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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.
As mortgage rates rose, homebuyer demand slowed and inventory grew. Is it pent up shadow inventory for people whove delayed moving for three years? Inventory growth speeds up due to new listings Available inventory of unsold homes also had a pretty big increase last week, climbing 2% to 656,000. Is it economic vibes?
Housing inventory, 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.
has experienced two decades of slow but steady housing market growth, paired with inventory growth that has suffered through both the Great Recession and the pandemic. In 2023, total inventory hit 144 million housing units, a 16.7% Americas Boomtowns: Which Cities Grew Housing Inventories the Fastest? increase from 2005.
Rising housing inventory 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. Redfin refers to these listings as “stale inventory.” ” According to the report, 54.5%
As the year draws to a close, available unsold inventory of homes on the market is nearly 27% greater than a year ago. Ten states have more inventory unsold than in 2019, which was the last sort of normal year before the pandemic. Inventory is still very tight in places like Chicago and New England, but it is rising in these markets.
And while the slower sales pace may not be great news for real estate professionals, it has resulted in an uptick in inventory , which is good news for homebuyers. For-sale inventory at the end of September was 1.39 month supply of unsold inventory, up from 4.2 million, up 1.5% from August and up 23% from one year ago.
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. Florida was one of the hottest destinations during the pandemic, but the states housing market might be coming down to earth. year over year.
“Despite higher mortgage rates in November and persistent affordability challengers, buyers took advantage of more inventory as pending home sales reached the highest level in nearly two years. Buyers appear to be done waiting for rates to fall, prompting them to enter the market to take advantage of higher inventory levels.
In order to alleviate some of the pressure on buyers, agents like JD Gieson would love to see more inventory come on the market. We have quite the shortage of available inventory and there is a surplus of buyers right now, and they just dont have a lot of options. There is no inventory, McCormick said. As of Jan.
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.
Redfin cited a number of reasons for this increase in the nations housing inventory, 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.
The second is in reference to housing inventory. Meanwhile, some analysts believe that hoping for a flood of senior-driven inventory to address the nations housing shortage is more akin to a pipe dream. The first is related to the demographic trends playing out across the U.S., housing shortage.
Will inventory levels skyrocket as federal workers leave? Weekly housing inventory ramps up What do we see in the data on housing inventory levels in the D.C. Weekly housing inventory ramps up What do we see in the data on housing inventory levels in the D.C. But inventory remains well below historical averages.
More inventory for boots-on-the-ground buyers Richards started investing in real estate in 2004 and discovered distressed property auctions in late 2019. Sims was able to sell the properties quickly thanks to the deep and wide pool of buyers using Auction.com, with its more than 7.4 million registered users.
Weekly housing inventory data Spring is finally here, and you know what that means it’s time for the usual inventory boost that happens every year! I have to say that the best part of the housing story in 2024 has been watching the active inventory try to get back to a more normal level.
Have we seen the peak in housing inventory for 2024? The best part about 2024 has been that higher mortgage rates have created an inventory buffer, so if the economy gets softer and rates fall, we have many more homes to work with than we had in 2020-2023. Weekly inventory change (Aug.
Weekly housing inventory 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.
Inventory continues to contract There are now 651,000 single-family homes unsold on the market across the U.S. Well see another week of inventory contraction this week with New Years mid-week. Some years, when demand is stronger, the available inventory of unsold homes keeps shrinking until February or March.
We track inventory and home sales very closely, so the biggest surprise this year has been the resiliency of home prices. Inventory ticked down this week Inventory ticked down to 738,000 from 739,000 last week. Our model had expected inventory to climb just a bit this week. They have not.
has focused on single-family and multifamily inventory growth to boost supply and affordability. But StorageCafe found that in 2023, most states overlooked one key solution to the affordability crisis: more inventory of “middle housing.” The report draws considerable attention to middle housing inventory growth.
Active inventory typically decreases at this time of year, but in 2024 it did not drop below 1 million. For me, the highlight of 2024 was the growth in active inventory. That situation is not present in todays housing market as active inventory is almost 1 million, not 4 million like in 2007. Also, the monthly supply is 3.3
Weekly housing inventory data As we enter the year’s final weeks, we usually see a drop in housing inventory. However, Im excited about the story behind the current market inventory has grown from the depressed levels we experienced in early 2022. Weekly inventory change (Dec.
Altos Research tracks every home for sale in the country every week all the active inventory and pending sales as they happen as well as prices and supply and demand metrics Lets look at this weeks data. Inventory fell There are 635,000 single-family homes unsold on the market now. In 2018, mortgage rates and inventory rose all year.
