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Additionally, our weekly pending contract data and newlistings are trending positively compared to last year. Weekly total pending sales The latest weekly total pending contract data from Altos offers valuable insights into current trends in housing demand.
The three years in the post-pandemic housing market have been marked by very few sellers 60,000 newlistings in a given week vs. 80,000 in years’ past. Inventory continues to contract There are now 651,000 single-family homes unsold on the market across the U.S. These are unsold newlistings.
Weekly pending sales The latest weekly pending contract data from Altos offers valuable insights into current trends in housing demand. However, our shorter weekly contract data lines are showing improvement. And remember, mortgage rates fell to around 6% in late 2022 and early 2023.
We already see many signals for what to expect, including last week’s data on inventory , newlistings and price reductions, which I analyze below. Newlistings One way reason it will be hard for inventory to grow more than 17% next year is that there are still not enough sellers to get there.
Newcontracts for home purchases are coming in very low this month. Buyer activity has been dropping for several weeks and there are now fewer homes in contract than a year ago. Buyer activity has been dropping for several weeks and there are now fewer homes in contract than a year ago. When will that be? I have no idea.
Weekly pending sales The Altos Research weekly pending contract data provides insights into real-time demand. Even today, the pending contract data remains resilient despite higher home prices and mortgage rates than last year. Still, when it’s all said and done, 2024 will be the second-lowest newlistings year in history.
The median price of the homes that went into contract this week — these are the new purchase offers with contracts pending — is now 6% greater than last year. Florida had an uptick in inventory with a bit of a rebound in newlistings now that the storms are over. Home prices ticked up this week.
The New Years week was expected to be slow, so it’s no surprise that newlistings and sales are down. The Christmas and New Year’s holidays fell on Wednesdays this year, which messes up two full weeks in terms of getting home sales done and tracking the numbers. Those will start rebounding in next weeks data.
Newlistings ticked up by 21% in February compared to last year, according to Zillow ’s February report. Newlistings rose 20% from January, and each of the 50 largest U.S. metros experienced an increase in newlistings. Texas and Florida saw the biggest jump in newlistings, year over year.
There were 45,000 newlistings for single-family homes across the country this week, which is a big jump. Newlistings jump The supply story in real estate must take into account the new sellers each week. I do not expect a flood of new sellers, but we do see growth.
Newlistings data has been moving lower over the last few weeks. The moves haven’t been significant and our weekly pending contracts data picked up this week. But, we need to see more growth in newlistings data just to grow from 2023 levels.
Newlistings To get a lot of homes on the market though we need some sellers. There were only 54,000 newlistings of single-family homes unsold this week. There were another 10,000 newlistings immediate sales which makes 64,000 homesellers. Unsold newlistings amount to 4.8% Thats not a ton.
Weekly pending sales The latest weekly pending contract data from Altos Research offers valuable insights into current trends in housing demand. The last two years were the two lowest newlistings data years in history. 26 in Dallas. We are still showing higher growth versus 2023 levels but not by much.
One of my critical forecasts for 2024 was the growth of newlistings data and active inventory, even with higher mortgage rates. However, the newlistings data has slightly disappointed me. Newlistings data I am pleased that we’ve seen newlistings data grow year over year — it’s a big step forward.
Despite this, we had positive data on existing home sales , purchase applications, and our weekly pending contract figures. Total active listings are experiencing their traditional seasonal decline, but with less than two weeks left in the year, its evident that there are ready homebuyers in America. Weekly inventory change (Dec.
The rules of supply and demand economics always end up winning and weekly newlisting data is key. Newlisting data is growing year over year, but it will be the second-lowest newlisting data ever recorded in history. This contract data will grow if mortgage rates head lower and stay lower.
NewlistingsNewlistings also dipped for the second week in a row. Theres probably some weather effects in there, and I expect to see a jump in the newlistings volume in next weeks data. There were just over 53,000 newlistings unsold, plus another 10,000 newlistings immediate sales.
This week, we count 14% more homes in the contract pending stage now than a year ago. Another tricky part of communicating this news is that home sales aren’t suddenly great. Newlistings rise There were just under 61,000 newlistings unsold this week. For whatever reason, the trend seems to be holding now.
Newlistings grew 7% from the week prior Last week saw 68,000 newly listed single-family homes. As such, the pace of newlistings seems to be picking up for the spring and the post-pandemic era. Additionally, there were 14% more newlistings unsold compared to this time last year. Let’s dive in.
Newlistings move upward, but remain historically low Altos uses new real estate listings data as a key indicator of seller activity in the D.C NewListings are the homes that were listed for sale in a given week and added to the active inventory. housing market. As unemployment in D.C housing market.
Weekly pending sales The latest weekly pending contract data from Altos offers valuable insights into current trends in housing demand. Weekly pending contracts for the past week over the past several years: 2025: 323,456 2024: 334,017 2023: 314,696 We have a better day on purchase applications but pending home sales, nothing of note.
Home prices contract The median price for home sales contracts entered this week was at $389,700. Newlistings drop There were just under 49,000 newlistings unsold for single-family homes this week. This week bucked the trend with a little positive move to 56,000 newcontracts started.
