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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. But, despite the weekly moves, the one bright spot for housing is that housing inventory is growing on a year-over-year basis.

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Why higher rates aren’t crashing home prices

Housing Wire

Home prices aren’t crashing, despite what the housing bubble boys are saying. In fact, home prices have firmed up higher recently. The housing bubble boys are a crew that from 2012 to 2019 screamed housing crash every year. I mean, it’s year 11 now of the housing bubble 2.0

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Solid jobs report sends mortgage rates lower

Housing Wire

Can we have a soft landing in the economy? Mortgage rates fell aggressively down to 6.20%, putting us at more than 1% below the highs of 2022. The bond market saw that wage growth was cooling down, leaving the Federal Reserve with few reasons to keep the rate hike story going much longer. Job report.

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Is inflation or recession driving mortgage rates now?

Housing Wire

On Tuesday, we got more confirmation that the Federal Reserve ‘s biggest fear — inflation blowing up to 1970s levels — isn’t happening, according to the CPI data. Even with its most significant component, shelter inflation, keeping core CPI higher than it should be, it’s been hard to accelerate the core data.

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The savagely unhealthy housing market is now a nightmare

Housing Wire

The housing nightmare continues. 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. million , down 3.4% from last year.

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The honey badger labor market will still bite housing

Housing Wire

On Friday, the Bureau of Labor Statistics reported that 261,000 jobs were created and we had 29,000 positive revisions to prior reports. This means the honey badger labor market will keep the Federal Reserve from pivoting anytime soon. . The labor market is actually running into a big theme of my economic work over the years.

Marketing 495
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Housing Market Tracker: Still no spring inventory lift

Housing Wire

Last week was relatively calm for the housing market after the fiasco of the banking crisis. Housing demand grew and inventory levels fell again while mortgage rates rose. Mortgage rates rose to 6.57%. That didn’t happen last week, which means we are more anchored in a lower level for now.

Marketing 484