Tag Archives: inventory

There’s a ‘magic number’ that moves homes. Will we ever hit it?

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Homebuyers have been holding out for a 5.5 percent rate, Maegan Sherlock told Intel. It may take a while for them to adjust their expectations. Continue reading →

Median sale price climbs to $426K for only 2nd time in US history

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Undeterred by elevated mortgage rates, homebuyers battling over scant inventory pushed June’s median sales price to the second-highest level in history, according to new data released Monday by Redfin. Continue reading →

Americans resigned to high home prices, mortgage rates: Fannie Mae

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Consumer confidence in the housing market “appears to have plateaued at a relatively low level,” said Fannie Mae Chief Economist Doug Duncan in a new homeowner survey released on Friday. Continue reading →

Kendall Bonner: The industry isn’t ready for reality of commission suit

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Bonner, an eXp team leader, has been vocal about the need for agents and brokers to consider how they’ll serve buyers in a post-lawsuit landscape. She expanded on her concerns with Intel. Continue reading →

New listings plummet 27%, marking biggest annual fall since pandemic

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The number of new listings coming onto the market has plunged since June 2022, according to data released Thursday by Redfin. Transaction levels remain low even as home prices creep higher. Continue reading →

Home sales see typical boost in May to close a sluggish spring

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The National Association of Realtors recorded 408,000 sales of existing homes in May. Before the pandemic, that number was closer to 530,000. Continue reading →

Empty cupboards: The US has 39% fewer homes for sale than in 2018

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New listings dropped 23 percent year over year, pulling the number of homes on the market down 39 percent compared to the same period five years ago, according to an analysis by Redfin issued Thursday. Continue reading →

The inventory recovery suffered a setback. Is it just temporary?

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The housing downturn was supposed to bring the market back into balance between buyers and sellers. But recent inventory gains have stalled. Continue reading →

‘Inflation is still running too high’: Homebuyers stunned by rate surge

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Requests for purchase loans were down last week by 31 percent from a year ago as rates rose to new 2023 highs and homes remained scarce in many markets, according to the MBA’s Weekly Mortgage Applications Survey. Continue reading →