Housing Wire

DECEMBER 28, 2024

The most positive development in the housing market over 2024 has been the increase in active housing inventory , which is approaching the levels seen in 2019. Although those 2019 levels represent a five-decade low before COVID-19, the market was still functioning better than it did from 2020 to 2023. Weekly inventory change (Dec.

Inventory 514

Inventory Housing Market Marketing New Listings 514

Housing Wire

NOVEMBER 25, 2023

Lower mortgage rates tend to take housing supply off the market and demand has been picking up lately as rates have fallen. However, the recent drop in housing inventory has more to do with seasonality factors than lower mortgage rates. Mortgage rates and the 10-year yield The 10-year yield ended the week roughly flat.

Inventory 537

Inventory Mortgage New Listings Buyers 537

Housing Wire

OCTOBER 28, 2023

31, 2022, that mortgage rates would hit 8% in 2023, you would reasonably assume housing inventory would sky rocket higher, home prices would fall noticeably, and the number of price cuts would be higher year over year. Last year, the seasonal peak for inventory was Oct. Weekly inventory change (Oct.

Inventory 516

Inventory Mortgage New Listings Marketing 516

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. I have a simple model with mortgage rates being above 7.25%: weekly inventory data should grow between 11,000-17,000 per week. We have now seen it for two weeks as inventory grew by 13,247.

Inventory 514

Inventory Housing Market Marketing New Listings 514

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. So far, higher mortgage rates haven’t changed the data yet.

Inventory 541

Inventory Mortgage New Listings Sellers 541

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%

Inventory 514

Inventory New Listings Mortgage Finance 514

Housing Wire

JANUARY 28, 2024

But, even with mortgage rates higher this year than last year, demand is rising. Once I make some holiday adjustments, we have eight weeks of a positive trend since mortgage rates fell from the 8% high , and as of now, the slightly higher rates we’ve seen recently haven’t impacted the data just yet. This is common in January.

Inventory 525

Inventory New Listings Mortgage Marketing 525

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.

Inventory 526

Inventory New Listings Contracts Mortgage 526

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.

Inventory 511

Inventory New Listings Retail Mortgage 511

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.

Inventory 516

Inventory Sellers New Listings Real Estate 516

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. Weekly inventory change (Oct.

Inventory 523

Inventory Sellers New Listings Mortgage 523

Housing Wire

DECEMBER 30, 2024

Despite rising mortgage rates through much of 2024, recent indications show growing boldness among homebuyers heading into the new year. is the highest level for the PHSI since February 2023, according to NAR. These increases are persisting despite mortgage rates near 7%. compared to November 2023. year over year.

Inventory 435

Inventory Buyers Housing Market Mortgage 435

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.

Inventory 521

Inventory New Listings Retail Mortgage 521

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.

Inventory 534

Inventory New Listings Contracts Sellers 534

Housing Wire

NOVEMBER 23, 2024

It has been almost two months since mortgage rates spiked again, and my initial thought was this would tank housing demand. We had a positive 18-week period with purchase applications before mortgage rates started rising in September. Initially, the data showed more robust performance as mortgage rates approached 6%.

Mortgage 514

Mortgage Inventory New Listings Contracts 514

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.

Inventory 493

Inventory New Listings Mortgage Housing Market 493

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%

Inventory 534

Inventory New Listings Retail Mortgage 534

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.

Inventory 468

Inventory Valuation Housing Market Marketing 468

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.

Housing Market 538

Housing Market Marketing Inventory New Listings 538

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.

Inventory 466

Inventory Realtors Buyers Real Estate 466

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? As the economy stays surprisingly strong, mortgage rates have stayed higher for longer than anyone expected. In the last few weeks, Inventory is no longer growing compared to last year. Now there are 37.6%

Inventory 448

Inventory Contracts Housing Market New Listings 448

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 493

Inventory Contracts New Listings Sellers 493

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 482

Inventory Housing Market New Listings Contracts 482

Housing Wire

MARCH 23, 2024

Mortgage rates had a chance to break to new highs this year, but the Federal Reserve took a moderate tone at the last Fed meeting. We saw the benefit of lower mortgage rates with the last two existing home sales reports, which showed growth. Then mortgage rates rose, facilitating five weeks of negative purchase application data.

