Housing Wire

DECEMBER 30, 2023

Going into 2023, people thought housing inventory would skyrocket, home prices would crash, and we would see the housing market of 2008 all over again. Looking back on 2023, the inventory story was a big surprise even as mortgage rates headed toward 8%, as the data below will show. 9, 2022, and they’ll be ready for what’s coming next.

Inventory 513

Inventory New Listings Housing Market Mortgage 513

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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Sellers Buyers New Listings Mortgage 435

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. However, one thing is sure: from 2020 to 2023 we never saw credit-stressed home sellers. We never saw the Airbnb crash that dominated some of the housing headlines in 2023. Weekly inventory change : (Dec.15-22)

Housing Market 531

Housing Market Marketing Inventory New Listings 531

Housing Wire

JUNE 24, 2024

Sellers can just wait it out, and it looks like the U.S. I think it’s worth examining if sellers will indeed just wait it out now. New listings unchanged You can see the continuation of that theme with the new listings volume each week. There were 72,000 new single-family listings unsold this week.

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Inventory Sellers New Listings Property Taxes 390

Housing Wire

FEBRUARY 26, 2024

We still see more sellers than last year. Each week, there are more new listings than a year ago, allowing inventory to build and eventually leading to more home sales this year than last. Last week showed good growth in sales over 2023, and I mentioned that it might be fleeting. But that sales growth rate is fragile too.

Sellers 454

Sellers Inventory New Listings Contracts 454

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. New listings One way reason it will be hard for inventory to grow more than 17% next year is that there are still not enough sellers to get there. price cut.

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Housing Market New Listings Marketing Inventory 421

Housing Wire

OCTOBER 11, 2022

There’s a showdown at the housing market corral between homebuyers and sellers. Home prices ebb and flow, pricing was working in the sense that sellers met homebuyers to a degree. To have a balanced housing market, we need active listings to rise yearly, which they typically do; 2020 was an anomaly.

Sellers 514

Sellers Inventory Housing Market New Listings 514

Appraisal Buzz

SEPTEMBER 5, 2024

Simultaneously, home sellers reduced the number of newly listed properties on the market, with a -0.9% In April we noted that rising for-sale inventory was likely to lead to more balance between buyers and sellers. more homes listed for sale than there were at the same time in 2023. year-over-year increase.

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Sellers Housing Market Buyers Marketing 397

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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Housing Market Sellers Buyers Marketing 279

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 Market Marketing Inventory New Listings 372

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. The median price of new listings is currently $379,900.

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Housing Market Marketing Inventory New Listings 361

Housing Wire

MAY 4, 2023

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. What can we expect in 2023? At the same time, there are some key trends I think will characterize the housing market in 2023. Selective sellers.

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Housing Market Marketing Inventory Buyers 437

Inman

FEBRUARY 5, 2024

percent decline in net new listings and a 2 percent decrease in contract signings, driven by mortgage rate fluctuations, according to HouseCanary. Despite a rise in total inventory compared to 2022 and 2023, the market is still behind historical inventory averages as sellers avoid entering a higher rate environment.

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New Listings Contracts Inventory Real Estate 167

Housing Wire

JANUARY 5, 2023

So where does all that drama leave us for 2023? My 2023 price forecast: As long as rates stay above 5.875% , my affordability index will see the pressure on home prices continue. For 2023, assuming rates stay above 5.875%, we should see a 5.9%-7.4% million in 2023. Buckle up as we look at each factor individually.

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Housing Market Marketing Inventory New Listings 539

Housing Wire

JULY 1, 2024

Inventory , new listings, etc. New listings volume peaked a few weeks ago. While there won’t be a big drop off for new listings in July, we can assume we’ll have fewer sellers each week through the rest of the year. There won’t be a big drop-off in new listings volume in July.

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Real Estate New Listings Inventory Marketing 394

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 Market Marketing Inventory New Listings 384

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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Mortgage New Listings Inventory Contracts 509

Housing Wire

MAY 15, 2024

After an initial rush to get to market in Q2 2022, new listings volume fell precipitously. In July 2022, new listings volume per week dropped from 90,000 at the end of June to approximately 74,000 just after the July 4th holiday. That’s a swing of 17% fewer sellers in just a matter of days.

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Mortgage New Listings Inventory Sellers 426

Housing Wire

MARCH 11, 2024

The suspicion was that there were a bunch of sellers who were waiting to sell: Once rates fell these sellers would come rushing back to this real estate market and we’d finally see inventory grow. Second, because people think of home sellers as being locked-in by high interest rates. That’s 15% growth over the pace of 2023.

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Inventory New Listings Sellers Real Estate 516

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. When you include the 9,400 immediate sales, the total is 13% more sellers than a year ago.

