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New listings surge as the spring buying season approaches

Housing Wire

Inventory has been trending upward for the last two years despite persistently high mortgage rates, Mike Simonsen, president and founder of Altos Research , wrote on Monday. Such homes went under contract typically after 17 days on the market. The typical home in the U.S. That’s up 4.2% compared to February of 2023.

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Sellers Listing Their Homes … But Buyers Aren’t Biting 

Appraisal Buzz

May 2024 Market Report Highlights Home values climbed month over month in all 50 of the nation’s largest metro areas in May. Home values are up from year-ago levels in 46 of the 50 largest metro areas. Home values are down from year-ago levels in three major metro areas. Inventory levels are 33.8%

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Where Are Home Prices Heading Over the Next 24 Months?

Appraisal Buzz

The panel’s latest estimates of national home price growth are higher than last quarter’s expectations of 4.3% Terry Loebs , Founder of Pulsenomics, said: “Despite robust home value growth in the first half of 2024, our panelists anticipate a slowdown in price appreciation for the remainder of the year and beyond.

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February pending home sales disappoint, but maybe we’re turning a corner?

Housing Wire

Pending home sales rose for the third month in a row in February, but at 0.8%, the uptick over January was less than is typically seen in the run-up to the spring housing market. Month-over-month, contract signings increased in three U.S. Pending home sales decreased in all four regions compared to one year ago.

Contracts 291
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What’s influencing the increase in REO acquisitions?

Housing Wire

The good news for homeowners is that home values in most areas remain stable, and inventory levels for homebuyers are still low. MC: The demand for REO assets remains strong, with inflows and overall REO inventory levels remaining significantly less than post-Q1 2020 inventories.

Inventory 385
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The nation’s housing market is on a correction course

Housing Wire

Several leading housing-market economists also are projecting the deceleration in home prices will continue in near the future as homebuyer demand ebbs — with one economist even predicting that prices will decline in some particularly hot markets across the nation. So, home sales have really gotten completely hammered,” Zandi said.

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William Raveis ain’t no stinkin’ iBuyer

Housing Wire

” In essence, the program allows WRRE’s sell-side clients to compete with cash-buyers, iBuyers and investors for the little inventory that’s out there when they’re ready to buy. WRRE has offers under contract plus more in the pipeline. . “And then we have our agent commission.”

Brokerage 425