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Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. Housing markets continued to weaken, with sales and construction declining across [all 12 Federal Reserve] districts,” according to the Federal Reserve Beige Book released on Wednesday.

Inventory 375
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Fed’s Beige Book shows recent moderation in mortgage rates propped up demand for homes

Housing Wire

Moderation in mortgage rates led to a pickup in demand for residential real estate, but limited inventories across the country hindered actual home sales , the Federal Reserve reported in its Beige Book survey of regional business contacts that was published Wednesday.

Mortgage 346
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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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The nation’s housing market is on a correction course

Housing Wire

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. The market is going to go into correction,” he said. “I

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Existing home sales data shows extent of housing inflation

Housing Wire

The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . Since the summer of 2020, I have talked about what could change the housing market, which was a 10-year yield above 1.94%, which means rates over 4%.

Inventory 437
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My Forbes Column: Keeping Housing Market Results From The Public Is Never Justified: An Expansive View

Miller Samuel

Keeping Housing Market Results From The Public Is Never Justified: An Expansive View. When the Covid-19 crisis began halfway through March, the Manhattan housing market was placed on “pause,” as were many housing markets around the country. Days on market during Covid-19.

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Seattle Area Housing Market Remains Not for the Faint of Heart

Will Springer Realtor

The Seattle area housing market right now reads like a mystery novel with half the pages missing. The year in residential real estate nears its end amid twists and turns like a good book but it’s waiting for the storyline to improve as we fill out the empty pages in 2024. for the Seattle market (vs. higher YoY.