Housing Wire

JULY 20, 2024

We finally have six weeks of numbers that hit my housing inventory growth model perfectly in 2024. Last year, with higher mortgage rates , we had zero weeks at this level so I am now giving 2024 inventory growth a grade of A. have higher inventory than the national data. I recently spoke about this in an interview on CNBC.

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Housing Wire

APRIL 20, 2024

Housing inventory finally hit my target level of growth last week with mortgage rates now over 7.25% , something I couldn’t get all last year. Weekly housing inventory data Higher mortgage rates with duration will likely lead to higher inventory, which we have seen repeatedly for the past 10 years. 2022: 18.7%

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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.

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Housing Wire

FEBRUARY 4, 2024

How will mortgage rates impact seasonal inventory in 2024? In the last four years, we have had abnormal seasonal inventory data, meaning that the spring inventory bottom happens later in the year. This is due to demand rising late in one year, pushing through the early part of the next year and preventing inventory growth.

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Housing Wire

MAY 25, 2024

The mortgage rate lockdown premise holds that very few people will list their homes when mortgage rates are this high, thus suppressing inventory. 2024 has had healthy inventory growth despite mortgage rates above 7%. Each time, inventory has squared right into the model as long as rates stay elevated.

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Housing Wire

DECEMBER 19, 2024

Altos Research data of inventory by state reflects this trend. High mortgage rates have prompted homeowners with rates in the 3% to 4% range to stay put, stifling inventory and home sales across the nation. Comparing current levels of housing inventory to those of 2019 reveals that listings are down in almost every state.

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Inventory Valuation Housing Market Marketing 462

Housing Wire

FEBRUARY 10, 2024

So far in 2024, fewer homes are taking price cuts than in 2023, and this trend is on the verge of breaking below the 2023 lows in price cuts percentages. While weekly inventory is still falling, we have year-over-year growth in total active listing and new listings data.

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Housing Wire

MAY 28, 2024

It’s the end of May and unsold inventory on the market is increasing across the U.S. Every state in the country has more homes on the market now than a year ago and, in many places, new construction is being completed and added to inventory, so it’s not just resale inventory that’s growing. Higher rates create more inventory.

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Housing Wire

NOVEMBER 25, 2023

However, the recent drop in housing inventory has more to do with seasonality factors than lower mortgage rates. Higher mortgage rates did push inventory higher during the seasonal period when it would normally be declining. The question now is what will inventory look like in the spring if mortgage rates keep falling?

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Inventory Mortgage New Listings Buyers 524

Housing Wire

OCTOBER 26, 2024

Since mid-2022 when mortgage rates headed higher , two facts have been apparent: new listings data has been trending at the lowest levels ever recorded in history and inventory has been able to grow from record low levels thanks to mortgage rates staying elevated. As you can see, we have made progress in inventory growth year after year.

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Housing Wire

OCTOBER 13, 2024

Housing inventory, which saw an excellent pickup a few weeks ago, has been slowing down and last week we saw a slight decline. Has seasonality finally kicked in or did back-to-back hurricanes slow things enough to influence inventory data? Since then, inventory growth has been slowing down and even declined last week.

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Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. However, at the current trend, we will break below the lows in the price cut percentage data that we saw in 2023 in the spring of this year. 12-19) : Inventory rose from 505,223 to 506,414 Same week last year (Jan.

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Inventory Mortgage New Listings Sellers 537

Housing Wire

JANUARY 13, 2024

Last week, housing inventory grew and the number of price cuts fell, which is expected at this time of the year. I hope the next thing we see is housing inventory grow at the level it typically does in January or February instead of being delayed until March or April. So let’s hope for more home sellers in 2024. 2022 21.7%

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Housing Wire

DECEMBER 23, 2023

Even with all the drama we have dealt with in 2022-2023, the housing market stayed intact and never broke. Weekly housing inventory data We are near the end of the year, which means the seasonal decline in housing inventory will take hold until we find the seasonal bottom in inventory in 2024.

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Housing Wire

DECEMBER 30, 2024

is the highest level for the PHSI since February 2023, according to NAR. “Despite higher mortgage rates in November and persistent affordability challengers, buyers took advantage of more inventory as pending home sales reached the highest level in nearly two years. compared to November 2023. month over month and 6.9%

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Housing Wire

JULY 8, 2024

There have been a few markets; however, that have defied the national trends where inventory has stayed tighter and demand keeps rolling in. Available inventory of unsold homes in the U.S. After June 2023, mortgage rates climbed from the 6s into the 7s on the way to 8% by October. Inventory is rising everywhere in the country.

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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.

