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Newly released data from the annual profile of home buyers and sellers by the National Association of Realtors (NAR) shows just how dramatically this trend has manifested since the financial crisis of 2008. Together, the median age of all homebuyers sits at 56. The trendline is startling.
The National Association of Realtors reported that existing home sales for February came in as a miss of estimates at 6.02 To get the housingmarket to be sane and normal again, we need inventory to get back in a range between 1.52 – 1.93 Housing is the cost of shelter to own the debt; it’s not an investment.
The National Association of Realtors reported Thursday that existing home sales for April came in at 5.61 million , with double-digit home-price growth driving a housingmarket that is still savagely unhealthy. My rule to get the housingmarket out of the unhealthy stage is that we need total inventory back between 1.52
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.
Just when I thought days on market were returning to normal, that number for existing homes fell back down to 22 days. If the days on the market are at a teenager level or even lower, it’s never a good sign for the housingmarket. housingmarket inventory channels have changed due to how the U.S.
The National Association of Realtors reported that existing home sales for March came in as a miss of estimate at 5.77 However, the real story of 2022 is that the savagely unhealthy housingmarket continues as inventory is still lower than last year, sending home prices growth into double digits again. million in March.
housingmarket has outperformed expectations, I expected these upward trends to moderate. Today, the National Association of Realtors reported a 2.5% The silver lining is that unlike in the previous cycle from 2002-2005, homeowners are in a much better financial position. If we have greater than 4.6%
Today the National Association of Realtors reported that existing home sales fell once again to 4.80 The savagely unhealthy housingmarket theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . However, it’s not the market of 2002-2011.
The National Association of Realtors reported that existing home sales for November came in hot at 6.46 million , that would mean it’s a good year for housing demand. Then everyone went crazy on investors and iBuyers , suggesting that these people were holding up the entire housingmarket. million and 6.2
As rising mortgage rates continue to cool the housingmarket, the volume of existing home sales has declined for eight consecutive months as of September, according to the National Association of Realtors (NAR). this week, the highest level since April 2002, Read More ›
This level, while historically still low, will mean the days on market will go higher, and this will give people choices. Here are two charts from the National Association of Realtors that will show that homes simply come off the market too fast to give housing a breather. What we have currently isn’t a balanced market.
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. Over the years, I have tried to emphasize that the housingmarket in the U.S. can’t have a credit sales boom like we saw from 2002-2005.
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. (
Keep them up to date in every step of the report so that they can keep the Lender (and the Buyer/Seller/Realtor/Closing Attorneys when applicable) all in the loop on the progress of the report. percent, but remained close to its highest since 2002,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist.
The National Association of Realtors reported that existing home sales for December came in as a miss of estimates at 6.18 I have never been a housing sales boom person because I don’t believe we can have a credit boom in America like we saw from 2002 to 2005. The real goal is to get the days on the market to grow.
RealTrends + Harris Insights ‘ studies from 2002, 2005, 2006, 2011, 2014, and 2019 all show that consumers know that commissions are negotiable. housingmarket that has become available in the last 25 years, the use of agents by consumers has risen, not decreased. Certainly, there are some that don’t.
GREATER BUYING POWER Buyers who are struggling to purchase a home in this frenzied housingmarket will receive a bit of a lifeline in 2022. >> Housing permits for single-family home construction in the Seattle/King County area this year is 49% lower than the peak period of 2002-2008. That was followed by 1.0%
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