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%).

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Appraisal Buzz

JULY 9, 2024

The market is trending slightly in the direction of becoming more buyer-friendly thanks to these factors. While the quantity of homes on the market still trails pre-pandemic levels, home buyers are seeing more options to choose from as inventory increases,” said Danielle Hale, Chief Economist for Realtor.com. and 48.7%, respectively.

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Housing Wire

JULY 22, 2024

will be significant enough move in rates to move the needle for buyers. This is the same gap as we’ve been at for a while — just around 40% inventory growth over 2023. New listings rise This week saw 69,000 new single family listings unsold. The price of the new listings rebounded this week to $425,000.

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Housing Wire

FEBRUARY 3, 2023

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. We might only be a few weeks into 2023, but these first weeks have been rich with informative data. Mortgage Rates In January, rates were hovering in the 6% range.

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Appraisal Buzz

AUGUST 9, 2024

According to a recent study from Redfin , the technology-powered real estate brokerage, mortgage rates fell to a daily average of 6.34% on August 5, the lowest level since April 2023. Now a lot of those buyers want to get in now, before rates get too low and cause more competition,” said Redfin Premier agent Shoshana Godwin. “One

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Housing Wire

MAY 4, 2023

On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. The number of new listings coming on the market this spring is lower than it has been in more than a decade. Sales and new pending contracts are below pre-pandemic levels.

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Housing Wire

NOVEMBER 18, 2024

We already see many signals for what to expect, including last week’s data on inventory , new listings and price reductions, which I analyze below. Mortgage rates continue to move higher and that’s impacting buyers. Last week there were 52,000 new listings for single-family homes unsold.

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Housing Wire

DECEMBER 28, 2022

After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. Heading into 2023, it seems well within reason, given current trends, that a peak-to-trough decline in home prices of 10% is possible. . There will be two key differences between 2023 and 2010. Home Prices will fall, but don’t expect 2010.

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Housing Wire

JULY 13, 2024

In 2023, following the collapse of Silicon Valley Bank , the spreads between the 30-year mortgage and 10-year yield were at their worst, leading to new cycle highs. If we took the worst levels of the spreads from 2023 and incorporated those today, mortgage rates would be 0.48% higher right now.

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Sacramento Appraisal Blog

MAY 2, 2023

Sellers have been sitting out of the housing market, and it’s made a massive difference in 2023 so far. Today I want to show what’s happening with new listings and talk about concessions. I hope this is useful, whether you’re local or not. Scroll by topic or digest slowly.

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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. Gains in new listings were observed in July (8.4%).

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Housing Wire

NOVEMBER 4, 2024

The inventory peak came a month earlier than in 2023. That’s because in the fourth quarter 2023, the market was grinding to a halt. New listings rise There were just under 61,000 new listings unsold this week. So, the new listings volume last year was low and dropping. There are 29.8%

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Housing Wire

NOVEMBER 29, 2023

In the ever-competitive real estate market, creating a consistent flow of real estate buyer leads is strategy for success. But beyond first-timers, we’ll show you how to attract real estate buyers of all kinds through a multi-tiered marketing approach that boosts both your visibility and credibility with potential buyers.

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Housing Wire

MAY 22, 2024

As you can see below, even though home prices rose in 2023, the median sales price showed negative year-over-year growth in April, May and June of last year. As you can see above, starting in September of 2023, we saw steady year-over-year price growth increases in the data, making the year-over-year price comps harder this year.

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Housing Wire

NOVEMBER 11, 2024

Inventory, new listings, sales, and prices all dipped this week. The election took up a lot of peoples’ lives last week, and that obviously delayed some listing and sales activity, plus we’ve had spiking mortgage rates. This has been true all year long, starting in the fourth quarter of 2023.

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Housing Wire

JULY 29, 2024

Our Immediate sales measure of homes that get listed, take offers and go into contract in a few days is also notably lower than last year. On the supply side, new listings are slightly more than a year ago, but pulling back. If fact the “coming soon” pre-listings are now running behind last year by 5%.

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Housing Wire

AUGUST 24, 2024

Since the buyer’s commission payout isn’t as transparent as before, I have been anticipating delays in the home-buying process as people adapted to the new rules. 2024 is the second-lowest new listing year recorded in history, but we still saw growth from last year, which is a positive. Weekly inventory change (Aug.

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Housing Wire

JUNE 15, 2024

Mortgage spreads The spread between the 30-year mortgage rate and the 10-year yield has been an issue since 2022 and things got worse after the March 2023 banking crisis. If we took the worst levels of the spreads from 2023 and incorporated those today, mortgage rates would be 0.52% higher.

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Appraisal Buzz

OCTOBER 3, 2024

September 2024: National Housing Metrics Median listing price : (Change over September 2023: -1.0% 2019: +36.0 %) Active listings : (+34.0 %) (-23.2 %) New listings : (+11.6 %) (-11.8 %) Median days on market : (+7 days to 55 days) ( -7 days) Share of active listings with price reductions : (+0.5

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Appraisal Buzz

SEPTEMBER 13, 2024

With buyer demand notably slow this year, the inventory of unsold homes is expected to continue its climb through the end of Q3, and possibly into Q4, according to a recent study from Altos Research. New listings have also shown signs of tapering off, with just under 71,000 new unsold listings reported in early July.

