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Weekly pending contracts for the past week over the past several years: 2025: 288,605 2024: 297,402 2023: 283,689 Weekly housing inventory data The highlight of 2024 for me was the growth in housing inventory as we began to return to normal levels. Weekly inventory change (Jan. Weekly inventory change (Jan.
Housing credit channels directly impact housing inventory channels. Home prices escalated out of control after 2020 and when we look at why that happened, we can see that housing credit mattered more to inventory data than most people realize. This matters because inventory was already heading toward all-time lows before COVID-19.
Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. Still, we have some promising signs that we might have finally hit the inventory bottom for 2023.
Weekly housing inventory data Inventory hit another one of my target levels this week, making it four times this year! My rule of thumb has been that inventory should have some weekly positive prints between 11,000 and 17,000 as long as rates are above 7.25%. Last week we saw positive inventory growth of 13,593 !
history, and because of that, not even low inventory could prevent home prices from declining month to month in the second half of 2022. Now we can talk about the final stage: inventory in the U.S. Housing inventory The No. Housing inventory The No. I mean, it’s year 11 now of the housing bubble 2.0
Inventory levels broke to all-time lows and thus created massive housing inflation quickly, which broke my model. We saw this happen in 2013-2014 and 2018-2019. The glaring difference between now and 2014 is that total inventory levels are roughly 1 million lower now than the peak of 2014. nominal per year at most.
The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. From 2013 to 2022 I forecasted price growth every year.
Since they were distressed forced sellers, inventory skyrocketed in 2006 and stayed very elevated in 2007 and 2008. Total inventory levels. NAR: Total Inventory levels 1.22 million Historically inventory levels range between 2 million and 2.5 Rate above 7% made things even worse.
In contrast, multifamily starts fell 16.4%, to one of the slowest monthly paces since 2013, not including this past April.” Builders are gearing up for an even faster pace in the months ahead, which is welcome news for households wanting to buy a new home,” Fratantoni said. . “The former rose 8.5%
Real estate agents in the leafy suburbs of Bergen County, New Jersey say the current housing market — with historically low inventory and record-high prices — is actually more challenging than the multiple offer chaos they sweated through during the pandemic. “At Even if we get more listings, it is not going to be enough for people.
People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% We saw this in 2013-2014 and 2018-2019. We see some of this in the active listing data as newlistings are declining. Also, we have to know that we aren’t working from a high level of inventory data as well.
year-over-year decline in existing home sales in September and total inventory has now fallen on back-to-back reports. Earlier in the year, I labeled this a savagely unhealthy housing market based on the premise that Inventory would break to all-time lows, creating forced bidding and causing days on the market to collapse.
While we still have a significant shortage of housing inventory in Cuyahoga County, we had more active listings last month than we had in December 2020 and 2021. The chart below reflects the total active single-family listings in Cuyahoga County. But it appears that we have hit the bottom when it comes to active listings.
The goal of this type of letter is to promote a newlisting in the neighborhood, to position yourself as the expert by providing information about the listing, and to find more business. Many of us are in sellers’ markets with very low inventory. Inventory is extremely low, and the competition is fierce.
To get a real price crash, we would need to see a surge of housing inventory and distressed sellers. As you will see below, inventory is growing, but it’s been a calm, healthy rise in 2024, not a flood of houses coming onto the market. Using the NAR data, the normal amount of active inventory since 1982 has been between 2 and 2.5
If we were to pinpoint the standout factor, it would be the remarkably low number of homes listed, the lowest in over two decades. This scarcity in inventory had the effect of keeping prices high, but there was a substantial decrease in sales, approximately 19%, leaving prospective buyers eager. Maine Sales Decreased by 18.9%
Dara’s ability to listen to clients and her attention to detail landed her Exceptional Service Awards in 2011, 2012, and 2013 from Cartus/USAA, one of the nation’s largest relocation organizations. A: The obstacles Millennial real estate buyers face for owning a home in the Boston market come down to low inventory.
year-over-year to $336,200 in February – the largest increase since July 2013, according to the latest report from Redfin. Home prices have skyrocketed in the past year, and data from Redfin backs up what buyers, sellers, and agents have known for months. The national average of home prices rose 14.4% by the end of 2021.
First, let’s set the scene: Housing inventory is shrinking year to year in most parts of the country and there are no signs of significant replenishment over the horizon. building permits were granted in Seattle between 2013 and 2022, with 85K of them for multi-family construction. homes shy of what’s needed today.
A record-breaking 36% of homes sold above list price in February, due to historic homebuyer competition. Housing is expected to remain resilient despite low inventory, with accelerated U.S. Read on for the latest in appraisal news. FHFA extends relaxed lending and appraisal standards to the end of April. in Q2 and 6.6%
Weekly pending contracts for the past week over the past several years: 2025: 266,015 2024: 275,559 2023: 241,975 Weekly housing inventory data As we begin 2025, we are closely monitoring the performance of inventory data. Over the past decade, we typically observe the lowest inventory levels in February, as we did last year.
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