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Additionally, our weekly pending contract data and newlistings are trending positively compared to last year. Last year, I estimated that a minimum of 80,000 homes would be listed every week during the peak seasonal months, and my prediction was only off by 5,000.
24): Inventory fell from 569,898 to 565,875 The all-time inventory bottom was in 2022 at 240,497 The inventory peak for 2024 so far is 739,434 For some context, active listings for this week in 2015 were 1,104,310 Newlistings data While active inventory didn’t rise, we did get a nice boost in newlistings this last week.
Newlistings data has been moving lower over the last few weeks. But, we need to see more growth in newlistings data just to grow from 2023 levels. 2023 newlistings data was the lowest ever on record, so it’s already a low bar. We have a much more normal marketplace in 2023 and 2024.
One of my critical forecasts for 2024 was the growth of newlistings data and active inventory, even with higher mortgage rates. However, the newlistings data has slightly disappointed me. Newlistings data I am pleased that we’ve seen newlistings data grow year over year — it’s a big step forward.
Newlisting data appears unafraid of the mortgage rate ghost story over the last few months. Unlike last year, when newlistings data had a noticeable move lower once mortgage rates reached 6%, 8% mortgage rates haven’t had any noticeable impact on the latest newlistings data. If we start from Nov.
The three years in the post-pandemic housing market have been marked by very few sellers 60,000 newlistings in a given week vs. 80,000 in years’ past. Newlistings are low As we look deeper into the supply side of the market, there were 32,500 newlistings unsold this week.
And remember, mortgage rates fell to around 6% in late 2022 and early 2023. I wholeheartedly believed that newlistings would hit at least 80,000 during the season’s peak weeks this was the norm before the pandemic shook things up. By early 2024, mortgage rates increased slightly to 6.63%.
While it’s common to see a seasonal dip in volume at this time of year, theres a silver lining: we’ve been observing solid year-over-year growth when comparing our data to 2022 and 2023. However, Im excited about the story behind the current market inventory has grown from the depressed levels we experienced in early 2022.
Remember that 2023 had the lowest newlistings data ever and 2024 will have the second lowest. Here are newlistings for last week over the past several years: 2024: 62,876 2023: 57,229 2022: 59,458 Price-cut percentage In an average year, one-third of all homes take a price cut — this is standard housing activity.
Florida had an uptick in inventory with a bit of a rebound in newlistings now that the storms are over. Newlistings go up This year continues to have slightly more sellers than last year but fewer than we used to get in past years. There were 60,000 newlistings unsold this week for single-family homes.
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. 2024 has a much healthier inventory level.
. “While sales and prices remained fairly similar compared to a year ago, we saw significantly more newlistings this January,” Brad O’Connor, chief economist for Florida Realtors, said in a statement. “Newlistings of single-family homes were up 16.7%
This is measurable in both the total unsold inventory and the number of newlistings each week. That pace slowed dramatically in 2022 and turned negative in January 2023. In 2022, we could see very specific, very rapid moments of home prices dropping. Ive highlighted those in the green line here from 2022.
We saw this in September 2022, again in September 2023, in May 2024, and in February 2025. Newlistings Home sales growth has been one trend of the last month. There were just over 76,000 single-family newlistings unsold this week. This chart has a line for the weekly newlistings each year.
Newlistings move upward, but remain historically low Altos uses new real estate listings data as a key indicator of seller activity in the D.C NewListings are the homes that were listed for sale in a given week and added to the active inventory. housing market. As unemployment in D.C housing market.
The last two years were the two lowest newlistings data years in history. We also got to 80,000 in 2021 and 2022, so I am not asking a lot here, but we didnt get it last year when I was sure we would. Weekly inventory change (Jan. 31-Feb 7): Inventory fell from 634,979 to 632,367 The same week last year (Feb.
Newlistings To get a lot of homes on the market though we need some sellers. There were only 54,000 newlistings of single-family homes unsold this week. There were another 10,000 newlistings immediate sales which makes 64,000 homesellers. Unsold newlistings amount to 4.8% Thats not a ton.
The New Years week was expected to be slow, so it’s no surprise that newlistings and sales are down. The Christmas and New Year’s holidays fell on Wednesdays this year, which messes up two full weeks in terms of getting home sales done and tracking the numbers. Those will start rebounding in next weeks data.
In the 24 months beginning March 2022, the U.S. After an initial rush to get to market in Q2 2022, newlistings volume fell precipitously. In July 2022, newlistings volume per week dropped from 90,000 at the end of June to approximately 74,000 just after the July 4th holiday.
Did the recent move in higher mortgage rates impact the newlistings data more than normal? I hope this isn’t the case, but we had a noticeable move lower in newlistings last week. Weekly active listings rose by only 6,618. 9, 2022 , it’s been 21 positive prints versus 17 negative prints and one flat week.
It is important to note that mortgage rates rose to around 6% in late 2022 and early 2023. Weekly housing inventory data The best story for housing is the housing inventory growth we’ve seen since the historically low levels we saw in 2022. By early 2024, mortgage rates increased slightly to 6.63%. Weekly inventory change (Feb.
home listing that went under contract stayed on the market for 54 days, which is the longest period since March 2020 and one week longer than it was at this time last year. The average home was selling in 35 days at this point in 2022, during the pandemic-driven surge in home purchases. The market had 5.2
In the 24 months beginning March 2022, the U.S. However, if you ask, most people think the mortgage lock-in occurred in 2022. million fewer home sales between March 2022 and December 2023. By Q1 2022, 80% of mortgage holders were locked in with their incredibly cheap financing.
