Housing Wire

MAY 25, 2024

The mortgage rate lockdown premise holds that very few people will list their homes when mortgage rates are this high, thus suppressing inventory. But 2024 has proven that theory wrong. 2024 has had healthy inventory growth despite mortgage rates above 7%. Once mortgage rates began rising in 2024, some demand was removed.

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Inventory Mortgage New Listings Marketing 454

Housing Wire

FEBRUARY 4, 2024

How will mortgage rates impact seasonal inventory in 2024? It’s not what I wanted to see in 2024, but I have to be realistic since we are already in February. Weekly housing inventory data One substantial positive story for 2024 is that we have more housing inventory year over year. But at least it’s positive!

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Inventory Mortgage New Listings Housing Market 490

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.

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Housing Market Marketing New Listings Construction 523

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.

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Mortgage Inventory New Listings Contracts 483

Housing Wire

NOVEMBER 27, 2023

You also know that new listings are up over last year, too. New listings volume is up, too. There were 58,000 new listings this week, with 10,000 of those homes already under contract as immediate sales. There’s nothing bullish on the horizon for home prices in 2024. Short on time? from last week.

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New Listings Contracts Inventory Housing Market 490

Appraisal Buzz

DECEMBER 18, 2024

Manchester, NH, Zillow s most favored city for 2024, was a hit with an influx of homebuyers this year. cities, such as page-view traffic, home value increase, and the speed at which properties sell, in order to identify the most popular markets in 2024. Zillow examined housing variables that represent consumer demand in U.S.

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Architecture Home Value New Listings Contracts 370

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. On the bright side, new listings rose 2.2% by the end of this year.

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Mortgage Inventory Investors Housing Market 414

Housing Wire

DECEMBER 7, 2024

But, we observed an improvement in our weekly pending contract data and even today, despite elevated rates, the trend remains better than what we experienced in 2023 and most of 2024. The year-over-year inventory growth is the best housing story for 2024. Weekly inventory change (Nov. Weekly inventory change (Nov.

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New Listings Inventory Contracts Housing Market 479

Housing Wire

JULY 3, 2024

But while home sales are trending at the lowest levels ever when adjusting to the workforce, we have some very positive housing data lines in 2024 compared to the stressed housing markets of past years. In 2024, that number has plummeted to 1.8% , the lowest level ever. Chart below represents Q1 2024 data. Why choose 2011?

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Housing Market Marketing New Listings Contracts 331

Housing Wire

DECEMBER 27, 2024

A new report from Redfin revealed that active listings climbed 12% year over year (954,703 listings) during the four weeks ending December 22, though that was the smallest increase since March. New listings were unchanged at 54,077. Months of supply sat at a healthy four months, up 0.6 points year over year.

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New Listings Sellers Marketing Housing Market 348

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%. That’s up 1.3%

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Housing Market Marketing Inventory New Listings 347

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. These are unsold new listings. Each line is a year.

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Housing Market Marketing New Listings Inventory 425

Housing Wire

NOVEMBER 23, 2024

10-year yield and mortgage rates My 2024 forecast included: A range for mortgage rates between 7.25%-5.75% A range for the 10-year yield between 4.25%-3.21% This week was relatively calm for mortgage rates as the 10-year yield continues to hold steady at a critical level, which ranges from 4.40% to 4.50%. Weekly inventory change (Nov.

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Mortgage Inventory New Listings Contracts 474

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.

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Housing Market Marketing Inventory Construction 415

Sacramento Appraisal Blog

FEBRUARY 14, 2024

Pulling comps in 2024 is tough. I also have some market recap visuals to unpack what’s been happening in 2024 so far. UPCOMING SPEAKING GIGS: 2/19/24 Matt the Mortgage Guy YouTube […] The post The challenge of pulling comps in 2024 first appeared on Sacramento Appraisal Blog. Think about it this way.

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Appraisal Marketing Mortgage New Listings 344

Housing Wire

MARCH 23, 2024

As rates were hitting year-to-date highs, the fear was that the Fed would go hawkish in their March meeting, which could push mortgage rates toward 8% and tank 2024 demand. 8% for spring 2024. What have 2022, 2023, and 2024 shown us? The growth isn’t just in active inventory but also new listings.

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Mortgage Inventory New Listings Housing Market 507

Housing Wire

JULY 13, 2024

The year-to-date data for 2024 is still unfavorable, with 10 positive prints, 14 negative prints and two flat prints. The seasonal decline period is starting soon, so we should get accustomed to seeing a decline in new listing data as the year heads toward its end. And our weekly pending sales data accounts for contracts.

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Mortgage New Listings Inventory Contracts 488

Housing Wire

AUGUST 17, 2024

However, 2024 looks much healthier than 2023 data, as we desperately needed to get off those historically low levels of active listings. So 2024 is a positive year for inventory growth, as higher rates did their job. However, 2024 is still an improvement over 2023, which was the lowest new listing data ever recorded.

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Inventory Mortgage New Listings Contracts 502

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!

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Mortgage Inventory New Listings Housing Market 493

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. But, 2024 is starting stronger than last year. But, 2024 is starting stronger than last year. So the sales rate is already growing for 2024.

