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I have been part of the mortgage banking industry since 1983 — 39 years to date through different housingmarkets. In many ways it was similar to today, with one exception: When I started, I hadn’t been spoiled by a housingmarket like the one in 2020 and 2021. economy, especially the mortgage and housing sector.
This data line lags the current housingmarket as it’s a few months old. I developed a specific home-price growth model for the years 2020-2024 which said that if home-price growth grew at 23% for five years we would be fine, with total housing demand —both new and existing homes together — getting to 6.2
housingmarket and compare those to where we are today — in the middle of one of the most epic years in our country’s history, due to COVID-19. No doubt about it, the COVID crisis has taken some juice out of the 2020 housingmarket. The February housing data, pre-COVID, was juicy indeed. Context is key!
Let’s just say this is the final nail in the coffin for the housing bear troll camps that were so sure that this time, housing would finally crash. COVID didn’t get the housingmarket, but it did pull a fast one on those pesky bears. We saw hints of a flourishing housingmarket prior to the COVID crisis.
A lot of the housing data was lagging the rate move, so it wasn’t apparent that higher rates impacted the data yet. Going back to the summer of 2020, the one factor that I said could change the housingmarket was the 10-year yield getting above 1.94%. Census Bureau and the Department of Housing and Urban Development.
From Census : New home sales Sales of new single‐family houses in August 2023 were at a seasonally adjusted annual rate of 675,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. The existing home market is only sitting at 3.3 percent (±15.6
This data line confirms what we all know to be the case: The housingmarket, at least as it relates to construction, is in a recession. Since the summer of 2020, I have genuinely believed the housingmarket could change once the 10-year yield broke over 1.94%. percent (±15.0 percent (±11.6
We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housingmarket was last year — and it got a lot worse this year — it’s a blessing that was much needed. Census Bureau and the Department of Housing and Urban Development. The only risk to that 6.2 percent (±11.9
However, with active listings now near all-time lows, the builders’ new homes still have more value in the housingmarket than what we saw in previous decades. Census Bureau and the Department of Housing and Urban Development. percent (±15.3 percent)* above the revised January rate of 633,000, but is 19.0
family houses in January 2022 were at a seasonally adjusted annual rate of 801,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. I have always stressed this because many extreme housing bears in America are just side-hustling professional grifters.
The housingmarket is in a recession, something that the homebuilders and the National Association of Realtors now agree with me on, as this recent CNBC clip shows. Census Bureau and the Department of Housing and Urban Development. Over the years, I have tried to emphasize that the housingmarket in the U.S.
The truth here that nobody wants to talk about is that we didn’t have a massive sales credit boom in housing from 2020-2021 like we saw from 2002-2005. Census Bureau and the Department of Housing and Urban Development. However, even if I adjust for that, sales trends have bounced off the lows for a while.
family houses in March 2022 were at a seasonally adjusted annual rate of 763,000, according to estimates released today by the U.S. Census Bureau and the Department of Housing and Urban Development. As we can see below, the uptrend in sales is still intact, so housing starts have held up OK. percent (±12.9 percent (±11.3
In reality, as we talked about many times on HousingWire, housing data was going to moderate, find a base and work from that COVID-19 surge in the data. However, with that said, it’s still just an OK housingmarket for me based on how I view the new home sales market. This is 11.9 percent (±20.3 percent (±16.6
However, some cities have made real progress in reducing homelessness, including the Dallas/Fort Worth metroplex, where Housing Forward , formerly Metro Dallas Homeless Alliance (MDHA), is proving that a housing-first approach can work. Housing Forward was founded in 2002 and is structured as a non-profit 501(c)(3) organization.
family houses in May 2022 were at a seasonally adjusted annual rate of 696,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. Again, this cycle is much different than the run-up in 2002-2005; hopefully, you can see that with the data I have provided.
” — Corey Bland, Development Manager, CCDC About CCDC CCDC, which was founded in 2002 in Central Illinois and has been serving Christian County for over 20 years, operates in the affordable housing sector.
Seriously though, there must be a ceiling to rising rates that have all but extinguished a robust housingmarket. We are now seeing “7s” in front of some rates to new mortgage consumers – a figure not seen since April 2002 – causing applications for new loans to hit a 25-year low this month. ( TREATING YOURSELF EVERY DAY.
The Department of Housing and Urban Development (HUD) has instituted a 90-day moratorium on foreclosures of mortgages insured by the Federal Housing Administration (FHA), as well as a pause on foreclosures of mortgages in the Indian Home Loan Guarantee program. A wide array of U.S.
Who said this is a sellers’ market? Perhaps it’s truly a builders’ market. Building developers are optimistic they can overcome many of the challenges. GREATER BUYING POWER Buyers who are struggling to purchase a home in this frenzied housingmarket will receive a bit of a lifeline in 2022. That was followed by 1.0%
million Americans who live in homes financed with chattel — about 42% of the manufactured housingmarket — don’t enjoy the consumer protections that long-established legislative bulwarks afford those with a traditional mortgage. But the government sponsored enterprises may now be on the cusp of entering the chattel market.
Dear Sellers, the housingmarket misses you It’s tough to value properties today! How does your market compare with Ryan’s? percent, the highest rate since 2002. If you take a moment to be reflective, do you feel like your reactions are automatic, or do you feel like you have enough perspective to choose your responses?
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