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Did home sales momentum fizzle in December?

Housing Wire

The New Years week was expected to be slow, so it’s no surprise that new listings and sales are down. The Christmas and New Year’s holidays fell on Wednesdays this year, which messes up two full weeks in terms of getting home sales done and tracking the numbers. fewer homes on the market that a week ago.

Sales 448
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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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Typical days on market reaches slowest pace in 5 years: Redfin

Inman

Persistent market headwinds resulted in a slow beginning to the year, according to Redfin. The typical days on market reached 54 days this month the slowest pace since 2020.

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The unexpected strength of home prices this year

Housing Wire

We track inventory and home sales very closely, so the biggest surprise this year has been the resiliency of home prices. All the dominant trends in the housing market this year seem like they would indicate home prices declining. As a result, we’re now only 21% fewer homes on the market than this point in 2019. 66 vs. 53 days.

Mortgages 476
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Existing home sales lay the path for the 2024 housing market

Housing Wire

Did today’s existing home sales report give us a playbook for housing in 2024? I would argue yes, and the housing market today looks a lot like what we saw in late 2022. Year-over-year, sales fell 7.3% (down from 4.12 In 2022, we recorded the most significant single one-year home sales crash ever. million in November.

Sales 482
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Existing home sales now outperforming

Housing Wire

The National Association of Realtors ‘ existing home sales report for October came in at a solid beat of estimates at 6.34 This number is above my trend sales peak of 6.2 million and that means we have had back-to-back existing home sales prints of over 6.2 million and 6.2 I had anticipated a few prints under 5.84

Sales 539
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What constitutes public marketing? NAR clarifies details on delayed marketing listings

Housing Wire

Under the National Association of Realtors (NAR) new Multiple Listing Options policy, the trade group is allowing listing agents, with the signed consent and direct permission of their seller client, to delay publicly marketing a listing through Internet Data Exchange (IDX) feeds and syndication.

Marketing 207