Housing Wire
JANUARY 20, 2023
On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. million in January down to about 4 million in December, We now have total inventory levels near all-time lows again. In one of the most historical years in the U.S.
Housing Wire
AUGUST 9, 2023
The rate for FHA mortgages increased to 7.02%, its highest rate since 2002. The purchase index fell for the fourth consecutive week, as homebuyers continue to struggle with low for-sale inventory and elevated mortgage rates, added Kan. The average contract interest rate for 5/1 ARMs climbed to 6.36% from 6.18% a week prior.
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Housing Wire
SEPTEMBER 22, 2022
From NAR Research : “Total existing-home sales notched a minor contraction of 0.4% Total Inventory data fell in this report from 1.31 It doesn’t even look like we will breach the lower level of my inventory wish list of 1.52 I am a big fan of inventory to 2019 levels. Unsold inventory sits at a 3.2-month
Housing Wire
NOVEMBER 17, 2022
For the builders, they have a new problem: they had homes under contract and then mortgage rates jumped in the biggest fashion ever recorded in history. If the builders could, they would take some of the past contracts back, but they’re just stuck with these homes. I personally wouldn’t do it.
Housing Wire
MAY 24, 2022
As you can see, sales levels were never elevated like what we saw from 2002-2005. This housing cycle is and will always be based on real demand, versus the credit boom we saw from 2002 to 2005. However, this isn’t going to help much because the existing home sales market has a different inventory channel. What do we have now?
Housing Wire
JULY 6, 2023
The purchase deal includes Truland’s homebuilding assets, which consist of approximately 263 lots, 155 homes in inventory, and 55 homes in the sales order backlog. Horton has been the largest homebuilder by volume in the United States since 2002. “We are excited for the Truland team to join the D.R. ” D.R.
Housing Wire
MARCH 17, 2022
In fact, considering the drop in builders’ confidence, now we have to watch for whether some people will cancel their building contracts because rates have jumped so much while they’ve been waiting for their new home to be built. The February rate for units in buildings with five units or more was 501,000. Housing completions.
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