Falling mortgage rates should help boost home sales by nearly 10 percent next year, but in the meantime, inventory shortages and affordability challenges are keeping a lid on sales in many markets.
Category: home sales
That big Fed rate cut was no panacea for housing: Fitch analysts
Fed easing was already priced into mortgage rates, but there’s room for more relief if investors who fund most home loans get less skittish about prepayment risk and quantitative tightening.
BofA analysts cast doubts on prospects for 2025 sales rebound
“The U.S. housing market is stuck, and we are not convinced it will become unstuck anytime soon,” economists at Bank of America Global Research say of ongoing affordability issues.
Existing-home sales drop in March as high rates stun homebuyers
Existing-home sales retreated 4.3 percent between February and March to a seasonally adjusted annual rate of 4.19 million, according to data released Thursday by the National Association of Realtors.
Tale of 2 housing markets will linger into 2024, Zonda economist warns
With listings still in short supply, homebuyers are “dealing with an affordability shock” and new homes will play an outsize role in housing markets, Zonda Chief Economist Ali Wolf said at ICNY.
Falling mortgage rates should boost home sales: Fannie Mae
Fannie Mae economists no longer expect a recession and are considerably more optimistic that mortgage rates have additional room to come down below 6 percent.
Economists agree rates have peaked. But will they come down?
Two closely watched forecasts agree that mortgage rates have probably peaked, but diverge sharply on how quickly they’ll come down over the next two years.
Existing-home sales droop as mortgage rates hit 20-year highs
Home sales fell 2 percent between August and September and retreated 15.4 percent from a year ago as prices and interest rates climbed.
Economists now less certain 2024 will bring much mortgage rate relief
Fed’s “higher for longer” rate strategy could keep home sales from rebounding in 2024 or limit the strength of a recovery, according to two closely followed forecasts.
Rocket back in the black after boosting purchase market share
The Detroit-based mortgage giant returned to profitability during the spring homebuying season by slashing costs and boosting its market share in the face of severe inventory shortages.