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This unexpected turn of events breathed new life into the market, pushing purchase application data into positive territory for the year. I wholeheartedly believed that newlistings would hit at least 80,000 during the season’s peak weeks this was the norm before the pandemic shook things up.
If mortgage spreads had not improved in 2024, our discussions about housing would be quite different today especially considering the events of last week. Over the last five years, weekly ranges of newlistings fell between approximately 30,000 and 90,000. Weekly inventory change (Dec. I still consider this a positive outcome.
A substantial drop in newlistings is a contributing factor. 1, weekly newlistings were at 410 but have since dropped to 186, although newlistings tend to drop in December as the holidays approach.
Newlistings on trend Nationally, there were just 31,000 newlistings for single-family homes from the last week which included Thanksgiving weekend. Hard to say, but like the slight growth in newlistings, seeing a slight growth in home sales is an optimistic view of the housing market.
We have had two historic events that created a waterfall dive in demand recently; we now have precise data showing newlisting data declining with those events, which shows how important that data line is to housing demand. Hopefully, a more stable mortgage rate market means newlisting data can grow in 2023.
Despite a small spike in recent months, newlistings of homes for sale are still below pre-pandemic levels in parts of the country because the majority of homeowners say they will never sell. Some 31% fewer homes were sold this year than in the previous pre-pandemic year in 2019 (36 of every 1,000) An estimated 37.5%
I have been slightly disappointed in the newlisting data only because I was sure we would get a print above 80,000 this year and was hoping for a range of 95,000-110,000 in the peak seasonal period. Remember, for next week, newlistings data will take a Memorial Day hit lower as it does each year, and then it rebounds.
While I didn’t get my minimum target of 80,000 newlistings during this year’s peak seasonal weeks, I am pleased we saw growth. I did get a bit excited two weeks ago with the pick-up of newlistings as mortgage rates fell, but we didn’t get as good a follow-through this week. Weekly inventory change (Aug.
While weekly inventory is still falling, we have year-over-year growth in total active listing and newlistings data. For the first time in a while, this was a good week for newlisting data. Last week was very interesting because we had a few Fed events to deal with. What is all this data pointing to?
This isn’t saying too much since 2023 had the lowest recorded level of newlistings ever, but it’s still a plus in my book. This week’s growth makes more sense with the data we have had over the past 14 days. 2022: 19.2%
If the client is looking at a specific neighborhood, follow up with them whenever you get a newlisting in that area. It can also be quite valuable to hold these events on Zoom or through social media platforms. Are they looking to invest in an income-generating property? You can also mirror their level of responsiveness.
Newlistings within both property types fell sharply from the same period last year,” said study author Jonathan Miller, “keeping upward pressure on prices.”. Exclusive access to the HW+ Slack community and virtual events. Of those 12 homes purchased, 10 cost at least $5 million. This content is exclusively for HW+ members.
Some popular real estate newsletter content includes: Market updates Featured listings Industry news Local news Community events Agent profiles Investment opportunities No matter what content you choose to include, your real estate newsletter should serve as a meaningful touchpoint that continuously builds your client relationships.
Things are hapenning fast with mortgage rates, which is why I update HousingWire’s Mortgage Rate Center page with analysis every weekday morning — looking at how the bond market reacts to economic data or an event that can move rates. Last year, it was savagely unhealthy that newlistings data was trending at the lowest recorded levels.
25 -Sept 1): Inventory rose from 503,924 to 509,562 The all-time inventory bottom was in 2022 at 240,497 The yearly inventory peak for 2024 was last week at 704,744 For some context, active listings for this week in 2015 were 1,204,810 Newlistings data Newlisting data is experiencing its traditional seasonal decline.
Mortgage spreads were a negative storyline in 2023, as the collapse of Silicon Valley Bank and the resulting banking crisis pushed them to new cycle highs. We haven’t had any banking crisis events this year, and the Federal Reserve is starting its rate-cut cycle soon. Weekly inventory change (Aug.
Members of the MLS added 10,428 newlistings to supply in October, up 24% from last year, but pending home sales were only at 11,039. HW+ includes weekly long-form digital content, HousingWire Magazine, access to HousingStack, and free admission to all HousingWire virtual events. Join today with an HW+ Membership !
Here’s a quick rundown of the last week: Active inventory grew 3,180 weekly , and newlisting data fell week to week and is still trending at an all-time low in 2023. However, I am grateful we even saw some traditional spring inventory growth this year because newlisting data is trending at all-time lows.
We saw some good growth this week, and hopefully, in 2024, we can close the gap and get back to 2021-2022 data on newlistings. That is the critical period for newlisting data to grow; remember, most sellers are buyers. Weekly inventory change (Nov. 10) : Inventory rose from 566,882 to 566,941 Same week last year (Nov.
Inventory, NewListings and Pending Sales Overview Newlistings increased by 7.9% more newlistings compared to last year. Newlistings are still 23.3% Inventory (the number of listings active at any time during the month) in May increased by 7.4% The typical mortgage payment is up 11.3%
However, the real positive story here is that even with newlisting data trending at an all-time low, we are getting the growth in active listings we traditionally see in the spring and summer. In addition, newlisting data turned negative year over year after the second half of 2022.
