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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. These are unsold newlistings. The elephant in the room is affordability.
Federal Reserve Chairman Jerome Powell played the Grinch last week for the housingmarket, sending mortgage rates higher after his remarks at the Fed presser on Wednesday. Weekly pending sales The latest weekly pending contract data from Altos Research offers an exciting glimpse into the real-time dynamics of housing demand.
What will the housingmarket look like in 2025? We already see many signals for what to expect, including last week’s data on inventory , newlistings 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.
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.
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.
Weve now been in the post-pandemic housingmarket recession market as long as we were in the pandemic boom. As we look into 2025, the question everyone is asking is: Do we have a new era starting? Does the housingmarket start to get back to normal? Two and a half years.
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.
Home listings fell in neighborhoods hit by the wildfires, too. Listings slowed a bit in Februarybut not nearly as much as sales. There were 23 newlistings in the Palisades, down 12% year-over-year, and 46 newlistings in Altadena, down 6%. million in February, down 8% year-over-year. Home sales rose 6.2%
Zillow also reported that, after a tumultuous five years, many measures of the housingmarket are trending closer to historic norms. Notably, while the flow of newlistings to the market is still nearly 14% lower than it was before the COVID-19 pandemic, its much improved to compared to the deficit of 25% in March 2024.
Lets look at last weeks data and see if we can tease out the signals for impact on the 2025 housingmarket. Housing inventory It is December, of course, so inventory is falling for the season. There will be fewer homes on the market each week until February or so. Can there be too many homes for sale?
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. We’ve suffered, just like any other major market in the U.S., While the U.S.
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.
The more encouraging story, however, is that the spring season is shaping up positively for the housingmarket. Additionally, our weekly pending contract data and newlistings are trending positively compared to last year. Notably, purchase applications show growth both year-to-date and year-over-year.
Earlier this year, when mortgage rates soared to 7.26%, a cloud of worry hung over the housingmarket many feared that home sales would tumble in 2025, fueled by concerns about inflation and tariffs. housingmarket revolves around the direction of the 10-year yield. Only time will tell because, as always for me, the U.S.
Fluctuating interest rates have been a feature of the housingmarket over the last three years. Our 2025 housingmarket predictions are based on the assumption that lower mortgage rates will spur demand and boost the number of homes sales transactions. Were only two months into the new government policies.
The haunted house ride with the bond market and mortgage rates continued this week, but one housing data line hasn’t been spooked. Newlisting data appears unafraid of the mortgage rate ghost story over the last few months. They remain frustrated that the labor market is not breaking.
24): Inventory fell from 569,898 to 565,875 The all-time inventory bottom was in 2022 at 240,497 The inventory peak for 2024 so far is 739,434 For some context, active listings for this week in 2015 were 1,104,310 Newlistings data While active inventory didn’t rise, we did get a nice boost in newlistings this last week.
Prospective homebuyers have more options to choose from in the housingmarket, which could help spur sales this spring. Newlistings ticked up by 21% in February compared to last year, according to Zillow ’s February report. Newlistings rose 20% from January, and each of the 50 largest U.S.
One of my critical forecasts for 2024 was the growth of newlistings data and active inventory, even with higher mortgage rates. However, the newlistings data has slightly disappointed me. Newlistings data I am pleased that we’ve seen newlistings data grow year over year — it’s a big step forward.
Now that Thanksgiving is behind us and December is well under way, we can start looking ahead to the 2024 housingmarket. Newlistings 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.
Newlistings data has been moving lower over the last few weeks. But, we need to see more growth in newlistings data just to grow from 2023 levels. 2023 newlistings data was the lowest ever on record, so it’s already a low bar.
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 newlistings each week. Massive new taxes are being proposed, maybe they go into effect this week. Well, newlistings are climbing.
The housingmarket in the state of Florida saw higher median home prices, more real estate listings and a higher number of active listings during the month of January, according to data released Thursday by Florida Realtors , a state-based trade organization for real estate professionals.
housingmarket and that they need to be pro-housing again. Even with all the drama we have dealt with in 2022-2023, the housingmarket stayed intact and never broke. This is a big Merry Christmas gift for the housingmarket. Weekly inventory change : (Dec.15-22)
Both the weekly new contracts and all the homes in the contract pending stage are below last year. This housingmarket is on hold until mortgage rates come down. Newlistings lower than last week Inventory is building because of demand weakness, not because of supply growth. When will that be? I have no idea.