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Housing Wire

AUGUST 4, 2024

Mortgage spreads Mortgage spreads were a negative storyline in 2023 as the Silicon Valley Bank collapse and the resulting banking crisis pushed the spreads to new cycle highs. If we took the worst levels of the spreads from 2023 and incorporated those today, mortgage rates would be 0.49% higher right now.

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Housing Wire

SEPTEMBER 28, 2024

2024: 362,620 2023: 340,526 2022: 380,823 Purchase application data Even as mortgage rates ticked up just a smidge this week, the winning streak of consecutive positive purchase apps continues with five weeks of gains. Mortgage spreads The mortgage spread story has been positive in 2024, whereas it was negative in 2023.

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Mortgage Inventory New Listings Contracts 524

Housing Wire

JULY 31, 2024

The brokerage claimed on its second-quarter 2024 earnings call that it’s experiencing virtually no changes in commissions despite the $418 million settlement agreed to by the National Association of Realtors (NAR) following a string of lawsuits related to buyer commission rules. “It 17 saying anything around this,” Reffkin said.

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Housing Wire

MARCH 11, 2024

New listings To watch whether supply and demand might get out of balance with higher mortgage rates, keep an eye on the new listings volume this spring, not just the total inventory. There were 59,000 new listings unsold this week. That’s 15% growth over the pace of 2023. Last week, 30.5%

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Housing Wire

APRIL 27, 2024

Active weekly housing inventory growth slowed slightly last week, but it’s still running at a healthier clip than in 2023. Weekly housing inventory data We’ve now had back-to-back weeks of healthy housing inventory growth and spring 2024 is much healthier than spring 2023. Last year, we never hit that target. 2022: 19.2%

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Housing Wire

JANUARY 22, 2024

Those metrics, specifically the pace of new listings and new sales contracts, slowed this week. Our immediate sales metric of homes that get offers within a couple days of listing also slowed. New listings and new contracts both still show a bit of improvement over 2023, but the growth rates have slid back down.

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Housing Wire

SEPTEMBER 15, 2024

If we took the worst levels of the spreads from 2023 and incorporated those today, mortgage rates would be 0.58% higher right now. Since most sellers are buyers, this data must return to normal before seeing real, long-lasting sales growth. Outside of that, you need weaker economic or labor data. Weekly inventory change (Sept.

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Housing Wire

SEPTEMBER 25, 2024

It now looks like we’ll end the year with about 27% more unsold inventory than the end of 2023. 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.

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Inventory New Listings Sellers Contracts 462

Housing Wire

AUGUST 6, 2024

Last year at this time, mortgage rates were rising, eventually peaking at 8% in October 2023. Still, this affordability boost is good for any buyers in the market now. We should be able to measure how demand changes over the next few weeks if rates stay at these new lower levels. All year people were expecting rates to decline.

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Housing Wire

OCTOBER 21, 2024

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. Last year in the fourth quarter, buyers were running for the exits.

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Sellers Inventory New Listings Contracts 468

Housing Wire

NOVEMBER 25, 2023

Instead, let’s look at the future: If the 10-year yield can break under 4.34% with some kick from bond buyers, we have an excellent shot at getting under 7%. Most home sellers are buyers, and we want the new listings data to show growth year over year since it appears that we have formed a bottom in 2023.

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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.

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Inventory New Listings Contracts Buyers 449

Housing Wire

DECEMBER 9, 2023

This happened even with higher home prices and higher mortgage rates in 2023. Naturally, some people thought home prices would crash in 2023 as many market players said prices always follow volume. What happened between June 2022 to June 2023 can be confusing, so if you need more clarity I suggest listening to this podcast.

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Mortgage Inventory New Listings Sellers 534

Appraisal Buzz

JUNE 18, 2024

month-over-month in May – the smallest increase on a seasonally adjusted basis since January 2023, according to Redfin. New listings have been inching upward, which has taken a little pressure off of sale prices because buyers have more options to choose from. New listings increased 0.3%

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Housing Wire

FEBRUARY 26, 2024

The average cost of a policy increased 40% in 2023 alone, according to a report by Redfin. On the demand side, buyers are wary of purchasing a condo since it has become less affordable. In Jacksonville, the median condo price declined roughly 7% year over year in January, sales declined 27% and new listings increased 32%.

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Housing Wire

SEPTEMBER 22, 2024

Mortgage spreads The mortgage spread story has been positive in 2024, whereas it was negative in 2023. If we took the worst spreads from 2023 and incorporated those today, mortgage rates would be 0.68% higher. Since most sellers are buyers, this data must return to normal before seeing real, long-lasting sales growth.

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Mortgage Inventory New Listings Contracts 524

Housing Wire

APRIL 5, 2024

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. Millennials comprised 75% of this demographic, with older millennials and Generation X (ages 44 to 58) accounting for 44% and 24% of first-time buyers.

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