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Dave Stevens on understanding this housing market

Housing Wire

I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. In many ways it was similar to today, with one exception: When I started, I hadn’t been spoiled by a housing market like the one in 2020 and 2021. economy, especially the mortgage and housing sector.

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New home sales make it clear: Housing is in a recession

Housing Wire

This data line confirms what we all know to be the case: The housing market, at least as it relates to construction, is in a recession. Since the summer of 2020, I have genuinely believed the housing market could change once the 10-year yield broke over 1.94%. . “I don’t expect a boom in housing construction.

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Are new home sales flagging a recession?

Housing Wire

A lot of the housing data was lagging the rate move, so it wasn’t apparent that higher rates impacted the data yet. Going back to the summer of 2020, the one factor that I said could change the housing market was the 10-year yield getting above 1.94%. Census Bureau and the Department of Housing and Urban Development.

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Low housing inventory a win for homebuilders

Housing Wire

However, with active listings now near all-time lows, the builders’ new homes still have more value in the housing market than what we saw in previous decades. Census Bureau and the Department of Housing and Urban Development. percent (±15.3 percent)* above the revised January rate of 633,000, but is 19.0

Inventory 543
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New home sales report boosted by positive revisions

Housing Wire

family houses in January 2022 were at a seasonally adjusted annual rate of 801,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. I have always stressed this because many extreme housing bears in America are just side-hustling professional grifters.

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Builders only have 76,000 completed new homes for sale

Housing Wire

From Census : New home sales Sales of new single‐family houses in August 2023 were at a seasonally adjusted annual rate of 675,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. The existing home market is only sitting at 3.3 percent (±15.6

Inventory 489
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Homelessness is not an unsolvable problem

Housing Wire

However, some cities have made real progress in reducing homelessness, including the Dallas/Fort Worth metroplex, where Housing Forward , formerly Metro Dallas Homeless Alliance (MDHA), is proving that a housing-first approach can work. Housing Forward was founded in 2002 and is structured as a non-profit 501(c)(3) organization.

Landlords 367