article thumbnail

Is the savagely unhealthy housing market back?

Housing Wire

Just when I thought days on market were returning to normal, that number for existing homes fell back down to 22 days. If the days on the market are at a teenager level or even lower, it’s never a good sign for the housing market. In 2007, for context, we were a tad above 4 million. Why is this so important to me?

article thumbnail

This savagely unhealthy housing market needs higher rates

Housing Wire

The National Association of Realtors reported Thursday that existing home sales for April came in at 5.61 million , with double-digit home-price growth driving a housing market that is still savagely unhealthy. My rule to get the housing market out of the unhealthy stage is that we need total inventory back between 1.52

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Even with falling rates, the housing market is shaping up to be bad in Q4

Housing Wire

That’s the largest year over year existing home sales decrease since 2007. More potential homebuyers were squeezed out from qualifying for a mortgage in October as mortgage rates climbed higher,” National Association of Realtors Chief Economist Lawrence Yun said in a statement. Total housing inventory at the end of October was 1.22

article thumbnail

Why are existing home prices rising when sales are still so low?

Housing Wire

This is a byproduct of the qualified mortgage rule of 2010, which has been a game-changer not only for the housing market but for the overall U.S. million active listings per the last report, we have 526,000 per our last Housing Market Tracker article. million, and in 2007, it peaked at 4 million. million in March.

Inventory 487
article thumbnail

HousingWire Annual: Logan Mohtashami covers what’s happening with bonds, mortgage rates

Housing Wire

In his keynote session to kick off the event, Mohtashami highlighted how the Fed feels increasingly uncomfortable with the speed at which the bond market is rising. for the first time since 2007. He noted the benchmark 10-year Treasury yield edged 4.8% The third-annual HousingWire event runs Oct. 10-12 at the Hyatt Lost Pines.

Mortgage 312
article thumbnail

Lincoln slog: Why home prices don’t rise in Springfield

Housing Wire

Barack Obama uttered those words on the footsteps of the Illinois state capitol in 2007 – a speech where the former Illinois state senator declared his candidacy for president. median home price of $207,000.

Realtors 358
article thumbnail

Days on market grow despite low inventory for existing homes

Housing Wire

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. The Federal Reserve wanted to see the bidding wars end and the days on the market grow. months to 3.3

Inventory 472