Housing Wire

APRIL 30, 2023

The spring housing market music is playing, and purchase application data and active listing inventory rose together last week. The fear of not having an increase in inventory this spring should be put to rest. Since 2020, the seasonal inventory bump has happened later than usual — not until March or April.

Inventory 525

Inventory Housing Market Marketing New Listings 525

Housing Wire

MARCH 29, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Wait, what?

Inventory 435

Inventory Housing Market Marketing Modernization 435

Housing Wire

NOVEMBER 18, 2022

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. Total housing inventory fell in this report, the third report in a row that shows total inventory has decreased.

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Inventory Marketing Housing Market New Listings 493

Housing Wire

DECEMBER 29, 2022

The housing market of 2002-2005 had four years of sales growth facilitated by credit. As we can see below, the purchase application data had four years of growth, peaking in 2005 and then collapsing. However, what isn’t identical is that we have not had a massive sales boom like we saw from 2002-2005. Housing inventory.

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Housing Market Marketing Inventory Sellers 546

Housing Wire

DECEMBER 7, 2022

As you can see from the chart above, the last several years have not had the FOMO (fear of missing out) housing credit boom we saw from 2002-2005. What I mean by a credit bust is that after the housing bubble burst in 2005 into 2006, we saw a massive increase in supply. Total inventory levels. NAR: Total Inventory levels 1.22

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Housing Market Mortgage Marketing Inventory 544

Housing Wire

NOVEMBER 9, 2022

But I need to explain why this level has more in common with 2014 housing data than the credit stress markets of 2005-2008, and why you should care. Inventory levels broke to all-time lows and thus created massive housing inflation quickly, which broke my model. Traditionally, inventory levels have been between 2 million to 2.5

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New Listings Inventory Housing Market Sellers 508

Housing Wire

DECEMBER 21, 2022

In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! Plus, available housing inventory remains near historic lows.” ” One of the housing economic realities that I have been trying to stress this year is that a traditional seller of a home is typically a buyer as well.

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Inventory New Listings Housing Market Sellers 531

Housing Wire

MARCH 18, 2022

Inventory has broken to all-time lows, but it doesn’t look like the year-over-year data will be positive at all this year unless demand softens up. NAR Research : Unsold inventory sits at a 1.7-month NAR Research : Unsold inventory sits at a 1.7-month However, negative year-over-year inventory is not what we want to see.

Housing Market 542

Housing Market Marketing Inventory Sellers 542

Housing Wire

DECEMBER 10, 2024

Ive been doing this since 2005 and I tell clients that Ive never seen a market like this, so we have to navigate it together. Its a symptom of a market thats transitioning away from sellers. According to data from Altos Research, for-sale inventory has risen from 1,864 on a 90-day rolling basis in May to 3,019 today.

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Housing Market Marketing New Listings Sellers 370

Housing Wire

JUNE 28, 2022

Since 2014, we’ve not seen the credit housing boom that we saw from 2002-2005. The housing market can’t replicate the type of massive credit expansion we saw from 2002-2005, so the price-growth story has more to do with inventory collapsing to all-time lows. For some time now, I have been focusing on that 1.52-1.93

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Housing Market Marketing Inventory Investors 482

Housing Wire

AUGUST 30, 2022

While the growth rate is cooling monthly, we are still in a savagely unhhealthy housing market trying to get national inventory levels back to pre-COVID-19 levels. Housing inventory issue with no booming demand. However, we haven’t had a credit sales boom like the one we saw from 2002-2005. million listings.

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Inventory New Listings Law Housing Market 397

Housing Wire

MARCH 23, 2022

Second, because of the downtrend in inventory since 2014 and the demand pick-up we will see in the years 2020-2024, we had a risk of home prices accelerating too much. As you can see below, the new home sales market from 2018-2022 doesn’t look like the housing market we had from 2002-2005. First, total home sales should be 6.2

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Mortgage Inventory Housing Market Construction 505

Housing Wire

MAY 24, 2022

I know some people don’t agree with me on this, but the price gains in both the existing home and new home sales sector show that homebuilders and sellers had too much pricing power and needed to be checked. As you can see, sales levels were never elevated like what we saw from 2002-2005. The only way this happens is by higher rates.