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Inventory Contracts New Listings Sellers 469

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%

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Inventory Housing Market New Listings Contracts 448

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%

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Housing Wire

APRIL 6, 2024

Weekly housing inventory data — both active inventory and new listings — are prone to one-week moves that deviate from a trend, especially if people are going Easter egg hunting. So, the fact that active inventory and new listings data fell last week isn’t a big deal. However, for now, this is a plus for the U.S. 2022: 17.6%

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Appraisal Buzz

AUGUST 8, 2024

The Single-Family Rental (SFR) inventory and days-on-market continue to climb gradually, according to HouseCanary, Inc. ‘s As a result, and in line with earlier data, the steady increase in days-on-market and inventory levels, along with the continued demand for rentals as an alternative to house ownership, led to a minor 2.3%

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Housing Wire

DECEMBER 16, 2024

As the year draws to a close, available unsold inventory of homes on the market is nearly 27% greater than a year ago. Almost every market in the country has more homes available now than at the end of 2023. Ten states have more inventory unsold than in 2019, which was the last sort of normal year before the pandemic.

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Inventory Housing Market Marketing Sellers 408

Housing Wire

JULY 19, 2024

They say everything is bigger in Texas — and apparently that includes housing inventory growth. months in Q2 2023 to 4.6 Sales were down 3% compared to Q2 2023, falling to 93,417. Houston inventory was up 42.5% While available homes for sale are growing all over the country , it’s happening at a dramatic scale in Texas.

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Inventory Realtors Housing Market Buyers 448

Housing Wire

JANUARY 2, 2024

Inventory is slowly but steadily increasing over last year, which means slightly more options for buyers this spring. Inventory ends higher The year finished with 513,000 single-family homes on the market. The defining characteristic of 2023 was how few sellers we had. The last week of data for the year U.S. Each line is a year.

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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.

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Housing Wire

JULY 29, 2024

in June compared to a year ago, indicating that rising inventory still needs further saturation before making a meaningful dent in affordability. While inventory nationally and in most markets is higher than one year ago, it remains low from a historical perspective,” First American chief economist Mark Fleming said in a statement.

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Inventory Marketing Buyers Housing Market 446

Housing Wire

OCTOBER 23, 2024

And while the slower sales pace may not be great news for real estate professionals, it has resulted in an uptick in inventory , which is good news for homebuyers. For-sale inventory at the end of September was 1.39 month supply of unsold inventory, up from 4.2 months in September 2023. from September 2023.

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Inventory Realtors Buyers Real Estate 367

Housing Wire

JULY 24, 2024

The drop in sales is causing a rapid rise in unsold inventory. The median price stayed flat in June, registering at $417,300, a $300 drop from June 2023 and a 2.5% The median price stayed flat in June, registering at $417,300, a $300 drop from June 2023 and a 2.5% Though new home inventory in June remained elevated at a 9.3-month

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Housing Wire

JANUARY 25, 2024

economy because single-family permits grew in 2023. In 2023, residential constructions workers weren’t laid off like in previous economic cycles. So why were so many people so bearish on seeing a recession going into 2023 and staying there the entire time? I cover the topic in this HousingWire Daily episode.

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Appraisal Buzz

JUNE 18, 2024

million units in 2023, according to a new analysis from the real estate firm Zillow. million homes were completed in 2023. The post A Closer Look at the Housing Market’s Inventory Deficits first appeared on The MortgagePoint. The post A Closer Look at the Housing Market’s Inventory Deficits appeared first on Appraisal Buzz.

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Housing Wire

JULY 19, 2024

Inventory has also grown in recent years, with single-family housing supply at 650,000 units last week, according to Altos Research data. We’re ready for lower rates if it happens, where we weren’t ready for lower rates in 2022 and 2023.”

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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. Looking forward, the real estate market is likely to remain challenging for sellers as inventory grows and buyer demand stays muted.

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Housing Wire

MARCH 12, 2024

Despite elevated interest rates and tight inventory, the national Hispanic homeownership rate reached 49.5% in 2023, with a net gain of 377,000 Hispanic owner households from the previous year. In 2023 alone, Latinos saw a net gain of 450,000 new households and were responsible for 25.5% In total, more than 9.5 of overall U.S.

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Housing Wire

SEPTEMBER 5, 2024

It was the 10th straight month of annualized growth and for-sale inventory is now at its highest level since May 2020. Notably, even as more sellers are entering the market compared to a year ago, for-sale inventory remains markedly below pre-pandemic levels. The median monthly mortgage payment during the four-week period ending Sept.

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Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. However, as purchase demand continues to thaw, it will put more pressure on already depleted inventory for sale,” said Sam Khater, Freddie Mac’s chief economist.

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Housing Wire

DECEMBER 30, 2024

Inventory continues to contract There are now 651,000 single-family homes unsold on the market across the U.S. Well see another week of inventory contraction this week with New Years mid-week. Some years, when demand is stronger, the available inventory of unsold homes keeps shrinking until February or March.

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Housing Market Marketing New Listings Inventory 543

Housing Wire

MARCH 23, 2024

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. Purchase application data Purchase application data really moves on mortgage rates — something we saw in late 2022 and into 2023.

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