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Realtor.com Reports Weekly Active Inventory Down 2% YoY; New Listings Down 21% YoY

10/07/202321/04/2025dansa

by Calculated Risk on 7/09/2023 08:12:00 AM

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from economist Danielle Hale: Weekly Housing Trends View — Data Week Ending July 1, 2023

• Active inventory declined, with for-sale homes lagging behind the year ago levels by 2%. As we report the surge in inventory that occurred in 2022 as higher mortgage rates were priced out by many home shoppers, the number of homes for sale was not kept up. With 1 in 7 homeowners choosing not to sell this year citing high mortgage rates, and even 4 in 5 home shoppers (82%) report feeling locked-in by their existing low-rate mortgages, the housing market is not getting the influx of homes for sale that it typically does, and this is reflected in what’s available for sale. We expect inventory in 2023 to continue to struggle to keep pace and likely decline for the year as a whole.

• New listings–a measure of sellers putting homes up for sale–were down again this week, by 21% from one year ago. The number of newly listed homes has been lower than the same time the previous year

Man Dies of Stroke After a Realtor Failed to Call Help

07/04/2023dansa

Randy Vaughan suffered a stroke at home in North Carolina and later died in a hospice.
A realtor had seen him lying on the floor of his home but had not called for help.
The realtor wrote in a report that he was unsure if Vaughan was dead or had drunk too much.

The family of a 69-year-old man is calling for an investigation into his death, saying he suffered a stroke and a real estate agent saw him on the floor but left without helping.

Randy Vaughan from North Carolina was found unresponsive in his home on February 14 after his family became concerned that he had not called to wish his grandson on his birthday, the Winston-Salem Journal newspaper reported.

It was determined that he had suffered multiple strokes and developed pneumonia, and the family had to move him to hospice care, where he later died on February 22.

His family later learned that a realtor had visited the house in High Rock Lake the previous day for a showing and heard him grunt

Realtors say roosters taking over Phoenix neighborhood deterring potential buyers

14/03/2023dansa

PHOENIX (3TV/CBS 5) — There are chickens and roosters all over yards and even some roofs in one Valley neighborhood. Many residents in the area say they enjoy it, but a real estate agent says it could be impacting home values.

For years, chickens and roosters have been roaming the neighborhood south of the Biltmore area, and they seem to be multiplying. The city of Phoenix says they have not received any recent complaints, but a realtor here in the Valley says selling there has been a challenge.

If you take a drive through the neighborhood of 34th Street and Earll, you will find roosters, chickens and even peacocks all over people’s yards, on roofs, and even crossing the streets. “I’ve been here 50 years the chickens were here before me,” resident Andrew Trombetta said. He explains why he believes the birds are still in the area. “Before the houses were built there were four farms and they had the chickens and let them run loose and once the houses were built the chickens were still there,” he said.

The city of Phoenix says because the birds are feral and have no ownership claims, there is no code they can

What’s the 2023 Florida Outlook?

29/01/2023dansa

ORLANDO, Fla., Jan. 23, 2023 /PRNewswire/ — What consumers, Realtors should do^® and policy makers expect when it comes to Florida real estate over the next year? After the unexpectedly strong years of 2020 and 2021 despite an ongoing pandemic, Florida’s housing sector in 2022 was affected by rapidly rising inflation and higher mortgage interest rates, Florida Realtors^® Chief EconomistDr. Brad O’Connor told nearly 500 Realtors during the 2023 Florida Real Estate Trends summit last Thursday.

Florida Realtors logo (PRNewsPhotos/Florida Realtors)(PRNewswire)

“Now, we expect the state’s residential real estate market to return to a more typical pace,” he said. “I believe 2023 will look more like the ‘traditional’ housing market year of 2018-2019 in Florida as supply and demand become more balanced.”

