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The seasonal housing inventory bottom evaded us again last week as active listings fell and newlisting inventory decreased. Here’s a quick rundown of the last week: Active inventory fell 5,383 last week, and newlisting data is still trending at all-time lows in 2023.
Just when I thought it was safe to say we were getting more traditional spring housing inventory , we hit a snag last week, as active inventory and newlistings declined. Newlisting data was trending at all-time lows in 2021 abd 2022 and now it’s creating a new all-time low trend in 2023.
In Denver in particular, newlistings increased 29.12% month-over-month and 22.63% year-over-year. Active listings at month’s end rose 13.14% to 5,511 homes, an astounding 45.87% gain year-over-year. After the last crash, builders scaled back significantly and never fully recovered to pre-2007 levels.
Nor can we ever have a credit sales boom again with lending standards back to normal. Total Inventory had been growing from 2001-2005; total listings data in 2005 was at the higher historical range of 2.5 million listings. I don’t need to see total active listing get back to the historical range of 2-2.5 From Redfin.
Despite the continued appreciation, both real estate economists and the general public are starting to worry about the shadow of a second recession (the dramatic downturn of 2007 still on their minds). The Housing Market Is Going Strong… for Now The year 2019 started with a bang, and this wasn’t even news.
Despite the continued appreciation, both real estate economists and the general public are starting to worry about the shadow of a second recession (the dramatic downturn of 2007 still on their minds). The rise in stock is not always due to the appearance of newlistings, but also the result of properties sitting on the market.
First a look at September’s numbers: A wave of last-chance listings for the year hit the market after Labor Day. That increased newlistings by 7.5% (2884) and available homes on the market by 12% (3602) between Sept. Seattle alone saw a 29% (1213) monthly increase in newlistings. 1 and Oct.
The sellers custom built the home between 2007 and 2009, using high-end materials and finishes, including a wall of windows and 26-foot-high ceilings in the great room. In Bakersfield, for example, Golden Empire MLS participants can submit a form to post newlistings, open houses and price changes. What does your MLS have?
This looks a lot like the housing boom that we saw prior to the 2007–09 financial crisis.” That percentage was last seen in September 2007 – yes, at the start of the housing crisis (as the chart shows). That was within the 28% ceiling considered affordable by common lending standards. The potent combo of rising U.S.
While investors of mortgaged securities help dictate their interest rates, the Federal Reserve is behind the scenes influencing the overall lending environment. Waller went on to say this adjustment is in no way like the horrific housing/financial crises of 2007-2010. That’s the first time a Fed official has acknowledged the U.S.
Others – Meritage Homes (+20% YoY in 2021) and Tri Point Homes (+15-30% YoY in 2022) – expect tremendous growth of new communities. And many of the new projects are larger than in years past. That’s the most since 2007. Active listings as of Sept. Yes, more homes are coming to a neighborhood near you.
As you can see in the chart below, the credit markets broke in 2005, 2006, 2007 and 2008, and then the job-loss recession of 2008 started, which made things much worse. My crusade in the last decade was about ensuring lending standards are never eased because standards are already liberal today, but not crazy anymore.
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