Appraisal Buzz

AUGUST 30, 2024

A forward-looking measure of home sales based on contract signings, the Pending Home Sales Index (PHSI) fell to 70.2 The level of contract activity in 2001 is represented by an index of 100. “A from July 2023 to 64.6, from July 2023 to 56.2. “In in July, the lowest level since the index’s inception in 2001. July saw a 3.8%

Contracts 312

Contracts Realtors Inventory Buyers 312

Housing Wire

JUNE 18, 2024

By now everyone knows that unsold inventory of homes on the market is climbing. But is that unsold inventory surging? Inventory is up this week There are now 621,000 single-family homes unsold on the market around the U.S. In the last few weeks, Inventory is no longer growing compared to last year. Now there are 37.6%

Inventory 433

Inventory Contracts Housing Market New Listings 433

Housing Wire

APRIL 8, 2024

With the Easter holiday last week, data for housing inventory , new listings and the pace of new contracts started all took a breather from their growth pace. Here’s how 2024 is shaping up: There are now more listings, more active inventory and more sales than a year ago. Inventory will climb again with this week’s data.

Inventory 484

Inventory Contracts New Listings Sellers 484

Housing Wire

OCTOBER 16, 2023

Available inventory of unsold homes rose by 1.8% The leading indicators for sales prices show that 2023 will end with home price gains of 1-2% over 2022, but the 2024 outlook is weakening and depends on your view of mortgage rates in Q1 and whether home prices will appreciate next year. Will we see inventory growth YoY by November?

Inventory 478

Inventory Contracts Sellers New Listings 478

Housing Wire

JANUARY 16, 2024

The longer we stay with mortgage rates higher, the more inventory will build closer to where it used to be. Higher mortgage rates means more inventory. If mortgage rates fall into the 5s this spring, you should expect the available inventory to decline as demand picks up rapidly. Inventory ticked up this week.

Inventory 469

Inventory New Listings Sellers Contracts 469

Housing Wire

MARCH 11, 2024

Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The only way inventory would grow in 2024 is if mortgage rates climbed. That’s 15% growth over the pace of 2023.

Inventory 516

Inventory New Listings Sellers Real Estate 516

Housing Wire

JANUARY 2, 2024

Inventory is slowly but steadily increasing over last year, which means slightly more options for buyers this spring. We have more homes going into contract each week now than we did a year ago — supply and demand are climbing together. Inventory ends higher The year finished with 513,000 single-family homes on the market.

Housing Market 531

Housing Market Marketing Inventory Contracts 531

Housing Wire

JUNE 21, 2024

Both existing housing inventory and home prices have been rising together year over year, which might seem odd at first glance since existing home sales are trending near all-time lows. When you connect the dots, this is a short and simple answer to why housing inventory and home prices are both rising. Sales descended 2.8%

Inventory 466

Inventory Housing Market New Listings Contracts 466

Housing Wire

APRIL 15, 2024

Higher mortgage rates have forced available inventory to climb all year. Housing inventory There are now 526,000 single-family homes active unsold on the market. jump in unsold inventory in a week is very notable. As mortgage rates rise, inventory rises. Or, to put it another way: demand slows, inventory grows.

Inventory 431

Inventory Mortgage New Listings Sellers 431

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. Pending sales have remained relatively flat, with around 67,000 new contracts being initiated as of July.

Inventory 397

Inventory Real Estate Marketing New Listings 397

Housing Wire

AUGUST 19, 2024

Unsold inventory of homes for sale has been on the rise all year. It hasn’t turned the corner yet — inventory rose across the country this week — but at less than 1% rate. There are some signs that inventory growth is slowing with newly lower mortgage rates and the end of the summer. Texas inventory grew by 1.5%

Inventory 345

Inventory New Listings Sellers Buyers 345

Housing Wire

AUGUST 29, 2024

Unsold inventory of homes on the market has been climbing in the U.S. In general, inventory rises with rates because more expensive money slows demand. When demand slows, inventory grows. Inventory is climbing but it’s still pretty restricted. And importantly, inventory isn’t growing everywhere equally.

