Housing Wire

AUGUST 17, 2024

Have lower mortgage rates already started to slow down housing inventory? I have a simple weekly growth model with the Altos inventory data: when rates are high, over 7.25%, inventory should grow between 11,000-17,000 weekly. Still, I would consider the last month of inventory growth healthy.

Inventory 502

Inventory Mortgage New Listings Contracts 502

Housing Wire

SEPTEMBER 1, 2024

Have we seen the peak in housing inventory for 2024? The best part about 2024 has been that higher mortgage rates have created an inventory buffer, so if the economy gets softer and rates fall, we have many more homes to work with than we had in 2020-2023. Weekly inventory change (Aug. Weekly inventory change (Aug.

Inventory 492

Inventory Mortgage New Listings Housing Market 492

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

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. But the evidence is the opposite.

Inventory 509

Inventory Sellers New Listings Real Estate 509

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

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 466

Inventory New Listings Mortgage Finance 466

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. Here is a look at last week: Weekly inventory change (Feb.

Inventory 503

Inventory New Listings Retail Mortgage 503

Housing Wire

JANUARY 6, 2024

I believe we should get more sellers in 2024 than in 2023, but that doesn’t necessarily mean home prices will fall. Here are the year-over-year price-cut percentages from the first week of the year: 2024 32.8% However, one key for 2024 is finding the seasonal bottom in housing inventory sooner rather than later.

Inventory 537

Inventory New Listings Housing Market Mortgage 537

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 442

Inventory New Listings Retail Mortgage 442

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.

Inventory 480

Inventory Sellers New Listings Mortgage 480

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 399

Inventory Housing Market Marketing Sellers 399

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 447

Inventory Law New Listings Sellers 447

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. That’ll feel like a lot!

Inventory 485

Inventory New Listings Contracts Sellers 485

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%

Inventory 397

Inventory Development Real Estate Tenants 397

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 483

Mortgage Inventory New Listings Contracts 483

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. We’re at 19% year over year inventory gains now.

Inventory 481

Inventory Sellers Buyers Real Estate 481

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 343

Inventory Sellers Housing Market Contracts 343

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 475

Inventory Real Estate Housing Market Construction 475

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 458

Inventory Contracts Sellers New Listings 458

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 456

Inventory Contracts New Listings Sellers 456

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 513

Inventory Mortgage New Listings Buyers 513

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 460

New Listings Inventory Mortgage Sellers 460

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 425

Inventory Realtors Housing Market Buyers 425

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 2024 and from 2024 to 4.92

Contracts 418

Contracts Inventory Buyers Mortgage 418

Housing Wire

DECEMBER 26, 2023

trillion to $2 trillion in 2024. 18 released a $2 trillion forecast for one-to-four family loan originations in 2024. According to George, there will be “a small amount” of cash-out refinances, and the purchase market might see “a little bit of an improvement,” but overall, 2024 “doesn’t look better.”

Mortgage 496

Mortgage Inventory Marketing Finance 496

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 397

Inventory Real Estate Marketing New Listings 397

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 433

Inventory Housing Market New Listings Contracts 433

Housing Wire

JULY 19, 2024

year over year in June 2024. Inventory has also grown in recent years, with single-family housing supply at 650,000 units last week, according to Altos Research data. Price growth should slow down in the second half of 2024, and homebuyers will have more choices if rates cool down. “If

Inventory 400

Inventory Construction Mortgage Development 400

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 391

Inventory Marketing Sellers New Listings 391

Housing Wire

JANUARY 1, 2024

Now that we’re in 2024, the Federal Reserve ‘s rate hike cycle is over, so let’s look at what that means for housing demand and home prices. Here’s my forecast for 2024: 10-year yield and mortgage rates For 2024, the 10-year yield range will be similar to 2023, but with a few different variables to watch.

Housing Market 523

Housing Market Marketing New Listings Construction 523

Housing Wire

AUGUST 1, 2024

The average 30-year fixed-rate mortgage dropped to 6.62% on Thursday, a new low for 2024 that appears to be tied to the expectation that the Federal Reserve could move to cut interest rates at its next meeting in September. This is according to data reported by Mortgage News Daily.

Mortgage 518

Mortgage Inventory Marketing 518

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. “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.

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Inventory Buyers Housing Market Mortgage 329

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 400

Inventory Retail Buyers Renovations 400

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 354

Inventory Realtors Buyers Real Estate 354

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 417

Inventory Housing Market Buyers Construction 417

Housing Wire

JULY 23, 2024

Home price growth in the second quarter was stronger than previously anticipated, but economists at Fannie Mae believe it will likely moderate soon, closing 2024 and 2025 at annualized rates of 6.1% Credit: Fannie Mae Fannie Mae said Tuesday it expects the Consumer Price Index to end 2024 at 2.9% in 2024 and 6.4%

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Inventory Housing Market Construction Mortgage 402