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Why purchase application data is below 2008 levels

Housing Wire

But I need to explain why this level has more in common with 2014 housing data than the credit stress markets of 2005-2008, and why you should care. With the massive housing inflation since 2020 and higher mortgage rates, we are back to familiar territory with existing home sales and purchase application data: we are back to 2014 levels.

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Spring forecast: More inventory and rising home sales

Housing Wire

New listing volume last week was 18% more than a year ago. NAR reported 33% all cash buyers, which is the most since 2014 when buyers were still cleaning up distressed properties. That’s 18% growth over last year when we include the immediate sales that were newly listed and are already in contract.

Inventory 488
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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.

Mortgage 525
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Housing Market Tracker: Inventory finally rises

Housing Wire

Here’s a quick rundown of the last week: Active listings rose by 8,546 , and new listing data showed some growth. If that is the case, then this week’s gain in active inventory and new listings needs to be taken with a grain of salt until we get next week’s data. However, I will take what I can now.

Inventory 545
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Housing Market Tracker: Spring inventory falls

Housing Wire

Just when I thought it was safe to say we were getting more traditional spring housing inventory , we hit a snag last week, as active inventory and new listings declined. New listing data was trending at all-time lows in 2021 abd 2022 and now it’s creating a new all-time low trend in 2023.

Inventory 505
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Housing Market Nears $50T Valuation Milestone

Appraisal Buzz

trillion in June 2014. Chen Zhao, Redfin’s Economics Research Lead, predicts that the market will likely surpass $50 trillion within the next 12 months due to a lack of new listings keeping prices elevated. In a decade, the value of U.S. homes has more than doubled, rising nearly 120% from $22.7 and 5.9%, respectively.

Valuation 417
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The standoff between homebuyers and sellers

Housing Wire

million active listings, but at just 1.28 This doesn’t mean homebuyers don’t have something of an edge now: As inventory has increased and buying power has faded, the buyers who are available are dealing with a lot less competition as the bidding wars are ending. million today. for 2022 is going to be wrong and too low.

Sellers 514