These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. Active inventory fell 1,109, and newlisting data made a lovely comeback week to week but was still noticeably down year over year.
housing market , we just experienced an event that most people never thought could happen. During that period, we saw newlisting data decline. However, in 2020 newlisting data came back, and we don’t want to see the newlistings continue to decline this year — that would be a double negative for the housing market.
Active housing inventory grew while newlisting data fell. Newlistings data is another big story with housing inventory. Since the second half of 2022, it has been trending at all-time lows This trend has continued all year long, so we have limited new housing to work with.
Given our current economic data and without a new critical global event, this range should stick. Weekly newlisting data for the last week over several previous years: 2024: 59,243 2023: 50,687 2022: 59,661 For some historical context, newlisting data this week in 2011 was 362,248.
Summary Planning your open house Marketing your open house Hosting your open house Open house follow-up ideas The full picture Open house ideas: Planning your next event Not every one of your clients wants or needs to hold an open house, but you can certainly play up your open house events to help you reach your real estate career goals.
Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the data 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. Currently, 33.9%
metropolitan areas in February 2022, based on year-over-year growth in median listing price according to the residential real estate listing website, Realtor.com. The table also reports the year-over-year percent change in newlistings for each market. Table 1, below, reports the 10 hottest U.S. Bellingham, WA 51.7% -8.3%
Script 3: Engage with expired listings Hi [Name], I saw your home is no longer on the market. Script 4: Market update for sellers Hi [Name], I’m hosting a free event on the latest market trends for sellers. Script 8: Newlisting on the market Hi [Name], I just found a listing that fits your criteria perfectly!
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. months nationally.
The number of newlistings coming on the market this spring is lower than it has been in more than a decade. Sales and new pending contracts are below pre-pandemic levels. After this series wraps, join us on May 30 for the next Housing Market Update Event. Selective sellers. Who is selling right now?
If I am wrong and mortgage rates go lower for longer and we don’t get more newlistings in 2024, then home prices can grow faster in 2024 because we will have the same issue as before: too many people chasing too few homes. We haven’t had newlistings data break over 90,000 in the peak seasons of 2021, 2022 or 2023.
UPCOMING (PUBLIC) SPEAKING GIGS: 01/31/24 Joel Wright & Mike Gobbi Event 9am (on Zoom here) 02/01/24 Gateway Event (private) 2/09/24 PCAR WCR Event […] The post The spring housing market is waking up & random stats first appeared on Sacramento Appraisal Blog.
Existing home sales have more legs to go lower, especially now that newlisting data is falling. A traditional primary resident seller is also a buyer, which means if they don’t list, they’re not just taking a potential home to be bought off the table — they’re taking a future sale off the books as well. million in August.”
It was a very negative story in 2023 when newlistings were trending at the lowest levels ever recorded in history Newlistings data for last week: 2024: 45,284 2023: 39,613 2022: 34,973 Price-cut percentage In an average year, about one-third of all homes experience a price cut, a standard occurrence in the housing market.
He also makes note of a common interest rate system in which negative economic events would cause interest rates to drop, but now a positive global picture would lower rates instead. Unemployment, job losses and foreclosures are going to drive newlistings, more listings, lower prices, and more buyers come to bat.”
But, the really painful trend is newlistings data. Newlistings data is trending at the lowest levels ever recorded in U.S. Last week there were only 62,000 newlistings that came to the market. The newlistings data trending at all-time lows does not help that at all.
Newlistings and pending home sales data from Altos Research captured the housing markets around Asheville coming to a screeching halt. Altos Research data shows that, as was the case in Asheville, newlistings and pending home sales in Tampa have fallen off a cliff since the storm’s formation.
Weekly housing inventory decreased by 6,801, while newlisting data is still negative year-over-year. We have had three abnormal events in housing since 2020 that have all happened toward the end of the year, which has moved the timeline for the seasonal bottom in housing inventory. Weekly inventory change (Feb.
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. It facilitated a very unhealthy housing market in 2020-2021 that became savage in 2022.
70 towns, 90 newlistings Local agents say the county’s tight inventory situation is largely to blame. “We We have been complaining about the lack of inventory for as long as I can remember, but then we at least had more listings,” Danny Yoon , an Edgewater, New Jersey-based Sotheby’s International Realty agent, said.
So the fact that housing demand stabilized and inventory is now negative year over year needs the context that 2022 was a once-in-a-lifetime event. The other big story with housing inventory is that newlisting data has been trending negative year over year since the end of June 2022.
Canva is perfect for everything from newlistings to brand promotion. Luma Luma is an iOS app and event page manager that features SMS invites, QR code check-ins and even weather forecasts, helping you make event organization rather seamless. You can start for free and explore premium features for more advanced options.
This process can include a variety of strategies and methods, such as cold calling, direct mail campaigns, online advertising, social media marketing, community engagement, and networking events. Agents can build a mailing list by offering valuable resources like market reports or home valuation tools in exchange for contact information.
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