Inventory 482

Inventory Real Estate Housing Market Construction 482

Housing Wire

JUNE 24, 2024

Inventory grew by almost 14,000 homes this week. Available inventory of unsold homes continues to grow but that growth in seems a bit less intense than it could be. He expects the second half of the year to see even more inventory growth. Inventory increases by 2.2% Sellers can just wait it out, and it looks like the U.S.

Inventory 390

Inventory Sellers New Listings Property Taxes 390

Housing Wire

MARCH 18, 2024

real estate market were for inventory growth, sales growth and home-price growth across the U.S. Of my initial expectations this year — rising inventory, rising sales rates, rising prices — only rising inventory remains clear at this moment as we finish Q1 with rising interest rates. As we started 2024, the signals in the U.S.

Inventory 441

Inventory New Listings Sellers Contracts 441

Housing Wire

NOVEMBER 20, 2023

Last week, I asserted that housing inventory growth had finished for the year. This week, the available inventory of unsold single-family homes crept up minimally. Housing inventory inches up There were 570,000 single-family homes on the market, or 0.5% Turns out I was wrong! After all, more sellers means more sales in 2024.

Inventory 450

Inventory New Listings Housing Market Sellers 450

Housing Wire

SEPTEMBER 26, 2023

Available inventory of homes for sale is on the rise in late September, which is very unusual for this time of year. In fact, inventory is growing faster than this time a year ago. What’s happening with inventory? Normally by this point in September, available inventory is declining slightly each week.

Inventory 504

Inventory Contracts New Listings Mortgage 504

Housing Wire

OCTOBER 19, 2024

We have had three weeks of positive year-over-year growth in both purchase application data and weekly pending contract data, with last week showing a noticeable jump from last year. Weekly pending sales Below is the Altos Research weekly pending contract data to show real-time demand. Weekly inventory change (Oct 11-Oct.

Inventory 480

Inventory New Listings Mortgage Contracts 480

Housing Wire

JANUARY 20, 2023

On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. million in January down to about 4 million in December, We now have total inventory levels near all-time lows again. In one of the most historical years in the U.S.

Inventory 540

Inventory Housing Market New Listings Marketing 540

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. Housing inventory There are now 722,000 unsold single-family homes on the market around the U.S. Below is the 10-year view of inventory trends in the U.S.

Housing Market 421

Housing Market New Listings Marketing Inventory 421

Housing Wire

SEPTEMBER 28, 2024

Housing demand is very seasonal, so the fact that our pending contract data is firming up lately just shows that lower mortgage rates have stabilized and firmed up demand recently. Weekly pending sales Below is the Altos Research weekly pending contract data to show real-time demand. Weekly inventory change (Sept.

Mortgage 511

Mortgage Inventory New Listings Contracts 511

Housing Wire

AUGUST 21, 2023

Buyers in this real estate market notice these affordability changes, and so we can see in the data fewer home purchase offers, slightly climbing unsold inventory, and slightly more price reductions for the homes that are on the market. Rising rates make more inventory. So how much inventory will we add this fall?

Inventory 370

Inventory Contracts Buyers Sellers 370

Housing Wire

AUGUST 7, 2023

As a result, the available inventory of homes for sale is slightly higher each week. With fewer transactions, inventory is building just a bit as we approach the end of the summer. When will inventory peak for the year? Inventory Inventory is still climbing just a bit each week as we approach the end of the season.

Inventory 307

Inventory New Listings Contracts Sellers 307

Appraisal Buzz

JUNE 28, 2024

compared with May 2023, as higher mortgage rates continued to keep homebuyers on the sidelines, according to the National Association of Realtors (NAR). Regionally, and month over month, contract signings declined in the Midwest and South but increased in the Northeast and West. million 2023 – and to 4.92 million in 2025.

Inventory 195

Inventory Contracts Realtors Mortgage 195

Housing Wire

MARCH 22, 2024

Unlike many other metropolitan areas across the country , the housing market in Southwest Florida is comparably flush with for-sale inventory. “I We are seeing a healthy increase in inventory, which we really needed.” Smith attributes the uptick in inventory to a bump in new listings. From 2022 to 2023 alone, rates rose 15%.

