Almost one year ago, Redfin CEO Glenn Kelman spoke with Bloomberg Radio about the state of the US housing market, and said that the ongoing surge in home prices could subside.
Newsfeed: US Existing Home Sales Slump Near 2-Year Lows As Mortgage Rates Soar Read More »
As mortgage rates rise, homebuilder sentiment slips, and home sales weaken, analysts expected housing permits and starts to fall MoM in March but, thanks in part to downward revisions for Feb’s data, Housing Starts surprised with a +0.3% MoM rise (vs -1.6% MoM exp) and Permits up 0.4% MoM (vs -2.4% MoM exp)…
Newsfeed: Multi-Family Unit Surge Sparks Rise in Housing Starts, Permits In March Read More »
Almost one year ago, Redfin CEO Glenn Kelman spoke with Bloomberg Radio about the state of the US housing market, and said that the ongoing surge in home prices could subside.
Starting March of 2021, the National Association of Realtors (NAR) made Housing Affordability Data available to the St. Louis Fed.
Newsfeed: Housing Affordability Declines Nearly 23 Percent In Less Than a Year Read More »
The National Association of Realtors (NAR) estimates millions of Americans have been priced out of the housing market since January as sky-rocketing mortgage rates spark an affordability crisis.
30 Year fixed mortgage rates have jumped 160bp this year, reaching the highest since November 2018, with the latest Freddie Mac data showing an acceleration in mortgage rates which jumped a quarter point in just the past week, from 4.42% to 4.67%.
Newsfeed: Biggest Housing Affordability Shock In History Incoming Read More »
Despite the unexpected plunge in existing home sales, analysts expected new home sales in February to rebound modestly from January’s drop but they were wrong (again) as new home sales fell 2.0% (+1.1% exp) and worse still January’s 4.5% drop was revised drastically worse to a 8.4% plunge.
Newsfeed: New Home Sales Unexpectedly Tumble In February As Mortgage Apps Crash Read More »