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Days on market grow despite low inventory for existing homes

Housing Wire

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. The Federal Reserve wanted to see the bidding wars end and the days on the market grow.

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Don’t get too excited about the jump in existing home sales

Housing Wire

We got a great existing home sales report on Thursday, but is this data already too old? Existing home sales showed a jump in sales, which was anticipated by most as we had positive, forward-looking housing data due to mortgage rates falling from 8.03% to 6.63%. However, the last four weeks have had negative trending data.

Sales 422
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Housing inventory falls under 1M again as sales collapse

Housing Wire

And existing home sales crashed in 2022 from a peak of around 6.5 housing market , we just experienced an event that most people never thought could happen. However, expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year.” The days on market were too low.

Sales 536
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A San Diego data dive shows a market upended by tight supply

Housing Wire

The data examined below represents multiple listing service data and mortgage market analytics for San Diego County, as well as the state of California and the country as a whole from 2019 to 2023. percentage points in market share, albeit with a setback in 2023. In 2022, however, only 55.3% after New York (53.9%) and Washington, D.C.

Marketing 399
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Is the savagely unhealthy housing market back?

Housing Wire

Just when I thought days on market were returning to normal, that number for existing homes fell back down to 22 days. If the days on the market are at a teenager level or even lower, it’s never a good sign for the housing market. This is why the days on the market are so low historically after 2020.

Marketing 524
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Existing home sales are still savagely unhealthy

Housing Wire

The savagely unhealthy housing market is continuing as we get closer to August. We still have the unhealthy dynamics of noticeable sales declines, but prices are still growing year over year. The National Association of Realtors reported that existing home sales fell last month while prices increased yearly. Sales were down 5.4%

Sales 508
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The housing market is now savagely unhealthy

Housing Wire

The National Association of Realtors reported that existing home sales for February came in as a miss of estimates at 6.02 This level is still within my 2022 forecast sales range between 5.74 Last year I discussed sales levels coming back down to 5.84 NAR Research : Total existing-home sales sank 7.2% million and 6.16

Marketing 540