 397

Sellers Buyers Real Estate Inventory 397

Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). He also expects more sellers to enter the market, as they adapt to prolonged higher rates.

Real Estate 458

Real Estate Inventory Sellers Realtors 458

Housing Wire

JANUARY 4, 2024

In the first week of 2024, mortgage rates continued to stick around the mid 6% mark. While lower mortgage rates are welcome news, potential homebuyers are still dealing with the dual challenges of low inventory and high home prices that continue to rise,” he added. The 30-year fixed-rate mortgage averaged 6.62% as of Jan.

Mortgage 416

Mortgage Inventory Sellers Marketing 416

Housing Wire

MARCH 23, 2024

As rates were hitting year-to-date highs, the fear was that the Fed would go hawkish in their March meeting, which could push mortgage rates toward 8% and tank 2024 demand. 8% for spring 2024. What have 2022, 2023, and 2024 shown us? The growth isn’t just in active inventory but also new listings.

Mortgage 512

Mortgage Inventory New Listings Housing Market 512

Housing Wire

MAY 10, 2022

The relative pressure of supply vs. demand in the housing market is gauged by the level of active inventory. Like dropping barometric pressure, plunging inventory usually foretells stormy conditions: Faster price growth and faster sales. The post When will housing inventory recover? appeared first on HousingWire.

Inventory 395

Inventory Housing Market Construction Sellers 395

Housing Wire

NOVEMBER 21, 2023

“Prospective home buyers experienced another difficult month due to the persistent lack of housing inventory and the highest mortgage rates in a generation,” NAR Chief Economist Lawrence Yun said in a statement. On the bright side, housing inventory rose 1.8% On the bright side, housing inventory rose 1.8% All four U.S.

Inventory 396

Inventory Realtors New Listings Contracts 396

Housing Wire

JULY 5, 2023

Gerli cites data from a company called AllTheRooms to make the case that the Airbnb /short-term rental market is “crashing” and it will have a big impact on inventory. In some markets there are now 2-3x more homes listed on Airbnb than for sale, a situation that has robbed the housing market for inventory,” Gerli wrote in an email.

Inventory 396

Inventory Housing Market Marketing Sellers 396

Housing Wire

DECEMBER 20, 2023

percentage points above the average of four forecasts for the third quarter of 2024 and roughly 0.6 It also provided committee members’ forecasts of what would be the appropriate rate in 2024, which was based on their forecasts of inflation, GDP growth and other economic indicators. in the first half of 2024. 15, just 0.07

Mortgage 414

Mortgage Realtors Real Estate Marketing 414

Sacramento Appraisal Blog

JANUARY 4, 2024

What’s the housing market going to do in 2024? UPCOMING (PUBLIC) SPEAKING GIGS: 01/12/24 Prime Real Estate (private event (I think)) 01/17/24 Gateway Event (private) 01/30/24 Joel Wright & Mike Gobbi Event 9am (on Zoom here) 2/09/24 […] The post Real estate trends to watch in 2024 first appeared on Sacramento Appraisal Blog.

Real Estate 325

Real Estate Housing Market Appraisal Marketing 325

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 471

Inventory Marketing Housing Market New Listings 471

Housing Wire

DECEMBER 1, 2023

Based on annual changes to an index of national home prices, conforming loan limits for mortgages backed by Fannie Mae and Freddie Mac on one-unit properties will be $766,550 in 2024. on an annual basis in 2024. The FHFA’s increase for conforming loan limits in 2024 follows a formula that tracks increases in national home prices.

Finance 408

Finance Buyers Mortgage Inventory 408

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

MARCH 28, 2024

“Ongoing job gains are clearly increasing demand along with more inventory.” from January to February due to steadily growing inventory. Overall, active inventory grew 14.8% An influx of more affordable inventory also granted home prices a certain stability compared to a year ago, according to Realtor.com.

Inventory 441

Inventory Realtors Contracts Sellers 441

Housing Wire

DECEMBER 9, 2023

Weekly housing inventory data We will start with the price cut data percentage because it deserves a detailed explanation. Now lets take a look at the weekly inventory data. Last year, according to Altos Research , the seasonal peak for housing inventory was Oct. Weekly inventory change (Dec.

