Remove 2002 Remove Development Remove Housing Market
article thumbnail

Dave Stevens on understanding this housing market

Housing Wire

I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. In many ways it was similar to today, with one exception: When I started, I hadn’t been spoiled by a housing market like the one in 2020 and 2021. economy, especially the mortgage and housing sector.

article thumbnail

How home-price growth has damaged the housing market

Housing Wire

This data line lags the current housing market 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

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Wow — 6 million existing home sales! However, context is key with 2020 housing market data

Housing Wire

housing market 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 housing market. The February housing data, pre-COVID, was juicy indeed. Context is key!

article thumbnail

Are new home sales flagging a recession?

Housing Wire

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 housing market was the 10-year yield getting above 1.94%. Census Bureau and the Department of Housing and Urban Development.

article thumbnail

Builders only have 76,000 completed new homes for sale

Housing Wire

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

Inventory 520
article thumbnail

Are existing home sales showing a housing bubble?

Housing Wire

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 housing market, but it did pull a fast one on those pesky bears. We saw hints of a flourishing housing market prior to the COVID crisis.

article thumbnail

New home sales make it clear: Housing is in a recession

Housing Wire

This data line confirms what we all know to be the case: The housing market, at least as it relates to construction, is in a recession. Since the summer of 2020, I have genuinely believed the housing market could change once the 10-year yield broke over 1.94%. percent (±15.0 percent (±11.6