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Lower mortgage rates attracting more homebuyers
An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data with
Housing demand rises as inventory falls
Even with mortgage rates higher this year than last, housing demand is up. It’s time to track the spring housing data.
Mortgage rates, inventory and demand rise as price cuts fall
Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling.
Existing home sales are working from a historic low bar
We are working in the third calendar year of great recession lows in demand, with a population of over 335 million and over 157 million people working.
Why the number of price cuts are dropping as housing inventory rises
With calmer mortgage rates, we can grow housing inventory from these depressed levels and get more demand.
Fewer homes will take a price cut in spring 2024
With lower mortgage rates fueling demand, fewer homes will have to take a price cut before they're sold this spring.
Housing inventory defied all predictions in 2023
Going into 2023, people thought housing inventory would skyrocket, and home prices would crash. None of that happened.
The 2023 housing market bent, but didn’t break
The housing market took it on the chin for two years and bent with the lowest sales levels in history, but it didn’t break.
The Federal Reserve delivers lower rates for Christmas
The 10-year yield and mortgage rates fell after the Fed meeting, which gave us mortgage rates under 7% last week.
Why home prices haven’t crashed even with high mortgage rates
Not only did home prices not crash this year, they got back to all-time highs and the number of homes taking price cuts is less than 2022.
January 22, 2024 Weekly Real Estate Housing Market Update:
Real estate momentum slows as interest rates rise againI’ve been pretty optimistic about the real estate market growth signals over the last bunch of weeks. This week, those signals slowed notably. Is that from a jump in mortgage rates back close to 7%? Is it from the deep freeze that gripped much of the country? Both? Read more.
– Mike Simonsen, President of Altos Research
Housing Market Videos
January 22, 2024
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