article thumbnail

Inventory is 19% higher than a year ago: Altos

Housing Wire

At HousingWire , we have a debate about whether home sellers will freeze up again this year as mortgage rates stay stubbornly high. We’ve had seller growth for 18 weeks in a row. More sellers means more sales. And as a result, as inventory builds , the sales growth trend shows signs of slowing. So that rule holds.

Inventory 485
article thumbnail

Download these 9 real estate prospecting letter templates that actually work

Housing Wire

Check out these nine downloadable real estate prospecting letter templates to help you make an impression in your neighborhood or zip code. We negotiated to get the sellers the highest price possible. Even if you’re months or even years away from moving, a seller’s prep session is one of the services I offer homeowners.

Insiders

Sign Up for our Newsletter

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

article thumbnail

The mortgage rate lock-in didn’t start in 2022

Housing Wire

That’s a swing of 17% fewer sellers in just a matter of days. What’s not measured in the FHFA paper is how by 2023, seller volume had already been declining for nearly a decade. In that period, we can see seller volume decreasing as more and more Americans had mortgages under 5%. This was a supply-constrained market.

Mortgage 432
article thumbnail

Altos: Housing inventory could grow 40% this year

Housing Wire

Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The only way inventory would grow in 2024 is if mortgage rates climbed. But the evidence is the opposite.

Inventory 508
article thumbnail

Are home sellers finally coming back to the market?

Housing Wire

The defining characteristic of the 2023 housing market has been dramatically fewer home sellers than any recent year. In this week’s Altos Research video, I look at how home sellers and sales are up, but that doesn’t mean prices will climb in 2024. Housing inventory climbed late in the year as mortgage rates rose.

Sellers 458
article thumbnail

Housing Statistics for Beginners, Part 2

Birmingham Appraisal

A great skill to have for a real estate agent, or anyone in the real estate industry, is the ability to download sales data from your local MLS and import it into a spreadsheet program like Excel or Google Sheets. When learning a market it is very helpful to be able to perform an MLS search and download the data for analysis.

article thumbnail

Altos: More sellers and price reductions, but fewer homebuyers

Housing Wire

Inventory is rising across the country as home-buying affordability takes another hit. As demand slows, inventory grows. As a result, inventory is higher and future sales price indicators are also softer than they were a year ago. We still see more sellers than last year. This the first inventory increase of the year.

Sellers 441