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Housing inventory fell last week, but it won’t derail the spring bump

Housing Wire

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 isn’t a big deal. housing market, and we should ignore the decline last week.

Mortgages 473
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Why higher rates aren’t crashing home prices

Housing Wire

In 2022 it was all about finding a point in time when I thought mortgage rates would fall, which was key to understanding how the purchase application data would react to lower mortgage rates. In 2022, mortgage rates got as high as 7.37%, so the question was: how low do rates have to go for housing demand to get better?

Mortgages 546
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Housing Market Tracker: Inventory is negative YOY

Housing Wire

Housing inventory finally broke under 2022 levels last week. To give you an idea how different this year is from last year, last week in 2022, active listings grew 30,940 while this year they only grew 5,848. As you can see in the chart below, 2023 inventory growth is very slow compared to 2022.

Marketing 458
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Existing home sales are working from a historic low bar

Housing Wire

Today, we saw existing home sales slip a bit month to month, which isn’t surprising to me as purchase application data started its positive run in November. Since making some holiday adjustments, we have seen a seven-week positive trend in purchase apps since November. From NAR : Existing-home sales waned 1.0% Sales faded 6.2%

Sales 473
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Here’s why new home sales are up along with prices

Housing Wire

This data line has always been key to my work, which has run well with the builder’s confidence data that has gone into waterfall collapse mode, as you can see below. Hopefully, I can make sense of this report, which showed the home sales beat estimates with prices still at all-time highs.

Sales 466
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FHFA House Price Index: Q1 2023 Reveals Record Highs and Regional Trends

Broke Agent Media

Dr. Anju Vajja Principal Associate Director in FHFA’s Division of Research and Statistics HousingWire’s Logan Mohtashami explained why this is happening in a recent article while debunking some popular myths about inventory. drop and the Mountain division coming in second with a 0.1% Source: FHFA U.S. North Carolina, 9.4% Vermont, 8.8%

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Housing Market 2020 Forecast: Will It Crash or Recover?

Marco Santarelli

Low mortgage rates, population growth, and an increase in buyer interest are further driving the demand for available housing. Record low mortgage rates are providing opportunities for buyers to lock-in low monthly mortgage payments for future years. nationwide for the week ending July 25, posting a 2.7 percent in July.

Marketing 145