Housing Wire

JULY 6, 2023

It boils down to two factors, according to housing-industry experts: a lack of housing inventory , or supply; and high demand for that limited housing stock — which also is fueling a jump in new-home sales. In other words, if there were more inventory, we would have more sales happening.” through the first quarter of 2024.”

Inventory 457

Inventory Renovations Real Estate Government 457

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

NOVEMBER 30, 2024

While the increase in demand may not be significant, it’s still a positive development, and that’s worth celebrating! Mortgage spreads The mortgage spread situation has improved in 2024, especially compared to the tough times in 2023. We should expect a decline in inventory until the spring season starts heating up again.

Mortgage 490

Mortgage Inventory New Listings Contracts 490

Housing Wire

NOVEMBER 30, 2023

The current trajectory of rates is an encouraging development for potential homebuyers, with purchase application activity recently rising to the same level as mid-September when rates were similar to today’s levels,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “The by the second quarter of 2024. on Thursday.

Mortgage 512

Mortgage Inventory Tools Investors 512

Housing Wire

NOVEMBER 16, 2023

On the construction side, homebuilders as well as land developers found it hard to finance projects because of high short-term interest rates. However, the rate of housing inflation is steadily falling and there are high hopes that interest rates will fall in 2024. In particular, the 10-year Treasury rate moved back to the 4.5%

Inventory 392

Inventory Construction Housing Market Finance 392

Appraisal Buzz

JUNE 25, 2024

When asked to rank-order the most critically important issues facing mortgage lenders today, respondents to The Mortgage Collaborative ’s 2024 Pulse of the Network survey identified business development as their top concern. Unsurprisingly, respondents identified growing volume as their top objective for 2024. And while 36.7%

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Development Business Mortgage Inventory 195

Housing Wire

DECEMBER 14, 2024

Lets look at this weeks Tracker data to see if this trend can continue for the rest of 2024. This is the weekly pending sales for last week over the previous few years: 2024: 304,034 2023: 275,022 2022: 277,102 Purchase application data The weekly data on purchase applications showed a week-to-week decline of 4%.

Mortgage 395

Mortgage Inventory New Listings Contracts 395

Housing Wire

MAY 18, 2024

Weekly housing inventory data For the third consecutive week, we haven’t quite reached my weekly target of inventory growth between 11,000 and 17,000 homes. However, we came close to our target with inventory growth of 9,726 and there’s a silver lining: mortgage rates have recently fallen.

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New Listings Inventory Mortgage Contracts 432

Housing Wire

JANUARY 18, 2024

This is an encouraging development for the housing market and in particular first-time homebuyers who are sensitive to changes in housing affordability. 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.

Mortgage 530

Mortgage Inventory Retail Construction 530

Housing Wire

DECEMBER 23, 2024

New home sales grew over last month in the latest Census report , but homebuilders are now facing a supply issue their inventory is building up. From Census: New Home Sales : Sales of new single-family houses in November 2024 were at a seasonally adjusted annual rate of 664,000, according to estimates released jointly today by the U.S.

Construction 457

Construction Inventory Mortgage Development 457

Appraisal Buzz

SEPTEMBER 5, 2024

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Construction 461

Construction Inventory Housing Market Contracts 461

Housing Wire

JANUARY 23, 2024

This is according to a new report from home improvement services company Leaf Home and market research firm Morning Consult , which enlisted responses from 1,001 baby boomer homeowners (aged 59–77) and 1,001 millennials (aged 27–42) in late December 2023 and early January 2024.

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Renovations Home Improvement Inventory Housing Market 486

Housing Wire

MAY 11, 2024

Weekly housing inventory data Last week was another week that missed my inventory growth model with higher rates. I am always looking for weekly inventory growth between 11,000 and 17,000 when rates are over 7.25%. Rates have fallen recently and inventory growth was higher last week than the previous week.

Mortgage 396

Mortgage Inventory New Listings Housing Market 396

Appraisal Buzz

JUNE 21, 2024

According to the Fannie Mae Economic and Strategic Research (ESR) Group’s June 2024 analysis , affordability restrictions continue to limit the amount of buyers wanting and able to make home purchases, despite an increase in for-sale home listings. million in 2024, marking a moderate 1.3% annual rise vs the previously projected 2.8%.

