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Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The only way inventory would grow in 2024 is if mortgage rates climbed. But the evidence is the opposite.
And as a result, as inventory builds , the sales growth trend shows signs of slowing. We know that these higher mortgage rates are deterring buyers, and inventory is building. Will higher rates keep a cap on inventory like it did a year ago? Inventory is up in lock step. We’re at 19% year over year inventory gains now.
The longer we stay with mortgage rates higher, the more inventory will build closer to where it used to be. Higher mortgage rates means more inventory. If mortgage rates fall into the 5s this spring, you should expect the available inventory to decline as demand picks up rapidly. Inventory ticked up this week.
Last week, I asserted that housing inventory growth had finished for the year. This week, the available inventory of unsold single-family homes crept up minimally. Housing inventory inches up There were 570,000 single-family homes on the market, or 0.5% Turns out I was wrong! After all, more sellers means more sales in 2024.
Check out these nine downloadable real estate prospecting letter templates to help you make an impression in your neighborhood or zip code. Many of us are in sellers’ markets with very low inventory. Inventory is extremely low, and the competition is fierce. What a great way to receive referrals for life!
New listings and home sales remain low this week while available inventory of unsold homes is finally falling across the country after rising with mortgage rates late into November. It’s looking like we’ll end 2023 with higher housing inventory than this time last year. Inventory is 1.2% higher than last year at this time.
As 2023 draws to a close soon, housing inventory has been rising very late in the year. Watch the weekly housing market recap video above to get the latest housing market data download from Altos Research. Watch the weekly housing market recap video above to get the latest housing market data download from Altos Research.
Inventory is slowly but steadily increasing over last year, which means slightly more options for buyers this spring. Inventory ends higher The year finished with 513,000 single-family homes on the market. Each year that mortgage rates are elevated mean fewer people are locked in to low rates, so our resale inventory grows.
The inventory picture There are now 539,000 single-family homes on the market unsold, which is up 3.2% Housing inventory climbed late in the year as mortgage rates rose. Rates are falling now and if that continues, buyers will jump and inventory will fall well into the first quarter of 2024. than last year at this time.
Inventory is inching up. Each week, inventory is increasing just a bit relative to last year. Unless rates dip into the 5s, then I expect demand will pick up so quickly that inventory will drop again. Inventory growth is not spread across the country Inventory is climbing in the south and central US.
Available inventory of homes to buy follows a reliable seasonal trend with the low in Q1 and the high in Q3 of each year (except for the 2020 pandemic year). We include details of inventory changes and the relationship to interest rates in the sections below. Part of the home sales slowdown in 2023 was due to a lack of inventory.
Inventory is climbing vs. last year, and home prices have stayed flat for three weeks now. And as demand slows, inventory grows. Inventory is up over last year and is about to turn the corner and start climbing for the spring selling season, probably within a couple weeks. Is it too much inventory?
Inventory: Available inventory of unsold single family homes rose just a hair to 506,000. Inventory has been growing vs last year, but that pace slowed this week. Inventory growth stalled because new listings growth stalled. Download the free Altos eBook: “How to Use Market Data to Build Your Real Estate Business”
Inventory is declining for the holidays There are now 546,000 single-family homes on the market. Inventory is finally declining for the holidays. The last few months as mortgage rates rose, inventory rose too. Rates have stabilized, and inventory if falling into the new year. That’s 1.75% fewer than last week.
Inventory is rising across the country as home-buying affordability takes another hit. As demand slows, inventory grows. As a result, inventory is higher and future sales price indicators are also softer than they were a year ago. Inventory There are now 498,000 single-family homes available unsold on the market around the U.S.
As mortgage rates remain higher than last year, inventory is higher than last year as well. Higher rates equals higher inventory. Lower rates equals lower inventory. Spring buyers’ market It’s the spring buyers market and inventory is falling each week. And as a result inventory is rising over recent two years.
Each week — for several months now — inventory levels of unsold homes on the market has been expanding compared to last year. Even as inventory declined this week, it’s relatively growing compared to a year ago. This week, inventory fell by half a percent. That leaves 52,000 new listings unsold to add to inventory.
Articles about rates, housing inventory and inflation were among our most popular, including: Purchase mortgage rates fall same week as Fed rate hike New home sales make it clear, housing is in a recession The nation’s housing market is on a correction course.
I suspect if that happens we’ll see even more demand, with a strong pickup in home sales volume coupled with falling inventory levels, and a return to rising home prices. Inventory falls slightly When I say inventory would fall with falling mortgage rates here’s what I mean. That’s the active inventory across the country.
Agent advice and resources Redfin Housing market trends and reports, industry news, statistics, and downloadable graphs. Keeping Current Matters Content designed to be shared by agents, including downloadable graphics and charts, trends in the market, local market updates, industry news, and more.
A "glut" of agents, low inventory and a down market mean part-timers now make up the majority of real estate professionals, according to the Consumer Federation of America. What does that mean for clients — and for the industry?
