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New listings have peaked for 2024: It’s the second-lowest year on record

Housing Wire

One of my critical forecasts for 2024 was the growth of new listings data and active inventory, even with higher mortgage rates. However, the new listings data has slightly disappointed me. New listings data I am pleased that we’ve seen new listings data grow year over year — it’s a big step forward.

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Fed’s Beige Book shows recent moderation in mortgage rates propped up demand for homes

Housing Wire

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday.

Mortgage 448
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Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. Housing markets continued to weaken, with sales and construction declining across [all 12 Federal Reserve] districts,” according to the Federal Reserve Beige Book released on Wednesday.

Inventory 448
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Is mortgage demand really picking up?

Housing Wire

Now, context is critical; 2023 new listings data was at the lowest levels ever and 2024 looks to be second in the book. Now, context is critical; 2023 new listings data was at the lowest levels ever and 2024 looks to be second in the book. However, I will take this small victory.

Mortgage 481
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Housing inventory falls as mortgage rates drop

Housing Wire

25 -Sept 1): Inventory rose from 503,924 to 509,562 The all-time inventory bottom was in 2022 at 240,497 The yearly inventory peak for 2024 was last week at 704,744 For some context, active listings for this week in 2015 were 1,204,810 New listings data New listing data is experiencing its traditional seasonal decline.

Inventory 538
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Can mortgage rates go even lower?

Housing Wire

I didn’t get my minimum estimate for peak weekly new listings during the annual seasonal peak of 80,000. I didn’t get my minimum estimate for peak weekly new listings during the annual seasonal peak of 80,000. I was off by roughly 5,000, but still, 2024 is a positive year in my book for new listings.

Mortgage 533
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Existing home sales data shows extent of housing inflation

Housing Wire

From NAR Research : “Total existing-home sales notched a minor contraction of 0.4% Existing home sales have more legs to go lower, especially now that new listing data is falling. It doesn’t even look like we will breach the lower level of my inventory wish list of 1.52 from July to a seasonally adjusted annual rate of 4.80

Inventory 482