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In a bad mortgage market, these are areas of opportunity for lenders

Housing Wire

. “New home listings and cash-out alerts both trended upward in the second quarter, making purchase and home-equity products smart areas of investment for lenders as they prioritize assignment of limited resources,” said Mike Spotten, executive vice president of product at Sales Boomerang.

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Days on market grow despite low inventory for existing homes

Housing Wire

Seasonal impacts are the norm with housing, and new listing data is negative 6% year to date. We saw new listing data decline when rates got to 6.25% the first time. However, as we can see, the inventory data looks much different than what we saw in 2000, 2005, 2008, 2012, 2015 and 2018.

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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. New listings aren’t filling the gap either. In addition, the national delinquency rate dropped 53 basis points in March to 2.92%, falling below 3% for the first time on record dating back to January 2000.

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Housing Market Tracker: Mortgage rates fall after SVB failure

Housing Wire

Weekly inventory fell by 6201 , and new listing data is down noticeably from last year, which was different than last week. The 10-year yield, already at a key critical level, couldn’t break higher but reversed and went lower Friday after the jobs report and the news around Silicon Valley Bank. million in 2023.

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Housing inventory still near record lows

Housing Wire

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. As we can see below, from 2000, total active housing inventory rose from 2 million to 2.5 Now if we get a few sales prints above 4.6

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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. Remember that inventory is always seasonal; it rises in the spring and summer and fades in the fall and winter. Traditionally, when mortgage rates rise post-2012, home sales trend below 5 million.

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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. When we look at active listings today, we are still at 980,000, near all-time lows, even with the recent massive hit to demand. To get more inventory you need more Americans to list their homes.

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