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New home sales are at risk with rising mortgage rates ?

Housing Wire

Census Bureau and the Department of Housing and Urban Development. 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. Could you imagine this housing market if we eased lending standards? months and above, the builders will pull back on construction.

Mortgage 481
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Wow — 6 million existing home sales! However, context is key with 2020 housing market data

Housing Wire

I have said for many years that we wouldn’t see total housing construction start a year at 1.5 million until the years 2020-2024 because we would need to start the year with over 737,000 new home sales in order for developers to see the need for that amount of building. The median sales price is now 11.4% higher than a year ago.

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Rocket’s IPO makes Dan Gilbert the 28th richest person in the world

Housing Wire

He also is chairman of Rock Ventures , which “has invested and committed billions to acquiring and developing more than 100 properties, including new construction of ground-up developments in downtown Detroit and Cleveland, totalling more than 18 million square feet in Detroit’s downtown urban core,” according to the IPO’s prospectus.

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FED’S ACTIONS TAKE STEAM OUT OF HOUSING MARKET

Will Springer Realtor

While investors of mortgaged securities help dictate their interest rates, the Federal Reserve is behind the scenes influencing the overall lending environment. We are now seeing “7s” in front of some rates to new mortgage consumers – a figure not seen since April 2002 – causing applications for new loans to hit a 25-year low this month. (