This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
The rules of supply and demand economics always end up winning and weekly newlisting data is key. Newlisting data is growing year over year, but it will be the second-lowest newlisting data ever recorded in history. With more sellers who are buyers, we have a tad more demand this year.
Even as mortgage rates rose, and affordability was pushed out of reach for many potential homebuyers, there are still sufficient buyers who can afford these prices and these rates. The number of buyers has been surprising. The median price of the newlistings this week is $399,900. Home prices declined subsequently.
November newlistings fell by about half of the previous month’s rate while home prices saw a welcome decline. Even with mostly lower prices, affordability remains the biggest challenge for buyers as mortgage interest rates climbed toward 7%. The number of newlistings tumbled 48% from October and was down 2.7%
Now that the Federal Reserve has cut interest rates, home buyers should swarm the market with low-interest mortgages …. Buyers who enter the market now will enjoy some of the best selection of homes since before the pandemic as supply grows, competition wanes and home prices slip. The number of Active listings is another eye-opener.
Additionally, climate change, including rising sea levels and more frequent storms, made coastal properties less attractive to some buyers. This report breaks down sales, average prices, the number of active listings, and how many listings went under contract for 2024 compared to 2023 and discusses what is predicted to unfold in 2024.
For now, potential home buyers and sellers are mostly in a wait-and-see mode. The county has more homes for sale (4440) than any month since September 2022 (4616), presenting great options amid less competition for determined buyers today and improved leverage in negotiations with sellers. Will a cut make a difference to buyers?
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.
The Seattle/King County housing market inched forward – and a little sideways – as the number of new and unsold listings continued to expand in June while fresh signs of a slowdown approached. Home prices continued to confound buyers by climbing toward record highs as summer began. New single-family-home listings rose 3.8%
Except for the pandemic year of 2020, last month was the slowest April since at least 2008 when easy access to Northwest Multiple Listing Service data became available. The figure was 37% lower than a year ago and, for context, the five-year average of newlistings for the month just before the pandemic began was 4021.
Prices have soared in most areas – including a 30% jump in the past year for single-family homes in King County – amid a shortage of inventory and a sharp rise in the number of buyers. Flood of buyers – As I noted last month , Millennials will fuel this housing market for at least a decade to come as about 4.5 range won’t last forever.
The plans aim to build or preserve more than 2M homes by offering tax credits to builders and buyers, as well as provide funding to promote housing near transit hubs, down payment assistance for first-time buyers, and grants for housing preservation. Four percent of Gen X buyers got a home with friends. >> homeowners.
We organize all of the trending information in your field so you don't have to. Join 9,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content