Remove 2000 Remove Housing Market Remove New Listings
article thumbnail

Lower mortgage rates are stabilizing the housing market

Housing Wire

One issue that has created a waterfall dive in purchase application data and sales is that new listing data is declining faster than usual. Since the summer of 2020, I have believed the housing market could change in terms of cooling down, but it would require the 10-year yield to break over 1.94%.

article thumbnail

Housing Market Tracker: Mortgage rates fall after SVB failure

Housing Wire

Last week was wild, and not just for the housing market. Weekly inventory fell by 6201 , and new listing data is down noticeably from last year, which was different than last week. Inventory grew during the housing bubble years because housing credit was much looser back then, and people could move more freely.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Days on market grow despite low inventory for existing homes

Housing Wire

On a positive note, however, the days on the market are no longer a teenager anymore: that metric grew from 18 days to 21 days. I cheer because the savagely unhealthy housing market theme I talked about back in February of this year was the same premise of the housing reset talking point the Federal Reserve uses.

Inventory 493
article thumbnail

Housing inventory still near record lows

Housing Wire

We have a workable range for 2023 sales in the existing home sales market between 4 million and 4.6 If we are trending below 4 million — a possibility with new listing data trending at all-time lows — then we have much weaker demand than people think. Now if we get a few sales prints above 4.6 from March 2022 ($379,300).

Inventory 531
article thumbnail

Higher rates flip the homebuilders’ fortunes (again)

Housing Wire

As we can see in the chart below, we are still below the recession levels of 2000 and really trending at 1996 levels. months of the supply is active listings, 68K 5 months of the supply is still under construction, 280K 1.6 To get more inventory you need more Americans to list their homes.

Inventory 501
article thumbnail

Home prices climb amid shrinking inventory, modest bump in demand

Housing Wire

The supply of active listings fell for the sixth straight month in March, marking the lowest level since April 2022. March also saw a deterioration in supply in 90% of major markets. New listings aren’t filling the gap either. In March, 30% fewer properties hit the market when compared to pre-pandemic norms.

Inventory 397
article thumbnail

U.S. Housing Market Collapse? Nowhere in Sight

Empire Appraisal Group

Housing Market Collapse? Housing Market Collapse? The housing market has taken a few hits, such as a doubling of mortgage rates in 2022, but it remains solid even if legitimate news providers suggest doom and gloom. NEW YORK – The rock-hard foundation of the U.S. Housing Market Collapse?