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At HousingWire , we have a debate about whether home sellers will freeze up again this year as mortgage rates stay stubbornly high. We’ve had seller growth for 18 weeks in a row. More sellers means more sales. And as a result, as inventory builds , the sales growth trend shows signs of slowing. So that rule holds.
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.
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. Housing inventory climbed late in the year as mortgage rates rose.
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. That’s a 1.2%
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. It looks like this is evidence that housing markets are returning to normal rather than a case of sellers panicking, but it’s worth keeping an eye on.
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. We still see more sellers than last year. This the first inventory increase of the year.
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. There are still notably not a lot of sellers. But it is growing.
Check out these nine downloadable real estate prospecting letter templates to help you make an impression in your neighborhood or zip code. We negotiated to get the sellers the highest price possible. Even if you’re months or even years away from moving, a seller’s prep session is one of the services I offer homeowners.
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.
Building on existing relationships is the quickest and easiest way to keep your pipeline filled with active buyers and sellers, so you dont have to worry about dry spells. Your newsletter content should be a mix market updates, buyer and seller advice, community news and events, and storytelling.
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 is inching up. Sellers are coming back There are 499,000 single-family homes unsold on the market now. Each week, inventory is increasing just a bit relative to last year. There are slightly more sellers each week. Last year, was marked by how few sellers there were. Home sales are increasing every week.
That’s a swing of 17% fewer sellers in just a matter of days. What’s not measured in the FHFA paper is how by 2023, seller volume had already been declining for nearly a decade. In that period, we can see seller volume decreasing as more and more Americans had mortgages under 5%. This was a supply-constrained market.
Predictive analytics in real estate combines the use of historical data and algorithms to anticipate future market trends and identify potential sellers sometimes even buyers, too. Real estate agents can use this data to identify motivated sellers and people who are likely to buy a home. What does this mean for you?
As 2023 draws to a close soon, housing inventory has been rising very late in the year. Last year at this time, sellers and homebuyers hit the brakes hard. Watch the weekly housing market recap video above to get the latest housing market data download from Altos Research. This means inventory has (finally) peaked for the year.
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. There are more buyers than sellers. There are 8.8%
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 week sellers are easing back into the market a little more than last year. The last week of data for the year U.S.
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.
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.
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.
“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.
Follow this link to download a copy to your computer ( [link] ). Active listings also provide insight into current seller and buyer motivations. Conversely, months with noticeably lower transaction counts may point to slower market periods, such as the winter season when buyers and sellers are less active.
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.
Download the infographic here. It’s an ideal time for sellers to take advantage. Sellers who may have been reluctant to list in the past few years are now considering it. The fact that housing inventory is at record lows has driven up prices – and potential profits — by 14.1 Reading Time: 3 minutes.
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.*
During home shopping, most homebuyers want to know whether the current housing market is a seller’s market or a buyer’s market, along with how to get a good deal in a seller’s market. Buyer’s vs. Seller’s Market. Seller’s Market. What Is a Seller’s Market?
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. Many sellers are seeing homes “fly off the shelves.” Look forward to a lot less competition. This speeds up selling significantly.
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. Homeowners, sellers, and buyers will need to recalibrate their expectations. link] Full Transcript: 0:12 Sophie: All right.
That’s the question on every homebuyer and seller’s mind. ” 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. Download LoanFly. ( Reading Time: 3 minutes. Are we entering a housing bubble again?
To download the Fact Sheet (PDF), Click Here My comments: I would have never become an appraiser in 1975 without affirmative action. This may impact prospective buyers and sellers as we get into spring. The rate lock-in effect is also expected to cool off in the new year, adding more inventory to the market. Asian 1.8%
NOTE: Please scroll down to read the other topics in this long blog post seller concessions, all cash sales, liability, new fee survey, unusual homes, mortgage origination stats, etc European-Inspired $115M Bel-Air CA Mansion Dubbed ‘Villa Del Amor’ Excerpts: 9 bedrooms, 13 baths, 14,941 sq.ft.,
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. Chinese investors will probably turn net sellers of U.S.
The key to getting the best possible value for your money is understanding what’s happening in your local real estate market — whether you’re a buyer or a seller. What’s the Difference Between a Buyer’s and Seller’s Market? Buyer’s vs. seller’s markets are a matter of supply and demand.
Real estate investors who want to stay nimble in this market (especially as inventory stays low and prices stay meteorically high) need to adopt every tool at their disposal to stay informed and to quickly assess homes just entering the marketplace. Zillow: Know What the Buyers and Sellers Are Thinking Zillow is an industry staple.
Downloadable Guides. Click here to download the file. Click here to download the file. This seller’s market means you will have more power in selling your current home. Take inventory of all your belongings by categorizing them into certain groups, such as clothing, appliances, kitchen tools and toys.
If you don’t have time to watch the video, download the presentation slides and scroll through to see if there is anything you want to know about. The market is shifting from a sellers’ paradise to one where buyers can now start making a few demands of their own. That’s what I did. For more details and graphs, click here.
Find your buyer the right home Inventory is scarce, and will likely stay that way for a while. Online and offline resources are at your fingertips as a real estate professional, giving you more ways to find inventory outside of your MLS. Help buyers write a winning offer Understand what the seller wants beyond the asking price.
You’ll never want to negotiate a tough deal, ask a seller to reduce their price, call a FSBO or tell a buyer they lost a deal. Is inventory rising, falling or staying the same where you sell homes? The same people live in the same homes and there is virtually zero inventory. What should you know off the top of your head?
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JT offers an in-depth look at the market dynamics influencing buyers and sellers during this time of uncertainty, emphasizing the importance of timing and market conditions for those navigating today’s real estate challenges. For more updates follow Movoto on Instagram @movotorealestate or download the Movoto app.
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