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Despite the frequency of departures, real estate agents in the state say the housingmarket remains strong. On the balance, there are still more buyers with their eye on a purchase than there are houses on the market. Statewide, the housingmarket has a 90-day average Altos Market Action Index score of 44.18
As the year draws to a close, available unsold inventory of homes on the market is nearly 27% greater than a year ago. Almost every market in the country has more homes available now than at the end of 2023. Ten states have more inventory unsold than in 2019, which was the last sort of normal year before the pandemic.
All the housingmarket data for 2024 is in, and its fair to say that the housingmarket surprised us again! However, there are two big trends that stand out as we launch into 2025 affordability and sellers in the market. There are some signals that seller volume is starting to creep back to normal levels.
One reason that home prices have stayed elevated is that inventory nationally is still restricted. But if current trends continue, the inventory shortage will be effectively gone by next spring. In fact, while home prices are higher than a year ago, inventory has increased at the rate price appreciation has decreased.
Fluctuating interest rates have been a feature of the housingmarket over the last three years. As mortgage rates rose, homebuyer demand slowed and inventory grew. Our 2025 housingmarket predictions are based on the assumption that lower mortgage rates will spur demand and boost the number of homes sales transactions.
housingmarket is anything but stable right now and residents are feeling it. housingmarket using weekly data from Altos, which includes more than 60 different data points on every metro area in the country, to see how employment is changing the housingmarket. ’s job market. housingmarket.
What will the housingmarket look like in 2025? We already see many signals for what to expect, including last week’s data on inventory , new listings and price reductions, which I analyze below. For a more comprehensive look, read our 2025 HousingMarket Forecast covering home prices, home sales volumes and more.
Weve now been in the post-pandemic housingmarket recession market as long as we were in the pandemic boom. Does the housingmarket start to get back to normal? We know inventory has been climbing all year. But, the market change isnt evenly distributed. Inventory is growing Lets start with supply.
That’s 12% more sellers than a year ago. It seems more sellers are coming out every week and that will keep inventory pushing upward. Those scenarios are possible, and its going to be fascinating to see how the bond markets react to new administration policies. Sellers are up, but sales are down.
Rising housinginventory levels in 2024 may not be the positive sign of market health that they appear to be. High inventory levels contribute to another problem as active listings are remaining unsold for longer periods. The report focuses on homes that were on the market for at least 60 days at end of the month.
Timing is crucial in a difficult real estate market, and this year, the Realtor.com Best Time to Sell study indicates that the best time for sellers to discover the best balance of market circumstances is between April 13 and April 19. Reduced rivalry between sellers: This week would have 13.2%
Last year, spring home sellers who put their house up for sale in the second half of May were able to get the most money for it. Sellers can list their house when the most buyers are seeking by focusing on late spring. Sellers might demand a greater price when there is competition among buyers for property.
housingmarket has shown signs of slowing, demand remains strong in key Midwest and Northeast cities, where homes are selling weeks faster than the national average, according to Realtor.com s Hottest Markets Report for February. There’s just so many people here that are still looking for houses, Bradford said.
Despite 2025 housingmarket predictions changing fast , there are still key themes and trends for real estate leaders to watch to best serve their clients and business. HW: What housing trends do you think will continue in 2025 and why? JL: Housinginventory has been climbing in recent months.
The share of homes on the market with price reductions ticked up this week, which is unusual this early in the season. Potential home sellers notice weak demand, fewer offers and price reductions, prompting them to back away from the market. As such, housinginventory isn’t shrinking.
Its hard to imagine something more disruptive to a housingmarket than a hurricane. 9, housingmarkets in the Tampa area came to a complete halt as sellers took their homes off the market. 9, housingmarkets in the Tampa area came to a complete halt as sellers took their homes off the market.
Florida was one of the hottest destinations during the pandemic, but the states housingmarket might be coming down to earth. According to a report from Redfin, for-sale inventory at the end of January in Florida was up 22.7% Redfin attributes the rise in inventory to several factors. year over year. year-over-year jump.
If youre thinking about buying or selling a house and wondering about the housingmarket, youre not the only one. The real estate market has seen a lot of unusual trends in the past couple of years, so it makes sense that youd want the latest market update before you make any major decisions!
The housingmarket got some much needed relief in the fall when mortgage rates began to drop, but it was short lived. The turbulence in rates has trickled down to individual markets like Cincinnati, where real estate agents say they dont know what to expect from sale to sale.
Housinginventory, which saw an excellent pickup a few weeks ago, has been slowing down and last week we saw a slight decline. Has seasonality finally kicked in or did back-to-back hurricanes slow things enough to influence inventory data? Since then, inventory growth has been slowing down and even declined last week.
The housingmarket in Washington D.C. Sweeping cuts by Elon Musks DOGE agency have sent many government employees packing, while other staff need to find housing in the area to comply with return-to-work mandates. Will inventory levels skyrocket as federal workers leave? housingmarket. housingmarket.
Inventory of unsold homes on the market ticked down fractionally this week. Its not uncommon for January to have a little up and down in the inventory numbers. If inventory were jumping each week, that would be notable, but its not. At this time, of year theres new inventory and new buyers are shopping.
