US mortgage rates posted the biggest drop in more than two years, offering homebuyers a slight reprieve from this year’s massive surge in borrowing costs.
Newsfeed: Mortgage Rates Fall to 5.1% in Biggest Drop Since April 2020 Read More »
As I noted last year, Inventory will Tell the Tale about the housing market. And inventory levels are now up year-over-year and increasing quickly.
Newsfeed: Realtor.com Reports Weekly Inventory Up 9% Year-over-year Read More »
Populations of cities and towns in the South and West regions of the United States still experienced the most growth from July 2020 to July 2021, with the top 15 fastest-growing cities or towns located in these regions, according to new population estimates for cities and towns, released by the U.S. Census Bureau today.
Newsfeed: Fastest-Growing Cities Are Still in the West and South Read More »
After new- and existing-home sales tumbled, it should have been no surprise that pending home sales dropped in April.
Every year, states across the country compete with each other for people and their wealth as millions of Americans move between states. The stakes are large. A growing population for the winners means an increasing tax base, economic growth and investment. For the biggest losers, it means more difficulties in paying down debts, higher taxes and fewer investments for the future.
After dismal earnings by such mammoth retailers as Walmart, Targets and this morning’s “horror report” by Abercrombie and Fitch, on Tuesday afternoon we actually got a solid report by Nordstrom, which not only printed strong earnings but also hiked guidance sending the stock higher as much as 12%.
Newsfeed: US Middle Class Is Shutting Down As Spending By The Rich Remains Robust Read More »
The Census Bureau reports New Home Sales in April were at a seasonally adjusted annual rate (SAAR) of 591 thousand.
Amid a slew of disappointing US Macro data, preliminary May US PMIs were expected to show slowdowns in btoh manufacturing and services, and the actual prints were worse than expected
Newsfeed: US PMIs Disappoint In May, Signal Growing Stagflation Fears Read More »
Following the unexpectedly large decline in existing home sales (directionally not unexpected given the surge in mortgage rates, plunge in mortgage apps, slump in homebuilder sentiment, drop in building permits, and weakening in labor market signals that are emerging), analysts expected new home sales to slide 1.8% MoM in April.
Newsfeed: US New Home Sales Collapse In April Read More »
Last year, I pointed out that the foreclosure moratorium, combined with the expiration of a large number of forbearance plans, would NOT lead to a surge in foreclosures and impact house prices …