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Nonetheless, increasing price reductions and declining pending house sales indicate that buyers are being cautious, most likely as a result of the uncertain economic climate and customers growing anxieties about their individual financial circumstances. of listings, the largest percentage for any March since at least 2016.
But we didnt really see any change in the buyer demand metrics until rates got closer to 6%. While single-family listings are still 22% fewer than February of 2019, the unsold inventory of condos is roughly back to the old normal levels. NewlistingsNewlistings also dipped for the second week in a row.
The rules of supply and demand economics always end up winning and weekly newlisting data is key. Newlisting data is growing year over year, but it will be the second-lowest newlisting data ever recorded in history. With more sellers who are buyers, we have a tad more demand this year.
Here’s a quick rundown of the last week: Active listings rose by 8,546 , and newlisting data showed some growth. If that is the case, then this week’s gain in active inventory and newlistings needs to be taken with a grain of salt until we get next week’s data. However, I will take what I can now.
Weekly housing inventory Since newlisting data was trending at all-time lows in 2023, some feared we wouldn’t see the typical spring inventory increase. After the last few weeks , we can put that fear aside: we are finally getting the seasonal increase in active listing. This link explains the difference and is worth a read.
Weekly housing inventory decreased by 6,801, while newlisting data is still negative year-over-year. I call this rate lock risk, where some buyers don’t qualify or don’t want to continue the purchase until rates fall again. Rates spiking almost 1% in mere weeks is damaging because it can take some previous buyers out of play.
Active inventory fell 1,109, and newlisting data made a lovely comeback week to week but was still noticeably down year over year. One piece of good news last week was that the newlisting data, which saw a significant collapse two weeks ago, rebounded excellently to return to a usual trend.
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 newlistings declined. Newlisting data was trending at all-time lows in 2021 abd 2022 and now it’s creating a new all-time low trend in 2023.
This rapid increase in prices, coupled with local housing inventory dropping over 50% in 2021, has meant times are tough for buyers looking to settle in Bluffton. As we head into spring I do expect to see continued appreciation, and I am hopeful we will continue to see more listings come on the market. Greenwich, Connecticut.
Newlisting data collapsed, but we are putting an asterisk on that data line for this week. Now the bad news: newlisting data fell so much this week that I am putting an asterisk on this week’s data until we see if this is a trend or just a one-off in the weekly data that can occur from time to time.
The trends in this chart show how quickly home buyers reacted to the big mortgage rate jumps in 2022. My guess though, is that inventory will continue to climb into late August and resemble 2021 more than say 2016. The median price of the newlistings is $400,000 this week. Balanced between buyers and sellers.
The chart (below) puts it in sharp focus: Except for the pandemic year of 2020 when there were 2559 newlistings that April, last month was the slowest April since at least 2008 when easy access to Northwest Multiple Listing Service data became available. Where are all the sellers? There are 1.7 months in Seattle and 1.2
It also looks at other metrics like NewListings and New Pending Sales as they are often the best indicators for predicting future trends in the market. A slight increase in listings for both single families and condos/townhomes is a positive sign for buyers as this may help with selection. . Buyer Resources.
It also looks at other metrics like NewListings and New Pending Sales as they are often the best indicators for predicting future trends in the market. South Florida is seeing a dip in sales, newlistings, and new pending sales overall, while prices are still increasing. Buyer Resources. No Comments.
It also looks at other metrics like NewListings and New Pending Sales as they are often the best indicators for predicting future trends in the market. Lately, as well, buyers who were originally looking for singles have set their sites on condos to avoid paying single family prices. Miami-Dade & Palm Beach Counties.
It also looks at other metrics like NewListings and New Pending Sales as they are often the best indicators for predicting future trends in the market. The dip in May 2020 sales, newlistings, and pending sales reflected the log jam that the real estate industry experienced during the shutdown. What's Ahead?
The number of newlistings has decreased but so has the number of pending sales, which means that inventory is lingering longer than it has been which is a positive sign for buyers. Therefore, buyers need to capitalize on the higher inventory while the iron is hot, as it’s going to be the best time to buy in two years.
As the chart shows, a historically large segment of Millennials is inching toward 36, the median age of a first-time home buyer in the U.S. An index score of 100 means that a buyer with a median U.S. The national trend for new construction, however, is generally moving in the opposite direction.
It also looks at other metrics like NewListings and New Pending Sales as they are often the best indicators for predicting future trends in the market. The dip in April 2020 sales, newlistings, and pending sales reflected the log jam that the real estate industry experienced during the shutdown. Broward County.
It also looks at other metrics like NewListings and New Pending Sales as they are often the best indicators for predicting future trends in the market. The dip in June 2020 sales, newlistings, and pending sales reflected the log jam that the real estate industry experienced during the shutdown. respectively.
Market adversity is showing up clearly: inventory of both single families and condos is rising due to an uptick in listings, while pending and closed sales are dropping. As shown in the chart below, February 2025 saw the highest percentage of active listings with price adjustments than in the past six years.
But as potential buyers and sellers begin mapping out their plans for the future, understanding how the state’s real estate market is shifting is essential. This change in rates caused homes to immediately become significantly more expensive for buyers. Down from 111,187 in 2021) 2022 was on par with 2016 sold numbers.
More buyers are making larger down payments. Buyers in the U.S. >> Through February, the number of existing home listings across the U.S. offers made on every sold home in February, NAR reported, and properties across the nation are currently finding a buyer in a record-low 20 days on average. >>
The Institute outlined four ways innovative builders could accommodate the emerging buyer wants: Immersion into nature. Here’s a negotiating tactic that you may not have thought of: Sellers who “spy” on buyers when they are visiting the home. Those surveyed said they wanted to listen in on what buyers do and don’t like about the homes.
Even stock investments, the source of many down payments for buyers, have taken a heavy blow. Any prospective home buyer working outside the tech sector may be watching from the sidelines until the economy becomes less volatile. FOR FIRST-TIME BUYERS, NOW WHAT? The portion of first-time buyers among the pool of U.S.
As home prices surge and people delay – or forgo – nuptials, buyers are pooling their finances with unmarried partners, roommates or friends to purchase a place. >> Since 1980, cash buyers paid about 11% less on a home than those using a mortgage, according to a study from researchers at the University of California-San Diego.
The Biden administration’s $2T infrastructure plan includes $213B allocated for housing, with a focus on low- and middle-income homeowners and potential buyers. >> Seattle home prices have skyrocketed 68% since May 2016, according to new data from the Case-Shiller Price Index. POTENTIAL TAX SAVINGS. BY THE NUMBERS. >>
SPOTTING TRENDS Builders are hearing from prospective buyers: Developers are being asked to create stylish and functional homes with little compromise on size and at lower prices. The market is now in the process of thawing after a lengthy cool down, as buyers begin anew to seek change in their home dynamics. It’s a 3-bedroom, 1.75-bathroom
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