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Altos: Sellers are coming back to the housing market, can buyers keep up?

Housing Wire

New listings each week, which were record few last year, are growing now. There are still notably not a lot of sellers. But home sellers are gradually easing back into this housing market. There were 66,000 new listings this week, of which 14,000 are already in contract. It’s not a ton of sellers.

Sellers 350
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Altos: More sellers and price reductions, but fewer homebuyers

Housing Wire

We still see more sellers than last year. Each week, there are more new listings than a year ago, allowing inventory to build and eventually leading to more home sales this year than last. And sure enough the number of new contracts started this week dipped. More sellers with price cuts than a year ago.

Sellers 401
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The strong spring real estate market will surprise you: Altos

Housing Wire

Sellers are coming back There are 499,000 single-family homes unsold on the market now. There are slightly more sellers each week. Last year, was marked by how few sellers there were. We can expect to have more sellers all year. Sales were held back for lack of sellers. Home price signals are increasing too.

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Housing inventory is seeing unusual gains in November. Should we be worried? 

Housing Wire

It looks like this is evidence that housing markets are returning to normal rather than a case of sellers panicking, but it’s worth keeping an eye on. After all, more sellers means more sales in 2024. That’s more new sellers this year than the same week a year ago, signaling a tiny improvement in our supply-starved housing market.

Inventory 393
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Altos: Are higher mortgage already rates deterring homebuyers?

Housing Wire

There are more buyers than sellers. We have slightly more sellers now than we did a year ago and inventory is now 8.8% More sellers this week than last week Each week, just a few more home sellers are testing this market. There were 7% more new sellers this week than the same week a year ago.

Mortgage 403
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Altos: Housing inventory could grow 40% this year

Housing Wire

The suspicion was that there were a bunch of sellers who were waiting to sell: Once rates fell these sellers would come rushing back to this real estate market and we’d finally see inventory grow. Second, because people think of home sellers as being locked-in by high interest rates. That’s 15% growth over the pace of 2023.

Inventory 499
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Home price gains slow as mortgage rates rise: Altos

Housing Wire

Even as money is more expensive and there are more sellers than a year ago, we can also see slight home sales growth over 2023. New listings rise New listings continue to show us that more sellers are interested in this market this year. Is new supply growing out of balance with demand?

Mortgage 481