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Existing home sales are working from a historic low bar

Housing Wire

Since making some holiday adjustments, we have seen a seven-week positive trend in purchase apps since November. We are working in the third calendar year of great recession lows in demand, with a population of over 335 million and over 157 million people working. It happened in 2008 and then didn’t happen again until 2023.

Sales 473
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Logan Mohtashami: The 2022 housing forecast

Housing Wire

Even in the extreme conditions of COVID-19, my general premise on housing economics predicted that the two variables with the most influence — demographics and mortgage rates — would hold up the housing market. The 10-year yield and mortgage rates. That range dictated that mortgage rates would roughly stay between 3.5%-4.75%.

Mortgages 544
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5 Silver Linings for Home Buyers in 2023

HomeLight

Everything from stubborn inflation and increasing mortgage rates to potential home price declines could cause potential buyers to rethink a new home investment. Competition has fallen from highs Home sales were on a tear throughout the pandemic, hitting the highest levels since 2006. A year and a half ago, it was unheard of.