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Altos: Housing inventory could grow 40% this year

Housing Wire

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.

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Inventory is 19% higher than a year ago: Altos

Housing Wire

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.

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Signs point to more inventory this spring: Altos

Housing Wire

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.

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Housing inventory is seeing unusual gains in November. Should we be worried? 

Housing Wire

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.

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Download these 9 real estate prospecting letter templates that actually work

Housing Wire

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!

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Promising signs abound for 2024 housing market

Housing Wire

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.

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Is the housing market finally turning a corner?

Housing Wire

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.