Tag Archives: Housing Inventory

According to HouseCanary's latest Market Pulse report, net new listing volume continues to trail behind contract volume, putting further downward pressure on housing inventory and dampening market activity nationwide.

Redfin reports that—for the first time since August 2022—the average sale-to-list price ratio has surpassed 100%, with low inventory and steady demand driving up home prices nationwide.

The MBA reports that American homeowners continue to struggle to make ends meet, with the national median mortgage payment hitting $2,165 in May 2023, up $268 from one year ago, or an increase of 14.1% year-over-year.

While mortgage rates fell for a third consecutive week, limited supply and continued affordability issues are handcuffing prospective buyers, as overall mortgage activity rose just 0.5% over last week’s total.

Despite a rise in overall mortgage apps week-over-week, the MBA reports that mortgage rates are a percentage point higher than a year ago, and when combined with low for-sale inventory, is constraining home buying activity in many markets.

According to Zillow's May 2023 Market Report, newly pending listings are up nearly 10% from April, as homebuying competition is driving home prices up and housing inventory down to record lows for this time of year.

Despite the early-June underperformance, Redfin reports that home-tour numbers indicate pent-up demand that should translate into improved sales once mortgage rates drop.

Data culled from the 2020 Census Demographic Profile and Demographic and Housing Characteristics File has found that West Virginia and Maine reported the highest homeownership rates in 2020, while the District of Columbia reported the lowest homeownership rate nationwide.

The MBA reports April marked the third consecutive month of year-over-year growth in new home purchase apps, as the mortgage rate environment continues to factor into homebuying and selling decisions.

Freddie Mac reports that, after retreating for two consecutive weeks, the 30-year fixed-rate mortgage edged back upward this week, nearing the 6.40%-mark, and forcing app volume downward.