Here’s why new home sales are up along with prices Nov. 23rd 2022
We have 61,000 new homes completed for sale, amounting to 1.2 months of the supply, and 298,000 new homes are still under construction.
New home sales continued to yo-yo in October Nov. 23rd 2022
Despite October's nationwide uptick in new home sales, homebuilder confidence continues to slide, hitting its lowest level since June 2012 in November.
Days on market grow despite low inventory for existing homes Nov. 18th 2022
Total housing inventory fell in this report, the third report in a row that shows total inventory has decreased.
Even with falling rates, the housing market is shaping up to be bad in Q4 Nov. 18th 2022
Existing home sales in October were down 28.4% year over year, the largest year over year existing home sales decrease since 2007.
Builders apply the brakes amid canceled contracts Nov. 17th 2022
We all need to hope that builders can get the multifamily units onto the market for next year to drive rent inflation lower and lower.
Housing starts continued to slide in October amid ongoing challenges Nov. 17th 2022
The October annual housing start rate was down 8.8% on a year over year basis, according to a report from the Census Bureau and HUD.
Mortgage buydowns on the rise as builders try to entice more buyers Nov. 16th 2022
Builder confidence continued its downward spiral in November, and builders are now turning to mortgage buydowns to bring in buyers.
The empire strikes back on lower mortgage rates Nov. 14th 2022
This is the second time this year that the Fed empire has struck back after mortgage rates made a move lower.
Don’t expect a drop in home prices in 2023, NAR economist says Nov. 11th 2022
NAR Chief Economist Lawrence Yun expects there to be a further uptick in home prices in 2023, even if mortgage rates stay at or near 7%.
Mortgage rates collapse on softer inflation data Nov. 10th 2022
With the CPI inflation report being positive, the 10-year yield fell noticeably, and mortgage rates will fall with that.