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.

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Mortgage Inventory New Listings Housing Market 536

Housing Wire

MARCH 2, 2024

The mortgage rate lockdown premise says that if rates rise, inventory can’t grow meaningfully. The idea is that nobody will trade their low mortgage rates to buy another home — even though this happened every week last year. With mortgage rates higher, will this stop inventory from growing year over year?

Inventory 535

Inventory Mortgage New Listings Housing Market 535

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.

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Housing Market Inventory New Listings Marketing 507

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.

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Mortgage New Listings Loan Officers Inventory 496

Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. I will watch for rising mortgage rates to see if they change the weekly data. I will watch for rising mortgage rates to see if they change the weekly data. So far, so good in 2024.

Inventory 541

Inventory Mortgage New Listings Sellers 541

Sacramento Appraisal Blog

FEBRUARY 14, 2024

Pulling comps in 2024 is tough. I also have some market recap visuals to unpack what’s been happening in 2024 so far. UPCOMING SPEAKING GIGS: 2/19/24 Matt the Mortgage Guy YouTube […] The post The challenge of pulling comps in 2024 first appeared on Sacramento Appraisal Blog. Think about it this way.

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Appraisal Marketing Mortgage New Listings 308

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? Mortgage rates and the 10-year yield The 10-year yield is the key for all my housing work, so I focus on it religiously. We haven’t broken either yet.

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Mortgage Inventory New Listings Housing Market 500

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.

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Mortgage Sellers New Listings Buyers 456

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. We created this weekly tracker at the end of 2022 to give people a live weekly outlook on everything that drives the housing market and which factors to follow.

Inventory 519

Inventory New Listings Housing Market Mortgage 519

Housing Wire

FEBRUARY 22, 2024

Mortgage rates continued their ascension toward 7% this week, raising doubts about the approaching spring homebuying season. The 30-year fixed-rate mortgage averaged 6.90% as of Feb. 22, an increase from last week ’s figure of 6.77%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgage 456

Mortgage New Listings Housing Market Buyers 456

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. Still, new listing data is a positive story.

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Inventory New Listings Mortgage Housing Market 493

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. Weekly inventory change (Dec.

Mortgage 534

Mortgage Inventory New Listings Sellers 534

Housing Wire

APRIL 20, 2024

Housing inventory finally hit my target level of growth last week with mortgage rates now over 7.25% , something I couldn’t get all last year. Of course, what is different this year versus last year is that new listing data is growing yearly instead of trending at the lowest levels recorded in history. 2022: 18.7% 2022: 18.7%

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Inventory New Listings Mortgage Finance 511

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 485

Inventory New Listings Mortgage Housing Market 485

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 500

Mortgage Inventory New Listings Housing Market 500

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. Multiple offers, however, are still occurring, especially on starter and mid-priced homes, even as price concessions are happening in the upper end of the market.” from September, with 1.15

Inventory 422

Inventory Realtors New Listings Contracts 422

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.

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Inventory Mortgage New Listings Buyers 537

Housing Wire

APRIL 19, 2024

year over year in the first quarter of 2024, with the median price hitting a record $1.225 million, according to data from Redfin. Redfin defined luxury homes as those estimated to be in the top 5% of their metro area based on market value, while non-luxury homes are those with estimated values in the 35th to 65th percentile.

Luxury Properties 479

Luxury Properties New Listings Buyers Housing Market 479

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 543

Mortgage Inventory New Listings Sellers 543

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. 18: 60,295 Aug. 25: 55,291 Sept.

Mortgage 473

Mortgage Inventory New Listings Marketing 473

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 519

Inventory New Listings Retail Mortgage 519

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. However, this data line accelerates higher when mortgage rates rise, and demand gets hit harder.

Inventory 524

Inventory New Listings Mortgage Marketing 524

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? Now, with five weeks of data in front of us, we can say they have stabilized the market. Mortgage rates went from a low of 2.5%

Housing Market 544

Housing Market Mortgage Marketing Inventory 544

Housing Wire

MAY 8, 2024

After 2010, qualified mortgage laws were in place, meaning everyone getting a mortgage has to be able to repay the loan. You can see the drastic change this made in the Mortgage Bankers Association Credit Availability index , below, which skyrocketed in 2005 and 2006 before an epic collapse in 2008.

Inventory 506

Inventory Law New Listings Sellers 506

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 473

Contracts Housing Market Construction Inventory 473

Housing Wire

JANUARY 13, 2024

So let’s hope for more home sellers in 2024. 6-13): Inventory rose from 471,349 to 473,406 The inventory bottom for 2022 was 240,194 The inventory peak for 2023 is 569,898 For context, active listings for this week in 2015 were 931,002 I don’t want to jinx this because active inventory rose last year at this time. 2022 21.7%

Inventory 534

Inventory New Listings Retail Mortgage 534

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. While new listings are still trending at the lowest levels ever recorded in history, we are forming a bottom in this data.

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Inventory Mortgage New Listings Marketing 514

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. This is pushing many prospective homebuyers to the sidelines until the market becomes healthier.

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New Listings Inventory Buyers Mortgage 472

Housing Wire

NOVEMBER 18, 2022

On a positive note, however, the days on the market are no longer a teenager anymore: that metric grew from 18 days to 21 days. I cheer because the savagely unhealthy housing market theme I talked about back in February of this year was the same premise of the housing reset talking point the Federal Reserve uses. million in October.

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Inventory Marketing Housing Market New Listings 486

Housing Wire

NOVEMBER 29, 2023

In the ever-competitive real estate market, creating a consistent flow of real estate buyer leads is strategy for success. But beyond first-timers, we’ll show you how to attract real estate buyers of all kinds through a multi-tiered marketing approach that boosts both your visibility and credibility with potential buyers.

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Real Estate Buyers Tools Real Estate Agent 422

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. However, that hasn’t been the case so far in 2024. from the previous year ($375,300). All four U.S. million in March.

Inventory 500

Inventory Housing Market New Listings Buyers 500

Housing Wire

FEBRUARY 29, 2024

The job market is solid, and the country’s total wealth reached a record high due to stock market and home price gains,” NAR chief economist Lawrence Yun said in a statement. However, the timing and number of purchases will largely depend on the prevailing mortgage rates and inventory availability.”

Contracts 446

Contracts Inventory New Listings Realtors 446

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. But even with mortgage rates getting as high as 8%, we’ve yet to hit within that range. Last week, mortgage rates rose toward 7.56%. Weekly inventory change (Nov.

Inventory 500

Inventory New Listings Mortgage Retail 500

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. We have had an almost 1.5%

Inventory 536

Inventory New Listings Mortgage Law 536

Housing Wire

NOVEMBER 9, 2022

But I need to explain why this level has more in common with 2014 housing data than the credit stress markets of 2005-2008, and why you should care. Understanding this data line and what it is trying to tell you will be more valuable than erroneously thinking the market is crashing and we’ll see a wave of foreclosures.

New Listings 504

New Listings Inventory Housing Market Sellers 504

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 485

Inventory Mortgage New Listings Marketing 485

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. To that I say, timing is everything in real estate.

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Inventory Lending Real Estate Housing Market 421