Housing Wire
DECEMBER 7, 2022
Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? However, mortgage rates have fallen more than 1% since the recent highs, so it’s time to look at the data to explain how to interpret it.
Housing Wire
NOVEMBER 9, 2022
In the summer of 2020, I talked about how the housing market would change, but it needed the 10-year yield to break over 1.94%, which roughly means 4% plus mortgage rates. This time around, we have not seen the kind of housing credit boom that we did from 2002-2005. New listing data is down 5% year to date, as you can imagine.
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Housing Wire
JANUARY 20, 2023
From NAR : “December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates ,” said NAR Chief Economist Lawrence Yun. However, expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year.” During that period, we saw new listing data decline.
Housing Wire
AUGUST 30, 2022
However, we haven’t had a credit sales boom like the one we saw from 2002-2005. Total Inventory had been growing from 2001-2005; total listings data in 2005 was at the higher historical range of 2.5 million listings. I don’t need to see total active listing get back to the historical range of 2-2.5 From Redfin.
Housing Wire
SEPTEMBER 22, 2022
Even though this was a beat of estimates, the sales decline trend due to higher mortgage rates and home prices continues. 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. . However, it’s not the market of 2002-2011.
Housing Wire
OCTOBER 11, 2022
To top it all off, we started 2022 at all-time lows, forcing bidding action everywhere until mortgage rates rose. And we aren’t talking about your grandfather’s mortgage rates rising; we went from 2.5% However, with price growth and mortgage rates skyrocketing, the hit to affordability is historic. Currently, we are at 3.2
Lamacchia Realty
JANUARY 25, 2024
Sales were down in all three categories: Single family sales down by 19%: 11,625 in 2023 from 14,359 in 2022 Condo sales down by 15.7%: 3,839 in 2023 from 4,555 in 2022 Multi-family sales down by 29.5%: 853 in 2023 from 1,210 in 2022 Below is a bar graph that depicts home sales per year since 2002. Will the 2024 Real Estate Market Improve?
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