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Days on market grow despite low inventory for existing homes

Housing Wire

The positive aspect of today’s data line is that the days on the market grew again, and we are getting off the teenager level. One thing about housing data we all need to be mindful of is that the year-over-year comps will be very challenging until we get to the end of January.

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Existing home sales now outperforming

Housing Wire

Then when you add move-up, move-down, cash, and investor buyers together, we should be able to always have total home sales — both new and existing — at 6.2 Not because of a credit housing bubble boom but because days on market are still too low, creating a bidding war frenzy that doesn’t do anyone any good. million or higher.

Sales 539
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Don’t get too excited about the jump in existing home sales

Housing Wire

From NAR: First-time buyers were responsible for 28% of sales in January; Individual investors purchased 17% of homes; All-cash sales accounted for 32%; Distressed sales represented 2% of sales; Properties typically remained on the market for 36 days in January.

Sales 493
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The housing market is now savagely unhealthy

Housing Wire

One of the critical data lines that I want to see improve this year is days on market. My concern now is that some sellers are feeling stressed about this market, which should never happen because this is the best seller market ever. However, a seller is also a natural homebuyer, unless they’re an investor.

Marketing 542
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Housing inventory falls under 1M again as sales collapse

Housing Wire

However, in 2020 new listing data came back, and we don’t want to see the new listings continue to decline this year — that would be a double negative for the housing market. Days on market growing One of the reasons I called the housing market savagely unhealthy in 2022 was that houses flew off the shelves once they were listed.

Sales 541
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The savagely unhealthy housing market is back

Housing Wire

The days on market are back to a teenager level in the existing home sales market, which means I can officially say we are back to a savagely unhealthy housing market! Nothing good happens in the housing market when the days on market are at a teenager level or lower. million in May.

Marketing 526
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Have we finally hit the bottom in existing home sales?

Housing Wire

Below are a few charts to go along with the existing home sales report: From NAR: First-time buyers were responsible for 28% of sales in October; Individual investors purchased 15% of homes; All-cash sales accounted for 29% of transactions; Distressed sales represented 2% of sales; Properties typically remained on the market for 23 days.

Sales 484