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Why fewer homes are taking a price cut, even while inventory rises

Housing Wire

This calls into question a mortgage rate lockdown, as mortgage rates are also higher year over year. However, this data can move stronger in either direction when mortgage rates rise or fall aggressively. Demand is rising from a low bar, and total housing inventory levels are still historically low.

Mortgages 515
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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 inventory defied all predictions in 2023

Housing Wire

Looking back on 2023, the inventory story was a big surprise even as mortgage rates headed toward 8%, as the data below will show. This didn’t happen once in 2023 — even with rising mortgage rates. It surprised me that we didn’t get any upward movement on price cuts since home prices and rates were rising together.

Mortgages 515
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The savagely unhealthy housing market is now a nightmare

Housing Wire

Now that we are almost in July, we can safely say the premise that once mortgage rates hit 4%, the mass panic selling of American homeowners who need to get out at all costs, driving total inventory up in the millions, hasn’t happened. Now that mortgage rates have risen, demand is getting hit, while we are still showing 14.8%

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Days on market grow despite low inventory for existing homes

Housing Wire

This article , which I wrote in 2019, does show you the historical work in the past decade on the housing bubble talk. Last year starting in October, purchase application data had an abnormal volume rise toward the end of the year. The last two weeks have had positive weekly data of +1% and +4%. million in October 2021).

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Housing Market Tracker: Inventory is negative YOY

Housing Wire

Mortgage rates rose last week after the better-than-anticipated jobless claims data but even with higher rates, we also had a third week of positive purchase application data. A traditional seller is also a traditional buyer, and certain homeowners have refused to buy their next home with mortgage rates above 6%.

Marketing 458
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Will we start 2022 with all-time lows in housing inventory?

Housing Wire

My biggest concern for housing in the years 2020-2024 was that if the demographic push in demand picks up and total home sales get over 6. Since 2014, inventory levels have fallen while purchase application data has risen. Not even 5% mortgage rates in 2018 budged this data line too much. 2020 and 2021 easily each have over 6.2