The last two years were the two lowest newlistings data years in history. Note: during the housing bubble crash years, this data line ran between 250,000-400,000 per week. However, the slowdown in price growth is a positive development for the housingmarket, which desperately needs it.
All the dominant trends in the housingmarket this year seem like they would indicate home prices declining. With just a few local market exceptions, home prices nationally will finish the year up again and will go into 2025 with some upward momentum. There were 60,000 newlistings unsold this week for single-family homes.
Can we now say that the housingmarket ‘s spring selling season is finally underway? Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. Again, I am a bit mindful here due to Easter.
The seasonal housing inventory bottom evaded us again last week as active listings fell and newlisting inventory decreased. Here’s a quick rundown of the last week: Active inventory fell 5,383 last week, and newlisting data is still trending at all-time lows in 2023.
housingmarket. more homes on the market now than a year ago. As we approach that threshold of old levels of unsold homes on the market, it raises those questions about home prices. Newlistings To get a lot of homes on the market though we need some sellers. Unsold newlistings amount to 4.8%
While assessing the full scale of the damage could still take months, the short-term effects on the two state’s housingmarkets were immediately visible — the markets came to a complete halt. However, newlistings snapped back sharply to 82 just a week later. 20, then bottomed out at 14 on Oct.
Does this indicate that the housingmarket is beginning to wake up just in time for spring? I’ve noticed that housing data tends to improve when mortgage rates drop from 6.64% to 6%, especially when I adjust for seasonal demand. ” Labor over inflation, anyone? Weekly inventory change (Feb.
The spring housingmarket is still trying to spring. Newlistings volume is trying to grow with its biggest week since September. List prices inched up for the week, though sales prices did not advance. There are plenty of weak signals in the housingmarket, of course. Each bar is a week.
The 2022 housingmarket was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. Housing recession. That would be a positive for demand.
The housingmarket welcomed the news of lower mortgage rates last week after four reports showed that the labor market isn’t as tight as it seems and that the fear of 1970s-entrenched inflation was a lousy narrative. Active inventory rose by 823 single-family homes and newlisting data is trending at all-time lows.
The 2023 housingmarket faced one of the same roadblocks we saw in 2022: mortgage rates were too high for home sales growth. Now that we’re in 2024, the Federal Reserve ‘s rate hike cycle is over, so let’s look at what that means for housing demand and home prices. What could make home prices decline?
The spring housingmarket music is playing, and purchase application data and active listing inventory rose together last week. Here’s a quick rundown of the last week: Active listing rose 8,260 week to week, down a bit from last week’s gain, but I’m not complaining — anything on the plus side is positive.
If we look at the housingmarket right now, sales are down, newlistings are down and prices are decelerating. Good inflation data came in last week, the bond market rallied and mortgage rates took a notable dip below 7% for the first time in months. If so, how should we expect the housingmarket to react?
Active housing inventory , thankfully, saw some decent growth last week. Here’s a quick rundown of the last week: Active inventory grew 8,914 week to week, even though newlisting data is still trending at all-time lows in 2023. The housingmarket moves with the 10-year yield , so watching this is critical.
This is truly a savagely unhealthy housingmarket as we have too many people chasing too few homes. The weekly active listing data had a rare week-to-week decline. The other big story in housing has been that newlisting data has been trending at the lowest levels recorded in history for 12 months.
Our Immediate sales measure of homes that get listed, take offers and go into contract in a few days is also notably lower than last year. On the supply side, newlistings are slightly more than a year ago, but pulling back. If fact the “coming soon” pre-listings are now running behind last year by 5%. That’s up 1.3%
It was a wild ride for the housingmarket last week! Newlistings data fell, however, active inventory grew. Here’s a quick rundown of the last week: Total active listings grew by 3,809 weekly, but newlistings are still trending at all-time lows. Purchase application data fell 4.8%
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. Newlistings rise There were just under 61,000 newlistings unsold this week.
There were 45,000 newlistings for single-family homes across the country this week, which is a big jump. Over time, our job at HousingWire will be to help everyone understand the market and financial impact that we can measure. Newlistings jump The supply story in real estate must take into account the new sellers each week.
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