Posted inReal Estate
How have two hurricanes impacted housing inventory?
Here are new listings for last week over the past several years: 2024: 62,876 2023: 57,229 2022: 59,458 Price-cut percentage In an average year, one-third of all homes take a…
Posted inReal Estate
Have higher mortgage rates already reversed housing demand?
The Federal Reserve cut rates by 0.50% on Sept. 18 and mortgage rates and bond yields headed higher. But, we have to remember that mortgage rates had already made an…
Posted inReal Estate
Housing demand firming up with lower mortgage rates
Housing demand is very seasonal, so the fact that our pending contract data is firming up lately just shows that lower mortgage rates have stabilized and firmed up demand recently.It…
Posted inReal Estate
Why aren’t home prices falling?
For years, the U.S. housing market boomed. Economic growth, cash flowing through the economy, and cheap mortgages all drove massive homebuyer demand for more than a decade. People have told…
Posted inReal Estate
Chicago housing market normalizing after unprecedented volatility during the pandemic
Like many other big cities across the country, the COVID-19 pandemic wasn’t kind to Chicago. People seeking more space to accommodate working from home led to a minor outflow of…
Posted inReal Estate
Are these the lowest mortgage rates we’ll see in 2024?
Have we seen the bottom in mortgage rates for 2024 after a crazy roller coaster ride so far this year? My 2024 forecast had a mortgage rate range of 7.25%-5.75%.…
Posted inReal Estate
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…
Posted inReal Estate
The fall housing market could see hotter competition, Zillow says
Lower mortgage rates over the past several months have led to increased affordability for prospective homebuyers, and this could lead to an extra competitive fall 2024 season. That’s according to…
Posted inReal Estate
Can mortgage rates go even lower?
Mortgage rates have made almost a 2% move lower from the highs of 2023. Now that the jobs week data is in, the question is: can mortgage rates go even…
Posted inReal Estate
Fannie Mae forecasts slower home-price growth in the near future
U.S. home-price growth is predicted to finish this year at 4.7% before slowing to 3.1% in 2025, according to a quarterly survey of housing experts conducted by government-sponsored enterprise (GSE)…