With this week's half-percent rate cut from the Federal Reserve, agents are hoping sellers will finally get off the fence and loosen up some inventory to get the market moving.
The dynamic charts are downloadable and shareable for housing professionals to leverage in sales conversations, marketing collateral and on social media. In addition to real-time mortgage rates, we launched the Market Glimpse with housing inventory data powered by Altos Research.
Mortgage applications hit their lowest level since 1996, and lenders were faced with the compounding challenges of dwindling origination volume, soaring home prices, rising interest rates and inadequate housing inventory. While the challenge of low housing inventory persists across the country, I have a feeling loan officers will be busier.
In addition to limited inventory , rising rates and affordability constraints, mortgage companies have been challenged to keep up with changing borrower habits and preferences. Download our full What Borrowers Want eBook today. The mortgage industry continues to evolve, especially as the market shifts.
Market Pulse: Identify local market trends in real time with downloadable graphics to use in your marketing campaigns. The market trend evaluation tool tracks price changes and inventory levels while comparing it to buyer demand, allowing the user to gain insights into a property’s investment potential.
“At the end of the day if mortgage rates come down, I don’t just think that’s gonna solve the inventory problem right away,” said Ben Cohen, managing director at Guaranteed Rate. But a combination of factors – high home prices , lack of inventory , elevated rates — temper expectations for even a moderately strong year.
Then it gives the person the option of downloading my contact information right into their device. Another one I use is on the first page of my website at www.aspenappraisalservices.net , I have an icon that anyone can click on and download my contact information. Go ahead and try it. . You will see my page appear.
Follow this link to download a copy to your computer ( [link] ). For example, if many active listings are priced higher than recent sales, it may suggest that sellers are responding to increased demand or reduced inventory, which are key indicators of a market in transition.
From managing inventory and customer satisfaction to employee wages and rotating schedules, retail businesses have a plethora of logistics to monitor and maintain. Download the eBook. Simplify the busiest time of year for your retail business with digital forms.
A great skill to have for a real estate agent, or anyone in the real estate industry, is the ability to download sales data from your local MLS and import it into a spreadsheet program like Excel or Google Sheets. When learning a market it is very helpful to be able to perform an MLS search and download the data for analysis.
The unprecedented buyer demand of 2021 will likely be suppressed to some extent due to affordability concerns in some markets, and more housing inventory will most likely be available from both the existing homes and new construction segments.”. Free download: Are you investing in yourself and your appraisal career?
For more updates follow Movoto on Instagram @movotorealestate or download the Movoto app. First-time homebuyers have a slightly better chance with more inventory on the market compared to a year ago. 9:10 James: I’m mostly interested in mortgage rates and housing inventory. link] Full Transcript: 0:12 Sophie: All right.
Download the report , or read it below. Note that due to unprecedented conditions in spring 2020 (due to COVID restrictions) and tight inventory in spring 2021, the year-over-year numbers based upon paired sales in certain rapidly-rising markets (like Phoenix) may be overstated.
Download the report , or read it below. Note that due to unprecedented conditions in spring 2020 (due to COVID restrictions) and tight inventory in spring 2021, the year-over-year numbers based upon paired sales in certain rapidly-rising markets (like Phoenix) may be overstated.
Download Fannie Mae’s “Announcement SEL-2023-02: Selling Guide Updates” here. ” The report shows that prices have continued to trend downward due to persistent low inventory, decreasing market activity, and steadily rising interest rates. Read the full HousingWire article here.
Reading Time: 2 minutes Download the infographic here. Housing inventory is at an all-time low , sitting far below the 6-month supply required to support a healthy market. Look forward to a lot less competition.
Download the infographic here. The fact that housing inventory is at record lows has driven up prices – and potential profits — by 14.1 Compared to the bubble seen a decade before, housing demand is legitimately strong, and inventory is very limited. Reading Time: 3 minutes. Spring home sales should be speedier.
Download the report , or read it below. Inventory is increasing, and house prices are up against affordability constraints. The February 2025 Home Data Index (HDI) Market Report shows national quarter-over-quarter home price growth is at -0.2 quarter-over-quarter (QoQ) and rose 4.7% on a year-over-year (YoY) basis.
.” Yun said this in response to the high homebuyer demand and rising housing prices we’re currently seeing — which he blamed simply on a shortage of inventory. Home prices are climbing because of record-low inventory levels that can’t meet the needs of today’s buyers. Download LoanFly. ( It’s free.)
Download the infographic here. Moving right now, in particular, when mortgage rates are at record lows could provide you with more opportunities — expanding your price range and your options even while inventory is limited. Reading Time: 2 minutes. I love waiting to close on my dream house (said no homebuyer ever). We hear you.
Download the infographic here. Here’s an overview of why selling your house now may be optimal: Because inventory is so tight and demand is so high, buyers are competing for limited listings as homes fly off the market. Housing inventory still sits far below the six-month supply threshold required to uphold a healthy market.*
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