Housing inventory should reach pre-pandemic levels by the end of 2024, according to the results of Zillow’s latest Home Price Expectations Survey. More than 100 market experts and economists weighed in to predict upcoming trends.

“Buyer demand is still intense, but it’s as simple as ‘one cannot buy what is not for sale.” — National Association of REALTORS® chief economist Lawrence Yun  

The report revealed that sales listed in the Multiple Listing Service for February increased to 1,565 from 1,521 in January.

Greater Houston’s volume of new listings saw a 14.2% year-over-year decrease in week 11, according to the Houston Association of REALTORS® (HAR) weekly activity snapshot.

Affordability and supply-chain issues continued to weigh on the sales of new single-family residences.

What does the current generation of homebuyers and sellers look like? How old are they and how are they doing business? NAR has answers.

Greater Houston saw the most significant increase in the U.S. for year-over-year home sales in February, according to the latest RE/MAX National Housing Report. Home sales were up nearly 21% from the same month in 2021. 

The median existing-home price for all housing types in February was $357,300, up 15% from a year before, as median prices rose in each region.    

“More groundbreaking is welcome news for a supply-starved housing market.” — First American deputy chief economist Odeta Kushi 

Realtors entered 2,492 properties into the Multiple Listing Service (MLS) in week 10, a 9.6% drop from the same week in 2021, according to the Houston Association of REALTORS® weekly activity snapshot.

The measurement of six-month sales expectations among homebuilders took an especially negative turn in March, according to the National Association of Home Builders. 

“Investors are weighing the impacts of rapidly increasing inflation in the U.S. and many other parts of the world against the potential for a slowdown in economic growth due to a renewed bout of supply-chain constraints.” — MBA associate vice president of economic and industry forecasting Joel Kan

Of the homes that went under contract during the four weeks ended March 6, 58% had an accepted offer within the first two weeks of going on the market, and 45% had an accepted offer within just one week, Redfin reported.

Foreign buyers accounted for less than 2% of U.S. residential real estate transactions last year, and Russian buyers accounted for less than 1% of those, the National Association of REALTORS® reported. 

“Looking ahead, the potential for higher inflation amidst disruptions in oil and other commodity flows will likely lead to a period of volatility in rates.” — MBA associate vice president of economic and industry forecasting Joel Kan 

Despite the slight uptick in new listings from last week, Houston’s numbers during the first week of March remained statistically flat compared to the same week in 2021.