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Altos considers anything above 30 to be indicative of a sellers market. If all economic factors, political factors and world events are fine, we just kind of flatline. In order to alleviate some of the pressure on buyers, agents like JD Gieson would love to see more inventory come on the market. as of Jan. a year ago.
We know inventory has been climbing all year. The northern cities have tight inventory and rising prices, some of the Sunbelt cities have the most inventory in many years, and some markets even have falling prices, too. Inventory is growing Lets start with supply. Inventory shrank every year for most of the decade.
Jessica Lautz, deputy chief economist and vice president of research at the National Association of Realtors and upcoming speaker at the Housing Economic Summit, sat down with HousingWires Senior Director of Events Brena Nath to answer a few questions on what she thinks is to come for real estate in 2025.
There’s a showdown at the housing market corral between homebuyers and sellers. When I came up with the “ savagely unhealthy housing market ” label in February of this year, it was based on the premise that the housing inflation story that we have had to deal with since 2020 was a historical event. million today.
Active weekly housing inventory growth slowed slightly last week, but it’s still running at a healthier clip than in 2023. I have a simple model with mortgage rates being above 7.25%: weekly inventory data should grow between 11,000-17,000 per week. We have now seen it for two weeks as inventory grew by 13,247. 2022: 19.2%
Its a symptom of a market thats transitioning away from sellers. According to data from Altos Research, for-sale inventory has risen from 1,864 on a 90-day rolling basis in May to 3,019 today. Altos considers anything above 30 to be indicative of a seller’s market.
Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for this year, along with a roundtable discussion on how these insights apply to your business. The event is exclusively for HW+ members , and you can go here to register.
With Q4 in full swing, many realtors are seeing buyers and sellers paralyzed by high interest rates and stagnant inventories. Shallis, with over three decades of experience in the real estate industry has helped realtors, buyers, and sellers navigate all types of market conditions.
Economic uncertainty also plays a role in sellers’ hesitation, with 29% saying they would delay selling in the event of a major downturn. months of inventory at the current sales pace compared to the national median of 2.8 And 30% of this group expressed concerns about losing their current rate if they sell their home.
On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. million in January down to about 4 million in December, We now have total inventory levels near all-time lows again. In one of the most historical years in the U.S.
Total housing inventory growth has been slow in 2023, but with rising mortgage rates over the last few months, inventory has grown a bit faster than average. The question now is: Have we hit the seasonal peak in inventory for 2023? Last year, according to Altos Research , the seasonal peak for housing inventory was Oct.
Bringing together some of the top economists and researchers in housing, this event will provide an in-depth look at their latest insights on the housing market, along with a roundtable discussion on how this information applies to your business. To register for the HW+ event, go here.
Housing inventory increased by 1,339 homes nationwide. The weekly inventory data, which had fallen faster than I had anticipated the last few weeks, has now seen a slight uptick. Weekly housing inventory. Hopefully, we see a continuation of this inventory pick-up next week and this isn’t just a one-week blip.
For-sale inventory is at record lows. Given recent events, they’re not sure about the future of their jobs, their children’s school arrangements, or their health, so making a big change like moving? A whopping 63% of sellers are also buyers, which poses yet another concern. But existing homes? Those are another story.
Home sellers are returning to the market, but buyers are hesitant, according to a recent Zillow market report. Inventory, New Listings and Pending Sales Overview New listings increased by 7.9% Inventory (the number of listings active at any time during the month) in May increased by 7.4% Inventory levels are 33.8%
Compass says that the listings protect home sellers against negative insights, such as days on market. Regardless, the three-phase market plan is building an inventory of listings that Compass can use for true exclusives should it succeed in its quest to topple NAR’s CCP.
Housing inventory finally broke under 2022 levels last week. Since May 15, that trend has continued to the point that inventory in America is now negative year over year. 9, 2022, and today you can see the final result of that dynamic shift as inventory is now negative versus the 2022 data — all before July 4th.
With economists, analysts and industry leaders in the room, discussions revolved around key economic indicators, inventory shifts, technology advancements and what lenders should be doing right now to prepare for the next cycle. Traditionally, home sellers were also buyers, which kept the market moving.
It proposed on Friday a compromise on CCP that it believes respects seller choice, enhances competition and safeguards MLS integrity. Proponents believe CCP maximizes the reach of a listing and is thus in the best interest of the home seller.
Summer is here, and housing inventory is finally growing! The spring housing inventory was like a zombie rising from the grave, very slow, but the summer is showing some promise and let’s hope it continues. Here’s a quick rundown of the last week: Active inventory grew 8,886 weekly.