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. Housing inventory There are now 722,000 unsold single-family homes on the market around the U.S. Below is the 10-year view of inventory trends in the U.S.
Weekly pending contracts for the past week over the past several years: 2025: 288,605 2024: 297,402 2023: 283,689 Weekly housing inventory data The highlight of 2024 for me was the growth in housing inventory as we began to return to normal levels. Weekly inventory change (Jan.
It seems more sellers are coming out every week and that will keep inventory pushing upward. First thing to note is that California has very restricted inventory. Lets look at this weeks housing market data: Inventory dips Total inventory dipped this week to 624,000 single-family homes on the market. This week, 33.9%
Active existing inventory hit all-time lows after Covid , benefitting builders The homebuilders’ biggest competition is the active inventory from the existing home sales market. However, once mortgage rates rose in 2022, the active inventory of existing homes never returned to normal.
The unsold inventory of homes on the market across the country is 28% greater than last year at this time. Withdrawals keep a lid on inventory growth. That suggests a shadow inventory of homes that want to be sold but the market isnt there for it. Inventory of unsold homes is climbing. I dont see that happening now.
Sales are slow, so inventory of unsold homes is building. Condo inventory is growing faster than single family. Inventory is up There are now 632,000 single-family homes unsold on the market around the U.S. As I mentioned, inventory of unsold condos is growing faster than that of single-family houses.
Weekly housing inventory data The best story for housing is the housing inventory growth we’ve seen since the historically low levels we saw in 2022. Last week we had slight growth week over week, and we should be starting the seasonal increase in active inventory now. Weekly inventory change (Feb.
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.
As high mortgage rates reshape the housing market, existing homes are making up a larger percentage of for-sale inventory, and homebuyers are taking notice. The available inventory of existing homes rose by 22% year over year in Q3 2034. New construction inventory has grown in recent months. One year ago, new homes held a 30.5%
Recently, weve shared that the inventory of unsold homes is growing. There are already plenty of markets nationwide where the inventory of unsold homes has built up over the past few years and home prices have ticked down. And when we look at the supply data, supply of active inventory is continuing to grow.
In many markets, there was simply more new home inventory and some buyers who might have wanted to purchase an existing home were instead looking at new construction, said Bright MLS Chief Economist Lisa Sturtevant in a statement. Available new-home inventory is on a firm upward trajectory.
Inventory is past peak for the year, so the momentum looks to keep the trends in a positive direction for now. Inventory drops again There are 736,000 single-family homes unsold on the market in the U.S. The inventory peak came a month earlier than in 2023. Mortgage rates were super high and inventory was building.
Weekly pending contracts for the past week over the past several years: 2025: 312,742 2024: 325,054 2023: 310,134 Weekly housing inventory data The best story for housing has and will always be the housing inventory growth working from the historically low levels we saw in 2022. Last week showed mild week inventory growth.
Lets look at this weeks data, starting with the active inventory of homes for sale right now. Inventory Total available inventory dipped this week to 639,000 single-family homes on the market. During the second quarter last year, inventory rose quickly because mortgage rates rose quickly and peaked in May.
The worst of the downturn in home sales could be over, with increasing inventory leading to more transactions,” NAR chief economist Lawrence Yun said in a statement. Agents and consumers also have reason to celebrate due to rising inventory levels. Inventory was up 19.1% This also was a 2.9% from September and totaled 1.37
Demand for “have-it-all” properties and the “forever dream home” will shape this spring’s luxury housing market, according to the Coldwell Banker Global Luxury 2024 Mid-Year Trend Report , which forecasts growing optimism among affluent consumers and an influx of desirable inventory. of responding specialists agreed.
Housing market forecasters projected home prices to rise in 2025 because of limited inventory and the release of pent-up demand as mortgage rates moderate off their highs of the last few years. Inventory is jumping all over the country, including Texas and Florida, where single-family homes for sale are up year over year by 30.4%
As such, housing inventory isn’t shrinking. This indicates slow market stabilization and continued inventory growth throughout 2025. Fewer weekly sellers implies that well have a cap on inventory growth this year, even though demand is weak. Any inventory growth now is because demand is really weak.
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. There are 27.7%
Weekly housing inventory continues upward Is inventory in the D.C This week’s inventory data gives us a vantage point into this weeks market dynamics. Inventory for single-family homes in the D.C ’s inventory level compared to 2024. Data and common sense show that federal job cuts are stressing D.C’s
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