Last week, housing inventory grew and the number of price cuts fell, which is expected at this time of the year. I hope the next thing we see is housing inventory grow... Read more »
Going into 2023, people thought housing inventory would skyrocket, home prices would crash, and we would see the housing market of 2008 all over again. We created this weekly tracker at the... Read more »
U.S. house prices rallied again in the third quarter of 2023. In fact, home prices rose 2.1% quarter over quarter and 5.5% year over year in Q3, according to the Federal Housing... Read more »
Purchase application data Now that mortgage rates have fallen from a bit over 8% toward 7.32%, we can see the immediate impact as purchase application data was positive for the third straight... Read more »
Last week, I asserted that housing inventory growth had finished for the year. Turns out I was wrong! This week, the available inventory of unsold single-family homes crept up minimally. It looks... Read more »
On the construction side, homebuilders as well as land developers found it hard to finance projects because of high short-term interest rates. On the consumer side, a large number of prospective buyers... Read more »
Weekly housing inventory data All I wanted for Thanksgiving and Christmas was just a few weeks of active inventory growth between 11,000 – 17,000. But even with mortgage rates getting as high... Read more »
Weekly housing inventory data Even though I haven’t been able to hit my target level of 11,000 -17,000 weekly inventory growth levels in 2023 with higher rates, it is clear that higher... Read more »
Available inventory of unsold homes rose by 1.8% this week. It’s quite clear that homebuyers have hit the brakes waiting to see if mortgage rates recede from these multi-decade highs. The leading... Read more »