Tag

New Listings

All articles tagged with #new listings

real-estate1 year ago•4 min saved

"Buyer Restraint as Mortgage Rates Surge: Impact on Housing Market"

The U.S. housing market sees a significant increase in new listings, marking the largest uptick in nearly three years, while total inventory remains steady for the first time in nine months. However, high mortgage rates and soaring home prices continue to dampen buyer demand, leading to an 8% decline in pending sales and a fourth consecutive week of decreasing mortgage-purchase applications. Despite this, there is a surge in homebuyer activity as more house hunters take advantage of the increased inventory, with the potential for pending sales to improve in the coming months if mortgage rates stabilize and new listings continue to rise.

via Redfin News |

#homebuyers #housing-market #mortgage-rates

real-estate2 years ago•3 min saved

"2023 Sees Record Low Home Sales and Plunging Prices in US Real Estate Market"

The US housing market is experiencing a freeze as demand for existing homes has collapsed, leading to a drop in prices and the highest supply for any December since 2018. The median price of existing homes dropped to $382,600 in December, down 7.5% from the peak in June 2022. Sales of existing homes fell to the lowest level since 2010, with actual sales down by 42% from December 2021. Active listings and new listings of existing homes have seen unusual trends, with new listings in December 2023 up from a year earlier. Homebuilders are adjusting to the market by building smaller houses with fewer amenities and offering incentives to buyers, leading to decent sales of new homes.

via WOLF STREET|

#existing-homes #home-prices #housing-market

real-estate2 years ago•8 min saved

2024: A Year of Relief for Homebuyers as Prices Drop and Sales Spike

Redfin predicts that in 2024, homebuyers will catch a break as home prices are expected to fall by 1% and new listings increase. The shift towards a buyer's market is attributed to factors such as inflation tapering off, declining mortgage rates, and more homeowners listing their properties for sale. Additionally, Redfin anticipates an increase in home sales by 5% and changes in the real estate industry, including more transparency in agent fees and a rise in direct transactions between buyers and listing agents. The rental market is also expected to see growth as young families embrace renting due to high housing costs. However, President Biden may face challenges in his re-election bid due to the lack of housing affordability.

via Redfin News |

#home-prices #homebuyers #housing-market

real-estate2 years ago•4 min saved

Home Sales Plummet as Mortgage Rates Soar

Demand for existing homes continues to decline, with sales falling to the lowest levels since the 2010 housing bust. However, new listings rose in August, which is unusual for the month, and median days on the market increased. Price reductions as a percentage of active listings also reached a pre-pandemic high, indicating sellers' motivation to sell. The median price remained relatively flat, but was down 1.6% from its peak in June 2022. The balance between buyers and sellers has decreased due to homeowners with low mortgage rates not buying or listing their homes, resulting in lower demand, supply, and churn in the housing market.

via WOLF STREET|

#existing-homes #housing-market #new-listings

real-estate2 years ago•5 min saved

Housing Market Volatility Continues with Fluctuating Rates and Low Inventory.

The housing market experienced a wild week as the 10-year yield rose, sending mortgage rates near 7%. New listings data fell, but active inventory grew slowly. Purchase apps had a weekly negative print, continuing the trend of higher rates impacting the data. The debt ceiling issue is a wild card for market activity this week, with or without a resolution. The market will pay more attention to that than economic data this week.

via HousingWire|

#housing-market #inventory #jobless-claims

real-estate2 years ago•2 min saved

Spring Housing Market Sees Fewer Sellers and Unwanted Listings

Despite the surge in demand and low mortgage rates, potential home sellers are not listing their homes for sale, resulting in a decline in new listings by 20% in March compared to the same month last year. The active inventory of homes for sale is 60% higher than the start of last spring, but homes are taking longer to sell, with an average of 54 days on the market. The greatest increases in time on market were in Raleigh, Kansas City, and Austin. The housing market's performance this year will depend on mortgage rates, which have dropped slightly in early March but are moving higher again.

via CNBC|

#home-sellers #housing-market #inventory