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New home sales still growing from 2022 lows 

Housing Wire

New home sales have been one of the brighter housing stories since the home sales crash in 2022 — as we can see in the chart below, new home sales have been able to grow since then. This is one reason why the homebuilder stocks have done so well since November of 2022.

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The mortgage rate lock-in didn’t start in 2022

Housing Wire

In the 24 months beginning March 2022, the U.S. However, if you ask, most people think the mortgage lock-in occurred in 2022. million fewer home sales between March 2022 and December 2023. By Q1 2022, 80% of mortgage holders were locked in with their incredibly cheap financing.

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The mortgage rate lock-in didn’t start in 2022

Housing Wire

In the 24 months beginning March 2022, the U.S. After an initial rush to get to market in Q2 2022, new listings volume fell precipitously. In July 2022, new listings volume per week dropped from 90,000 at the end of June to approximately 74,000 just after the July 4th holiday. The lock-in didn’t start in 2022 when rates rose.

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Mortgage costs, lender denials jumped in 2022: CFPB

Housing Wire

Homebuyers faced surging mortgage costs, fees and monthly payments in 2022 amid a tightening monetary policy designed to combat persistent inflation. ” To illustrate, the median interest rate for a 30-year fixed-rate mortgage at the end of 2022 was 6.5%, per the CFPB report. . in 2022, up from 8.3% For refis, it was 24.7%

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Mortgage applications rise to highest level since July 2022

Housing Wire

The 11% increase in the MBA’s overall applications index — boosting the index to its highest point since July 2022 — was fueled primarily by refinances , which rose 20% from the prior week and are now 175% higher compared to the same week in 2023. Purchase loan applications saw more modest increases of 0.4%

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U.S. Asking Rents Hit Highest Level Since 2022

Appraisal Buzz

year-over-year in May to $1,653, representing the highest level since October 2022, according to a new Redfin survey. Still, the median asking rent in May was just $47 lower (-2.8%) than the record high of $1,700 set in August 2022, presenting affordability issues for some tenants. The median asking rent in the U.S. this summer.

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5 predictions for the 2022 housing market

Housing Wire

This article is part of our HousingWire 2022 forecast series. After the series wraps, join us on February 8 for the HW+ Virtual 2022 Forecast Event. The CoreLogic Home Price Index Forecast has the annual average rise in the national index slowing from 15% in 2021 to 8% in 2022. 2022 should be a strong year for housing.