Appraisal Buzz

JUNE 14, 2024

There have only been two months in the last decade with fewer home sales: October 2023, when mortgage rates reached a 23-year high, and May 2020, when the pandemic brought the housing market to a halt and home sales to an all-time low. New listings: New listings rose most in San Jose, CA (32.7%), Seattle (31.2%) and Denver (31.1%).

Sellers 435

Sellers Buyers New Listings Mortgage 435

Housing Wire

MAY 28, 2021

“We are seeing a typical late-spring slowdown in new listings and pending sales, but prices don’t typically peak until late August, and their growth remains completely unhinged,” said Daryl Fairweather, Redfin’s chief economist. But that’s not slowing down buyers. from a year ago.

Buyers 448

Buyers Real Estate Agent Real Estate Inventory 448

Housing Wire

DECEMBER 2, 2021

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.

Inventory 516

Inventory New Listings Contracts Housing Market 516

Housing Wire

NOVEMBER 9, 2022

In the previous expansion, one of my long-term calls was that the MBA purchase application data will never hit the volume level of 300 until the years 2020-2024. Right on cue, 2020 came and we hit the 300 level. The years 2020-2024 were going to be the time when total home sales could finally reach 6.2 We are up 43% since 2020.

New Listings 508

New Listings Inventory Housing Market Sellers 508

Housing Wire

DECEMBER 28, 2024

Although those 2019 levels represent a five-decade low before COVID-19, the market was still functioning better than it did from 2020 to 2023. During the first few years of COVID-19 recovery, there was an unhealthy imbalance, with too many buyers competing for too few homes. The peak New listings came in a bit over 75,000 weekly.

Inventory 514

Inventory Housing Market Marketing New Listings 514

Housing Wire

MAY 28, 2024

There are more homes on the market now than anytime since August 2020. This number will probably peak at about 700,000 this summer, crossing over 2020 levels at that point. New listings climbed during the past week and there are now 72,000 more single-family homes on the market. immediate sales).

Inventory 534

Inventory New Listings Contracts Sellers 534

Housing Wire

MAY 8, 2024

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. On March 18, 2020, purchase application data broke out to pre-cycle highs in demand. What does that mean? Demographics also play a role here.

Inventory 518

Inventory Law New Listings Sellers 518

Appraisal Buzz

SEPTEMBER 5, 2024

With the total number of homes on the market at its greatest point since May 2020 and interest rates about to start declining, buyers will have more options this autumn. In April we noted that rising for-sale inventory was likely to lead to more balance between buyers and sellers. from July’s levels.

Sellers 397

Sellers Housing Market Buyers Marketing 397

Housing Wire

JUNE 17, 2021

The report also shows the housing market also set new records for home-selling speeds and competition, although seasonally adjusted home sales and new listings flattened from April. “Sellers are still squarely in the drivers’ seat, but buyers have hit a limit on their willingness to pay. . from April.

Housing Market 535

Housing Market New Listings Sellers Buyers 535

Housing Wire

JULY 13, 2021

bidding-war rate Redfin saw in June 2020, when the housing market was starting to rebound from a temporary standstill triggered by pandemic shutdowns, said Laura Sechrist Molenda, a Redfin real estate agent based in Southern California. But recently, we’ve started to see buyers get cold feet. in May and a peak of 74.1%

Inventory 511

Inventory Housing Market Real Estate Agent Buyers 511

Housing Wire

DECEMBER 3, 2020

Total home sales are outpacing new listings by a wide margin every month, and real estate tech company Homesnap foresees the shortage continuing in 2021 unless more sellers enter the market. The divide between supply and demand is striking: compared to last year, total new listings increased.22%,

Inventory 546

Inventory Housing Market Marketing New Listings 546

Housing Wire

MARCH 25, 2024

I like to point out that consumers are more sensitive to changes in mortgage rates than to the absolute levels, and since rates are now basically unchanged for the month, just easing down from the early March peak of 7.2%, sellers and buyers are tip-toeing back into the market. Inventory will cross over 2020 levels by July.