Insurance 420

Insurance Inventory Marketing Real Estate 420

Housing Wire

NOVEMBER 11, 2024

Inventory, new listings, sales, and prices all dipped this week. Given the confluence of trends right now, I do expect inventory and new listings to rebound again before the end of the month. Inventory growing Rising interest rates create rising inventory. to 8% and inventory spiked.

Housing Market 372

Housing Market Marketing Inventory New Listings 372

Housing Wire

MARCH 26, 2023

These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. Active inventory fell 1,109, and new listing data made a lovely comeback week to week but was still noticeably down year over year. In a regular market, they would be closer to 5.25%. million.

Inventory 474

Inventory Housing Market Marketing Mortgage 474

Housing Wire

JULY 6, 2024

Now that we are halfway through the year, we can see that active inventory in America is growing, unlike what happened in 2023. We are currently up to 652,573 single-family homes, and while that isn’t close to average active inventory levels, it’s a much better place today than in 2022.

Housing Market 473

Housing Market Mortgage Inventory Marketing 473

Housing Wire

NOVEMBER 2, 2024

Home prices have remained firm over the last two months, even with higher mortgage rates and inventory data. This podcast video is a tutorial on how to track this and why the 2023 housing price-crash people got it wrong because they have no working models. You can have rising inventory, increasing sales and rising prices.

Inventory 505

Inventory New Listings Mortgage Contracts 505

Housing Wire

OCTOBER 21, 2024

Despite the Florida hurricanes, and in the face of recently rising mortgage rates , unsold inventory of homes on the market climbed this week by about 1%. We’ve been expecting inventory to climb, and to tick up again next week before seasonal inventory declines start in November. Last year, inventory rose by 1.5%

Sellers 438

Sellers Inventory New Listings Contracts 438

Housing Wire

MAY 4, 2023

On the other hand, inventory is still low, and homes are still selling fast, often with multiple offers. Sales and new pending contracts are below pre-pandemic levels. What can we expect in 2023? At the same time, there are some key trends I think will characterize the housing market in 2023. Buyer disappointment.

Housing Market 437

Housing Market Marketing Inventory Buyers 437

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.

Mortgage 509

Mortgage New Listings Inventory Contracts 509

Appraisal Buzz

OCTOBER 30, 2024

increase in the Pending Home Sales Index (PHSI), a measure of future home sales based on contract signings, to 75.8, The amount of contract activity in 2001 is represented by an index of 100. Year-over-year, contract signings grew in the Northeast and West and were unchanged in the Midwest and South. compared to September 2023.

Contracts 418

Contracts Buyers Inventory Mortgage 418

Appraisal Buzz

JULY 31, 2024

The rise in housing inventory is beginning to lead to more contract signings,” said Lawrence Yun, NAR Chief Economist. A measure of prospective home sales based on contract signings, the Pending Home Sales Index (PHSI) increased to 74.3 The level of contract activity in 2001 is represented by an index of 100.

Contracts 397

Contracts Inventory Buyers Housing Market 397

Housing Wire

JUNE 3, 2024

These are the homes that go into contract immediately after listing. Inventory continues to build There are now 605,000 single-family homes on the market. Inventory continues to build each week as mortgage rates stay over 7%. Inventory rose by 1.7% Higher interest rates that lead to greater inventory.

Inventory 504

Inventory Contracts New Listings Sellers 504

Housing Wire

OCTOBER 28, 2024

We track inventory and home sales very closely, so the biggest surprise this year has been the resiliency of home prices. The median price of the homes that went into contract this week — these are the new purchase offers with contracts pending — is now 6% greater than last year. They have not. Home prices ticked up this week.

Inventory 438

Inventory New Listings Sellers Contracts 438

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.

Mortgage 491

Mortgage Inventory Marketing New Listings 491

Housing Wire

DECEMBER 16, 2022

After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. The last year has been a completely split housing market — one that started with the lowest inventory NAR has recorded dating back to 1999 and one with low mortgage rates. One projection for 2023 is an easier buying market for first-time buyers.

Buyers 495

Buyers Realtors Inventory Sellers 495