Pro Builder

FEBRUARY 16, 2023

While a current slowdown in buyer demand can be partially attributed to seasonality, Zillow tracked a 30% decline in the number of active house hunters from July to October 2022 before the winter season had even begun. Read more Market Data + Trends New-Home Sales Market Data + Trends

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Pro Builder

JULY 26, 2021

Housing Market Outlook: Should Buyers Wait it Out? Should homebuyers consider waiting out the hectic housing market? Almost two-thirds of June listings resulted in bidding wars, and buyers continue to sweeten their offers by offering vacations and even crypto, but inventory remains low. Housing Markets. cbroderick.

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Pro Builder

OCTOBER 18, 2022

Housing Bubble About to Pop? may be in a housing bubble, and some believe that bubble is about to burst. After peaking to new highs this summer, home prices are beginning to fall as elevated mortgage rates whittle away at housing affordability and put a dent in homebuyer demand. Tue, 10/18/2022 - 10:16.

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Pro Builder

FEBRUARY 24, 2022

Why the Spring Housing Market May Be the Worst Yet for Homebuyers. The fate of the 2022 housing market is largely dependent on supply, especially as the U.S. If there’s less demand, it could mean fewer (or at least less heated) bidding wars that don’t result in mind-boggling offers over the asking price. Housing Markets.

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Pro Builder

JUNE 9, 2022

A Major Housing Shift Is Underway, Experts Say. After years of relentless price hikes, bidding wars, and an ever-growing supply deficit, the housing market is showing its first signs of a slowdown, one which, indeed, will be very slow to effect any tangible changes, says Bill McBride in the CalculatedRisk Newsletter.

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Pro Builder

FEBRUARY 19, 2021

Online Homebuying Makes Way for Sight Unseen Bids. With the increase in virtual selling tools and shortened listing times, making a bid on a home sight unseen has become easier and more common. cbroderick. Fri, 02/19/2021 - 09:47.

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Pro Builder

JANUARY 11, 2022

With tighter competition and declining inventory, first-time buyers are struggling to stay afloat, and some are backing out of the housing market altogether. Some are refusing to make major home repairs or accept offers including down payment assistance, and bidding wars are becoming more frequent and more intense.

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Pro Builder

FEBRUARY 16, 2021

Pandemic Housing Fever' Rushes Some Buyers Into Purchasing. One Los Angeles resident found herself a homeowner after losing bidding wars for months—only to realize she hated the $600,000 house. It was a land grab for houses,” said Cheryl Eisen, CEO of the interior-design and property-marketing firm Interior Marketing Group.

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Pro Builder

FEBRUARY 21, 2022

Nationwide housing inventory dropped to a new low in January, but steadfast buyers aren’t slowing down. At the current lightning sales pace, that inventory can only satisfy heightened demand for 1.6 Seller traffic is very very low, implying that inventory is struggling to make the turn. Housing Markets.

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Pro Builder

APRIL 14, 2021

The Hottest Housing Markets Right Now. With the spring market here, Realtor.com rounded up the housing markets receiving the most attention and some show buyers are picking up where they left off last year. Realtor.com’s hottest housing market for March was Manchester, NH, which happened to be the top housing market in March 2020.

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Pro Builder

JULY 23, 2021

Buyers Pull Back After Extended House Hunting. Last winter, the Veros family found a home that fulfilled their modest wishlist and placed a bid for $6,000 over asking. When they learned the winning bid offered $60,000 more, the Veros knew they needed to give everything they could. cbroderick. Fri, 07/23/2021 - 09:58.

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Pro Builder

DECEMBER 15, 2022

With comparatively high inventory and affordable home prices, these metros are prime homebuying locations for first-time house hunters in 2023. Markets like Wichita, KS offer an inventory to buyer ratio of 22 to 1 with price reductions in 22% of all listings, Zillow reports. Housing Markets. Housing Markets.

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Pro Builder

MARCH 22, 2023

House flippers have always been around, but the rise of teardowns in New Jersey is happening at a much larger scale, and it’s becoming a more common practice in the market. Depending on the neighborhood, Counts says has seen potential buyers bid on homes with large upsides, particularly if the margins aren’t high enough for builders.

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Pro Builder

JUNE 29, 2022

Earlier this year, homes listed on the market sold in an average of just 21 days on the frontlines of heated bidding wars. Low inventory has been an issue in the market, says Matt Fowler, executive director of Triangle MLS. He says more area houses sold in 2021 than in any year before—and that pace has kept up this year so far.

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Pro Builder

OCTOBER 5, 2020

What will be the demise of the housing industry’s unprecedented boom? But that’s not to say these key issues—housing inventory, building materials, worker shortages, general economic uncertainty—will not catch up to the industry eventually. America is running out of inventory. cbroderick. Mon, 10/05/2020 - 10:01.

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Pro Builder

AUGUST 29, 2022

Adjustable-rate mortgages (ARMs) had a hand in the housing downturn that led to the Great Recession, but they won’t do as much damage this time around, experts say. Lending practices have been reformed after hard lessons learned in 2008. This has all contributed to a more secure mortgage landscape. .

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Pro Builder

SEPTEMBER 14, 2022

Housing costs are on the rise, and rather than waiting for yet another barrage of mortgage rate hikes, prospective buyers could benefit from staying ahead of the curve. Not only are borrowing costs rising, but active inventory is steadily declining. Mortgage Rates Are on the Rise, but Now Might Be a Good Time to Buy—Here’s Why.