Since 2022, whenever mortgage rates have approached 6% it’s because the bond market is concerned about the economy slowing down. The last two years were the two lowest newlistings data years in history, and they were also not healthy years for the newlistings data. Weekly inventory change (Feb.
That shortage reached its crisis peak in January 2022. Newlistings on trend Nationally, there were just 31,000 newlistings for single-family homes from the last week which included Thanksgiving weekend. Notice how basically every year over the last decade, we had fewer and fewer homes for sale.
Newlistings volume is trying to grow with its biggest week since September. List prices inched up for the week, though sales prices did not advance. NEWLISTINGS There was a nice jump in the newlistings volume this week. I have the weekly newlistings volume in this chart.
Limited inventory, supply chain disruptions and concerns about inflation have led economists at Fannie Mae to lower their mortgage origination forecasts for the remainder of this year and into 2022. It also downsized its 2022 mortgage origination volume forecast by $55 billion to $3.25 trillion from the $4.36 growth projection.
Newlistings rise There were just under 61,000 newlistings unsold this week. So, the newlistings volume last year was low and dropping. While it’s late in the year, you could say that the weekly newlistings are in the “old normal” range now. are staying resilient right now.
In 2022, it was the end of the post-pandemic boom and buyers were rushing to get a home before mortgage rates climbed, so there was steep price appreciation in the first half of the year. But by June, prices peaked for the year while remaining below the June 2022 peak. In 2023, the spring slope was much less steep.
Newlistings remain low as owners lock in Altos’s data for newlistings accounts for single-family homes that come to market without an immediate or pending contract. Newlistings for single-family homes or condos are key indicators of seller behavior and newlistings ramped up during the week of Feb.
LAs housing market has largely stabilized after the turbulence of the post-pandemic years and the rapid rise of mortgage rates beginning in 2022. While most of the country is suffering from declining inventory, LAs is up 33% year over year, and pending new sales have gradually risen since the beginning of 2023.
Active listings of homes for sale rose to the highest level since early in the pandemic. Newlistings hit the highest level since July 2022, increasing 1.9% Newlistings: Newlistings rose most in Seattle (30.8%); Oakland, California (27.7%); and Sacramento, California (25%). They climbed 0.3%
We created this weekly tracker at the end of 2022 to give people a live weekly outlook on everything that drives the housing market and which factors to follow. 9, 2022, and they’ll be ready for what’s coming next. So today’s tracker is focused on 2023, the inventory data, and how different this year was from 2022.
However, let’s keep an eye out on this story over the next six months because of what late 2022 and 2023 data has shown us: if the mortgage rates fall and we can get at least two to three months’ worth of positive data, it will show up in the future existing home sales report.
Newlistings are hitting the market Last year was an environment with 5% to 10% more sellers each week than a year prior. This week, the newlistings stat has grown with slightly more sellers. But weekly newlistings volume is low compared to January 2024, which is a sign of market stagnation.
I wish newlistings were growing faster, but I will call it a victory nonetheless. I wish newlistings were growing faster, but I will call it a victory nonetheless. We saw a slight decline in newlistings data week to week.
2022 is slated to be? Studying listing information for the current year and comparing with past years?—?list?prices,?new newlistings, sold listings, days on market, off-market listings?—?will So, keep reading the 2022 market predictions, sure. their predictions.?Home Home prices?are are expected to?rise?
Even with all the drama we have dealt with in 2022-2023, the housing market stayed intact and never broke. While inventory levels are still too low for my taste, it’s good that we are not at 2022 levels when we only had 240,194 total active single-family listings for Americans to buy. Weekly inventory change : (Dec.15-22)
As we can see in the chart below, the 10-year yield and mortgage rates have made a massive move higher since 2022. However, whenever the 10-year yield falls with duration, as we saw toward the end of 2022 and into 2023, it sends mortgage rates lower, and we can grow sales from these record-low levels.
Mortgage spreads The spread between the 30-year mortgage rate and the 10-year yield has been an issue since 2022, and in 2023, things got worse after the March 2023 banking crisis. However, we always keep track of this data line because if rates fall like they did late in 2022 and 2023, we need to keep track of the weekly data.
The seasonal housing inventory bottom evaded us again last week as active listings fell and newlisting inventory decreased. Here’s a quick rundown of the last week: Active inventory fell 5,383 last week, and newlisting data is still trending at all-time lows in 2023.
While I didn’t get my minimum target of 80,000 newlistings during this year’s peak seasonal weeks, I am pleased we saw growth. I did get a bit excited two weeks ago with the pick-up of newlistings as mortgage rates fell, but we didn’t get as good a follow-through this week. Weekly inventory change (Aug.
The last four weeks of newlistings data have been the most volatile since mortgage rates breached 6% in 2022. One week, we had the biggest decline in newlistings data all year, which might indicate Americans are giving up on listing their homes. What’s going on with housing inventory ?
At least, that’s what the data seems to suggest as inventory grows and newlistings decline at a less aggressive rate than last year. Newlistings decline isn’t as steep as a year ago There were only 53,000 newlistings (single-family homes) unsold this week, plus 10,000 more newlistings that are already in contract.
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