Why housing demand is now showing year-over-year growth
Housing Wire
OCTOBER 19, 2024
We have had three weeks of positive year-over-year growth in both purchase application data and weekly pending contract data, with last week showing a noticeable jump from last year. Now the dose of reality: last year at this time mortgage rates were heading toward 8% , and even though 2023 showed record low sales levels, it got worse with 8% rates.
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