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Pro Builder

MARCH 8, 2023

That uptick in borrowing costs comes along with a drop in available inventory, meaning home prices will also remain high as the housing market heats up during a seasonal shift. Buyers had returned to the market, and bidding wars had heated up again. Read more Financing Housing Policy + Finance Housing Policy + Finance

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Pro Builder

JUNE 7, 2021

The housing market may be leveling out as recent housing metrics slow. It's been reported all year that housing statistics are breaking records, then breaking those records, half of listings are scooped up in the first week, and buyers continue to bid on homes sight unseen. Mon, 06/07/2021 - 09:47. Read More. .

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Los Angeles Inventory Bidding Housing 52

Pro Builder

MARCH 29, 2021

The Realtor.com data team took a look at which parts of the country could get some relief with some brand-new inventory. Amid soaring home prices and crazy bidding wars, builders trying to put a dent in the insatiable demand for housing have applied for 14% more permits so far this year compared with the same 2020 period, per the U.S.

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Pro Builder

APRIL 5, 2022

These regional markets offer relative affordability and more expansive for-sale inventories . As housing inventory reaches a record low in much of the country, a few regional housing markets offer additional listings with relative affordability and a reprieve from heated bidding wars. Housing Markets.

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Pro Builder

JULY 18, 2022

Even as prices inch toward new highs and bidding wars screech to a halt in some overheated markets across the country, other locations are still seeing strong sales and flourishing new construction activity. According to CNBC, Utah is home to the nation’s most stable housing market with the fastest pace of new construction and 27.1%

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Pro Builder

AUGUST 25, 2021

Real estate experts predict a cooler fall housing market, but competition will remain hotter than usual. Realtor.com says experts forecast an increase in listings, which would then slow price appreciation and help to relax bidding wars. Experts say housing prices will continue to rise, but at a slower 5% to 6% annual growth.

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Pro Builder

JUNE 11, 2021

Even missing an email for showings resulted in missed opportunities due to a rule some Denver sellers are enacting: no showing appointment, no opportunity to bid. Historically, inventory numbers per month averaged between 14,000 and 15,000, but that now hovers at a mere 2,000. Housing Markets. Housing Markets.

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Pro Builder

MARCH 29, 2023

While older generations are flourishing in a market characterized by low inventory, record-high home prices, and all-cash offers, the share of younger buyers closing on home purchases is falling. home purchases, according to the National Association of Realtors’ 2023 Home Buyers and Sellers Generational Trends report. They’re not downsizing.

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Pro Builder

OCTOBER 19, 2020

The combination of what could be the lowest mortgage rates of our lifetimes, a paucity of inventory, and a desperate rush of buyers has resulted in median home list prices hitting new records. If a buyer wants to win the bid on a home, they have to offer above asking price.". Prices were 12.2% 10, according to realtor.com® Economics.

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Pro Builder

SEPTEMBER 14, 2021

An increase in residences for sale would be a welcome shift, as the housing shortage is fueling the high price growth and bidding wars. Economists are expecting to see a similar rise in inventory hitting the market during that week this year. The number of properties for sale was 26% lower in August than one year earlier.

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Pro Builder

JUNE 14, 2021

The overwhelming heat of the housing market has cooled to a more manageable level during the past few weeks, says Redfin’s CEO Glenn Kelman. Still, the same hurdles and demands continue for buyers, such as more affordable housing, more space, and little options. A lot of it is just they don’t want to participate in these bidding wars.

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Pro Builder

MAY 20, 2021

But once Millennials found a home they liked, they entered a bidding war to secure it. Two-thirds of Millennials said they placed at least four offers before securing the winning bid, and many admit to settling. The low inventory levels and tight housing market drove them toward homes that need work,” says Oisin Hanrahan, CEO of Angi.

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Pro Builder

AUGUST 10, 2022

An uptick in stale inventory is a stark contrast to the mid-pandemic housing boom, which saw homes fly off the market at a record pace. Buyers can take their time making careful decisions about homes without worrying so much about bidding wars, offering over the asking price and waiving contingencies. The share of U.S.

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Pro Builder

AUGUST 13, 2020

Despite low mortgage rates, buyers looking for affordable housing face limited options, many experiencing all-out bidding wars for homes amid historically low inventories. But Realtor.com identified three markets where buyers have more plentiful options of affordable housing. Thu, 08/13/2020 - 10:06.

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Pro Builder

MAY 26, 2021

We’ve had a very competitive housing market this year, characterized by very few homes for sale, steeply rising prices, and bidding wars. This led to inventory drying up, homes selling in hours, in some cases, and a rash of bidding wars and offers over asking price.

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Pro Builder

FEBRUARY 4, 2021

The housing market continues to warmly welcome first-time buyers with bidding wars, record-high home prices, and a shortage of inventory. Survey Finds First-Time Buyers Face New Difficulties. cbroderick. Thu, 02/04/2021 - 12:28.

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Pro Builder

SEPTEMBER 15, 2020

As home prices continue on an upward track, housing inventory only stretches thinner, and as the economy remains weak, this may not be the ideal time for first-time buyers. House prices have appreciated faster than wages for a long time. Is the American Dream Becoming Less Achievable? cbroderick. Tue, 09/15/2020 - 09:13.

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Income Nashville Tennessee Inventory 72

Pro Builder

JULY 2, 2021

Housing supply increased 5.5% And some cities even posted a 20% or more increase in housing supply compared to the same time last year. It’s an unusual event as listings typically drop between May and June after the spring buying season, yet the housing market has yet to perform “normally” since the pandemic began.

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Pro Builder

OCTOBER 2, 2020

“Unseasonably high buyer interest coupled with historically low inventory and favorable mortgage rates are creating a perfect storm in the housing market. That competition is making bidding wars the rule rather than the exception.

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Pro Builder

JUNE 1, 2021

The cost of construction continues to increase due to material and labor shortages, yet buyer demand remains so robust that builders risk losing business because they cannot supply inventory, says The New York Times. Every housing boom redefines where the city ends. This is a permanent game changer in the housing market.”.

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