While the mortgage rate lock-in effect will prevent a full recovery, the journey back to a normal housing market should accelerate in 2025. You can’t buy what’s not for sale – but the shelves are starting to be restocked.
Tag: Odeta Kushi
First American’s Odeta Kushi: Signs of a Nascent Housing Market Recovery Emerge
While the mortgage rate lock-in effect will prevent a full recovery, the journey back to a normal housing market should accelerate in 2025. You can’t buy what’s not for sale – but the shelves are starting to be restocked.
Housing Starts Fall in November
Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,289,000, 1.8% below the revised October estimate, the Census Bureau and HUD announced Wednesday.
New Home Sales Fall in October, Census Bureau Reports
The U.S. Census Bureau and U.S. Department of Housing and Urban Development released residential sales statistics for October 2024, finding that sales for the month were at a seasonally adjusted annual rate of 610,000.
October Housing Starts Fall
Privately-owned housing starts were at a seasonally adjusted annual rate of 1,311,000, the U.S. Census Bureau and U.S. Department of Housing and Urban Development jointly announced Nov. 19.
BLS: 254,000 Jobs Added in September
The Bureau of Labor Statistics announced 254,000 jobs were added in September, with the unemployment level still relatively flat at 4.1%.
Unemployment Rises to 4.3% in July
Total nonfarm payroll increased by 114,000 in July, per the U.S. Bureau of Labor Statistics. However, the unemployment rate rose to 4.3%.
Odeta Kushi From First American: The Tale of Two Markets Continues…For Now
Even with more existing-home inventory on the market than last year, today’s potential home buyers face one of the least affordable markets in history due to record-high and still-rising home prices and elevated mortgage rates.
Pending Home Sales Drop Again in May
Pending home sales slipped 2.1% in May, the National Association of Realtors reported Thursday.
Odeta Kushi from First American: Twin Market Dynamics Stifling Existing-Home Sales
The housing market is struggling to gain momentum with mortgage rates above their levels from a year ago. Higher rates have a dual impact on sales – pricing out buyers who lose purchasing power and keeping some potential sellers rate-locked in.