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Sellers Listing Their Homes … But Buyers Aren’t Biting 

Appraisal Buzz

Home sellers are returning to the market, but buyers are hesitant, according to a recent Zillow market report. Inventory, New Listings and Pending Sales Overview New listings increased by 7.9% Inventory (the number of listings active at any time during the month) in May increased by 7.4% Inventory levels are 33.8%

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How housing credit is shaping housing inventory

Housing Wire

Housing credit channels directly impact housing inventory channels. Home prices escalated out of control after 2020 and when we look at why that happened, we can see that housing credit mattered more to inventory data than most people realize. This matters because inventory was already heading toward all-time lows before COVID-19.

Inventory 512
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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
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Home prices stay elevated as inventory lags: Redfin 

Housing Wire

The market continues to grapple with insufficient inventory , Redfin reported. New listings have risen approximately 8% compared to last year, yet overall inventory remains below typical spring levels. Simultaneously, persistently high housing costs have driven pending home sales down by 4.2%

Inventory 483
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Spring housing market gets more inventory

Housing Wire

Active weekly housing inventory growth slowed slightly last week, but it’s still running at a healthier clip than in 2023. I have a simple model with mortgage rates being above 7.25%: weekly inventory data should grow between 11,000-17,000 per week. We have now seen it for two weeks as inventory grew by 13,247. 2022: 19.2%

Inventory 504
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Why is housing inventory growing with higher mortgage rates?

Housing Wire

The mortgage rate lockdown premise says that if rates rise, inventory can’t grow meaningfully. Let’s take a look at the inventory data this year to test this premise, since for many months it has been a working theory of mine that new listings data behavior last year marked a bottom and even going into 2024 we should see more sellers.

Inventory 534
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Number of price cuts drops as housing inventory rises

Housing Wire

Last week, housing inventory grew and the number of price cuts fell, which is expected at this time of the year. I hope the next thing we see is housing inventory grow at the level it typically does in January or February instead of being delayed until March or April. So let’s hope for more home sellers in 2024.

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