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.

Mortgage 445

Mortgage Inventory New Listings Housing Market 445

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.

Appraisal 309

Appraisal Marketing Mortgage New Listings 309

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 480

Mortgage New Listings Loan Officers Inventory 480

Housing Wire

APRIL 27, 2024

I have a simple model with mortgage rates being above 7.25%: weekly inventory data should grow between 11,000-17,000 per week. Weekly housing inventory data We’ve now had back-to-back weeks of healthy housing inventory growth and spring 2024 is much healthier than spring 2023. The mortgage spread data got worse last week.

Inventory 445

Inventory Housing Market Marketing New Listings 445

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 519

Mortgage Inventory New Listings Sellers 519

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%

Inventory 470

Inventory New Listings Mortgage Finance 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 387

Mortgage Sellers New Listings Buyers 387

Housing Wire

DECEMBER 30, 2023

Looking back on 2023, the inventory story was a big surprise even as mortgage rates headed toward 8%, as the data below will show. This didn’t happen once in 2023 — even with rising mortgage rates. What we want to see in 2024 is new listing data growing in the spring season. Weekly inventory change (Dec.

Inventory 492

Inventory New Listings Housing Market Mortgage 492

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 409

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 438

Housing Market Inventory New Listings Marketing 438

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 397

Mortgage New Listings Housing Market Buyers 397

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. The question now is what will inventory look like in the spring if mortgage rates keep falling?

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Inventory Mortgage New Listings Buyers 523

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. Selma Happ, the chief economist at CoreLogic , said transaction data suggests that existing home sales are leveling off despite the uptick in mortgage rates. Existing-home sales dropped 4.1%

Inventory 381

Inventory Realtors New Listings Contracts 381

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 427

Inventory New Listings Mortgage Housing Market 427

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 504

Inventory New Listings Retail Mortgage 504

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 446

Mortgage Inventory New Listings Housing Market 446

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 517

Inventory New Listings Mortgage Marketing 517

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

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 521

Inventory New Listings Retail Mortgage 521

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. High-end buyers tend to be more immune to mortgage rate fluctuations and flock to the luxury housing market. New listings of luxury homes soared 18.5% Luxury home prices in the U.S.

Luxury Properties 412

Luxury Properties New Listings Buyers Housing Market 412

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 448

Mortgage Inventory New Listings Marketing 448

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 494

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 450

Contracts Housing Market Construction Inventory 450

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 425

New Listings Inventory Buyers Mortgage 425

Housing Wire

NOVEMBER 29, 2023

Forming partnerships with mortgage brokers can be mutually beneficial. Your approach to connecting with buyers should be as diverse and dynamic as the market itself, adapting to changes and embracing new technologies. Canva is perfect for everything from new listings to brand promotion.

Real Estate 366

Real Estate Buyers Tools Real Estate Agent 366

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 473

Inventory Housing Market New Listings Buyers 473

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 534

Inventory New Listings Mortgage Law 534

Housing Wire

FEBRUARY 29, 2024

However, consumers are showing extra sensitivity to changes in mortgage rates in the current cycle, and that’s impacting home sales.” However, the timing and number of purchases will largely depend on the prevailing mortgage rates and inventory availability.” This combination of economic conditions is favorable for home buying.

Contracts 376

Contracts Inventory Realtors New Listings 376

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 540

Housing Market Mortgage Marketing Inventory 540

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 447

Inventory New Listings Mortgage Retail 447

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 472

New Listings Inventory Housing Market Sellers 472

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 501

Mortgage Inventory Sellers Housing Market 501

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 429

Inventory Mortgage New Listings Marketing 429

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 388

Inventory Sellers Mortgage Marketing 388

Housing Wire

NOVEMBER 18, 2022

When I outlined my 23% five-year growth model for 2020-2024, it was to have a marker for when price growth got too hot. However, I knew the years 2020-2024 would see better demand from the bump in demographics. As mortgage rates rose more and more, the October to January data was going to show big negative prints. months to 3.3

Inventory 464

Inventory Marketing Housing Market New Listings 464

Housing Wire

DECEMBER 21, 2022

“The principal factor was the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. Mortgage rates spiked in March, and then the new listing data started to decline at the end of June. This is the biggest story in housing. .

Inventory 508

Inventory New Listings Housing Market Sellers 508

Will Springer Realtor

FEBRUARY 13, 2024

And, despite the rise in new listings, the number of homes still on the market on Feb. The figures were promising from the single-family-home category as well, with new listings jumping 129% (1335) from December in King and up a negligible 0.5% fewer listings than December and 28% below January 2023 figures.

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New Listings Buyers Inventory Lending 53