Inventory 398

Inventory Construction Finance Development 398

Housing Wire

JUNE 28, 2022

I developed a specific home-price growth model for the years 2020-2024 which said that if home-price growth grew at 23% for five years we would be fine, with total housing demand —both new and existing homes together — getting to 6.2 When it comes to the years 2020-2024, don’t think of a housing boom in sales or credit.

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Housing Market Marketing Inventory Investors 462

Housing Wire

NOVEMBER 25, 2020

million until we reached the years 2020-2024. Census Bureau and the Department of Housing and Urban Development. Higher levels of Inventory in the range of 4.4 If inventory breaks over 6.5 I have been consistent in my stance that during the years 2008 to 2019, we had the weakest housing recovery ever. Anything below 4.3

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Housing Market Inventory Construction Marketing 538

Housing Wire

JUNE 22, 2024

Let’s dig into the data to understand these developments better. The year-to-date data for 2024 is unfavorable, with 8 positive prints, 13 negative prints and two flat prints. Weekly housing inventory data Inventory hit another one of my target levels this week, making it four times this year!

Mortgage 368

Mortgage Inventory New Listings Contracts 368

Housing Wire

DECEMBER 23, 2020

Census Bureau and the Department of Housing and Urban Development. We don’t need to be concerned about the moderation in the new home sales data because inventory is still low. ” I’m sure you’ve heard the thesis that low inventory suppresses sales. Builder confidence is primarily based on inventory.

Inventory 530

Inventory Construction Housing Market Design 530

Appraisal Buzz

OCTOBER 23, 2024

According to proprietary data from Auction.com , early indications of waning demand for distressed properties sold at auction that appeared late in the second quarter persisted throughout the third quarter of 2024. Of those 65 markets, 29 (45%) reported higher sales rates in Q3 2024 than they did in the same period last year.

Retail 370

Retail Marketing Inventory Development 370

Appraisal Buzz

OCTOBER 18, 2024

Department of Housing & Urban Development (HUD) have announced new residential construction statistics for September 2024. below the revised August 2024 rate of 1,470,000, and 5.7% The housing market remains structurally underbuilt, and homeowners with locked-in low mortgage rates are keeping existing-home inventory limited.

Construction 419

Construction Housing Market Inventory Home Value 419

Appraisal Buzz

NOVEMBER 1, 2024

For a number of factors, the proportion of newly constructed homes for sale has decreased from its peak, including: The market has seen an increase in existing inventory. The total supply of inventory of single-family homes is up 22% over the previous year. Overall U.S.

Construction 370

Construction Inventory Real Estate Agent Agents 370

Housing Wire

MAY 15, 2024

FHFA , in its March 2024 research paper, The Lock-In Effect of Rising Mortgage Rates , quantified the degree to which rising mortgage rates slowed housing purchases in 2023. Researchers developed a framework for estimating the number of home sales in 2024 based on the current levels for mortgage rates.

Mortgage 368

Mortgage New Listings Inventory Sellers 368

Housing Wire

FEBRUARY 9, 2024

Lot inventory tightened on a quarterly basis, however, a signal of rising builder activity. 75% of builders intend to start more homes in 2024 compared to 2023, and those starts require lots. Miami and San Diego also posted tight inventories of land, a display of geographic and topographic limitations on land and lot development.

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Development Inventory Construction Real Estate 360

Housing Wire

DECEMBER 18, 2023

Recent economic readings suggest improving housing conditions in 2024. With the nation facing a considerable housing shortage, boosting new home production is the best way to ease the affordability crisis, expand housing inventory and lower inflation.”

Mortgage 459

Mortgage Development Buyers Housing Market 459

Housing Wire

MARCH 23, 2022

For 2020-2024, I set some critical parameters for sales and price growth, knowing that this marketplace will be different from the market we had from 2008 to 2019. million or higher during 2020-2024. The demographic bump in 2020-2024 is giving us a push in demand. As always, the years 2020-2024 were going to be different.

