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 ›

Key Points: In May and June, four of the eight indicators in our model flashed housing recession. While July data is still trickling in, it’s looking like we may narrowly avoid a housing recession. The relationship between housing and economic recessions is complicated and, contrary to what many believe, housing does not always lead economic ... 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 ›

As National Homeownership Month comes to a close, it’s important to examine the current challenges facing the housing market. Nationally, housing affordability has declined compared with one year ago, especially for potential first-time home buyers. According to our First Time Home Buyer Outlook Report, the median renter, who can also be ... 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 ›