realtors - LWN

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

Journal Club 05-05-23 – Passive Income MD

09/05/202321/04/2025dansa

Here’s Journal Club 05-05-23! Every week, I hold a JOURNAL CLUB. After filtering through the articles on the web, I present a few that impacted my life this week. Be safe and stay well!

When pursuing Financial Independence or planning for early retirement, most people tend to focus on accumulating wealth, but rarely do they think about ways to access that nest egg. Would you agree? Do you have a plan for how you’d be accessing your assets in retirement? In case you’re looking for some ideas, the Physician on FIRE has valuable guidance for you in the post – Retirement Spending: Which Accounts Come First?

Saving for college has always been a tremendous undertaking for most parents, and it only seems to worsen each year. If you’re a parent, you may have already opened a 529 plan for your child. But did you know there are several other creative ways you could implement to save for college? Curious to learn more? The Financial Samurai shares more about it in the article – The Different Ways To Pay For College: My Surprising Blind Spot.

Investing in short-term rentals or vacation rentals has grown exponentially in the past few years.

Homes in Erie are selling faster than anywhere else in the United States

19/04/202321/04/2025dansa

Homes are selling faster in Erie than in any other city in America, according to a realtor.com article. Of the top five cities listed where homes are selling fastest, Erie is followed in order by Traverse City, Michigan; Youngstown, Ohio; Peoria, Illinois; and Charleston, West Virginia.

more: See Erie County’s 10 most expensive homes sold in 2022

The article says the median list price for homes sold in Erie in March was $197,450. Houses in this area of Pennsylvania are selling two weeks faster now than they did at this time a year ago.

In 2022, homes spent an average of 71 days on the market before they were sold. Today, it takes just 58 days. Of course, home prices in Erie are considerably lower than the national average, which was $424,000 during March.

Nanci Lorei, of Marsha Marsh Real Estate, is quoted in the article, saying, “There’s definitely a huge shortage (of homes for sale) right now.”

Thanks to Greg Rubino for sending along this interesting article.

Living: Erie rental market includes new and unique options, but not everyone can pay rising costs

● A federal judge on March 30 ruled Major League Baseball must settle a suit with

Rutherford Co. schools closed Monday for safety review

03/04/2023dansa

As a public service, The Tennessean has made this content free.

Recap: Three children and three adult staff members were killed Monday at Covenant School in one of Tennessee’s deadliest school shootings. Audrey Hale, 28, entered the school at about 10:11 am armed with a rifle. Officers who responded to the scene killed Hale about 14 minutes later. Video footage shows a timeline from when Hale first got to the school until the police fired the fatal shots.

911 calls from inside the school released Thursday by Metro police give more details as to the timeline of the shooting, as do a pair of officer radio clips released by police.

Gov. Bill Lee said Friday he would propose a measure to increase school security measures statewide and was open to the idea of considering something similar to red flag laws, which have already been enacted in other states including Florida.

Follow along here for live updates as we learn more about Monday’s shooting.

15 MINUTES OF TERROR: How the Covenant School shooting and Nashville police response unfolded

EXCLUSIVES: Tennessee Gov. Bill Lee moves to boost school safety funding, open some gun reforms after shooting

Comfort kits for Covenant School

Kris

Does a Canadian realty price-fixing lawsuit have merit?

22/03/2023dansa

A proposed class-action lawsuit alleges that some of Canada’s largest brokerages and real-estate associations are engaged in price-fixing to inflate Realtor commissions.

Brokerages named in the lawsuit include ReMax, Century 21, and IproRealty Ltd., as well as the Canadian Real Estate Association and the Toronto Regional Real Estate Board.

The lawsuit claims that there is an agreement, among brokerages in the Greater Toronto Area, which applies to any individual listing on the Toronto Multiple Listing Service (MLS).

“When it comes to listing your home for sale, you typically sign an agreement with a listing brokerage,” broker and real estate commentator David Fleming told CTV’s Your Morning on Monday Morning. “You pay a fee and then usually half or some of that fee is offered as an inducement to a buyer’s agent. So this suit is alleging that there is a fix of two and a half per cent, which is what the suit said, that basically forces people to offer that.”

Fleming explained that, on MLS, “you’ll see a lot of two per cent commissions, a lot of half a per cent to one per cent through discount brokerages. There’s a lot that offers one dollar, which is effectively a

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