Remove Inventory Remove Mortgage Remove New Listings Remove Presentation
article thumbnail

Why fewer homes are taking a price cut, even while inventory rises

Housing Wire

While weekly inventory is still falling, we have year-over-year growth in total active listing and new listings data. This calls into question a mortgage rate lockdown, as mortgage rates are also higher year over year. Last week, inventory fell week to week but was up over this time last year.

Inventory 509
article thumbnail

Housing inventory growth slows to a halt

Housing Wire

Total housing inventory growth has been slow in 2023, but with rising mortgage rates over the last few months, inventory has grown a bit faster than average. The question now is: Have we hit the seasonal peak in inventory for 2023? Last year, according to Altos Research , the seasonal peak for housing inventory was Oct.

Inventory 471
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 Market Tracker: Inventory finally rises

Housing Wire

Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. Still, we have some promising signs that we might have finally hit the inventory bottom for 2023.

Inventory 545
article thumbnail

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. I discussed my theory on why inventory bottoms out later in the year on this HousingWire Daily podcast.

Inventory 465
article thumbnail

Mortgage rates should drop below 7% as housing demand picks up

Housing Wire

Mortgage rates almost fell below 7%, the 10-year yield is below 4.25% again, and people are seriously talking about Fed rate cuts in 2024. Purchase application data Hello, early Christmas present! Mortgage rates have fallen by almost 1% in a short time, and it has created four straight weeks of positive purchase application data.

Mortgage 542
article thumbnail

Why higher rates aren’t crashing home prices

Housing Wire

In 2022 it was all about finding a point in time when I thought mortgage rates would fall, which was key to understanding how the purchase application data would react to lower mortgage rates. We have had plenty of times in the previous decade when mortgage rates fell and demand improved, but that was with a lot lower mortgage rates.

Inventory 545
article thumbnail

Housing Market Tracker: Purchase apps jump 25%

Housing Wire

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. Last week’s housing market data provided mixed news. Weekly housing inventory fell, but not by much.