Remove 2013 Remove Construction Remove Housing Market Remove Mortgage
article thumbnail

Logan Mohtashami’s 2023 housing market forecast

Housing Wire

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. From 2013 to 2022 I forecasted price growth every year.

article thumbnail

Beware of gloom and doom housing market crash headlines

Housing Wire

I’m talking about housing market crash headlines. The housing data has been wild this year. These dramatic peaks and valleys in the data have fed the demons of greed and fear that infest the minds our extreme housing bulls and the fierce housing market bears – leading to equally wild speculations about the future of U.S.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Builders are feeling cautiously optimistic thanks to lower mortgage rates

Housing Wire

Temperatures are slowly starting to rise in many parts of the country as we head into spring — and so is homebuilder sentiment, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Wednesday. Builders are continuing to offer a variety of incentives.

Mortgage 374
article thumbnail

Housing starts data lags reality of higher mortgage rates

Housing Wire

Census Bureau released their new residential construction report for April, showing a miss on the estimate and a negative revisions data line, which I believe is lagging behind the current market reality. Housing starts came in at 1.724 million , and housing permits came in at 1.819 million — both are still very healthy numbers.

Mortgage 449
article thumbnail

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%. In response, they stalled construction for 30 months.

article thumbnail

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. This sector on an apples-to-apples basis is more expensive than the existing home sales market. percent (±11.9

Mortgage 442
article thumbnail

Can lower mortgage rates stop the housing recession?

Housing Wire

To say that mortgage rates have been on a wild Mr. Toad’s ride in 2022 is an understatement. People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% We saw this in 2013-2014 and 2018-2019.

Mortgage 498