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Housing Market Tracker: Mortgage rates and inventory fall together

Housing Wire

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. In a regular market, they would be closer to 5.25%.

Inventory 434
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Will a wider war in the Middle East push mortgage rates higher or lower?

Housing Wire

Some argue that money will go into the safety of the bond market, while others say a wider war can lead to higher inflation and higher rates. Now, with the specter of a wider war in the Middle East as Iran launches strikes against Israel , what will the bond market do? The week ahead will answer some of those questions early on.

Inventory 422
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New listings data falls for third week in a row 

Housing Wire

The moves haven’t been significant and our weekly pending contracts data picked up this week. Weekly housing inventory data For the third consecutive week, we haven’t quite reached my weekly target of inventory growth between 11,000 and 17,000 homes. When mortgage rates increase, demand falls and the price-cut percentage grows.

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Mortgage rates hold steady at key level for now

Housing Wire

Mortgage rates were lower in late 2022 and early 2023 with a higher inflation growth rate and the Fed still hiking because the bond market anticipated a Fed pivot or a recession, neither of which happened. Weekly housing inventory data My favorite housing data line for 2024 has been seeing the increase in inventory year over year.

Mortgage 445
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Home Sales are Falling in Cuyahoga County While Prices Continue to Increase

Cleveland Appraisal Blog

I was talking to a real estate agent recently who said that her sellers are scared about a significant downturn in the market and missing out on the higher values. The agent went on to mention that many people she knows would like to sell their home but are afraid of not finding another one because inventory levels are so low.

Inventory 333
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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. Over the years, I have tried to emphasize that the housing market in the U.S. We had missed sales estimates in 2013, 2014 and 2015. This is 12.6 percent (±16.9

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Is The Real Estate Market Shifting?

Birmingham Appraisal

Has There Been a Shift In The Real Estate Market? From all indications, there has been a definite shift in the real estate market. The recent increase in interest rates has injected another variable into the market that participants are reacting to. This is yet another indication of a shifting market.