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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. This contract data will grow if mortgage rates head lower and stay lower.

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Eight states now have more unsold inventory than in 2019. Here’s why.

Housing Wire

That means currently just over 700,000 single-family homes are unsold, with about 10% of those going into contract each week, and another 75,000 new listings. But still, there are about 300,000 fewer homes on the market now than in August of 2019. And eight states have more unsold inventory than in 2019.

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Which metros are seeing a surge of home sellers?

Housing Wire

If you’ve been paying attention, you know that the housing supply isn’t just the unsold inventory, it’s also a factor of new listings volume each week. The signal that we watch for in the new listings count is whether there are too many sellers. Interestingly, inventory is now only 21% fewer than in 2019.

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What happens to the housing market when mortgage rates finally come down?

Housing Wire

If we look at the housing market right now, sales are down, new listings are down and prices are decelerating. Home prices and new listings dipped too. On the pricing side, last week had the first negative print on year-over-year price for new listings. Is it darkest before the dawn? However, most of the U.S

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Housing inventory has never been lower

Housing Wire

During the four week period ending November 28, the number of active listings was a 23% decrease compared to the same time period in 2020 and a 42% drop compared to 2019. The number of new listings was also down compared to 2020, dropping 4%, but it was 12% higher than the number of new listing during the same time period in 2019.

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Housing inventory is seeing unusual gains in November. Should we be worried? 

Housing Wire

more homes for sale than last week and 36% lower housing inventory than in 2019. In fact, Austin and San Antonio in Texas, as well as Memphis, have more housing inventory now than in 2019. That’s more new sellers this year than the same week a year ago, signaling a tiny improvement in our supply-starved housing market.

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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. Pending sales Last week saw 69,000 new contracts for single-family home purchases across the country. That brings us to 367,000 single-family homes in the contract pending stage. That’s 60,000 new listings and another 17,000 immediate sales.

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