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Logan Mohtashami’s 2023 housing market forecast

Housing Wire

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. Housing recession. That would be a positive for demand.

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The 2021 housing market recap by Logan Mohtashami

Housing Wire

A bullish housing market. economic recovery was a false story and that we were about to embark on a second housing bubble crash due to forbearance. The housing market didn’t crash at all, in fact, more Americans bought homes with mortgages in 2021 than in 2020. What a year 2021 has been. The excellent.

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Elevated borrowing costs remain the top worry for homebuilders

Housing Wire

Additionally, the competition from existing home sellers was somewhat absent. Department of Housing and Urban Development. single-family homes for sale were new construction, similar to the percentage from a year earlier and good for the highest level of any fourth quarter on record. Census Bureau and the U.S.

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Existing home sales are working from a historic low bar

Housing Wire

Our housing market tracker counts weekly active single-family listings, those homes that aren’t in the contract, and the raw available number of homes for sale. My entire theme around the savagely unhealthy housing market is based on the premise of too many people chasing too few homes.

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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. Yes, crazy to think, but this is a survey trend data line, and the housing market was in free-fall at that time.

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Homes in Boise, Idaho are “flying off the market”

Housing Wire

1 midsized housing market to watch in 2020 , according to Zillow, because of its draw for young professionals, families, and retirees alike. The demand is clear — the Boise housing market has just 0.3 months worth of housing inventory, which is the lowest ever, the report from Keller Williams said.

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Homebuyers increasingly seek ARMs as mortgage rates soar 

Housing Wire

The 30-year fixed-rate mortgage continues to remain just shy of 7% and is adversely impacting the housing market in the form of declining demand,” Sam Khater, Freddie Mac’s chief economist, said in a statement. Buyers, builders and sellers take a step back as inflation persists . A year ago at this time, rates averaged 3.09%.

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