Remember that 2023 had the lowest newlistings data ever and 2024 will have the second lowest. Here are newlistings for last week over the past several years: 2024: 62,876 2023: 57,229 2022: 59,458 Price-cut percentage In an average year, one-third of all homes take a price cut — this is standard housing activity.
Weekly pending sales The latest weekly pending contract data from Altos Research offers valuable insights into current trends in housing demand. The last two years were the two lowest newlistings data years in history, and they were also not healthy years for the newlistings data. 26 in Dallas.
of homes that went under contract that month. Homes Sold at the Slowest December Pace in Five Years The study also found that the typical home that went under contract in December was on the market for 49 daysthe slowest December pace since 2019. of homes went under contract within two weeksthe lowest share in five years.
This is measurable in both the total unsold inventory and the number of newlistings each week. There are 358,000 single-family homes in contract right now, and they are priced only 50 basis points above last year at this time. Well, newlistings are climbing. In this chart, we have the weekly newlistings rate.
Newlistings are hitting the market Last year was an environment with 5% to 10% more sellers each week than a year prior. This week, the newlistings stat has grown with slightly more sellers. But weekly newlistings volume is low compared to January 2024, which is a sign of market stagnation.
Home listings fell in neighborhoods hit by the wildfires, too. Listings slowed a bit in Februarybut not nearly as much as sales. There were 23 newlistings in the Palisades, down 12% year-over-year, and 46 newlistings in Altadena, down 6%. million in February, down 8% year-over-year. Home sales rose 6.2%
home listing that went under contract stayed on the market for 54 days, which is the longest period since March 2020 and one week longer than it was at this time last year. As newlistings increase and mortgage rates declineat least somewhatfrom their peak in early January, the market should pick up steam in the upcoming weeks.
home that went under contract in February was on the market for 54 daysthe longest period for any February since 2020, and up six days from a year earlier. In Miami, the typical home that went under contract last month sat on the market for 94 daysmore than any other major metro. Pace of Sales Hits Five-Year Low The typical U.S.
They also understand the affordability crunch that buyers face and therefore theyre pricing the listings a little lower than last year at this time. Meanwhile, the median price of the newcontracts pending this week came in at $384,700, which was a slight jump from last week. There were 52,000 newcontracts pending this week.
decline in pending house sales, or homes under contract, as buyers were burdened by high mortgage rates and financial uncertainties. more unsold properties overall, including those under contract. March saw the greatest number of new home listings in three years, up 10.2% 2019 Median listing price +0.0% (to $424,900) +38.9%
Newlistings When we look at the sellers entering the market, there were 45,000 newlistings last week. That is 14% more home sellers listing their properties in December than the same week a year ago. Home sales Meanwhile, there were 47,000 newcontracts started for single-family home sales in the last week.
Newlistings remain low as owners lock in Altos’s data for newlistings accounts for single-family homes that come to market without an immediate or pending contract. Newlistings for single-family homes or condos are key indicators of seller behavior and newlistings ramped up during the week of Feb.
As evidence, “a notable uptick in sales was observed from January to May, coinciding with the introduction of newlistings,” according to the report. Conversely, the subsequent contraction of inventory in June was mirrored by a diminished sales volume. A slight increase in luxury home inventory is expected, 59.3%
New York City continued to demonstrate strength in home prices, up 7.2% The index includes sales of properties that went under contract in October, so it doesn’t quite capture what’s currently happening in the housing market. year over year in December. Home prices reached an all-time high in Boston after a 6.6%
Active listings of homes for sale rose to the highest level since early in the pandemic. Newlistings hit the highest level since July 2022, increasing 1.9% of homes that went under contract last month. Newlistings: Newlistings rose most in Seattle (30.8%); Oakland, California (27.7%); and Sacramento, California (25%).
Newlistings volume is trying to grow with its biggest week since September. List prices inched up for the week, though sales prices did not advance. We calculate that while there were 63,000 newly pending single-family home sales in the week, there were another 20,000 withdrawn listings across the country.
The number of newly listed houses was 10.8% This puts the number of newlistings at its highest January level since 2021 and indicates that sellers are becoming more interested in the market. The percentage of mortgage holders with a rate below 6% dropped to 83% from 88% a year earlier, according to a new Realtor.com analysis.
Newlistings climbed during the past week and there are now 72,000 more single-family homes on the market. It appeared that newlistings might be on the decline already, but the pace picked up a tad this week, which is encouraging. Newlistings There were 72,000 newlistings this week.
Those metrics, specifically the pace of newlistings and new sales contracts, slowed this week. Our immediate sales metric of homes that get offers within a couple days of listing also slowed. Newlistings and newcontracts both still show a bit of improvement over 2023, but the growth rates have slid back down.
If we look at the housing market right now, sales are down, newlistings are down and prices are decelerating. Home prices and newlistings dipped too. On the pricing side, last week had the first negative print on year-over-year price for newlistings. Is it darkest before the dawn?
Newlistings on trend Nationally, there were just 31,000 newlistings for single-family homes from the last week which included Thanksgiving weekend. Hard to say, but like the slight growth in newlistings, seeing a slight growth in home sales is an optimistic view of the housing market. is $384,900 now.
The seasonal decline period is starting soon, so we should get accustomed to seeing a decline in newlisting data as the year heads toward its end. The seasonal decline period is starting soon, so we should get accustomed to seeing a decline in newlisting data as the year heads toward its end.
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