by Danger calculated on 07/10/2022 12:50:00
actual property agent.com has month-to-month and weekly knowledge on the resale market. Right here is their weekly report launched yesterday by Chief Economist Danielle Hale and Jiayi Xu: Weekly View of Housing Tendencies — Information week ending October 1, 2022. Word: They’ve knowledge on listing costs, new listings, and extra, however the focus is on stock.
• Lively stock continued to develop, rising 30% from a yr in the past. Highlighting the curler coaster that the housing market and its individuals have skilled in recent times, the present variety of houses on the market relies upon very a lot on the purpose of comparability. After an unusually heat interval of exercise, monetary situations are cooling demand within the housing market and there are lots of extra houses on the market than a yr in the past. Nonetheless, the market continues to be beneath pre-pandemic stock ranges by a fair bigger quantity.
• New listings – a measure of sellers placing houses up on the market – fell once more, falling 17% from a yr in the past. This week marks the thirteenth consecutive week of year-over-year declines within the variety of new listings put up on the market. As mortgage charges strategy 7%, a stage not seen in additional than 20 years, sellers who’re additionally making an attempt to purchase a house, practically 3 in 4 potential sellers, have needed to change their alternate plans.
Here’s a graph of the change in shares from one yr to the subsequent in response to actual property agent.com.
Word the fast enhance in YoY change earlier this yr, from a 30% decline initially of the yr to a 29% YoY enhance in early July.
Nonetheless, Realtor.com knowledge has stalled round 26% to 30% year-on-year for 14 straight weeks. That is as a result of slowdown in new listings, at the same time as gross sales have fallen sharply.