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Inventory New Listings Sellers Contracts 317

Housing Wire

OCTOBER 28, 2024

Florida had an uptick in inventory with a bit of a rebound in new listings now that the storms are over. New listings 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 new listings unsold this week for single-family homes.

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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.

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Mortgage Inventory Marketing New Listings 491

Appraisal Buzz

OCTOBER 3, 2024

Following the Federal Reserve ‘s 50 basis point reduction in the jumbo rate in September, mortgage rates significant fell to a 24-month low, prompting sellers to move. The Realtor.com 2024 September Housing Report states that actively listed properties increased by 34.0%, while newly listed homes increased by 11.6%

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Marketing New Listings Sellers Advertising 418

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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Inventory New Listings Housing Market Contracts 487

Housing Wire

OCTOBER 13, 2024

Remember that 2023 had the lowest new listings data ever and 2024 will have the second lowest. One of the reasons total inventory data hasn’t gotten back to 2019 levels is the lack of sellers in 2023 and 2024. Mortgage spreads The mortgage spread story has been positive in 2024, whereas it was negative in 2023.

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Inventory New Listings Retail Mortgage 481

Housing Wire

JANUARY 8, 2024

Based on the trends we can see after the start of the year, I’ll project 2024 will see about 15% home sales growth over 2023. These are very clear trends as we start the new year. 2023 started with recovery, but slowed down in Q3 as mortgage rates hit 8%. There are slightly more sellers each week. Currently 32.8%

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Real Estate Marketing Inventory New Listings 508

Housing Wire

OCTOBER 19, 2024

Now the dose of reality: last year at this time mortgage rates were heading toward 8% , and even though 2023 showed record low sales levels, it got worse with 8% rates. We are now showing growth versus 2023 and 2022 data in this data line, but context is key. So, context is critical with housing data, especially in October.

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Inventory New Listings Mortgage Contracts 480

Housing Wire

AUGUST 24, 2024

18-Aug 25): Inventory rose from 497,361 to 503,924 The all-time inventory bottom was in 2022 at 240,497 The yearly inventory peak for 2024 is this week at 704,744 For some context, active listings for this week in 2015 were 1,215,873 New listings data New listing data is experiencing its traditional seasonal decline.

Inventory 437

Inventory New Listings Sellers Mortgage 437

Housing Wire

JULY 8, 2024

After June 2023, mortgage rates climbed from the 6s into the 7s on the way to 8% by October. Massachusetts and New York, for example, are still just coming off the record tight markets of the pandemic, but that trend is changing — finally. There are more sellers than a year ago, but still not a lot of sellers.

Inventory 478

Inventory Contracts Sellers New Listings 478

Housing Wire

MARCH 6, 2024

Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates. percentage points—sellers take notice. Facing these realities, many would-be sellers decide to stay put. This is clear in the chart below, which shows the year-over-year percent change in the four-week average of new listings.

Mortgage 440

Mortgage Sellers New Listings Buyers 440

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 408

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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Mortgage Inventory New Listings Housing Market 519

Housing Wire

OCTOBER 31, 2023

At least, that’s what the data seems to suggest as inventory grows and new listings decline at a less aggressive rate than last year. New listings decline isn’t as steep as a year ago There were only 53,000 new listings (single-family homes) unsold this week, plus 10,000 more new listings that are already in contract.

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New Listings Inventory Contracts Housing Market 500

Housing Wire

MAY 20, 2024

The second dynamic to watch here is how many sellers are cutting their prices each week. But we can see that there is an upper limit to affordability for homebuyers and sellers should absolutely be aware of this before they list their homes. New listings New listings appear to have peaked for the year three weeks ago.

Inventory 448

Inventory New Listings Sellers Contracts 448

Housing Wire

APRIL 30, 2024

The weekly volume of new listings is now higher than at anytime last year,” Mike Simonsen, founder and president of Altos Research, wrote on Monday. It’s still April, so there could be as many as eight more weeks of seller growth in the spring housing market. On the more bullish side, more inventory could result in more sales.

Mortgage 410

Mortgage New Listings Inventory Sellers 410

Housing Wire

MAY 13, 2024

If you need to communicate about the real estate market with buyers and sellers, you should join us. It’s the peak season for buyers and sellers. Inventory in 2023 didn’t really accelerate until mortgage rates approached 8% in the fall. There are more sellers now as rates have stayed higher for longer. That’s up 1.5%

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New Listings Contracts Inventory Sellers 451

Housing Wire

JUNE 3, 2024

New listings dry up On the other hand, inventory can’t build too much if sellers don’t sell. There are some signals of seller volume drying up. There were only 63,000 new listings this week. Seller volume in 2024 had been slowly growing, and I viewed that as an optimistic trend. is now $453,500.

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Inventory Contracts New Listings Sellers 504