The math is truly daunting for would-be homebuyers: The difference between the mortgage payments and rents is the largest it’s been since the 2006 housing bubble that led to the Great Recession.
Newsfeed: Buy/Rent Premium Highest Since 2006 Housing Bubble Peak Read More »
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 »
Before we dig into this morning’s new home sales data, we note that both homebuilders and homebuyers have seen a rebound in confidence this year (even though the latter remains near extreme lows as one would expect)…
Newsfeed: US New Home Sales Unexpectedly Soared In January As Prices Plunge Read More »
After an unexpected rebound in October, new home sales are expected to tumble in November (latest data) following the plunge in existing home sales, starts and permits data, and homebuilder sentiment.
Newsfeed: US New Home Sales Unexpectedly Soar (Again) In November Read More »
We expect home sales to sink to their lowest level in more than a decade in 2023 as high mortgage rates keep housing costs up and prevent people from moving. High homeowner equity and a resilient job market will stave off a wave of foreclosures.
After existing home sales tumbled, new home sales were expected to follow suit amid soaring borrowing costs and ever-higher prices (despite building inventories and incentives by homebuilders). They didn’t…
Newsfeed: New Home Sales Unexpectedly Jump In October, Prices Surged To Record Highs Read More »
Analysts expected Case-Shiller Home Price acceleration to slow modestly in May (the latest available data in this heavily lagged and smoothed data set) and they were right but the slowdown is still almost comedic.
Newsfeed: Case-Shiller Home Price Growth Slowed (Marginally) In May Read More »
Amid a plunge in homebuilder confidence, record low affordability, tumbling single-family starts and permits, and multi-decade lows in mortgage applications, it is no surprise that analysts expected a 5.9% MoM plunge in new home sales in June
After an unexpected jump in new home sales and larger than expected drop in existing home sales, today’s pending home sales print is the tie-breaker for sentiment in the housing market in May as homebuilder sentiment soured and mortgage rates and applications soared.
Following the disappointing tumble in existing home sales (to 2 year lows), analysts expect a modest drop in new home sales in May of just 0.2% MoM (after April’s 16.6% MoM plunge). Instead, new home sales spiked 10.7% MoM (from an updwardly revised -12% MoM print in April) – despite soaring mortgage rates…
Newsfeed: New Home Sales Unexpectedly Rebounded In May As Prices Plunged Read More »