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Zillow: As Inventory Increases, Many Buyers Still Waiting on the Sidelines

Appraisal Buzz

Even though inventory has been increasing, many home buyers are still sitting on the sidelines, with some likely waiting for mortgage rates to decrease before they make a purchase, a report from Zillow shows. Inventory is accumulating, rising 22% over last year and reducing the pandemic-era deficit.

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How housing credit is shaping housing inventory

Housing Wire

Housing credit channels directly impact housing inventory channels. Home prices escalated out of control after 2020 and when we look at why that happened, we can see that housing credit mattered more to inventory data than most people realize. This matters because inventory was already heading toward all-time lows before COVID-19.

Inventory 511
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Spring housing market gets more inventory

Housing Wire

Active weekly housing inventory growth slowed slightly last week, but it’s still running at a healthier clip than in 2023. I have a simple model with mortgage rates being above 7.25%: weekly inventory data should grow between 11,000-17,000 per week. We have now seen it for two weeks as inventory grew by 13,247. 2022: 19.2%

Inventory 504
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Home prices stay elevated as inventory lags: Redfin 

Housing Wire

The market continues to grapple with insufficient inventory , Redfin reported. New listings have risen approximately 8% compared to last year, yet overall inventory remains below typical spring levels.

Inventory 465
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Sellers Listing Their Homes … But Buyers Aren’t Biting 

Appraisal Buzz

Home sellers are returning to the market, but buyers are hesitant, according to a recent Zillow market report. In May, new property listings exceeded sales, allowing buyer competition and price rise to slow—and more price relief is expected. Inventory, New Listings and Pending Sales Overview New listings increased by 7.9%

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Inventory is 19% higher than a year ago: Altos

Housing Wire

And as a result, as inventory builds , the sales growth trend shows signs of slowing. We know that these higher mortgage rates are deterring buyers, and inventory is building. Will higher rates keep a cap on inventory like it did a year ago? Inventory is up in lock step. But will rates deter sellers also?

Inventory 485
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Why is housing inventory growing with higher mortgage rates?

Housing Wire

The mortgage rate lockdown premise says that if rates rise, inventory can’t grow meaningfully. Let’s take a look at the inventory data this year to test this premise, since for many months it has been a working theory of mine that new listings data behavior last year marked a bottom and even going into 2024 we should see more sellers.

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