Remove 2001 Remove Inventory Remove Real Estate
article thumbnail

The ugly side of housing: low inventory

Housing Wire

After eight months of consecutive gains, the consequences of low inventory finally caught up with the housing market in February. An index of 100 is equivalent to the level of pending sales in 2001. However, Yun indicated that even homes priced between $500,000 and $1 million are subject to the same low-inventory drama.

Inventory 511
article thumbnail

Employment gains could help housing inventory

Housing Wire

“The prime-age labor force participation rate fell in the aftermath of the Great Recession and it took a decade to return to the pre-Great Recession average (2001-2007) of 83%,” Kushi said. The post Employment gains could help housing inventory appeared first on HousingWire. Presented by: CreditXpert.

Inventory 514
Insiders

Sign Up for our Newsletter

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

article thumbnail

Opinion: Unleashing AI real estate marketing magic

Housing Wire

When we contemplate the potential of AI and Web3 technologies in real estate , it goes beyond simply revolutionizing how consumers search for homes and take ownership of assets. The stakes in real estate are higher, and the cost of making a mistake is substantial. Why was it such a game changer?

article thumbnail

The evolution of the more productive real estate agent 

Housing Wire

Bonnie Williamson never intended to be a real estate agent. As more and more people enter the real estate industry – membership at the National Association of Realtors has ballooned to a record 1.6 Gault and Wexler both came from real estate families and have been in the industry for over 20 years.

article thumbnail

Pending home sales plummet to all-time low in May: NAR

Housing Wire

An index of 100 is equal to the level of contract activity in 2001. According to industry analysts, this is the lowest index reading recorded since NAR began collecting the data in 2001. Kushi added that more buyers may be enticed back into the market if mortgage rates continue to fall and inventory levels continue to rise.

Inventory 501
article thumbnail

Pending home sales were flat in April, but the South is a bright spot

Housing Wire

“Elevated mortgage rates and economic uncertainty, along with still-low inventory, means that new pending sales were down more than 20% from a year ago, and were lower even compared to 2019 levels.” An index of 100 is equal to the level of contract activity in 2001. Regionally, the Midwest (78.4), South (99.6), and West (62.2)

Inventory 397
article thumbnail

Pending home sales bounce back in June: NAR

Housing Wire

A reading of 100 is equal to the level of contract activity in 2001. According to industry analysts, May’s index value was the lowest reading recorded since NAR began collecting the data in 2001. NAR chief economist Lawrence Yun attributed some of the uptick to an increase in housing inventory.