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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. And, those that are immediate sales.

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. NAR Research : Total existing-home sales decreased 5.9% million in October.

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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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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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Compass invites outside agents to use Coming Soon listings in latest shot at CCP

Housing Wire

Compass says that the listings protect home sellers against negative insights, such as days on market. According to the company, one of the benefits of Compasss marketing plan is that it hides metrics like days on market and price drop history that tend to negatively impact interest in a given home listing.

Agents 383
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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 541
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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%. Purchase apps look out 30-90 days before they hit sales data.

Sales 493