Remove 2012 Remove Buyers Remove New Listings
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New listings data is growing and prices still aren’t crashing

Housing Wire

The rules of supply and demand economics always end up winning and weekly new listing data is key. New listing data is growing year over year, but it will be the second-lowest new listing data ever recorded in history. With more sellers who are buyers, we have a tad more demand this year.

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Home sales are beginning to stall as buyers hit their limit

Housing Wire

from May to June, the largest drop at this time of year on record since at least 2012, according to a new Redfin study released this week. “Home sales are starting to stall because prices have increased beyond what many buyers can afford. Finally, new listings fell from a year ago in 15 of the 85 largest metro areas.

Buyers 545
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Buyers showing renewed interest in condos

Housing Wire

That’s quite the contrast from back in 2012, when Redfin reported that condos were selling for more than 4% below asking price. “Many buyers who have been priced out of the market for single-family homes have turned to condos,” Fairweather said. Seasonally adjusted condo sales were up significantly in June, rising 59.7%

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Why purchase application data is below 2008 levels

Housing Wire

Post-2012, whenever mortgage rates rise, existing home sales always trend below 5 million. Homeowners are in a better financial situation now, they live in their homes longer and longer, so the inventory channels have been much different post-2012. New listing data is down 5% year to date, as you can imagine.

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How housing credit is shaping housing inventory

Housing Wire

Since most sellers are buyers, inventory should be stable if demand is stable. Now, nobody is listing their homes to sell and buy unless they’re 100% pre-qualified. On top of more legitimate buyers, we fixed the credit markets, meaning housing credit looks fantastic. Demographics also play a role here.

Inventory 518
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Are we seeing a mortgage rate lockdown?

Housing Wire

Typically we have a natural set of new listings each year; inventory rises in the spring and summer and then falls in the fall and winter. It wasn’t the rate move that caught my attention — it was the new listing data. As you can see below, that sharp move to 6.25% caused new listing data to stall at first.

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Have we found the bottom in existing home sales?

Housing Wire

” 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. This explains why total active listing inventory data has been stable over the decades, with the exception of 2006-2011, when those forced distressed credit home sellers couldn’t buy.

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