Real Estate News 03/08/2024

Today’s News Synopsis:

New listings rose 13% from a year earlier nationwide during the four weeks ending March 3, the biggest increase in nearly three years. The boost in new listings helped bring the total number of homes for sale up 1.7%. Following eight months of declines, February is the first month the number of homes for sale has increased on an annual basis.

In The News:

Redfin – “Housing Market Update: Supply Ticked Up in February for First Time in 8 Months“ (03-07-24)

“There are more homes for sale as spring approaches, and house hunters are hitting the pavement. Home touring activity is rising, and mortgage-purchase applications are up 11% this week.”

CNBC –  “Here’s when you should expect to receive your tax refund in 2024“ (03-04-2024)

“The IRS encourages taxpayers to leave enough time to gather documents and deal with any issues ahead of the deadline. ”

Zillow –  “Understanding Housing Markets” (03-06-24)

“Zillow Research looks at metrics that capture the competition experienced between buyers and sellers in U.S. housing markets like days to pending (of homes that successfully went under contract; age of inventory, which includes mis-priced and languishing listings coming soon), ever-active inventory, and the percentage of listings with a price cut.”

Fannie Mae – “Home-Selling Sentiment Moves Higher Ahead of Spring Homebuying Season” (03-07-2024)

“The Fannie Mae Home Purchase Sentiment Index^®  increased 2.1 points in February to 72.8, inching higher for the third consecutive month, due primarily to increased optimism around home-selling conditions.”

Inman –  “This first-time homebuyer program is like winning the lottery” (03-07-24)

“A shared appreciation loan program that provides down payments for first-time homebuyers in California has proved so popular that this year, applicants will be selected through a lottery.”