Mortgage 439

Mortgage Inventory Housing Market Construction 439

Housing Wire

OCTOBER 24, 2024

From Census : New home sales: Sales of new single-family houses in September 2024 were at a seasonally adjusted annual rate of 738,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. percent (±14.7 percent)* above the revised August rate of 709,000 and is 6.3

Construction 422

Construction Property Taxes Inventory Mortgage 422

Appraisal Buzz

DECEMBER 13, 2024

In Housing Hot Spots for 2025: Top Markets Amid Stabilizing Rates , NAR Chief Economist and SVP of Research Lawrence Yun reveals 10 top housing hot spots, provides a 2025 real estate and economic outlook and reviews the 2024 housing market.

Inventory 370

Inventory Bracketing Buyers Housing Market 370

Housing Wire

MAY 17, 2024

Over the years, he traveled extensively to its field operations, maintained a culture of family and care, and developed initiatives that focused on employees and their families, the company said. As of March 31, 2024 , D.R. At the end of March, the company had 45,000 homes in inventory. As a result, D.R. since 2002.

Inventory 346

Inventory Development Real Estate Insurance 346

Housing Wire

MAY 20, 2024

during the first quarter of 2024 remained steady compared to last year, fueled by a continued shortage of existing-home supply. Newly built homes have taken up an outsized portion of inventory since the pandemic for two main reasons, according to Redfin. Department of Housing and Urban Development (HUD). two years ago.

Construction 403

Construction Inventory Buyers Sellers 403

Housing Wire

JUNE 10, 2024

in April 2024 — with a 10% down payment, a typical mortgage would be approximately $350,000. FHFA in its March 2024 research paper , The Lock-In Effect of Rising Mortgage Rates , quantified the degree to which rising mortgage rates slowed housing purchases in 2023. Part of the home sales slowdown in 2023 was due to a lack of inventory.

Mortgage 356

Mortgage Inventory New Listings Sellers 356

Housing Wire

NOVEMBER 4, 2021

From 2022 through 2024, this total represents a need for an additional 2.2 Since the last housing bubble burst, when more than a million residential construction workers lost their jobs , a shortage has developed. Top markets for affordable renovated housing inventory. million new hires for construction.

Construction 525

Construction Renovations Training Development 525

Housing Wire

DECEMBER 22, 2023

Census Bureau and the Department of Housing and Urban Development ( HUD ). According to Robert Dietz, chief economist at the National Association of Home Builders (NAHB), new home inventory represented about 30% of the total inventory on the market in 2023, compared to the historical norm of 12%. This is 12.2%

Inventory 383

Inventory Government Development Marketing 383

Housing Wire

JUNE 4, 2024

Economists are forecasting a gain of 190,000 jobs during the month, up from the 175,000 jobs added in April, which was the lowest level of 2024. Expectations of multiple rate cuts in 2024 have been dashed as inflation continues to run above the Fed’s 2% annual target and employers continue to add jobs at a healthy clip. That was up 1.7%

Mortgage 393

Mortgage Inventory Realtors Development 393

Housing Wire

JANUARY 23, 2024

With the coming together of interest rate drops, the persistent, continued low inventory levels and 2023 being recorded as the slowest year for U.S. This decline, coupled with the aforementioned low inventory levels, is set to rekindle suppressed buyer demand. Will we get more inventory? The strategy has changed for buyers.

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Real Estate Agent Real Estate Buyers Agents 406

Housing Wire

JULY 24, 2024

From Census : New Home Sales: Sales of new single-family houses in June 2024 were at a seasonally adjusted annual rate of 617,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. percent (±14.6 percent)* below the revised May rate of 621,000 and is 7.4

Construction 418

Construction Inventory Mortgage Marketing 418

Housing Wire

JANUARY 17, 2024

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. ” However, Basu notes supply chains are already facing new pressures in 2024. Builders like D.R.

Construction 428

Construction Supply Chain Transportation Buyers 428

Housing Wire

JANUARY 9, 2024

That increased capacity in the private-label securities market is key to continuing the momentum of home-equity lending into 2024, industry experts say. What remains an unknown, however, is whether housing inventory, pricing and interest rates will settle into a goldilocks zone that allows home equity lending to flourish.

Lending 421

Lending Inventory Mortgage Finance 421