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Why fewer homes are taking a price cut, even while inventory rises

Housing Wire

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. What is all this data pointing to?

Inventory 509
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Why higher rates aren’t crashing home prices

Housing Wire

Home prices aren’t crashing, despite what the housing bubble boys are saying. The housing bubble boys are a crew that from 2012 to 2019 screamed housing crash every year. Well, it’s June 9, 2023, and home prices have been firm month to month, not showing anything that resembles the housing bubble crash years.

Inventory 545
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Why home prices haven’t crashed even with high mortgage rates

Housing Wire

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. Weekly housing inventory data We will start with the price cut data percentage because it deserves a detailed explanation.

Mortgage 526
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FHFA House Price Index hits an all-time high

Housing Wire

On Tuesday the FHFA House Price Index hit an all-time high. In this article I’ll explain why this is happening and why we still have a savagely unhealthy housing market. are still near all-time lows and the demand has stabilized. 9, 2022, was an inflection point in housing.

Inventory 463
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Existing home sales are working from a historic low bar

Housing Wire

Today, we saw existing home sales slip a bit month to month, which isn’t surprising to me as purchase application data started its positive run in November. Since making some holiday adjustments, we have seen a seven-week positive trend in purchase apps since November. from December 2022 ($366,500). All four U.S.

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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. . Housing market inventory.

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Logan Mohtashami’s 2023 housing market forecast

Housing Wire

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. for 2022.