HousingWire We have more listings, more active inventory and more sales than a year ago. By Mike Simonsen With the Easter holiday last week, data for housing inventory, new listings and the pace of new contracts started all took a breather from their growth pace. Each of those notched down from a week ago and compared to …
CALCULATEDRISK By Bill McBride This 2-part overview for mid-April provides a snapshot of the current housing market. I always like to start with inventory, since inventory usually tells the tale! And currently inventory is increasing year-over-year but is still well below pre-pandemic levels. New Listings for Existing Homes Up Year-over-year in February Here is a graph of …
Freddie Mac Mortgage rates showed little movement again this week, hovering around 6.8 percent. Since the start of 2024, the 30-year fixed-rate mortgage has not reached seven percent but has not dropped below 6.6 percent either. While incoming economic signals indicate lower rates of inflation, we do not expect rates will decrease meaningfully in the …
CNNSurging gas prices and sky-high mortgages and rent sent inflation rising more than expected in March, adding to Americans’ prolonged and painful battle with high costs. That could force the Federal Reserve to keep its punishing rates higher for longer. US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price …
CALCULATEDRISK By Bill McBride Almost a year ago I wrote: House Price Battle Royale: Low Inventory vs Affordability. Here is an update as the battle continues! I’ve been wrestling with the impact on house prices of the rapid increase in mortgage rates and monthly payments over the last two years. My reaction was the current situation …
HousingWire And the price-cut percentage points to cooling home prices By Logan Mohtashami Weekly housing inventory data — both active inventory and new listings — are prone to one-week moves that deviate from a trend, especially if people are going Easter egg hunting. So, the fact that active inventory and new listings data fell last week …
HousingWiree The labor market isn’t breaking, but it’s less tight By Logan Mohtashami Last Friday’s jobs report beat estimates, but the internals show the labor market is softening, as the Federal Reserve wants. The data shows that wage growth is cooling down and the job opening quits rate is below pre-COVID-19 levels. This bodes well for those hoping to …
HousingWire Altos data shows we only need stability in mortgage rates for a rebound in home sales By Mike Simonsen Everyone knows it’s been a very dry 18 months for home sales. As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. At the same time, seller volume dried up. But …
Real Estate News There are more green shoots for would-be home buyers this spring as inventory grows to its highest point since 2020, according to Realtor.com’s monthly report. Key points: It’s still a difficult environment this spring, but there are hopeful signs for potential home buyers. Price reductions are becoming more prevalent as homes actively …
KCM Buying a home this spring? You’re probably navigating today’s affordability challenges and dealing with the limited number of homes for sale. But, what if there was a solution that could help with both? If you’re having a hard time finding a home you love, and mortgage rates are putting pressure on your budget, it may be time to look …
