Remove 2020 Remove Buyers Remove New Listings
article thumbnail

Will home prices fall in 2025 with more inventory?

Housing Wire

New listings grew 7% from the week prior Last week saw 68,000 newly listed single-family homes. As such, the pace of new listings seems to be picking up for the spring and the post-pandemic era. Additionally, there were 14% more new listings unsold compared to this time last year. Let’s dive in.

Inventory 426
article thumbnail

Where Are Home Prices Rising the Quickest?

Appraisal Buzz

Nationwide, active listings rose 10.7% month-over-month on a seasonally-adjusted basis, hitting the highest level since the early days of the pandemic (June 2020). I recently saw one house get 10 offers and sell for $50,000 over the asking price, and the buyer waived their appraisal contingency. year-over-year, and 1.3%

Contracts 393
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

U.S. Homes Selling at Slowest Pace Since 2019

Appraisal Buzz

Prospective buyers have been cautious because theyve seen homes sitting on the market and theyve heard interest rates and prices may drop. When the market isnt competitive, some buyers think they should wait for costs to go down, said Jordan Hammond, a Redfin Premier agent in Raleigh, NC. The market had 5.2 The market had 5.2

article thumbnail

Home prices rose 3.9% in December, but spring should be less competitive

Housing Wire

annually since 2020 , led by markets in Florida, North Carolina, Southern California, and Arizona. San Francisco , the lowest-performing major market since 2020, saw prices drop by 4.5% “Mortgage rates nearing 7% in January seem to have affected buyers more than sellers,” Zillow senior economist Kara Ng said.

article thumbnail

Housing Inventory Hits Five-Year High

Appraisal Buzz

According to a new report from Redfin , homebuyers have the most options since 2020, but few are biting because rising housing costs have made monthly payments tough to swallow. Active listings of homes for sale rose to the highest level since early in the pandemic. Pending home sales dropped 4.2% year-over-year. They climbed 0.3%

Inventory 397
article thumbnail

Housing inventory is down 40%. Buyers are paying the price

Housing Wire

Instead of making up for the shortfall, new listings have slumped further in 2021. Year-over-year, new listing volumes were down 16% in January and 21% in February — amounting to a 125,000 deficit in inventory compared to the same time in 2020. million, the lowest level of paused payments since April 2020.

Inventory 511
article thumbnail

Home sales are beginning to stall as buyers hit their limit

Housing Wire

The number of homes for sale fell 28% year over year from 2020, and the typical home sold in just 14 days — a record low and, down from 39 days in June 2020. “In June we entered a new phase of the housing market,” Fairweather said. Finally, new listings fell from a year ago in 15 of the 85 largest metro areas.

Buyers 545