August New Home Sales: New Sales Soar Past Expectations
Home builders have been pulling back single-family building activity in the face of diminishing demand for months, but new home sales in August blew the July numbers out of the water, up over a quarter from where they were a month ago
August Existing Home Sales: Sales Continue to Drop as Market Rebalances
As the housing market rebalancing pushes on, existing home sales have declined every month in 2022, reaching the lowest level in the past two years in August.
August Housing Starts: Market Rebalancing Tipping the Scales in Building
Home builders are in a pivotal moment as they navigate this rapidly changing environment, and they are continuing to adjust their expectations about what the future housing market will hold.
More Pending Homes Are Falling Through, but No Need to Sound the Alarms
The share of contract cancellations — pending listings that have gone back on the market without a sale — has recently increased, but remains in line with pre-pandemic norms. The recent increase in contract cancellations is more evidence of a rebalancing in the housing market that has both eased buyer demand and given buyers who remain in the market more negotiating power than they have had for most of the pandemic.
June 2022 Case-Shiller Results & Forecast: Moving Towards Rebalance
The S&P CoreLogic Case-Shiller U.S. National Home Price Index® rose 18% year-over-year in June (non-seasonally adjusted), down from 19.7% in May.
Today’s ARM Borrowers Have Higher Incomes, Larger Down Payments
Adjustable-rate mortgages rose in popularity in the first half of 2022, bringing the share of adjustable-rate mortgage applications to the highest it’s been in 15 years
July New Home Sales: The New Construction Cool Down Continues
As the tides of rising housing costs sweep buyers off the shore of the for-sale market, new home sales have been rapidly descending.
July Existing Home Sales: Discouraged Buyers Lead to Continued Decline in Sales
Discouraged buyers pulling back from the for-sale market, coupled with the ongoing inventory crunch, has caused existing home sales to plummet in July to the lowest rate in the last two years.
July Housing Starts: Builders Rethink Future Plans
The rebalancing of the housing market is causing builders to rethink their future plans.
Demand for Lowest-Priced Homes is Strongest as Market Rebalances
Inventory, sales and price cut trends show home buyer demand has cooled across the board, but competition is strongest for the lowest-priced homes in each market, reversing a pandemic trend.