Mortgage 521

Mortgage Inventory New Listings Housing Market 521

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. This meant mortgage rates were significantly higher than average. Mortgage spreads Last year, the 10-year yield hit 5% and mortgage rates got above 8%.

Mortgage 514

Mortgage New Listings Inventory Contracts 514

Housing Wire

SEPTEMBER 7, 2024

Mortgage rates have made almost a 2% move lower from the highs of 2023. Now that the jobs week data is in, the question is: can mortgage rates go even lower? Mortgage spreads Another way for mortgage rates to drop to the lowest level of the forecast or below is to improve mortgage spreads.

Mortgage 533

Mortgage Inventory New Listings Marketing 533

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. It was the second half of the year last year when mortgage rates started rising. Inventory is rising everywhere in the country.

Inventory 482

Inventory Contracts Sellers New Listings 482

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. The 30-year fixed-rate mortgage averaged 6.6% The 30-year fixed-rate mortgage averaged 6.6% 12 compared to a week earlier.

Mortgage 532

Mortgage Inventory Retail Construction 532

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. It will likely take mortgage rates to go under 6% and stay there for an extended period to get real sustained demand growth from record-low sales levels.

Mortgage 525

Mortgage Inventory New Listings Contracts 525

Housing Wire

JULY 19, 2024

In a recent segment of CNBC’s “Worldwide Exchange,“ HousingWire lead analyst Logan Mohtashami and anchor Frank Holland dive into last week’s spike in mortgage applications as well as housing permit levels. According to recent data from the Mortgage Bankers Association , mortgage applications for new homes increased by 0.7%

Inventory 468

Inventory Construction Mortgage Development 468

Housing Wire

FEBRUARY 17, 2024

Will mortgage rates break toward 8% again, making another 2024 data line that looks like a carbon copy of 2023? It’s not part of my 2024 forecast, but since the Federal Reserve likes playing with fire , let’s look at where we are with mortgage rates and their impact on weekly housing data. Serious mortgage rate talk!

Mortgage 536

Mortgage Inventory New Listings Housing Market 536

Housing Wire

JULY 24, 2024

Homebuilders are still getting squeezed by high mortgage rates. 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%

Inventory 459

Inventory Construction Realtors Marketing 459

Housing Wire

NOVEMBER 30, 2024

Despite initial concerns that tariffs would push mortgage rates up to 8% and reduce housing demand, this week has brought some encouraging news. The 10-year yield has remained stable at a crucial technical level and even reversed direction, resulting in improved mortgage rates. This is what happened in the last two years.

Mortgage 518

Mortgage Inventory New Listings Contracts 518

Housing Wire

AUGUST 4, 2024

Mortgage rates moved massively lower last week without any Federal Reserve rate cuts, primarily because the labor market is getting softer. Can mortgage rates go even lower? We don’t have that variable this year and spreads have improved earlier than I thought, which has helped mortgage pricing.

Mortgage 518

Mortgage Inventory New Listings Housing Market 518

Housing Wire

SEPTEMBER 15, 2024

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. Purchase application data First, purchase apps is the fastest way to look for positive or negative data at higher or lower mortgage rates. Weekly housing inventory data Higher rates lead to more inventory.

Mortgage 521

Mortgage Inventory New Listings Retail 521

Housing Wire

JANUARY 8, 2025

Heading into the 2025 housing market, we havent had this many homeowners with mortgage rates over 6% since 2016. of outstanding mortgages, around 8.7 million borrowers, carry a mortgage with an interest rate over 6%. Available inventory of homes for sale fell each year as more and more borrowers had this cheap financing.

Mortgage 488

Mortgage Inventory Finance Sellers 488

Housing Wire

OCTOBER 5, 2024

18 and mortgage rates and bond yields headed higher. But, we have to remember that mortgage rates had already made an almost 2% move lower since the highs of 2023 without rate cuts, as the bond market always gets ahead of the Fed. This explains the rise in mortgage rates since the Fed cut rates.

Mortgage 511

Mortgage Inventory New Listings Retail 511