Housing Wire

SEPTEMBER 26, 2023

Homebuilders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction,” Bright MLS Chief Economist Lisa Sturtevant said. However, mortgage applications for new home purchases increased 4% between July and August, the strongest pace of sales in three months.

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Housing Wire

JANUARY 22, 2025

Right now, more multifamily units are hitting the market than at any time in the past 50 years, but detached homes arent seeing the same surge in construction , Zillow chief economist Skylar Olsen said in a statement. Weve also got the large millennial generation wanting to move into a larger space.

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Housing Wire

MAY 26, 2022

It’s an excellent time to discuss housing inventory. How can housing inventory be so low today when it skyrocketed back in 2009? As you can see below, the inventory keeps falling from 2014 levels, and even with the weakness in demand this year, we are nowhere close to 2013 levels, let alone 2018 levels. What is going on here?

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Housing Wire

JANUARY 19, 2023

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. However, housing affordability worsened.

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Housing Wire

APRIL 11, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Wait, what?

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Housing Wire

MAY 10, 2022

The relative pressure of supply vs. demand in the housing market is gauged by the level of active inventory. Like dropping barometric pressure, plunging inventory usually foretells stormy conditions: Faster price growth and faster sales. The post When will housing inventory recover? appeared first on HousingWire.

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Appraisal Buzz

NOVEMBER 26, 2024

More inventory should shake loose in 2025, giving buyers a bit more room to breathe.” In 2025, Zillow projects that buyer markets will expand to the Southwest as inventory continues to become stranded in reasonably priced cities. With more properties available to buyers, sellers will be under pressure to compete.

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Housing Wire

MAY 3, 2024

No matter where you are in the Tar Heel State, real estate professionals across North Carolina are frustrated by the lack of housing inventory. The challenge remains lack of inventory — that’s definitely the big one,” said Alison Alston , the broker-owner of Charlotte-based Lodestone Real Estate and Investments. “We being outbound. “We

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Housing Wire

DECEMBER 2, 2020

For-sale inventory is at record lows. Construction is starting to pick up, so that should help alleviate things in the housing market. A whopping 63% of sellers are also buyers, which poses yet another concern. The post Why are sellers sitting on the housing market sidelines? But existing homes? Those are another story.

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Appraisal Buzz

OCTOBER 30, 2024

Jones explained that pending home sales, also known as contract signings, measure the first official stage of a home sale transaction—when a buyer and seller have reached an agreement on terms and price. Further gains are expected if the economy continues to add jobs, inventory levels grow, and mortgage rates hold steady.”

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Housing Wire

MARCH 29, 2022

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. Wait, what?

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Housing Wire

FEBRUARY 29, 2024

Fewer homes under construction and falling permits mean dwindling options for future buyers, adding more pressure to a market already strained by tight supply,” Point2 said. The total number of homes under construction fell by 9% in 2023 while the number of permits dropped 11% year over year.

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Housing Wire

FEBRUARY 13, 2024

Lower rates are likely to make homeownership accessible to more buyers and it should prompt some potential sellers who are locked in at a rate of 3% or less to list. Inventory was the theme last year and it is shaping up to be the theme this year,” Ellison said. New construction is backed up,” she said. As of Feb.

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Appraisal Buzz

JANUARY 22, 2025

For-sale inventory continues to recover, but is still 25% below pre-pandemic norms. Right now, more multifamily units are hitting the market than at any time in the past 50 years, but detached homes arent seeing the same surge in construction, saidSkylar Olsen, Chief Economist at Zillow.

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Appraisal Buzz

FEBRUARY 19, 2025

While builders are benefitting from a chronic housing shortage made worse by the sellers strike driven by higher mortgage rates, they still must confront lingering supply-side and affordability headwinds. The post January Residential Construction: Whats Behind Builder Pessimism? Among the supply-side concerns are higher material costs.

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Housing Wire

SEPTEMBER 25, 2024

Meanwhile, sellers who locked in a record-low mortgage rate of 3% or less during the pandemic have been reluctant to sell, limiting supply further and leaving fewer options for would-be buyers. In Florida, new housing inventory has not grown significantly: the number of newly listed homes stands at 43,081, an 8.8%

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Housing Wire

MARCH 22, 2021

.” At the head of this particular snake is the COVID-19 pandemic, which forced lumber mills to close in 2020 due to health and safety concerns, thus crippling builders and construction crews with skyrocketing material prices. The result: a bottleneck with scores of would-be buyers in a low-inventory market.

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Housing Wire

APRIL 18, 2024

The inventory of existing homes has been steadily increasing, despite elevated mortgage rates. At the end of March, total housing inventory sat at 1.11 Meanwhile, unsold inventory sat at a 3.2-month More inventory is always welcomed in the current environment,” Yun added. million units, up 4.7% from February and up 14.4%

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Housing Wire

DECEMBER 2, 2020

As 2020 comes to an end, realtor.com ’s economists believe that the housing inventory shortage won’t be as dire in 2021. Additional lockdowns and quarantines due to COVID-19 could put a dent in housing inventory and sales, potentially slowing down the market and putting increased pressure on buyers, the forecast said.

