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Purchase apps are at 2009 level: where’s the inventory?

Housing Wire

It’s an excellent time to discuss housing inventory. The housing market shifted in March of this year. As the 10-year yield broke above 1.94% and mortgage rates rose, we saw the impact on housing data. Today, however, the purchase application data is actually down to levels we saw in 2009 ! housing market.

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Homebuilders are primed for an even better 2024

Housing Wire

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. Let’s look at the new construction forecast for 2024. The business appears durable, too. million and 7.3

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Opinion: The ripple effect on the U.S. housing market from China’s real estate crisis

Housing Wire

The real estate market in China, both commercial and residential, have been unwinding over the last few years. in 2008 and 2009. Investors who have been burned by events in China may also start seeing ghosts in other markets and decide the risk profile is just too unfavorable. As the Chinese real estate market declines, the U.S.

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Fannie Mae raises 2023 origination forecast to $1.62T

Housing Wire

The lack of existing homes for sale on the market is driving a resurgence of home-price growth and supporting increases in new home construction, according to Fannie Mae ’s Economic & Strategic Research (ESR) group. The supply of existing homes is near the 2009 crisis low, and it’s showing no signs of easing. While the U.S.

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HECM program study assesses policy impacts of recent years

Housing Wire

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. A study commissioned by the U.S. Overview of findings The report was released to the public in November 2023.

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Housing starts reach nine-month high in December

Housing Wire

Department of Housing and Urban Development and the U.S. This is the highest level housing starts have reached in the past nine months. Construction of single-family homes dropped 2.3% from November to 1.172 million units, the construction of multifamily units again posted a sizable increase of 13.7% Census Bureau.

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MBA forecast for 2021: Prepare for rising mortgage interest rates

Housing Wire

At its Annual event Wednesday, Mortgage Bankers Association Chief Economist Mike Fratantoni forecast that interest rates could rise in the year to come, but that they will remain near all-time lows. Yes, it’s come down to 10 million, but look at how that compares again to the peak in 2009 of 6.6 Housing inventory and prices.

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