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Sluggish net new listings signal that the lock-in effect is not over

Inman

percent decline in net new listings and a 2 percent decrease in contract signings, driven by mortgage rate fluctuations, according to HouseCanary. Despite a rise in total inventory compared to 2022 and 2023, the market is still behind historical inventory averages as sellers avoid entering a higher rate environment.

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Housing inventory falls under 1M again as sales collapse

Housing Wire

On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. million in January down to about 4 million in December, We now have total inventory levels near all-time lows again. During that period, we saw new listing data decline.

Inventory 537
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Existing-home sales have nowhere to go but up in 2024? 

Housing Wire

Homes typically go under contract a month or two before the closing, which means the October data largely reflects purchase decisions made in August and September. On the bright side, housing inventory rose 1.8% lower than October 2022 when inventory was at 1.22 Meanwhile, unsold inventory sat at a 3.6-month All four U.S.

Inventory 381
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Buyers are getting cold feet as mortgage rates exceed 7%: Redfin

Housing Wire

of homes that went under contract that month, according to a new report from Redfin. A lot of sellers are also willing to let buyers slip away because they don’t want to concede to repair requests,” Morre said. New Listings Tick Up Slightly, But Overall Housing Supply Remains at Record Low New listings rose 0.8%

Buyers 394
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The 2023 housing market is at odds with itself

Housing Wire

On the other hand, inventory is still low, and homes are still selling fast, often with multiple offers. The number of new listings coming on the market this spring is lower than it has been in more than a decade. Sales and new pending contracts are below pre-pandemic levels. Selective sellers.

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US home prices continued their rally in September

Housing Wire

Home prices rallied in September, as homebuyers still outnumbered sellers. In September, existing home sales fell, while pending home sales and new home sales rose compared to the previous month. Low levels of existing home inventory contributed to keeping home prices elevated. Home prices posted a 3.9% in August.

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SmartZip Review: Can data improve your prospecting game?

Housing Wire

If you’re an agent, team or brokerage looking to keep a pipeline of qualified listing leads coming your way, SmartZip may the solution you need. SmartZip uses predictive analytics to pinpoint likely sellers from 6 to 18 months in advance, offering a huge advantage in today’s low inventory market.