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Housing inventory defied all predictions in 2023

Housing Wire

Going into 2023, people thought housing inventory would skyrocket, home prices would crash, and we would see the housing market of 2008 all over again. Looking back on 2023, the inventory story was a big surprise even as mortgage rates headed toward 8%, as the data below will show. This year’s peak was Nov.

Mortgages 492
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You can’t buy what’s not for sale in the housing market

Housing Wire

And there’s another thing that separates the housing market from other markets — the buyer is often also the seller. From the year 2000 until the start of the pandemic in 2020, existing-home inventory made up nearly 90% of total home inventory. And, unfortunately, sellers are not selling in today’s higher mortgage rate environment.

Sales 352
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Better inflation data won’t sway the Fed

Housing Wire

The Consumer Price Index data released Wednesday showed again that the breakaway 1970s-style inflation is not happening, even with an expanding economy and an unemployment rate under 4%. Pivoting doesn’t mean they’ll cut rates, it just means they’ll change their language describing the economy.

Mortgages 370
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Pending home sales shock 2021 housing crash bears

Housing Wire

Like I have often said, professional grifters have plagued the housing sector for many years and shouldn’t be looked to as fundamental economic sources of information. economy, know that I won’t lie to you for clicks; it will be based on boring economic models that are back-tested in time and adjusted for new variables 24/7.

Sales 528
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Has the housing market peaked?

Housing Wire

This article is part of our housing market update series. It’s not time to sound the alarms, and there’s no indication that another housing market crash, circa 2008, is about to happen, but there are signs and signals everywhere suggesting that the decade-long boom in home sales may be running out of steam.

Marketing 368
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Logan Mohtashami on why this is a savagely unhealthy housing market

Housing Wire

In this HW+ Slack Q&A , Lead Analyst Logan Mohtashami gives the inside scoop on where rates are headed, whether or not he has updates to his 2022 forecast and more. As a member of HW+, you can us join for regular 30-minute Slack Q&As, where we invite the HW Media newsroom to break down the hottest topics in the industry.

Marketing 310
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Logan Mohtashami’s 2023 housing market forecast

Housing Wire

The 2022 housing market 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. Home price s.

Marketing 530