The event was part of this year’s Florida Realtors^®‘ Mid-Winter Business Meetings at the Renaissance SeaWorld Orlando. In addition to O’Connor, the summit featured John Leer, chief economist of Morning Consult, which uses high-frequency survey data to capture insights into consumer attitudes and concerns. Leer leads global economic research and oversees the firm’s economic data collection, validation and analysis. He is an authority on the effects of consumer preferences, expectations and

Realtors predict the end of a frenetic market in 2023

21/01/2023dansa

Illustration of the year 2022, with a keyhole for a zero, which zooms in so you can see through the keyhole to the year 2023.

Illustration: Brendan Lynch/Axios

Realtors across the country foresee an increasingly buyer-friendly housing market in 2023, a major shift from the frenetic and expensive pandemic-era housing boom.

Driving the news: The housing market has slowed — thanks to mortgage rates hovering around 6%.

Axios polled more than 75 experts across Axios Local cities to find out what’s in store for 2023 and found that sellers everywhere will have to put in more work to close the deal as buyers aren’t willing to overbid on less-than-perfect homes.

“Buyers have and should continue to have a choice of properties to purchase along with some wiggle room, which could include sellers paying buyers closing costs, decreasing prices and property repairs,” Sheryl Bowden, vice president of Phoenix Realtors, said.

InCharlotte, the market is moving with interest rates, said Jeff Clay, owner of JClay Realty.

And unless those rates come down drastically, “we are likely in for a market with low overall activity, low supply and demand that will probably stay a bit muted,” Clay said.

in San Francisco, Eileen Bermingham with Corcoran Icon Properties predicts “fewer instances of overbidding and multiple offers.

“Buyers will split into two camps: those waiting for prices to fall, or

Tri-Cities realtors help raise nearly $20K for housing charities

17/01/2023dansa

Local agents also brought in almost $20,000 for housing-related charities, surpassing the financial fundraising bar for 2022.

Realtors across the Tri-Cities have eclipsed another big number in its annual campaign to clothe those in need over the winter seasons.

The Real Estate Board of Greater Vancouver (REBGV) and its member agencies have now donated winter clothing to more than 480,000 people in the last 28 years through its annual Realtors Care Blanket Drive.

For 2022, the week-long November event brought in enough supplies to help more than 27,300 residents in the region, primarily women and children fleeing abusive situations.

The Tri-City Transitions Society (200-2540 Shaughnessy St.) was one of the recipients thanks to 16 local realtor offices in Coquitlam, Port Coquitlam and Port Moody.

Metro Vancouver residents also opened up their wallets to donate nearly $20,000 for the cause — said to be the “largest and longest running” winter clothing drive in all of BC — surpassing the campaign’s initial fundraising goal of $15,000.

The money is earmarked for local housing-related non-profit organizations, said REBGV spokesperson Daniel John.

“Our partner charities were in dire need of blankets and warm clothing this year,” he said in a release. The initiative took

NAR Forecasts 4.78 Million Existing-Home Sales, Stable Prices in 2023

09/01/2023dansa

WASHINGTON (December 13, 2022) – Lawrence Yun, NAR chief economist and senior vice president of research, forecasts that 4.78 million existing homes will be sold, prices will remain stable, and Atlanta will be the top real estate market to watch in 2023 and beyond. Yun unveiled the association’s forecast today during NAR’s fourth annual year-end Real Estate Forecast Summit.

Yun predicts home sales will decline by 6.8% compared to 2022 (5.13 million) and the median home price will reach $385,800 – an increase of just 0.3% from this year ($384,500).

“Half of the country may experience small price gains, while the other half may see slight price declines,” Yun said. “However, markets in California may be the exception, with San Francisco, for example, likely to register price drops of 10–15%.”

Yun expects rent prices to rise 5% in 2023, following a 7% increase in 2022. He predicts foreclosure rates will remain at historically low levels in 2023, consisting of less than 1% of all mortgages.

Yun forecasts US GDP will grow by 1.3%, roughly half the typical historical pace of 2.5%. After eclipsing 7% in late 2022, he expects the 30-year fixed mortgage rate to settle at 5.7% as the