Housing Wire

DECEMBER 30, 2024

Rising housing inventory levels in 2024 may not be the positive sign of market health that they appear to be. High inventory levels contribute to another problem as active listings are remaining unsold for longer periods. Redfin refers to these listings as “stale inventory.” metro areas.

Inventory 397

Inventory Sellers Housing Market Contracts 397

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.

Inventory 513

Inventory New Listings Retail Mortgage 513

Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. Weekly housing inventory data Here is a look at the first week of the year: Weekly inventory change (Jan. 12-19) : Inventory rose from 505,223 to 506,414 Same week last year (Jan. So far, so good in 2024.

Inventory 531

Inventory Mortgage New Listings Sellers 531

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 503

Inventory New Listings Contracts Sellers 503

Housing Wire

MARCH 4, 2024

And as a result, as inventory builds , the sales growth trend shows signs of slowing. We know that these higher mortgage rates are deterring buyers, and inventory is building. Will higher rates keep a cap on inventory like it did a year ago? Inventory is up in lock step. But will rates deter sellers also?

Inventory 473

Inventory Sellers Buyers Real Estate 473

Housing Wire

APRIL 1, 2024

Total available inventory is gradually climbing about 1% per week — last year it was still declining in April. As we roll into the second quarter, we should have accelerating inventory growth each week. All of these signals point to rising home sales in 2024. More sellers means more sales in 2024. Why the difference?

Inventory 473

Inventory New Listings Contracts Sellers 473

Housing Wire

NOVEMBER 30, 2023

Homebuyer traffic will increase in 2024, fueled by lower mortgage rates and more existing-home inventory. At the same time, both buyers and sellers will have to reset expectations next year for persistently higher mortgage rates and more negotiations during the transaction.” Existing-home sales will end 2024 at 4.6

Buyers 434

Buyers Housing Market Sellers Inventory 434

Housing Wire

MAY 8, 2024

Housing credit channels directly impact housing inventory channels. Home prices escalated out of control after 2020 and when we look at why that happened, we can see that housing credit mattered more to inventory data than most people realize. This matters because inventory was already heading toward all-time lows before COVID-19.

Inventory 445

Inventory Law New Listings Sellers 445

Appraisal Buzz

NOVEMBER 22, 2024

Demand for “have-it-all” properties and the “forever dream home” will shape this spring’s luxury housing market, according to the Coldwell Banker Global Luxury 2024 Mid-Year Trend Report , which forecasts growing optimism among affluent consumers and an influx of desirable inventory. of responding specialists agreed. elections. “A

Buyers 418

Buyers Luxury Properties Marketing Inventory 418

Housing Wire

NOVEMBER 22, 2023

Going more in-depth than a Fed meeting, our virtual Housing Market Update event provides you with the strategy-building insights needed to operate in 2024. The number of home sales in 2023 will likely be at its lowest level since 2010, and while sales activity will pick up in 2024, transactions will still be below average.

Housing Market 490

Housing Market Marketing Inventory Sellers 490

Housing Wire

SEPTEMBER 22, 2024

Have we seen the bottom in mortgage rates for 2024 after a crazy roller coaster ride so far this year? My 2024 forecast had a mortgage rate range of 7.25%-5.75%. With the 10-year yield at 3.74% as of Friday, we have some room left to reach the very bottom of the 2024 forecast before the year is out.

Mortgage 482

Mortgage Inventory New Listings Contracts 482

Appraisal Buzz

JUNE 27, 2024

A continued dearth of inventory, high home prices and stable mortgage interest rates have kept would-be home buyers at bay this spring.” Economic Forecast NAR projects that even with the Federal Reserve’s reduction in the Fed Funds rate, mortgage rates will still be higher than 6% in 2024 and 2025. million in 2023 to 4.26

Contracts 419

Contracts Inventory Buyers Mortgage 419

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. Ten states have more inventory unsold than in 2019, which was the last sort of normal year before the pandemic. Inventory is still very tight in places like Chicago and New England, but it is rising in these markets.

Inventory 384

Inventory Housing Market Marketing Sellers 384

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?

Inventory 514

Inventory Mortgage New Listings Buyers 514

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. real estate market as we’re now in the second half of 2024. In the past two years, we’ve had rising mortgage rates and rising inventory.

Inventory 444

Inventory Contracts Sellers New Listings 444

Housing Wire

APRIL 20, 2023

months’ worth of housing inventory in the U.S. NAR: First-time buyers were responsible for 28% of sales in March; Individual investors purchased 17% of homes; All-cash sales accounted for 27% of transactions; Distressed sales represented 1% of sales; Properties typically remained on the market for 29 days. We only have 2.6

Inventory 515

Inventory Housing Market Marketing New Listings 515

Appraisal Buzz

SEPTEMBER 13, 2024

As we near the fourth quarter of 2024, the traditional peak of the home-buying season has passed, and the real estate market is entering a period of transition. This growing inventory is expected to persist until October, driven by elevated mortgage rates that are keeping many potential buyers on the sidelines.

Inventory 398

Inventory Real Estate Marketing New Listings 398

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. According to Altos Research , there are 40% more homes on the market at the end of August 2024 than there were last year at this time.

Inventory 461

Inventory Real Estate Housing Market Construction 461

Housing Wire

JULY 27, 2024

One of my critical forecasts for 2024 was the growth of new listings data and active inventory, even with higher mortgage rates. Many of my CNBC interviews , starting from late last year and just last week , have been on this theme, and new listings have grown in 2024. have higher inventory than the national data.

