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New listings surge as the spring buying season approaches

Housing Wire

Prospective homebuyers have more options to choose from in the housing market, which could help spur sales this spring. New listings ticked up by 21% in February compared to last year, according to Zillow ’s February report. New listings rose 20% from January, and each of the 50 largest U.S.

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The 2023 housing market bent, but didn’t break

Housing Wire

housing market and that they need to be pro-housing again. Even with all the drama we have dealt with in 2022-2023, the housing market stayed intact and never broke. Let’s look at the tracker for the week before Christmas and see what the forward-looking data looks like before we open presents.

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Housing Market Tracker: Inventory finally rises

Housing Wire

Can we now say that the housing market ‘s spring selling season is finally underway? Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. Again, I am a bit mindful here due to Easter.

Inventory 544
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Housing Market Tracker: Purchase apps jump 25%

Housing Wire

Here’s the housing market rundown for the last week: Purchase application data had a solid week-to-week gain of 25%. Housing inventory decreased by 566 units, which is not a significant decline. Mortgage rates fell, but the bond market didn’t break what I see as a critical level, so for now, stabilization is more important.

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Even with low inventory, expect a strong 2021 housing market

Housing Wire

Even prior to the pandemic , housing inventory had hit record lows, and the problem has only gotten worse as demand continues to rise. Total home sales are outpacing new listings by a wide margin every month, and real estate tech company Homesnap foresees the shortage continuing in 2021 unless more sellers enter the market.

Inventory 546
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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. Housing recession. That would be a positive for demand.

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Housing Market Tracker: Inventory drops by 11,000

Housing Wire

The housing market faced some serious obstacles last week as the 10-year yield broke over 4%, mortgage rates rose to over 7%, purchase apps fell again and we are still trying to find the elusive seasonal bottom for housing inventory. My 2023 inventory forecast needs a lot of help, as new listing data isn’t growing at all still.

Inventory 437