Key Points: Existing-home sales as a percentage of total households are historically low, at just 2.9 percent. By contrast, the pre-pandemic average was 4.4 percent. Only 94 of every 10,000 existing homes are for sale, lower than the pre-pandemic historical average of 220 of every 10,000 homes. Given the current number of households in the U.S. ... Read More ›

Key Points: Existing-home sales for August are expected to increase 0.5 percent from July’s pace of sales. If realized, this would mark two consecutive monthly increases. While house-buying power is nearly 4 percent greater than last month, and 10 percent above a year ago, it remains 7 percent below the two-year, pre-pandemic average. Even if ... Read More ›

Housing market sales activity in 2024 has closely followed the path of mortgage rates, and we expect that to remain true with July’s existing-home sales data that will publish on July 22. Each month, we use our Existing-Home Sales Outlook Report to ‘nowcast’ existing-home sales based on the historical relationship between sales, demographic ... Read More ›

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. Each month, we use our Existing-Home Sales Outlook Report to ‘nowcast’ existing-home sales based on the historical ... Read More ›

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. Our Existing-Home Sales Outlook Report ‘nowcasts’ existing-home sales based on the historical ... Read More ›

In the housing market, the seller and the buyer are, in many cases, the same. To buy a new home, you must sell the home you already own. For several years, a persistent and historic lack of supply has restrained the housing market, but a recent uptick in inventory is poised to boost sales activity as the spring home-buying season peaks. Our ... Read More ›