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The housing market slowdown has only just begun: Fannie Mae

Housing Wire

Economists at Fannie Mae say the Federal Reserve ‘s fiscal policy is having its desired effect on the housing market – home price growth began to slow in the summer, and the GSE says the housing slowdown will continue through 2023. The mortgage market is projected to slip further to $2.17 month supply, up from 1.6

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Despite lack of supply, existing home sales rise 6.7%

Housing Wire

Homebuyers flocked to what little inventory existed in January, with existing-home sales rising 6.7% annually to $350,000, according to the Friday report from the National Association of Realtors. The supply of homes for sale fell to a record low, down 16.5% from the prior month to a seasonally adjusted annual rate of 6.5

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Housing market inventory is starting to recover

Housing Wire

Single-family housing starts rose 15.3% That’s up 37% from a year ago, but it’s important to take into account that the COVID-19 virus first took hold of the housing market in March 2020, said Doug Duncan, chief economist at Fannie Mae. That’s depleting inventory across the country. from February.

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What to Expect from the Real Estate Market This Winter

Eppraisal

High demand and low inventory have lifted home prices nearly 20 percent over what they were in the autumn of 2020. Yet if history demonstrates anything, it reveals the cyclical nature of the real estate market. Young families are in need of housing so forbidding economic conditions will not be enough to postpone a home purchase.

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Dearth of new construction strains migration hotspot of Alabama

Housing Wire

We are very bullish on Alabama and its long-term prospects,” Jeremy Walker, CEO of the Alabama Realtors Association , said. “We Walker said the prospect of lower mortgage rates is prompting many agents to feel more positive about the 2024 housing market. As of Feb. According to data from Altos Research, as of Feb.

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Existing home sales dip 6.6% amid supply struggles

Housing Wire

Rising home prices, limited inventory and the uptick in mortgage rates continued to deter some homebuyers last month as sales of existing homes fell 6.6% million, according to the National Association of Realtors. The median existing-home price for all housing types in February was $313,000, up 15.8% Presented by: Fannie Mae.

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Pending home sales drop, but there’s a silver lining

Housing Wire

in January from December, according to a report from the National Association of Realtors. And inventory shortages are the culprit. Despite the decline, many industry observers see big potential for the housing market in the year ahead. For the fifth consecutive month , U.S. January was illustrative.