Remove 2015 Remove Construction Remove Housing Market Remove Sellers
article thumbnail

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.

article thumbnail

The new home sales recession continues

Housing Wire

The housing market is in a recession, something that the homebuilders and the National Association of Realtors now agree with me on, as this recent CNBC clip shows. family houses in July 2022 were at a seasonally adjusted annual rate of 511,000, according to estimates released jointly today by the U.S. This is 12.6 percent (±16.9

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Flyhomes looks to grow via wholesale channel

Housing Wire

While many proptech companies have struggled to adapt to the slower housing market conditions and challenging venture capital environment, Flyhomes is viewing this as a time to grow. This is just one more arrow in their quiver.”

article thumbnail

New home sales are at risk with rising mortgage rates ?

Housing Wire

We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housing market was last year — and it got a lot worse this year — it’s a blessing that was much needed. As you can see below, the new home sales market from 2018-2022 doesn’t look like the housing market we had from 2002-2005.

Mortgage 440
article thumbnail

Why housing inventory is so low right now

Housing Wire

Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. We had a few years where sales missed expectations in 2013, 2014, and 2015. million total housing starts until 2020-2024, when demand would warrant that many housing starts.

Inventory 494
article thumbnail

Why housing inventory is so low right now

Housing Wire

Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset. We had a few years where sales missed expectations in 2013, 2014, and 2015. million total housing starts until 2020-2024, when demand would warrant that many housing starts.

Inventory 404
article thumbnail

New home sales battled scorching prices in April

Housing Wire

Of that $93,870, $41,330 is attributable to regulation during development, and $52,540 is due to regulation during construction. In March, Redfin reported almost two-thirds (63%) of people who bought a home in 2020 made an offer on a property they hadn’t seen in person, up from 32% a year earlier and the highest share since at least 2015.