After surging far more than expected in December and January (and beaten expectations in each of the last six months), new home sales were expected to slide in February (despite the unexpected jump in existing home sales as mortgage rates took a pause from their blast off higher).
Newsfeed: New Home Sales Unexpectedly ‘Rose’ In February, Median Price Rebounds Read More »
Existing home sales in February jumped 14.5% to an annualized rate of 4.58 million, the largest monthly percentage increase since July 2020 and ending a 12-month slide, data from the National Association of Realtors out Tuesday showed.
Newsfeed: Existing home sales jump in February as mortgage rates fall Read More »
Privately owned housing starts in February came in at a seasonally adjusted annual rate of 1,450,000. This is 9.8 percent above the revised January estimate of 1,321,000, a much bigger jump than the expected 0.1 percent increase.
Newsfeed: Breitbart Business Digest: Light at the End of the Housing Tunnel Read More »
The NAHB index rose two points to 44 in March, according to a Wednesday press release. The mild rise in homebuilder confidence exceeded economists’ expectations; a Wall Street Journal (WSJ) poll of economists believed the index would drop to 40. The NAHB’s March score is the highest reading since September 2022.
Newsfeed: Homebuilder Confidence Rises for Third Consecutive Month Read More »
The average rate on the popular 30-year fixed mortgage dropped to 6.57% on Monday, according to Mortgage News Daily. That’s down from a rate of 6.76% on Friday and a recent high of 7.05% last Wednesday.
Newsfeed: Mortgage rates tumble in the wake of bank failures Read More »
Mortgage rates have doubled over the past year and this has hit housing affordability hard. How much housing prices will retrench is still up in the air. Consider the whole premise housing prices in America are about to fall like a stone may be overdone. Hard economic times could very well take a greater toll on the price of intangible assets and paper promises than on things like housing.
Newsfeed: The Face Of Housing Ownership Is Changing Read More »
The average rate on the 30-year fixed mortgage jumped back over 7% on Thursday, rising to 7.1%, according to Mortgage News Daily.
Newsfeed: Mortgage rates jump back over 7% as inflation fears drive yields higher Read More »
National home prices fell for 6 straight months up to December (the latest data from S&P Global’s Case-Shiller index), dropping more than expected (-0.51% MoM vs -0.40% MoM exp). This slowed the annual growth of prices to the weakest since July 2020…
Newsfeed: US Home Prices Tumbled For 6th Straight Month In December Read More »
Back in September, when looking at various leading rental market indicators, we reported that “Manhattan Apartment Rents Finally “Plateau” After Red-Hot Summer” a trend reversal that was also observed at the national level as we observed in “Nationwide Rents Drop For First Time In Two Years.”
Newsfeed: Apartment Rents Slide Across All US Cities Amid “Crush” Of New Supply Read More »
Existing home sales plunged, new home sales surged… so today’s pending home sales print will be the decider over what level of bloodbathery is really occurring in the US housing market.
Newsfeed: US Pending Home Sales Explode Higher In January Read More »