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Housing Market Inventory Construction Marketing 418

Housing Wire

SEPTEMBER 26, 2023

That’s right — for all the hype of massive housing inventory coming from the builders, today we sit here still trying to work back to pre-COVID-19 levels with just 76,000 completed homes ready to be moved. This is why I have called them efficient home sellers. But they still only have 76,000 completed units for sale today.

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Inventory Construction Housing Market Marketing 524

Housing Wire

FEBRUARY 24, 2023

If sales are working from an elevated number, like what we saw from 2003-2005, it’s a different subject altogether. Homebuilders’ for-sale inventory and months’ supply The seasonally-adjusted estimate of new houses for sale at the end of January was 439,000. However, this isn’t how inventory grows in America.

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Inventory Construction Housing Market Mortgage 501

Housing Wire

SEPTEMBER 28, 2022

million level we saw in 2005. However, it does show that the builders are in a much better spot to deal with their massive supply, compared to the 2005-2008 period. They are good at selling their inventory much quicker than existing home sellers, who might still be stingy on prices. months of supply, 5.36

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Construction Sellers Inventory Housing Market 505

Housing Wire

NOVEMBER 13, 2023

Homebuyers’ median household income increased by $19,000 this year from 2022, reaching $107,000, according to the National Association of Realtors ’ 2023 Profile of Homebuyers and Sellers. The report is an annual survey of homebuyers and sellers who closed transactions between July 2022 and June 2023.

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Real Estate Agent Real Estate Agents Sellers 435

Housing Wire

JULY 13, 2022

Looking at the housing market in the years 2020-2024, one risk i identified early on was that home prices could accelerate more in this period than we saw in the previous expansion if inventory channels broke to all-time lows. This problem is much different than the housing credit bubble of 2002-2005. NAR: Total Inventory.

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Inventory Housing Market Mortgage Construction 540

Housing Wire

JUNE 27, 2023

They’re effective sellers and don’t want to create a backlog of completed units for sale because that would ruin their business model. Some people prefer something other than the current active existing inventory. Also, in the chart below, we can all agree it isn’t housing 2005 or housing 2008 with new home sales.

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Construction Inventory Marketing Buyers 516

Housing Wire

MAY 14, 2023

Yes, we found the seasonal bottom for housing inventory on April 14, but this year’s rise in active listings has been tepid at best. Weekly housing inventory Well, the best thing I can say for spring 2023 inventory is that we found the seasonal bottom a few weeks ago. This link explains the difference.

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Housing Market Marketing Inventory New Listings 488

Housing Wire

APRIL 25, 2023

You know, the one that says we have too much inventory and millions of vacant homes in the U.S.? However, the people who say low inventory is fake news don’t realize that housing credit channels are very different from 2008, which has prevented total active listings from looking anything like 2008. percent (±15.2 percent (±12.7

Inventory 501

Inventory Housing Market Construction Marketing 501

Housing Wire

APRIL 15, 2022

The home-price growth from 2020 through 2022 has been so unhealthy that I’ve labeled this a savagely unhealthy housing market as inventory has once again collapsed on a year-over-year basis in 2022. Inventory is still showing negative year-over-year data. 2014 was the very last year total housing inventory grew in America.

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Housing Market Marketing Mortgage Inventory 511

Housing Wire

AUGUST 23, 2022

can’t have a credit sales boom like we saw from 2002-2005. This means we won’t be working from record-breaking demand of high sales like we did at the peak of 2005. The builders are in a better position to manage their inventory glut than when they were working from a credit boom in 2005 that took new home sales up to 1.4

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Construction Housing Market Sellers Real Estate 370

Housing Wire

FEBRUARY 16, 2023

Last year we had monthly existing home sales collapse back to 2007 levels, except this time around, NAR has total inventory at 970,000 and not over 4 million. However, to my first point, the builders are lucky that total housing inventory is near all-time lows because this means their product holds more value. months and above.

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Construction Housing Market Inventory Marketing 526

Housing Wire

JANUARY 5, 2023

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. Housing Inventory. Home price s. million in 2023.

Housing Market 543

Housing Market Marketing Inventory New Listings 543

Housing Wire

DECEMBER 22, 2021

As you can see below, we don’t have a booming credit housing market as we saw from 2002-2005; we have steady replacement buyer demand. More choices are better for homebuyers and sellers who need to buy a home typically as well. Seasonality has kicked in with inventory already, which is expected every year.