New Listings 511

New Listings Inventory Contracts Sellers 511

Housing Wire

SEPTEMBER 13, 2022

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

Mortgage Inventory New Listings Sellers 525

Housing Wire

MAY 21, 2021

“But there may be signs that some buyers would rather spend their money on restaurants, vacations, and other things they have held back on for the past year, instead of on housing now that the threat of the pandemic is dissipating in America.” 2019 is being used as a reference point since 2020 data is skewed by the pandemic.). .”

Housing Market 540

Housing Market Marketing New Listings Mortgage 540

Housing Wire

SEPTEMBER 12, 2024

That’s according to a Zillow report released Thursday in which the Seattle -based real estate company said that “lower mortgage rates and rising inventory are giving home buyers a window of opportunity at an unusual time of year.“ Buyers have more options to choose from for two reasons. Zillow noted that the U.S. 29 to Oct.

Housing Market 482

Housing Market Marketing Inventory Buyers 482

Housing Wire

APRIL 23, 2023

Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. Here’s a quick rundown of the last week: Active listings rose by 8,546 , and new listing data showed some growth. Again, I am a bit mindful here due to Easter.

Inventory 545

Inventory Housing Market Marketing New Listings 545

Housing Wire

MAY 24, 2021

. “With little supply in the market, homes typically sold within 17 days — down from 27 days one year ago, as buyer competition heats up,” NAR said in a statement. “The share of first-time buyers decreased to 31% from 32% in the prior month, and 36% one year ago. 25% of all sales were cash sales, per the report.

Realtors 497

Realtors Buyers Housing Market New Listings 497

Housing Wire

SEPTEMBER 3, 2024

But while falling interest rates are putting a floor on demand, there’s still no sign of any rush of buyers. New listing numbers are low There were just 59,000 new listings unsold this week for single-family homes. There were another 10,000 new listings that immediately sold.

Inventory 458

Inventory New Listings Contracts Buyers 458

Housing Wire

SEPTEMBER 17, 2024

Like the vast majority of the country, the city’s housing market has been stymied by high mortgage rates, low inventory and mismatched expectations between buyers and sellers. Buyers think it’s a buyer’s market. From March 2020 to July 2022, the median home price rose 23% before hitting a brief lull.

Housing Market 479

Housing Market Marketing Sellers Buyers 479

Housing Wire

SEPTEMBER 25, 2024

New listings healthy There were 70,000 new listings unsold for single-family homes this week. In fact, this is the first time in three years that we’ve had a “normal” number of new listings. There were 70,000 single-family homes listed unsold and another 10,000 immediate sales. Since 2020, the U.S.

Inventory 468

Inventory New Listings Sellers Contracts 468

Housing Wire

MAY 21, 2021

Despite the decline, housing demand is still strong compared to one year ago, evidenced by existing home sales from this January to April, which are up 20% compared to 2020. from April 2020 as every region recorded a price increase. month supply and down from the 4-month supply recorded in April 2020. .” from April 2020.

Inventory 448

Inventory Buyers New Listings Marketing 448

Appraisal Buzz

JANUARY 3, 2025

We are once again expecting mortgage rates to get better gradually, and opportunities for buyers should follow, but be prepared for plenty of bumps on that path. The need for buyers to be prepared to relocate when the time comes is further reinforced by recent and erratic decreases in mortgage rates. 28 New York $680,934 7.0%

New Listings 396

New Listings Inventory Buyers Inspection 396

Housing Wire

APRIL 30, 2023

Weekly housing inventory Since new listing 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. didn’t go into recession until 2008.

Inventory 525

Inventory Housing Market Marketing New Listings 525

Housing Wire

SEPTEMBER 30, 2020

Realtors can usually count on their biggest season being spring, followed by summer, but nothing about 2020 has been normal, including home-buying patterns. With shut-down orders in the spring, summer became the new home-buying season, but homebuyers were still incredibly active in August. Over the last four weeks ending on Sept.

Real Estate Agent 546

Real Estate Agent Real Estate Agents Realtors 546

Housing Wire

DECEMBER 21, 2022

From NAR : “In essence, the residential real estate market was frozen in November, resembling the sales activity seen during the COVID-19 economic lockdowns in 2020,” said NAR Chief Economist Lawrence Yun. Mortgage rates spiked in March, and then the new listing data started to decline at the end of June.

