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Mortgage spreads refer to the difference between the 10-year yield and the 30-year mortgage rate. Inventory is making a strong effort to recover after the challenges of the past five years, even with record-low sales. Weekly inventory change (Jan. 31-Feb 7): Inventory fell from 634,979 to 632,367 The same week last year (Feb.
While they previously accounted for only 2% to 4% of listings, that share surged to nearly 8% of newlistings by February 2025. Office exclusives, also known as private or pocket listings , refer to residential properties that are marketed privately rather than being broadly shared through the Multiple Listing Service (MLS).
The recent move lower in rates is a good thing for housing “The American public just isn’t into the Fed’s housing policy,” he said on CNBC, in reference to homeowners who are not listing their property on the market. However, he noticed another notable decline in listing since mortgage rates really peaked above the 7% range.
Weekly housing inventory data My favorite housing data line for 2024 has been seeing the increase in inventory year over year. I firmly believe that housing inventory can grow over time when mortgage rates increase and we see weakness in demand. Here is a look at inventory last week: Weekly inventory change (Feb.
Weekly inventory fell by 6201 , and newlisting data is down noticeably from last year, which was different than last week. The 10-year yield, already at a key critical level, couldn’t break higher but reversed and went lower Friday after the jobs report and the news around Silicon Valley Bank. million in 2023.
Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory? Weekly inventory increased by 1,734. Newlisting data collapsed, but we are putting an asterisk on that data line for this week.
Researchers used Harvey, Irma and Ida as references for prior hurricanes and their impacts on the RMBS market. Insurance and inventory An alarming statistic is that most homeowners in these areas are not insured by the private insurance market or by the National Flood Insurance Program (NFIP). Across the 100 largest U.S.
” Newlistings of homes for sale were down 12% from the same period in 2019, and active listings — the number of homes listed for sale at any point during the period — fell 49% from the same period in 2019. 2019 is being used as a reference point since 2020 data is skewed by the pandemic.).
I included condos here so you can see the total sales pace I’m referring to. With 80,000 to 90,000 new contracts starting each week, that translates right into 4.2 Inventory There are now 479,000 single-family homes on the market across the U.S. Each year, housing inventory typically peaks in the third quarter.
The past year and a half, with its rising mortgage rates , low inventory, and economic uncertainty, has been a challenge for real estate pros, not to mention the buyers and sellers they serve. Make sure you’re ready to share newlistings and that potential clients can easily contact you through your platforms.
So we can’t reference this period of time with rates falling as we did the previous expansion due to the massive increase in home prices and the bigger mortgage rate move. We see some of this in the active listing data as newlistings are declining. Traditionally, total inventory ranges between 2 to 2.5
Once a lead is input into its CRM, Zurple sparks conversations via text or email with your leads from all sources, and alerts them to newlistings in their area of interest. That’s good news for real estate agents and brokers looking to attract leads.
When you ask the housing crash addicts why their home-price forecasts don’t work, they usually say we should adjust home prices to inflation, gold prices, or some other silly historical reference that doesn’t apply to modern-day economics. This group is simply a cult, and their X accounts have been wrong for the last 13 years.
The number of newlistings has decreased but so has the number of pending sales, which means that inventory is lingering longer than it has been which is a positive sign for buyers. Therefore, buyers need to capitalize on the higher inventory while the iron is hot, as it’s going to be the best time to buy in two years.
The recent development of lower mortgage rates coupled with increasing inventory is a powerful combination that will provide the environment for sales to move higher in future months,” Lawrence Yun, chief economist for the National Association of Realtors® said in September. The number of Active listings is another eye-opener.
With listings down, we are likely to see pending sales down as newlistings indicate future accepted offers. The first half of every year back to 2019 had lower inventory that the prior year, and May of 2022 is the first time we can see a significant turn in the upward direction. over this timeframe in 2021.
The category “supernova” refers to the speed at which this growth occurs. These trends in time spent on the market and housing inventory show that homes in Raleigh will continue to be in high demand throughout the year. 4,840 new apartments were constructed in Raleigh throughout 2021. is renter-occupied.
Both inventory levels and newlistings increased significantly in recent months, leading to an 18 percent increase in sales and a 1.6 Both inventory levels and newlistings increased significantly in recent months, leading to an 18 percent increase in sales and a 1.6 A good time, while business is slow.
The drop in early 2020 sales due to low winter inventory and then the pandemic made it easier for 2021 to outperform in that time frame. Homes Listed – All of NH. Newlistings in 2021 followed a less treacherous trendline in 2021 than 2020 but still couldn’t quite keep up with pre-pandemic markets. and by 23.5%
MORE INVENTORY IS CHANGING THE VIBE: We are no longer at pandemic lows. We are seeing more newlistings across the country, and it’s something we’re also seeing locally. Listings have increased much more in portions of Texas and Florida especially, so it’s important to recognize the trend isn’t the same in everywhere.
The present bill also refers to requirements for data collectors established by the Appraiser Qualifications Board, which do not exist. Other sources of housing data are showing increases in newlistings, which is a real positive for the spring buying season given the lack of for-sale inventory.”
Now you may think I am referring only to homeowners, as in did they miss the peak of the market to sell their home at top dollar. Newlistings are up 6.3% Condo sales are in a similar boat, with newlistings higher – by 4.3% Inventories improved fractionally. 1 vs. Sept. There is now 0.7 months, up from 0.5
The King County housing market has seen inventory increase by 55% in the past month, while the number of homes going under contract fell 22% from May to the lowest June level since 2011. A property lease-up refers to the time between the announced launch of a new apartment and 6-12 months after opening.) for the last 12 months.
Always know the following: Is inventory increasing or decreasing in your market? List to sell price ratio? . Practice pricing property This is a key skill to practice regularly, not just when you have a newlisting opportunity. Follow up immediately with all leads you generate or who are referred to you.
>> The lack of inventory to keep real estate moving is confirmed with the latest data on U.S. The excess of inventory that occurred in 2007, 2008 and ’09, was an anomaly,” said Marci Rossell, former chief economist for CNBC. Compare that to the end-April total of 4551 Active listings for the two counties, as well as 0.6
With record-low inventory nationwide, real estate agents seem to be hearing the same thing day in and day out: “I’d list my home, but where would I move?” For most agents, that’s the end of the conversation, ending the possibility of taking a newlisting as well as facilitating the buyer side. You have to ask!
Secret #2 Sometimes, especially in a low-inventory market, your potential seller client may know about comparable sales you didn’t capture. If you’re showing your newlisting versus its competition, do you look priced right , overpriced or priced so well you’d be dying to write an offer and snap it up?
Prices have soared in most areas – including a 30% jump in the past year for single-family homes in King County – amid a shortage of inventory and a sharp rise in the number of buyers. The spring season is nearly over and the number of listings hitting the market has already started to decline, a few weeks earlier than most years.
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