Twin Market Dynamics Continue to Stifle Existing-Home Sales

By Odeta Kushi on June 14, 2024
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

Housing Mortgage Rates Existing-Home Sales

More Homes for Sale Sparks Uptick in Housing Market Activity

By Odeta Kushi on May 20, 2024
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

Housing Mortgage Rates Existing-Home Sales

Sales Activity Driven by the Five Ds Amid Persistent Market Headwinds

By Odeta Kushi on April 10, 2024
Our Existing-Home Sales Outlook Report ‘nowcasts’ existing-home sales based on the historical relationship between sales, demographic trends, house-buying power, and the prevailing financial and economic conditions. Based on our nowcast, we expect March existing-home sales to rise 1.7 percent compared with February, but remain approximately 16 ... Read More

Interest Rates Federal Reserve Mortgage Rates Existing-Home Sales

New Existing-Home Sales Outlook Report Projects February Uptick in Sales, Despite Rising Mortgage Rates

By Mark Fleming on March 13, 2024
On average, nearly 40 percent of all existing-home sales in a year occur during the spring home-buying season between April and June. The warming weather and the end of the academic school year make for a more optimal time to move and fuel the seasonal increase in housing market activity. In the spring of 2023, home sales were lackluster. Housing ... Read More

Interest Rates Federal Reserve Potential Home Sales Mortgage Rates

Will Falling Mortgage Rates Spark an Existing-Home Sales Rush to Close 2023?

By Mark Fleming on December 18, 2023
In the month of October, existing-home sales hit the lowest level since 2010 as a result of the higher mortgage rate environment. Rising mortgage rates reduce affordability, all else held equal, for buyers and strengthen the rate lock-in effect for potential sellers. However, mortgage rates declined in November, igniting cautious optimism in the ... Read More

Interest Rates Potential Home Sales tenure Mortgage Rates

The Blight, the Bright, and What Seems Just Right in 2024

By Mark Fleming on November 21, 2023
The surge in mortgage rates from mid-2022 through 2023 triggered a housing recession, with the most pronounced impact felt in a steep decline in sales, while prices have remained relatively stable. Specifically, existing-home sales plunged to a more than 12-year low in September of this year. Rising mortgage rates have a dual impact on the housing ... Read More

Potential Home Sales Mortgage Rates