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Housing inventory crisis continues in 2022

Housing Wire

Early in 2021, when I was talking about how people should worry about home prices overheating, I had a glimmer of hope that maybe toward the end of 2021 we would be spared another seasonal collapse of inventory. Inventory always falls in the fall and winter, but I hoped it wouldn’t be a repeat of 2020.

Inventory 538
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Buyers viewed just eight homes before making their purchase

Housing Wire

In 2021, homebuyers who successfully purchased a home viewed a median of only eight properties before completing their transaction, according to a report by the National Association of Realtors , published on Tuesday. According to NAR , low inventory is partly to blame for the homebuyers looking at fewer homes than before.

Buyers 448
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International buyers purchase fewest existing homes on record: NAR

Housing Wire

International homebuyers purchased the fewest number of existing homes for any year since the National Association of Realtors (NAR) began tracking the data in 2009. Historically low housing inventory and escalating prices remain significant factors in constraining home sales for American and international buyers alike.”

Buyers 516
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How Andrew Marquis plans to close more loans in a low-inventory market  

Housing Wire

Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. The inventory put a cap on how much business Marquis’ team can do, which is one of the reasons why Marquis is now licensed in 22 states. In our market here in Boston, we have incredibly low inventory.

Inventory 418
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Here’s Why the Share of Existing Homes Bought by International Buyers Is Declining 

Appraisal Buzz

A new survey from the National Association of Realtors (NAR) revealed that from April 2023 to March 2024, foreign purchasers bought $42 billion worth of existing properties in the U.S., The 54,300 existing homes sold—the lowest since NAR began tracking in 2009—slid 36% from the previous year. decrease from the previous 12 months.

Buyers 395
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Homebuilders are primed for an even better 2024

Housing Wire

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. By contrast, in the decade 2009 through 2019, there was an average of 660,000 single-family homes constructed each year.

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Foreigners bought $53B in US existing home sales, a 10% drop

Housing Wire

from the previous year, according to a new report from the National Association of Realtors. It was the lowest number of homes bought since 2009, when NAR began tracking this data. Sharply lower housing inventory in the U.S. Foreign buyers purchased $53.3 billion worth of U.S. Foreign buyers closed on 84,600 properties, down 14.2%

Buyers 370