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Why are existing home prices rising when sales are still so low?

Housing Wire

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. from the previous year ($375,300). NAR: Total existing-home sales receded 4.3%

Sales 504
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Why fewer homes are taking a price cut, even while inventory rises

Housing Wire

So far in 2024, fewer homes are taking price cuts than in 2023, and this trend is on the verge of breaking below the 2023 lows in price cuts percentages. While weekly inventory is still falling, we have year-over-year growth in total active listing and new listings data. What is all this data pointing to?

Mortgages 520
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How will mortgage rates impact seasonal inventory in 2024?

Housing Wire

It’s not what I wanted to see in 2024, but I have to be realistic since we are already in February. In the last four years, we have had abnormal seasonal inventory data, meaning that the spring inventory bottom happens later in the year. Also, when mortgage rates rise, the inventory peak happens later in the year.

Mortgages 521
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Housing Market Tracker: Inventory is negative YOY

Housing Wire

Housing inventory finally broke under 2022 levels last week. To give you an idea how different this year is from last year, last week in 2022, active listings grew 30,940 while this year they only grew 5,848. Since May 15, that trend has continued to the point that inventory in America is now negative year over year.

Marketing 482
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Part 2: Current State of the Housing Market; Overview for mid-December

Calculated Risk Real Estate

Yesterday, in Part 1: Current State of the Housing Market; Overview for mid-December I reviewed home inventory and sales. year-over-year in September and will likely be even more positive YoY in October (based on other data). A key question I discussed in July is Will house prices decline further later this year?

Marketing 108
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Pending home sales remain at historically low levels

Housing Wire

Pending home sales in November were largely unchanged from October’s levels, a month that saw the lowest pending sales since 2001. NAR’s Pending Home Sales Index (PHSI) recorded a minor increase to 71.6 in November, from 71.4 Year over year, pending sales dropped 5.2%.

Sales 468
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The “Problem” With Housing In Canada Is Lack Of Supply!

Toronto Realty Blog

I provided you with a good number of links and headlines in Friday’s blog, but a reader showed me that I missed a very important one: “First-Time Home Buyers In Toronto Being Pushed Out By Investors” This is a ridiculous headline. TorontoRealtyBlog. But she says they moved from Edmonton.

Investor 109