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Housing Wire

MARCH 1, 2024

We were up year over year in inventory , but we were at a 25 year low on new listings.” Both buyers and sellers are coming back to the market,” Fischer said. Like elsewhere in the country, Indiana has struggled with housing inventory. Very few new construction homes are going up in our area,” Diamond said. 23, 2024.

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Housing Wire

NOVEMBER 22, 2023

Consumers will reset their expectations, and as rates move lower, there will be both more buyers and more sellers in the market. If sellers are enticed into the market before first-time buyers get back in, we could see home prices dip early in 2024. However, the desire for homeownership is very strong.

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Housing Wire

FEBRUARY 4, 2021

There’s no doubt we’re in a seller’s housing market. With inventory at record lows, demand surging and prices on the rise, buying — even just finding — a home in today’s market is quite the challenge. Not only can it give you a good price range to work with, but it can also make sellers more likely to choose your offer.

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Housing Wire

FEBRUARY 6, 2025

Buyers want affordable new homes, yet new construction listings are still playing catch up with their high-priced counterparts. Beyond that, Deephaven allows up to 3% seller concessions at closing. Construction loans Inventory levels in the real estate market arent what they used to be. Why is that important?

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Housing Wire

MAY 20, 2024

Newly built homes have taken up an outsized portion of inventory since the pandemic for two main reasons, according to Redfin. home construction at the onset of the pandemic. Many potential sellers prefer to keep their low rates rather than move and trade in for higher ones. “We

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Housing Wire

AUGUST 14, 2024

This gave sellers the upper hand, but the market has turned in recent months. This has taken power away from sellers, who now face a shortage of potential buyers. Inventory in the city has also risen sharply, giving buyers more options and more leverage in negotiations. People still need to upsize or downsize.”

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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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Housing Wire

DECEMBER 6, 2024

Building on existing relationships is the quickest and easiest way to keep your pipeline filled with active buyers and sellers, so you dont have to worry about dry spells. Your newsletter content should be a mix market updates, buyer and seller advice, community news and events, and storytelling.

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Housing Wire

JANUARY 26, 2021

Record low inventory and strong buyer demand once again pushed up the cost of homes in the U.S., “With buyer demand continuing to outpace the previous year’s levels amid historically lowest inventory of for-sale homes, the pressure on home prices is going to fuel home price growth in the first half of 2021,” Happ said.

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Housing Wire

SEPTEMBER 26, 2023

That’s right — for all the hype of massive housing inventory coming from the builders, today we sit here still trying to work back to pre-COVID-19 levels with just 76,000 completed homes ready to be moved. This is why I have called them efficient home sellers. months, the builders will pause construction. We are at 7.8

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Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). He also expects more sellers to enter the market, as they adapt to prolonged higher rates.

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Housing Wire

FEBRUARY 16, 2023

Last year we had monthly existing home sales collapse back to 2007 levels, except this time around, NAR has total inventory at 970,000 and not over 4 million. In an odd twist of fate, the delays due to COVID-19 are currently an infrastructure and jobs program for Americans in the construction industry. months of supply.

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Appraisal Buzz

JUNE 25, 2024

approximately one-third (33.4%) of single-family houses listed for sale in the first quarter were recently constructed; this percentage is down from a record-high 34.5% The percentage of newly constructed homes in the market is still over twice that of pre-pandemic levels. In the U.S.,

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Housing Wire

MARCH 23, 2022

Second, because of the downtrend in inventory since 2014 and the demand pick-up we will see in the years 2020-2024, we had a risk of home prices accelerating too much. months and above, the builders will pull back on construction. It’s taking forever to build a home and that has created a huge number of homes under construction.

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Housing Wire

APRIL 25, 2023

You know, the one that says we have too much inventory and millions of vacant homes in the U.S.? According to this theory, we have more homes under construction than any time in history. months and above, the builders will pull back on construction. 267,000 homes are under construction, still. When the supply is 6.5

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Housing Wire

APRIL 23, 2024

From there — and when combined with employment in construction and housing permit data — the thinking around rates will become clearer. “If I believe that our obligation is to communicate with the data for everybody in the cycle, from the biggest players down to every single homebuyer and seller,” Simonsen said.

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Housing Wire

JULY 13, 2024

Weekly housing inventory data This week’s data was hit with the July 4th bug. So, I will not make any statements about the decline in inventory week to week, except that it’s been affected by the holiday and we should get back on trend next week. have higher inventory data than the national data.

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Housing Wire

MARCH 25, 2021

“During the course of the pandemic, ‘home’ had become more important than ever, and as a result, strong purchase demand continues—but buyers also outnumber the sellers,” Khater said. Many economists speculate rising rates will be the key to quelling construction woes, even if it does eventually take a slight toll on demand.

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