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| Home Price Appreciation Remains, But Interesting Trend Emerges | ||
| 5/2/2025 2:00 PM | ||
| Both of the major purveyors of home price indices have been in agreement for the better part of a year that the average home is appreciating between 4 and 5 percent per year. The FHFA House Price Index showed only a 0.1% uptick in February while the Case Shiller Home Price Index rose 0.7%. In annual terms, Case Shiller was at 4.5...Read More | ||
| Mortgage Applications Contract Slightly, But Remain Above 2 Year Average | ||
| 5/2/2025 1:28 PM | ||
| Mortgage rates were in the process of falling by the end of last week, but they made additional headway during the first half of the present week. That means this week"s mortgage application survey from the Mortgage Bankers Association (MBA) may be reflecting hesitation due to the elevated rates at the beginning of last week. The chart...Read More | ||
| Existing Home Sales at 5 Month Lows | ||
| 4/25/2025 2:54 PM | ||
| As is the case for the monthly data on New Home Sales from the Census Bureau, the National Association of Realtors (NAR) Existing Home Sales report does not make for exciting news these days. It"s not that the news is tragic or alarming either. It just sort of... is. Whereas New Home Sales have been able to hold sideways near their pre-covid...Read More | ||
| New Home Sales Running Near Highest Pace Since 2022 | ||
| 4/25/2025 2:19 PM | ||
| The Census Bureau released March New Home Sales data this week, and it was near the best levels seen since early 2022. Before you get too excited about that, a caveat is in order. Simply put, when it comes to housing market data, nothing has been more uneventful than new home sales over the past few years. The chart tells th...Read More | ||
| Mortgage Applications Dropped Sharply in Response to The Recent Rate Spike | ||
| 4/25/2025 2:01 PM | ||
| ...Read More | ||
| Don"t Read Too Much Into Builder Confidence (Yet) | ||
| 4/17/2025 3:02 PM | ||
| The National Association of Homebuilders (NAHB) and Wells Fargo publish the Housing Market Index (HMI) each month, otherwise known simply as "builder confidence." This month"s index came out at the 2nd lowest level since late 2023. While that might sound dramatic, it"s very much in line with the prevailing trend for this report. And while ...Read More | ||
| Home Construction Remains Volatile Despite Steady Flow of Building Permits | ||
| 4/17/2025 2:32 PM | ||
| One would think that the pace of new residential construction largely mirrors the pace of filings for building permits. And while that is generally true in the bigger picture, there can be noticeable discrepancies month to month. This week"s data from the Census Bureau is the latest example. Building permits were slightly higher at 1.482 million u...Read More | ||
| Mortgage Applications Pull Back From 5 Month Highs | ||
| 4/17/2025 1:18 PM | ||
| The Mortgage Bankers Association"s (MBA) mortgage application survey was at the highest combined level since October in last week"s data--a move largely driven by the a sharp drop in interest rates (incidentally, also to the best levels since October). The rate drop was part of the initial market reaction to the April 2nd tariff announcement, but i...Read More | ||
| Mortgage Applications Ebbed This Week, But Next Week Could Be a Different Story | ||
| 4/4/2025 1:59 PM | ||
| The Mortgage Bankers Association (MBA) released the latest mortgage application data this week showing a modest 1.6% decrease from the previous week. A slight uptick in purchase applications was more than offset by a downtick in refi applications, but both remain in solid territory relative to the prevailing range and interest rate environmen...Read More | ||
| Pending Home Sales Crack Half-Hearted Smile Amid Longer Term Depression | ||
| 3/28/2025 4:16 PM | ||
| The National Association of Realtors" Pending Home Sales Index (PHSI) tracks purchase contract signings that have not yet turned into Existing Home Sales. Things haven"t been going well for either sales metric for more than 2 years now--a problem that can be blamed on a combination of factors led by it"s proximity to the sharpest interest rate spik...Read More | ||
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