New Listings 457

New Listings Inventory Mortgage Sellers 457

Housing Wire

MARCH 1, 2024

We were up year over year in inventory , but we were at a 25 year low on new listings.” But as the calendar flipped to 2024 and as we inch closer to the spring selling season, Fischer said things have started to pick up. in mid-January 2024. as of February 29, 2024. According to Altos Research, as of Feb.

Housing Market 398

Housing Market Marketing Inventory Construction 398

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 445

Inventory Contracts New Listings Sellers 445

Appraisal Buzz

JANUARY 2, 2025

The October 2024 results for the S&P CoreLogic Case-Shiller Indices were issued today by the S&P Dow Jones Indices (S&P DJI). In October 2024, the leading indicator of U.S. a modest decrease from the previous 2024 annual gains. home values had an annual growth of 3.6%a year-over-year growth (down from 5.2%

Inventory 329

Inventory Buyers Home Value Housing Market 329

Housing Wire

JULY 19, 2024

They say everything is bigger in Texas — and apparently that includes housing inventory growth. According to a second-quarter 2024 report from Texas Realtors, the number of active listings from April to June of this year were up 40.8% months in Q2 2024, good for the highest amount of supply in the state in at least eight years.

Inventory 410

Inventory Realtors Housing Market Buyers 410

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. percentage points).

Housing Market 419

Housing Market Buyers Marketing Inventory 419

Housing Wire

DECEMBER 13, 2023

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year. Mortgage rates The experts unanimously foresee lower mortgage rates in 2024, although none expect rates to fall below 6%. to 6.05%. . million to 5.07

Inventory 474

Inventory Construction Mortgage Buyers 474

Housing Wire

JANUARY 29, 2024

Most economists forecast mortgage rates to decline in 2024, stoking optimism about the housing market. Most forecasts call for rates to bounce within the 6% to 7% range in 2024, marking the first annualized decline after three straight years of gains. by the end of this year. With the U.S.

Mortgage 414

Mortgage Inventory Investors Housing Market 414

Housing Wire

NOVEMBER 11, 2023

Total housing inventory growth has been slow in 2023, but with rising mortgage rates over the last few months, inventory has grown a bit faster than average. The question now is: Have we hit the seasonal peak in inventory for 2023? Last year, according to Altos Research , the seasonal peak for housing inventory was Oct.

Inventory 441

Inventory New Listings Mortgage Retail 441

Housing Wire

MARCH 18, 2024

As we started 2024, the signals in the U.S. real estate market were for inventory growth, sales growth and home-price growth across the U.S. Last year, the most common view was that mortgage rates would fall in 2024. I talk frequently about how rising rates creates rising inventory. They climbed starting Jan.

Inventory 386

Inventory New Listings Sellers Contracts 386

Housing Wire

AUGUST 2, 2024

Auction.com , the nation’s largest online platform for distressed real estate sales, recently reported that demand for homes sold at auction began to decline late in the second quarter of 2024 even as the available supply of foreclosed homes also contracted. This ties into recent CoreLogic data which shows that the U.S.

Inventory 384

Inventory Retail Buyers Renovations 384

Appraisal Buzz

OCTOBER 7, 2024

“The combination of high prices and climbing mortgage rates tempered demand, leading to building inventory, the author explained. In addition to aforementioned price, inventory, and demand-related factors, Florida’s condo market took a substantial hit in the wake of a residential building collapse in Surfside in 2021.

Inventory 418

Inventory Housing Market Buyers Construction 418

Appraisal Buzz

JUNE 12, 2024

Home sellers are returning to the market, but buyers are hesitant, according to a recent Zillow market report. In May, new property listings exceeded sales, allowing buyer competition and price rise to slow—and more price relief is expected. Inventory, New Listings and Pending Sales Overview New listings increased by 7.9%

Sellers 398

Sellers Buyers New Listings Home Value 398

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 419

Inventory Housing Market New Listings Contracts 419

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 million, up 1.5% from August and up 23% from one year ago.

Inventory 337

Inventory Realtors Buyers Real Estate 337

Housing Wire

DECEMBER 30, 2024

All the housing market data for 2024 is in, and its fair to say that the housing market surprised us again! Home prices finished 2024 up a few percent nationally and mortgage rates are at their highest level in seven months back over 7% as we head into January. Inventory is increasing in basically every market around the country.

Housing Market 439

Housing Market Marketing New Listings Inventory 439

Housing Wire

MARCH 8, 2024

Real estate agents in the leafy suburbs of Bergen County, New Jersey say the current housing market — with historically low inventory and record-high prices — is actually more challenging than the multiple offer chaos they sweated through during the pandemic. “At as of March 6, 2024. We are still going to suffer from lack of inventory.”

Housing Market 394

Housing Market Buyers Agents Marketing 394

Housing Wire

AUGUST 26, 2024

Unsold inventory in the two biggest housing markets in the country, Texas and Florida, declined this week. Inventory seems to have peaked for the season and is slowly inching down. These two trends are keeping a cap on inventory for the rest of the year, especially compared to last year. real estate market as of mid-August 2024.

Inventory 374

Inventory Marketing Sellers New Listings 374

Housing Wire

JULY 22, 2024

real estate market as we’re now in the second half of 2024. Inventory sees a big jump There was a pretty big inventory jump of 2.6% We’re rebounding inventory after the holiday, so it’s not that much of a surprise, and it’s less of a jump than what was happening at this time in 2022. Let’s look at the details of the U.S.

Buyers 414

Buyers Inventory New Listings Sellers 414