Remove articles housing-market-tracker-spring-inventory-falls
article thumbnail

Why are existing home prices rising when sales are still so low?

Housing Wire

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. From NAR : The median existing home price for all housing types in March was $393,500, an increase of 4.8% All four U.S.

Inventory 473
article thumbnail

Housing inventory defied all predictions in 2023

Housing Wire

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 492
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Housing Market Tracker: Mortgage rates and inventory fall together

Housing Wire

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. In a regular market, they would be closer to 5.25%.

Inventory 439
article thumbnail

HousingWire debuts Housing Market Tracker

Housing Wire

Starting this week, I will analyze weekly data in a Housing Market Tracker article every Monday to provide a status update on the U.S. housing market and economy. This weekly tracker will give you updates on the data lines that don’t need to wait for monthly housing data reports. .

article thumbnail

Housing Market Tracker: Purchase apps surprise

Housing Wire

Active housing inventory grew while new listing data fell. Here’s a quick rundown of the last week: Active inventory grew 8,041 weekly. This dynamic changed the housing market from one where home sales were crashing to one that is now stabilized. New listings data is another big story with housing inventory.

article thumbnail

Housing Market Tracker: Mortgage rates over 7%

Housing Wire

Debt-ceiling drama pushed bond yields up last week, taking mortgage rates to a new 2023 high in the middle of the spring home-selling season. Active housing inventory , thankfully, saw some decent growth last week. It will be critical to see how the bond market and mortgage spreads act this week.