Mortgage 527

Mortgage Inventory New Listings Sellers 527

Lamacchia Realty

FEBRUARY 14, 2024

ARE YOU A "WANT-TO-BE" SELLER IN 2024? From low inventory levels to increasing mortgage rates , the real estate landscape has experienced a multitude of changes and challenges over the last several years, leaving many sellers wondering when the “right” time to list would be given current market conditions.

Sellers 65

Sellers Realtors Buyers Inventory 65

Housing Wire

JANUARY 23, 2024

With the coming together of interest rate drops, the persistent, continued low inventory levels and 2023 being recorded as the slowest year for U.S. This decline, coupled with the aforementioned low inventory levels, is set to rekindle suppressed buyer demand. Will we get more inventory? The strategy has changed for buyers.

Real Estate Agent 427

Real Estate Agent Real Estate Buyers Agents 427

Housing Wire

MARCH 18, 2022

Inventory has broken to all-time lows, but it doesn’t look like the year-over-year data will be positive at all this year unless demand softens up. NAR Research : Unsold inventory sits at a 1.7-month NAR Research : Unsold inventory sits at a 1.7-month However, negative year-over-year inventory is not what we want to see.

Housing Market 542

Housing Market Marketing Inventory Sellers 542

Housing Wire

MARCH 6, 2024

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. percentage points—sellers take notice. 31% in 2023-2024. in 2019-2020, 16.9-17.2%

Mortgage 407

Mortgage Sellers New Listings Buyers 407

Housing Wire

DECEMBER 14, 2023

Powell on Wednesday announced that the Fed anticipates making three 25 basis point rate cuts in 2024 and four in 2025, which should help bring mortgage rates further down in 2024. This harms inventory as homeowners are reluctant to let go of their low mortgages. One LO said he quoted an FHA borrower at 5.7%.

Mortgage 485

Mortgage New Listings Loan Officers Inventory 485

Housing Wire

DECEMBER 7, 2023

As the real estate market continues to grapple with high interest rates and low inventory, agents entering the market are looking for affordable client relationship management (CRM) tools that offer a cost-effective means to automate and manage client interactions. housing industry.

Real Estate 389

Real Estate Real Estate Agent Tools Agents 389

Housing Wire

FEBRUARY 22, 2024

In fact, by the end of January, for-sale housing inventory was at 1.01 While inventory is less depleted, it remains well below the pre-pandemic level of January 2019. There were 1 million existing homes on the market at the end of January, compared to an inventory of 1.59 million units, up 0.2% from December and up 3.1%

Inventory 417

Inventory Sellers Buyers Realtors 417

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. The call was that if mortgage rates rose above 7.25% , we would see more inventory growth — between 11,000-17,000 weekly. Now, we see the seasonal inventory decline. What a week!

Mortgage 542

Mortgage Inventory New Listings Sellers 542

Appraisal Buzz

APRIL 11, 2024

The mortgage rate lock-in effect, limited inventory of homes for sale, and constrained affordability continue to dampen sales activity and will likely remain headwinds for the remainder of 2024.” “Yet, Regardless of the five Ds, limited inventory will continue to constrain existing-home home sales.

Housing Market 195

Housing Market Marketing Inventory Sellers 195

Housing Wire

DECEMBER 20, 2023

Housing inventory fell 1.7% Meanwhile, unsold inventory sat at a 3.5-month Sales were subdued in 2023 because of high mortgage rates and a lack of inventory Overall, Lisa Sturtevant, chief economist at Bright MLS, expects to see 4.1 Higher rates and lack of resale inventory dampened the housing market in 2023.

Inventory 391

Inventory Housing Market Realtors Buyers 391

Housing Wire

JANUARY 11, 2024

Even this slight uptick in demand, combined with inventory that remains tight, continues to cause prices to rise faster than incomes, meaning affordability remains a major headwind for buyers. Most housing professionals expect mortgage rates to continue trending downwards in 2024.

Mortgage 397

Mortgage Sellers Inventory Buyers 397

Housing Wire

DECEMBER 16, 2023

Weekly housing inventory data Weekly active listing data is declining now like it always does every year at this time due to seasonality. Higher mortgage rates resulted in higher inventory during part of the fall and forced the seasonal decline in inventory to start later this year. Weekly inventory change : (Dec.

Inventory 535

Inventory New Listings Mortgage Law 535

Housing Wire

DECEMBER 7, 2022

These were forced credit sellers, which means these sellers don’t sell to buy a home like a traditional seller does. 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

Housing Market 543

Housing Market Mortgage Marketing Inventory 543