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Inventory Housing Market Investors Marketing 516

Housing Wire

MARCH 28, 2022

The one thing that has happened in 2022 that has been worse is that national inventory levels have worsened in 2022 to start the year. Inventory has been falling for years. Logan Mohtashami: People know that I haven’t been a big fan of this housing market since inventory levels broke under 1.52

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Housing Market Marketing Supply Chain Inventory 370

Housing Wire

DECEMBER 29, 2021

Not the best of news as we start year three of that time period with a solid possibility of new all-time lows in inventory this spring. Home sellers strive to get the highest price from the best offers and homebuilders have the pricing power over consumers. Well, it looks like my five-year growth model has been taken out in two years.

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Housing Market Marketing Construction Mortgage 534

Housing Wire

DECEMBER 23, 2022

The truth here that nobody wants to talk about is that we didn’t have a massive sales credit boom in housing from 2020-2021 like we saw from 2002-2005. We must remember that the builders don’t operate like existing home sellers; they treat their products as commodities. The monthly supply data did fall in this report to 8.6

Construction 370

Construction Housing Market Mortgage Sellers 370

Housing Wire

APRIL 27, 2022

The one thing housing has going for it now is that we don’t have the speculative booming demand as we saw from 2002 to 2005. The builders have pricing power and they — along with home sellers — have pushed it very hard since 2020. From Census: For Sale Inventory and Months’ Supply: The seasonally?adjusted

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Construction Buyers Housing Market Inventory 370

Housing Wire

APRIL 14, 2022

“Our goal is always to make our clients as appealing as possible to a seller to help increase their conversion of getting their offer accepted. trillion in cash-out refis in 2021, up 20% compared to the prior year, the highest volume since 2005. ” Others that leaned purchase in 2021 included depository U.S.

Mortgage 526

Mortgage Marketing Retail Lending 526

Lamacchia Realty

JANUARY 25, 2024

It kept inventory down, which propped up prices, but sales are down nearly 22%, and buyers are hungry. A year later, still no crash, which had more to do with the decrease in inventory than the decrease in sales. A lot of it had to do with anemic inventory. Average prices for closed sales increased by 3.4% Sales Decline by 21.7%

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Inventory Sellers Contracts Buyers 73

Annarbor Appraisal

APRIL 9, 2020

In it I included a year over year chart of all sales through the local MLS back to 2005. This information clearly shows a declining trend from the 2005 data down to a low point between 2009 and 2011. Buyers, sellers, and the Realtors who work with them are adaptable, and some transactions have continued via virtual showings.

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Property Taxes Buyers Sellers Realtors 78

Lamacchia Realty

OCTOBER 17, 2024

Inventory of homes listed reached a record low by July of 2023 , and mortgage rates increased dramatically, diminishing buyer affordability. Furthermore, potential sellers with covid-era mortgage rates of around 3% weren’t listing because they’d have to give up that historic rate and trade it for one that is likely two times higher or more.

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Bracketing Marketing Sellers Buyers 69

Lamacchia Realty

JUNE 21, 2022

In early March it was becoming clear that the market was changing from a frenzied post-pandemic scene to one where rising mortgage rates would slow it down and help inventory finally rise back up. For the past few years, with inventory at historically low levels , sellers were coming pretty close to naming their price and buyers were paying.

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Housing Market Bracketing Marketing Sellers 67

Lamacchia Realty

APRIL 15, 2022

Sellers kept listing, albeit, at a much slower pace, and buyers were buying at the highest rate in over 15 years, absorbing inventory faster than ever. Low rates, even lower inventory, maxed out demand, and anemic supply remained the name of the game for well over a year until this past winter, when it truly plunged to incredible lows.

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Marketing Sellers Buyers Inventory 68

Lamacchia Realty

FEBRUARY 22, 2022

The 2021 Massachusetts Year in Review Housing Report breaks down average prices, sales, inventory, new active listings, and pending sales for 2021 compared to 2020 and illustrates what that means for the current market. Below is a graph that illustrates home sales per year since 2005. Inventory of Homes for Sale. That’s a 37.4%

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Inventory Sellers Buyers Real Estate 54