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Housing Wire
MARCH 11, 2024
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.
Housing Wire
NOVEMBER 20, 2023
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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Housing Wire
JANUARY 16, 2024
Home sellers are starting to ease back into the market, new listings are finally exceeding the levels of a year ago. 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. Inventory ticked up this week. It’s not a boom.
Housing Wire
DECEMBER 4, 2023
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% housing market in 2024.
Housing Wire
JANUARY 22, 2024
Those metrics, specifically the pace of new listings and new sales contracts, slowed this week. Our immediate sales metric of homes that get offers within a couple days of listing also slowed. New listings and new contracts both still show a bit of improvement over 2023, but the growth rates have slid back down.
Housing Wire
JANUARY 8, 2024
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.
Housing Wire
MAY 15, 2024
After an initial rush to get to market in Q2 2022, new listings volume fell precipitously. In July 2022, new listings volume per week dropped from 90,000 at the end of June to approximately 74,000 just after the July 4th holiday. We see the same pattern in the new listings rate each week.
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