Inventory 531

Inventory New Listings Housing Market Sellers 531

Appraisal Buzz

JUNE 27, 2024

According to a new Redfin study , the average U.S. Since the start of the epidemic in 2020, when the housing market all but collapsed, this is the first year that the average home has sold for less than list price during this time of year. That percentage is down from 36% a year ago and is the lowest for any June since 2020.

Sellers 417

Sellers Buyers New Listings Agents 417

Housing Wire

MARCH 18, 2024

While inventory is growing across the country, some markets are way more impacted and already have more homes on the market than in 2019 or 2020 just before the pandemic. Lower rates mean more buyer competition and less unsold inventory. New listings Last week, 59,000 new single-family listings came to market.

Inventory 468

Inventory New Listings Sellers Contracts 468

Housing Wire

SEPTEMBER 22, 2022

With the home-price growth we had in 2020 and 2021, my five-year price-growth model that I set for 2020-2024 of 23% was already smashed in just two years. Since the summer of 2020, I have talked about what could change the housing market, which was a 10-year yield above 1.94%, which means rates over 4%. million in August.”

Inventory 482

Inventory Housing Market New Listings Mortgage 482

Housing Wire

FEBRUARY 27, 2023

We created the weekly Housing Market Tracker because housing data has been so wild since 2020. Weekly housing inventory decreased by 6,801, while new listing 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.

Housing Market 476

Housing Market Marketing Inventory New Listings 476

Housing Wire

MARCH 6, 2024

This is clear in the chart below, which shows the year-over-year percent change in the four-week average of new listings. This data, courtesy of Altos, shows that new listings retreat when rates rise and accelerate when rates fall: High rates are bad, too, for the sellers who decided to list their homes.

Mortgage 468

Mortgage Sellers New Listings Buyers 468

Housing Wire

MARCH 29, 2024

Buyers are still buying and sellers are still selling. We definitely noticed a downturn last year, which coincided with interest rates going up, and buyers just put the brakes on things and wanted to wait to see what was going to happen. Michaels also noted that his business is still seeing a steady stream of out-of-town buyers. “We

Housing Market 459

Housing Market Agents Marketing Inventory 459

Housing Wire

JUNE 21, 2021

Currently on Realtor.com , more than 2,000 homes are currently on the market in Knoxville with an average listing price of $270,000. According to the Knoxville Area Association of Realtors , the number of houses for sale in 2020 was down 47.5% The KAAR also said housing inventory dropped for six straight months to start the new year.

Housing Market 459

Housing Market Marketing Realtors Inventory 459

Housing Wire

SEPTEMBER 3, 2024

In response, Bright MLS chief economist Lisa Sturtevant noted that while “declining rates are good for both buyers and sellers,“ rates are not yet low enough to alleviate the lock-in effect that has stopped many potential listings in their tracks. at the end of the year.“

Mortgage 501

Mortgage Inventory Buyers Sellers 501

Housing Wire

MARCH 22, 2024

In the nearby metro area of Cape Coral-Fort Myers , active single-family inventory over the previous 90 days averaged 6,500 listings as of March 15, above its March 2020 level of 5,044 listings and approaching its March 2019 level of 7,243 listings. Smith attributes the uptick in inventory to a bump in new listings.

Insurance 448

Insurance Inventory Marketing Real Estate 448

Housing Wire

JULY 24, 2024

Prospective buyers from out of state often come to Indiana for its growing job market, low taxes and relatively affordable housing. Indianapolis-area Realtor Annie Caruso, a founding member of Circle Real Estate, had a buyer coming from the Chicago area for just these reasons.

Marketing 448

Marketing Realtors Buyers Property Taxes 448

Housing Wire

MARCH 1, 2024

We were up year over year in inventory , but we were at a 25 year low on new listings.” Both buyers and sellers are coming back to the market,” Fischer said. 23, 2024, the 90-day average for single family listings in the state was 9,927, down from 14,314 single family listings in late February 2020. “It

Housing Market 468

Housing Market Marketing Inventory Construction 468

Housing Wire

AUGUST 4, 2024

We can’t have a functional housing market with the inventory levels we saw from 2020-2023. While I didn’t get my minimum target of 80,000 new listings during the peak seasonal weeks this year, it was good to see growth. With more sellers who are buyers, we have a bit more demand this year.

Mortgage 518

Mortgage Inventory New Listings Housing Market 518