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National Data

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Housing Market Sees Unusual Inventory Gains in November
By Mike Simonsen on November 20, 2023

Inventory is still growing nationally the week before Thanksgiving. That’s very late in the season. Last week it looked like inventory had peaked for the year, which I announced in this...

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National Data

Inventory and Home Sales Showing Improvements Over 2022
By Mike Simonsen on November 13, 2023

New listings volume and the weekly sales volume are now running at a slightly better pace than the same week last year. Both have been below 2022 all year long. When we started the year,...

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National Data

Is This the Beginning of the End of the Housing Recession?
By Mike Simonsen on November 6, 2023

The big question on everyone’s mind is: when will home sales turn around? Are we on the cusp of a double-dip housing recession? Or are there signals that 2024 might see a recovery in the...

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National Data

Could Home Sales Finally Start To Grow Soon?
By Mike Simonsen on October 30, 2023

It’s the last week of October and available inventory of unsold homes in the US is still on the rise. This was the week last year when inventory finally peaked and started receding before...

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National Data

If Homebuyer Demand Is So Weak, Why Aren’t Home Prices Falling?
By Mike Simonsen on October 23, 2023

If homebuyer demand is so weak, why aren’t home prices falling?By now everyone knows that homebuyers are holding back in hopes of improving affordability. There were only 55,000 single...

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National Data

Homebuyers Hit the Brakes, Causing Unseasonal Growth in Inventory
By Mike Simonsen on October 16, 2023

Available inventory of unsold homes on the market continues to climb at its fastest clip all year. The total count of unsold single family homes grew by 9,000 this week, which is very...

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National Data

Mortgage Rates Continue To Climb, Deterring Potential Homebuyers
By Mike Simonsen on October 9, 2023

The same trends of the last few weeks are still dominant this week. Mortgage rates continue to climb. It’s not uncommon to hear rates quoted over 8% for a 30-year fixed mortgage....

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National Data

Inventory Builds, Putting Pressure on Home Prices
By Mike Simonsen on October 2, 2023

Available inventory of single family homes for sale rose another 1.3% this week. Even though that’s a slight deceleration from the last few weeks when inventory was climbing by nearly 2%...

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National Data

Home Inventory is Climbing Even Faster Than Last Year
By Mike Simonsen on September 25, 2023

Available inventory of homes for sale is on the rise in late September, which is very unusual for this time of year. In fact, inventory is growing faster than last year at this time. This...

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National Data

A Change in Homebuyer Expectations Is Slowing the Housing Market
By Mike Simonsen on September 18, 2023

Home sales each week continue to be at depressed levels. We counted only 59,000 new pending sales this week. Meanwhile, available inventory of unsold homes is growing. In fact, this week...

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