On March 18, 2020, purchase application data broke out to pre-cycle highs in demand. Home sales hit their highest levels in a decade right before COVID-19 hit our economy. This matters because inventory was already heading toward all-time lows before COVID-19. Going back further, the rules put in place after the great financial crisis have [...]read moreHow housing credit is shaping housing inventory
My model for inventory growth with higher mortgage rates came crashing down last week. After two weeks of significant increases, inventory growth slowed dramatically and is far from my 11,000-17,000 growth model with mortgage rates over 7.25%. Did the recent dip in mortgage rates play a role here or is this the average choppy weekly [...]read moreDid lower mortgage rates slow housing inventory growth?
Statewide as of April 26, the 90-day average number of single-family active listings was 19,399, according to data from Altos Research. While this is up from a record low of 7,336 listings set in late April 2022, it is still well below the 29,951 listings in early May 2019, about a year prior to the [...]read moreLow inventory creates challenging conditions in North Carolina’s housing market
Kontoor Brands on Thursday said revenue for the first quarter fell 5 percent to $631 million, hit by retailer inventory management actions in the U.S., a decrease in seasonal product sales, and lower international sales, particularly in Europe. Wrangler U.S. revenue fell 5 percent $492 million, with U.S. wholesale revenue falling 6 percent. Growth in owned [...]read moreKontoor sales dip on inventory woes and Europe, raises full-year earnings outlook on improved margins
More than 556,000 single-family homes were available for sale nationwide as of last Friday, according to the latest data from HousingWire sister company Altos Research. That puts the national inventory up 31.9% year-over-year, extending a 24-week streak of year-over-year increases. So are agents and brokers flush with home listings? Likely not, as listings are still [...]read moreThe Texas-size problem with housing inventory figures
When housing inventory is low, where do you go? Foreclosure rates are down, short sales are a hassle, and the open housing market has barely any sellers—is there a better way to find deals? Yes! Enter real estate receivership—the hidden housing inventory that our own James Dainard has been using for years to get better [...]read moreThe Hidden Inventory Only Experts Know About w/Jake Flothe
Active weekly housing inventory growth slowed slightly last week, but it’s still running at a healthier clip than in 2023. I have a simple model with mortgage rates being above 7.25%: weekly inventory data should grow between 11,000-17,000 per week. Last year, we never hit that target. We have now seen it for two weeks [...]read moreSpring housing market gets more inventory
Find out how newlywed, outdoor enthusiast and former CPA Billy Davidson has launched his career — and what he plans to do next. At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us. [...]read moreLesson Learned: Become An Inventory Expert
Weekly housing inventory data Higher mortgage rates with duration will likely lead to higher inventory, which we have seen repeatedly for the past 10 years. However, 2023 tested my model as the inventory growth rate on a week-to-week basis was slow, even when rates headed toward 8%. It’s a simple model: inventory should grow between [...]read moreFinally, some healthy housing inventory growth
Tesla has ended discounts on inventory across its electric vehicle lineup — even as sales for EVs have flagged — as part of a larger and vague plan by CEO Elon Musk to “streamline the whole Tesla sales and delivery system.” “It has become complex and inefficient,” Musk wrote in a post on X, the [...]read moreTesla ditches EV inventory price discounts as Elon Musk moves to ‘streamline’ sales and delivery