Ok, we’re rolling now!
There are 337 NSDCC active listings today.
We didn’t hit that number until mid-March last year, and in 2023 we didn’t reach that many until mid-May!
The number of pendings did rebound but they are still under where they were in the last two years.
As more and more active (unsold) listings pile up, will sellers get nervous and adjust on price?
It doesn’t look like it. In fact, they look more confident than ever, judging by the last three months. The median asking price has risen +29% since the beginning of November!!
The $0 – $2,000,000 Market:
| Date | ||||
| Jan 6, 2025 | ||||
| Jan 13 | ||||
| Jan 20 | ||||
| Jan 27 |
The $2,000,000 – $3,000,000 Market:
| Date | ||||
| Jan 6, 2025 | ||||
| Jan 13 | ||||
| Jan 20 | ||||
| Jan 27 |
The $3,000,000 – $4,000,000 Market:
| Date | ||||
| Jan 6, 2025 | ||||
| Jan 13 | ||||
| Jan 20 | ||||
| Jan 27 |
The $4,000,000+ Market:
| Date | ||||
| Jan 6, 2025 | ||||
| Jan 13 | ||||
| Jan 20 | ||||
| Jan 27 |
NSDCC Weekly New Listings and New Pendings
| Week | ||||
| Jan 6 | ||||
| Jan 13 | ||||
| Jan 20 | ||||
| Jan 27 |
NSDCC List Price Quartiles
| Week | |||
| Jan 6 | |||
| Jan 13 | |||
| Jan 20 | |||
| Jan 27 |
The housing market’s outlook this year depends again on mortgage rates, said Rick Palacios Jr., director of research at John Burns Research & Consulting.
“The starting point for 2025 is, you’re kind of already starting in a spot with not that much momentum,” he said. “I don’t really see how that thesis reverses and gets more optimistic as long as mortgage rates stay at 7%.”
Still, some economists are optimistic that sales can gain momentum going into the crucial spring selling season, when activity tends to peak. In December, existing-home sales increased for the third straight time on a monthly basis. That hasn’t happened since 2021.
“This could be a sign that buyers and sellers may be coming to terms with a higher interest rate environment,” said Priscilla Thiagamoorthy, senior economist at BMO Capital Markets.
Even so, existing home sales in December were 20% lower than the average pace in 2019, according to Wells Fargo.
The housing market is struggling to shake off one of the worst sales slumps in recent memory, marking the second straight year that sales of previously owned homes stood at the lowest level since 1995.
The U.S. population has grown by about a quarter since the mid-1990s, so the weak home sales numbers are even more dramatic today.
“How is it that home sales are so low while home prices are so high?” said Lawrence Yun, NAR’s chief economist. “Inventory appears to be a big factor driving sales.”
The number of NSDCC new listings in January is 184 today – which should mean 220-230?
Happy birthday Jaime ! I think that’s jimmy in Spanish – hey is jim short for jimmy or jim short for james . Wow never stopped to think about it – Feliz Birthday.
Ran across this today. Anything to comment about it ? Cheers
https://x.com/zerohedge/status/1884983184728670313?s=46
Flesh wound…sales are fine around here.
Thanks for the birthday wishes. I’m hoping to take the day off (Saturday) but it’s not looking good.