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The health of this housing market: Comparing 2024 data to 2011

Housing Wire

Let’s look specifically at the current market data compared to 2011. Why choose 2011? The housing bubble crash years of 2008-2011 saw a surge in foreclosures due to the lack of selling equity and this also profoundly impacted housing demand. Last week in 2011, 396,955 homes hit the market without a contract.

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Existing home sales data shows extent of housing inflation

Housing Wire

Today the National Association of Realtors reported that existing home sales fell once again to 4.80 Existing home sales have more legs to go lower, especially now that new listing data is falling. However, it’s not the market of 2002-2011. From NAR Research : “Total existing-home sales notched a minor contraction of 0.4%

Inventory 482
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Are you fighting margin compression with data or guesses? 

Housing Wire

But, the really painful trend is new listings data. New listings data is trending at the lowest levels ever recorded in U.S. Last week there were only 62,000 new listings that came to the market. Back in 2011, it was 101 days. The new listings data trending at all-time lows does not help that at all.

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Existing home sales are working from a historic low bar

Housing Wire

To give you all some perspective, this data line dropped all the way to 14 days in the crazy period of COVID-19, while back in 2011, it was 105 days. In the CNBC interview, I stressed that we do have one positive on the inventory side of things: we are seeing new listings data growth.

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Massachusetts 2024 Year in Review

Lamacchia Realty

2024 Listings Rise for the First Time in Two Years After two years of significant decreases in the number of homes listed, with last year being lowest amount of new listings since 1994 , 2024 exhibited a 7.7% rise in the number of listings. Pending Sales Increased by 4.2%

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Rhode Island 2024 Year in Review

Lamacchia Realty

2024 Listings Rise for the First Time in Two Years After two years of sharp declines in home listings , including 2023’s record low since 1994, 2024 saw a 10.1% increase in new listings. However, as circumstances changed, many decided it was time to move on, leading to a notable rise in listings.

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Maine 2024 Year in Review

Lamacchia Realty

2024 Listings Rise for the First Time in Two Years After two years of significant declines in home listings , including a record low in 2023 since 1994, 2024 saw a 10% increase in new listings. However, as circumstances changed, many sellers decided it was time to move on, leading to a noticeable rise in listings.