Our Potential Home Sales Model, which measures what a healthy market for home sales should be based on the economic, demographic and housing market environments, decreased modestly in June, and remains 2.8 percent lower than one year ago. Mortgage rates have risen substantially since the spring of 2022, and higher rates have a dual impact on sales ...
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Our Potential Home Sales Model, which measures what a healthy market for home sales should be based on the economic, demographic and housing market environments, increased modestly in May, but is still down 5.7 percent from a year ago. The primary factor limiting housing market potential is existing homeowners staying put.
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The housing market remains sluggish heading into the spring home-buying season. While mortgage rates have retreated from recent peaks, they remain elevated compared with one year ago. Higher mortgage rates have a dual impact on sales – pricing out buyers who lose purchasing power and keeping some potential sellers rate-locked in. There are plenty ...
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The housing market has faced its fair share of headwinds leading up to this year’s spring home-buying season. While mortgage rates have retreated from recent highs, they remain elevated compared with one year ago, and house prices, while down from the peak, also remain elevated. All while housing supply remains historically and unseasonably low. ...
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The spring season is typically the busiest time of the year for the housing market. According to data from First America Data & Analytics, historically approximately 36 percent of existing-home sales for the year occur from March through June. The housing market’s seasonal pattern is driven by factors such as weather, holidays and the ...
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There’s no question that the housing market fell into a deep freeze in the second half of 2022. Excluding the early months of the pandemic, the pace of existing-home sales fell below 5 million seasonally adjusted sales for the first time since 2014. Yet, signs have emerged that sales activity may pick up in the months ahead. Purchase mortgage ...
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