Remove Inventory Remove Investors Remove Marketing Remove New Listings
article thumbnail

Mortgage market affordability and inventory challenges

Housing Wire

With a rapid spike in interest rates, inventory at historic lows, home prices rising at unprecedented levels above income, and a purchase market that is both highly anxious and digitally reliant, mortgage and real estate professionals must be strategic to capture the market opportunity today. Inventory rising, historically low.

Inventory 391
article thumbnail

Days on market grow despite low inventory for existing homes

Housing Wire

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. The Federal Reserve wanted to see the bidding wars end and the days on the market grow.

Inventory 461
Insiders

Sign Up for our Newsletter

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

article thumbnail

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 538
article thumbnail

Why are existing home prices rising when sales are still so low?

Housing Wire

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. Of course this isn’t the healthiest housing inventory story. from the previous year ($375,300). All four U.S.

Inventory 474
article thumbnail

Have we found the bottom in existing home sales?

Housing Wire

In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! From NAR : “In essence, the residential real estate market was frozen in November, resembling the sales activity seen during the COVID-19 economic lockdowns in 2020,” said NAR Chief Economist Lawrence Yun.

Inventory 509
article thumbnail

Don’t get too excited about the jump in existing home sales

Housing Wire

Here are some charts reviewing today’s report with a host of data lines from the NAR existing home sales report: [link] A few critical glaring points: active inventory is still historically low, and so is monthly supply data. A few notes on the data above: obviously, distressed sales are not a thing and haven’t been for some time.

Inventory 428
article thumbnail

Compass CEO Reffkin believes agents will still be valued in a post-settlement world

Housing Wire

In down markets, the best agents and the best brokerages gain market share,” Reffkin, the CEO of Compass, told investors and analysts during his firms first-quarter 2024 earnings call on Wednesday evening. “We In addition to Compass’ market share gains, the firm also recorded a 10% annual bump in revenue to $1.05

Agents 365