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Lower mortgage rates are stabilizing the housing market

Housing Wire

For months I have been saying we were going to have challenging comps from October to January because last year at this time mortgage volume was rising — a rare event this late in the year. Since they were distressed forced sellers, inventory skyrocketed in 2006 and stayed very elevated in 2007 and 2008. Total inventory levels.

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The standoff between homebuyers and sellers

Housing Wire

There’s a showdown at the housing market corral between homebuyers and sellers. When I came up with the “ savagely unhealthy housing market ” label in February of this year, it was based on the premise that the housing inflation story that we have had to deal with since 2020 was a historical event.

Sellers 498
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Even super hot housing markets like LA are cooling off

Housing Wire

Local real estate agents, loan officers and appraisers from each city share what characteristics are currently defining their housing markets. 1 housing market for spring 2022, there is no doubt that the housing market in Rapid City is one to watch. Rapid City, South Dakota. Rapid City, South Dakota.

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DataDigest: Boomers and the refi boom reckoning

Housing Wire

They’re actually disincentivized given that they’d face a housing market where home prices are 36% higher than they were pre-pandemic and the cost of financing is up significantly. It seems increasingly likely that the COVID refi boom will prove to be the most consequential event in housing in modern American history.

Inventory 353
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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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What’s next after a historic housing boom?

Housing Wire

After the series wraps early next year, join us on February 8 for the HW+ Virtual 2022 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for next year, along with a roundtable discussion on how these insights apply to your business.

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Appraising Well in a Fast-Changing Market

Appraisal Buzz

I am in the camp with many that believe the market will continue to feel price pressure, at least until inventory levels begin to return to normal (2019 or early 2020 levels, at least). Why inventory levels matter to appraisers. Inventory levels have an impact on property valuation, at least in the short term.

Appraisal 370