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Real Estate Marketing Inventory New Listings 503

Housing Wire

DECEMBER 30, 2023

Since I believe most home sellers are also homebuyers, once new listings created a new low level after mortgage rates reached over 6% in 2022, it added another layer of home demand falling off a cliff. What we want to see in 2024 is new listing data growing in the spring season. Weekly inventory change (Dec.

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Inventory New Listings Housing Market Mortgage 487

Housing Wire

MARCH 2, 2024

Let’s take a look at the inventory data this year to test this premise, since for many months it has been a working theory of mine that new listings data behavior last year marked a bottom and even going into 2024 we should see more sellers. However, we worked from a lower bar in home sales until 2024.

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Inventory Mortgage New Listings Housing Market 531

Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. So far, so good in 2024. New listings data While new listings data isn’t growing in significant terms year over year — sorry, silver tsunami crowd — it is showing growth year over year.

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Inventory Mortgage New Listings Sellers 531

Housing Wire

MAY 22, 2024

Looking ahead, price growth will cool down in the second half of 2024 because of increased inventory and more homes taking a price cut before selling. The chart below shows that the inventory growth rate picked up more in 2024 after March. I love that new listings data is growing yearly, but it’s been too light for me.

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Inventory New Listings Housing Market Contracts 448

Housing Wire

NOVEMBER 30, 2024

10-year yield and mortgage rates My 2024 forecast included: A range for mortgage rates between 7.25%-5.75% A range for the 10-year yield between 4.25%-3.21% The recent decrease in mortgage rates can be attributed to dynamics in the bond market and the current sentiment among bond traders. We’ll see if we get a repeat this year.

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Mortgage Inventory New Listings Contracts 492

Housing Wire

JUNE 8, 2024

However, a positive story for 2024 is that the spreads are better this year than last year. Once mortgage rates began rising in 2024, some demand was removed. As shown below, the year-to-date data isn’t even positive for 2024: we’ve had six positive prints, 13 negative prints, and two flat prints.

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Mortgage Inventory New Listings Contracts 479

Housing Wire

DECEMBER 21, 2024

I typically disregard the last two weeks of the year, and the Mortgage Bankers Association won’t report those figures until the new year. Therefore, Id like to conclude that 2024 ended the year slightly positively. Mortgage spreads The unsung hero of the housing market in 2024 has been the improvement in mortgage spreads.

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Housing Market Marketing Inventory New Listings 418

Housing Wire

SEPTEMBER 15, 2024

10-year yield and mortgage rates My 2024 forecast included: A range for mortgage rates between 7.25%-5.75% A range for the 10-year yield between 4.25%-3.21% Mortgage rates are at their lows for 2024 and are not that far from the very bottom forecast I had for 2024 at 5.75%. More detail on that is here.

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Mortgage Inventory New Listings Retail 512

Housing Wire

JANUARY 28, 2024

Purchase application data As we get closer to the end of the first month of 2024, forward-looking purchase application data looks good. Weekly new listing data: 2024: 44,921 2023: 42,843 2022: 47,713 Price cut percentage Every year, one-third of all homes take a price cut before selling — nothing abnormal about that.

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Inventory New Listings Mortgage Marketing 521

Housing Wire

SEPTEMBER 7, 2024

Let’s take a look at 2024 and see how much lower we can go. 10-year yield and mortgage rates My 2024 forecast included: A range for mortgage rates between 7.25%-5.75% The 10-year yield between 4.25%-3.21% Considering my forecast, we are getting closer to the downside limits on mortgage rates. Weekly inventory change (Aug.

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Mortgage Inventory New Listings Marketing 518

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. Let’s see what the data for last week tells us.

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Inventory Sellers New Listings Mortgage 480

Housing Wire

AUGUST 4, 2024

As we can see below, when the market priced economic weakness earlier in 2024, it took the 10-year yield down toward 3.80% but didn’t break that level. The year-to-date data for 2024 is still unfavorable, with 10 positive prints, 17 negative prints and two flat prints. Can mortgage rates go even lower?

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Mortgage Inventory New Listings Housing Market 486

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. Yes, home prices are still rising in 2024, but the pace is significantly slower than in 2020 and 2021.

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Inventory New Listings Contracts Mortgage 514

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.

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Inventory New Listings Retail Mortgage 503

Housing Wire

MAY 28, 2024

New listings climbed during the past week and there are now 72,000 more single-family homes on the market. It appeared that new listings might be on the decline already, but the pace picked up a tad this week, which is encouraging. real estate market at the end of May 2024. Let’s look at the details of the U.S.

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Inventory New Listings Contracts Sellers 503

Housing Wire

DECEMBER 23, 2023

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. This got tested in 2023 with 8% mortgage rates ; not only did that not happen, but the new listing data was very stable, meaning it was forming a bottom.

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Housing Market Marketing Inventory New Listings 507

Housing Wire

NOVEMBER 21, 2023

At the same time, existing inventory has likely already bottomed out and new listings are keeping steady despite normal seasonal declines. Together, the two may suggest that there really is nowhere to go but up in 2024,” she said. “In

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Inventory New Listings Realtors Contracts 395