While the current focus is rightfully on containing the blazes and protecting residents, its worth taking stock of where housingmarkets stand in the affected parts of the Los Angeles metro area. Data from Altos Research shows an area with expensive housing, rising inventory and conditions that lean favorable to sellers.
But there may be some improvement on the horizon as newly listed home inventory grew 37.5% more homes were actively listed for sale on a given day in January, following a 15-month trend of higher annualized inventory levels. In total, inventory levels were 10.8% Only 14 metro areas surpassed pre-pandemic inventory levels.
The surge in first-time homebuyers during 2020 has led to a new trend: first-time home sellers. Many who bought during the pandemic are now rethinking their decisions, citing changing lifestyles, financial miscalculations, and shifting market conditions, according to new data from Opendoor. With the average U.S.
Zillow anticipates a more active housingmarket with more buyers obtaining the upper hand in 2025. More inventory should shake loose in 2025, giving buyers a bit more room to breathe.” In 2025, Zillow projects that buyer markets will expand to the Southwest as inventory continues to become stranded in reasonably priced cities.
Higher prices, higher mortgage rates and limited inventory are making for a slow market among buyers and sellers alike. Home sales in 2024 have been well below historic norms. But even investors have purchased fewer homes this year.
Existing home sales ended the year on a positive note , which aligns with our weekly HousingMarket Tracker data, but something surprising is that home prices firmed up late in the year as well. However, housing demand surged when mortgage rates fell in the early 1980s during a recession. A few key notes on the charts below 1.
Data from Altos Research shows that higher mortgage rates aren’t necessarily keeping sellers from listing their homes. For-sale inventory of single-family homes is up 33% from a year ago. The 15-year conforming rate has increased even more sharply since the Fed’s decision, rising from 5.7% 18 to 6.15% on Tuesday.
Redfin cited a number of reasons for this increase in the nations housinginventory, including: The mortgage rate lock-in effect is fading: A number of homeowners who scored low mortgage rates during the pandemic have been staying put because moving would mean taking on a higher rate. month-over-month, and 4.7% year-over-year.
We track inventory and home sales very closely, so the biggest surprise this year has been the resiliency of home prices. All the dominant trends in the housingmarket this year seem like they would indicate home prices declining. Inventory ticked down this week Inventory ticked down to 738,000 from 739,000 last week.
The spring housingmarket is still trying to spring. There are plenty of weak signals in the housingmarket, of course. There are plenty of weak signals in the housingmarket, of course. The unsold inventory of homes on the market across the country is 28% greater than last year at this time.
Active weekly housinginventory 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.
Inventory grew by almost 14,000 homes this week. Available inventory of unsold homes continues to grow but that growth in seems a bit less intense than it could be. Sellers can just wait it out, and it looks like the U.S. housingmarket is seeing that now. Inventory increases by 2.2%
This housingmarket is on hold until mortgage rates come down. Sales are slow, so inventory of unsold homes is building. Condo inventory is growing faster than single family. Some markets are much slower than others. Inventory is up There are now 632,000 single-family homes unsold on the market around the U.S.
The housingmarket in 2024 was about as frustrating for the real estate industry as you can imagine. Thats the highest share for new sales since 2005, which was during the building boom driven by cheaper housing, looser credit requirements and high demand for mortgage-backed securities. million and Bright MLS expecting 4.4
A large majority of homeowners (88%) have concerns about selling their homes, with financial uncertainty and housingmarket conditions ranking among their top fears, according to a recent survey by Clever Real Estate. These markets also have larger supplies of homes, with about 3.5
The hardest position to take in analyzing the housingmarket is one that is contrarian and bullish. When everyone knows that the housingmarket is sluggish and weak, but the data shows surprising strength. Inventory is past peak for the year, so the momentum looks to keep the trends in a positive direction for now.
Weekly housinginventory data Last week saw another slight decline in active listing and soon, the holidays will kick in. The seasonal decline is well underway, and it looks like the 739,434 level will be the peak of inventory for 2024. Weekly inventory change (Nov. Weekly inventory change (Nov.
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.
While inventory of unsold homes in the housingmarket in each of the last two years headed higher during September and October due to mortgage rate spikes, we’re seeing a more normal seasonal pattern now with inventory beginning to decline. In fact, for every two sales, there is another listing withdrawn from the market.
There are three big trends in the spring 2025 housingmarket: Supply continues to build. This is measurable in both the total unsold inventory and the number of new listings each week. There are more sellers each week, and there are more sales, but the supply side is growing faster than demand. Those do not seem imminent.
A major economic downturn (29%) is the most reported reason sellers would delay their plans, while a property tax increase (43%) would be the biggest motivator to expedite selling. !function(e,n,i,s){var months of housinginventory available, compared to the national average of just 2.8 initialized)window[d].process&&window[d].process();else
As high mortgage rates reshape the housingmarket, existing homes are making up a larger percentage of for-sale inventory, and homebuyers are taking notice. market share, while first-quarter 2022 saw a record high of 34.4%. The available inventory of existing homes rose by 22% year over year in Q3 2034.
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