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How home-price growth has damaged the housing market

Housing Wire

Imagine if mortgage rates didn’t rise this year. We are still showing double-digit home-price growth trends in the recent data as it takes time for higher mortgage rates to really increase supply back to normal levels. Since 2014, we’ve not seen the credit housing boom that we saw from 2002-2005. million or higher.

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Regions Bank places $1B bet on home renovation market

Housing Wire

The Salt Lake City-based lender says it’s worked with over 1 million homeowners since its founding in 2002 and funded $11.6 EnerBank says it works with 10,000 contractors and develops personalized loan programs for their clients. EnerBank, a Utah-based subsidiary of publicly traded CMS Energy , has loan balances totaling $2.8

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Low housing inventory a win for homebuilders

Housing Wire

If there’s one sector of the economy that benefits from the very low levels of total housing inventory , it’s the homebuilders , but for a reason you might not think. If national housing inventory were back to normal, we would have 2 to 2.5 Census Bureau and the Department of Housing and Urban Development. percent (±15.3

Inventory 544
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New home sales are at risk with rising mortgage rates ?

Housing Wire

We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housing market was last year — and it got a lot worse this year — it’s a blessing that was much needed. million line in the sand has been this: Home prices grow above that 23% level: check Mortgage rates spike higher: check.

Mortgage 498
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Builders only have 76,000 completed new homes for sale

Housing Wire

New home sales missed estimates today but had three months of positive revisions, which continues the story of the builders managing the higher mortgage rate environment. However, higher mortgage rates make it harder and harder to pull some of those deals off. Census Bureau and the Department of Housing and Urban Development.

Inventory 505
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Are new home sales flagging a recession?

Housing Wire

A few months ago, I wrote that the new home sales sector is at risk because of rising mortgage rates. Census Bureau and the Department of Housing and Urban Development. As you can see, sales levels were never elevated like what we saw from 2002-2005. However, this is much different than what we saw from 2002-to 2005.

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New home sales beats estimates, but what does it mean?

Housing Wire

Census Bureau and the Department of Housing and Urban Development. As you can see below, new home sales are still below the 2000 recession level, and we just had a significant spike in mortgage rates too. These monthly reports can be very wild, and I anticipate big swings in the reports until things calm down with mortgage rates.

Inventory 486