Even though sellers’ median valuations in each of these housing markets grew by an astounding 40% or more over the previous year, only one market, Panama City, Florida, saw a year-over-year increase in the number of homes newly listed for sale. The end of seller speculation in the housing market is long overdue and welcome news for buyers.
With low housing inventory nationwide, agents are using innovative ways to find real estate seller leads and convert them into listings. To help you snag more listings, we updated our list of proven strategies to win more real estate seller leads in 2024. If you want a shot at generating seller leads online, you need one, too.
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.
In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! Plus, available housing inventory remains near historic lows.” ” One of the housing economic realities that I have been trying to stress this year is that a traditional seller of a home is typically a buyer as well.
When COVID-19 happened, some sellers were able to sit back and watch the market. It was just a matter of weeks before the buyers returned and sellers sold their homes, leading home sales to get to pre-cycle highs in 2020 and 2021. And then home prices took off , and total inventory levels dropped toward all-time lows.
Lack of inventory is an issue builders and mortgage loan originators alike are dealing with across the nation. The inventory put a cap on how much business Marquis’ team can do, which is one of the reasons why Marquis is now licensed in 22 states. In our market here in Boston, we have incredibly low inventory.
Going more in-depth than a Fed meeting, our virtual Housing Market Update event provides you with the strategy-building insights needed to operate in 2024. Register for the virtual event on Dec. Consumers will reset their expectations, and as rates move lower, there will be both more buyers and more sellers in the 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?
For months I have been saying we were going to have challenging comps from October to January because last year at this time mortgage volume was rising — a rare event this late in the year. These were forced credit sellers, which means these sellers don’t sell to buy a home like a traditional seller does.
After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business.
Homebuyer traffic will increase in 2024, fueled by lower mortgage rates and more existing-home inventory. At the same time, both buyers and sellers will have to reset expectations next year for persistently higher mortgage rates and more negotiations during the transaction.” Existing-home inventory will grow to 1.3 to $394,200.
After the series wraps, join us on May 30th for the HW+ Virtual 2023 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business.
Simonsen asserted that monitoring changing data points on a daily and weekly basis — including inventory levels, new and pending home sales, and home price data and signals —can help to more efficiently track the impact of mortgage rates. “I He began by looking at fresh inventory data. He began by looking at fresh inventory data.
Altos considers anything over 30 to be a seller’s market. Local agents attribute at least some of the market’s hotness to the inventory situation. According to Chip Stella, the director of brokerage at New England based LandVest , interest rates are to blame for the lack of inventory. “I We’ve got this total rate-lock event.”
This gave sellers the upper hand, but the market has turned in recent months. This has taken power away from sellers, who now face a shortage of potential buyers. Inventory in the city has also risen sharply, giving buyers more options and more leverage in negotiations. People still need to upsize or downsize.”
On the other hand, inventory is still low, and homes are still selling fast, often with multiple offers. Inventory has increased from a year ago but in most markets, it is still well below pre-pandemic levels. Bright MLS’ recent survey showed that sellers in the Mid-Atlantic received an average of 3.4 Selective sellers.
Many homeowners choose to sell because of major life events, such as a marriage, a new child, a new job, or a divorce. The lock-in effect is still real but listings are starting to tick up Declining mortgage rates appear to have helped the inventory situation somewhat. Others simply want to move to a different house or city.
After the series wraps, join us on February 8 for the HW+ Virtual 2022 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business.
Inventory is still low and that’s exactly why it’s important to target the sellers who are more likely to move. To find the listings right now you need to find the sellers that have to move. To find the listings right now you need to find the sellers that have to move. Who are the must sell sellers?
But, there is one bright spot — inventory is rising. This has been a concern of mine after the summer of 2020 as inventory levels were breaking all-time lows, facilitating unhealthy home price growth during a more prominent demographic patch in U.S. The one positive: Inventory is rising. Once total inventory levels reach 1.52-1.93
housing inventory so tight right now, how can vacant properties play a role? Brian Cullen: Vacant properties hold the potential to provide significant relief to today’s inventory challenge. Many of these properties can be repaired and listed for sale, resulting in increased inventory, and relieving some of the current pricing pressure.
In certain neighborhoods, such as Coconut Grove and Coral Gables, we’re at 25-year lows in inventory, with buyer demand I’ve never experienced.”. There’s plenty of advice available to help buyers and sellers navigate the current housing market. Exclusive access to the HW+ Slack community and virtual events. for $895,000.
Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for this year, along with a roundtable discussion on how these insights apply to your business. The event is exclusively for HW+ members , and you can go here to register. most likely by mid-year.
After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business.
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