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Home sellers are returning to the market

Housing Wire

It’s still April, so there could be as many as eight more weeks of seller growth in the spring housing market. And seller growth is happening pretty much everywhere across the country, with Florida and Texas leading the way. The bearish take is that there are many more sellers than buyers and inventory is rising.

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Are home sellers finally coming back to the market?

Housing Wire

The defining characteristic of the 2023 housing market has been dramatically fewer home sellers than any recent year. In this week’s Altos Research video, I look at how home sellers and sales are up, but that doesn’t mean prices will climb in 2024. There are still far fewer sellers each week than in the pre-pandemic era.

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Altos: Sellers are coming back to the housing market, can buyers keep up?

Housing Wire

Each week — for several months now — inventory levels of unsold homes on the market has been expanding compared to last year. There are still notably not a lot of sellers. But home sellers are gradually easing back into this housing market. But home sellers are gradually easing back into this housing market.

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Contracts for deed are under federal mortgage protections: CFPB 

Housing Wire

The Consumer Financial Protection Bureau (CFPB) on Tuesday released an advisory opinion stating that contracts for deed are under federal home lending rules and should provide consumer protections. According to a CFPB, sellers typically target low-income borrowers, particularly in Black, Hispanic, immigrant, and religious communities.

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More home sellers are withdrawing listings

Housing Wire

While inventory of unsold homes in the housing market in each of the last two years headed higher during September and October due to mortgage rate spikes, we’re seeing a more normal seasonal pattern now with inventory beginning to decline. We’re also seeing more home sellers withdrawing their listings to try again next year.

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Which metros are seeing a surge of home sellers?

Housing Wire

Despite the Florida hurricanes, and in the face of recently rising mortgage rates , unsold inventory of homes on the market climbed this week by about 1%. The seasonal changes in the housing market are very different from what they used to be with inventory peaking two or three months later in the year. Homeowners are staying put.

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Higher mortgage rates keep the market subdued even as more sellers list their homes

Housing Wire

Data from Altos Research shows that higher mortgage rates aren’t necessarily keeping sellers from listing their homes. New pending sales are also on the rise, with the 60,000 homes going under contract last week representing a 9% increase from the same week last year and an 11% increase from the same week in 2022.

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