With homebuilder sentiment collapsing, it should be no surprise that analysts expected housing starts and permits to tumble in October, and they were right with starts dropping 4.2% MoM and permits down 2.4% MoM…
Newsfeed: US Single-Family Housing Permits Plunge To COVID Crisis Lows, Starts Slump 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
On the heels of ugly homebuilder sentiment and tumbling single-family home starts and permits, analysts expected existing home sales to extend their recent decline with a 1.1% MoM drop in June.
Newsfeed: US Existing Home Sales Plunge In June As Affordability Collapses Read More »
With homebuilder sentiment collapsing at its fastest rate on record in July (ex-COVID lockdowns), one could be forgiven for thinking these same homebuilders …
Newsfeed: US Homebuilders Abandon Single-Families In June As They Brace For Rate Shock Read More »
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 »
Amid surging layoffs in the real estate market, slumping homebuilder sentiment, soaring rates and plunging mortgage applications, it is no surprise that analysts expected a drop in Housing Starts and Permits in May (-1.8% MoM and -2.5% MoM respectively). Those numbers were destroyed as Housing Starts crashed 14.4% MoM and Permits plunged 7.0% MoM…
Newsfeed: US Housing Starts, Permits Collapse In May 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 »
Analysts expected a 3rd straight month of declines in new home sales in March, but they did not see this bloodbath coming. New Home Sales crashed 8.6% MoM (vs -0.6% exp). That drags new home sales down 12.6% YoY.
Newsfeed: US New Home Sales Crashed In March Read More »
There’s no doubt about it: Soaring mortgage rates are an economic shock to the U.S. housing market. Over the past month alone, the average 30-year fixed mortgage rate has spiked from 3.11% to 5.11%.
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 »