Inventory of New Spec Houses Spikes to Highest since 2009, Sales Grow as Builders Pile on Incentives and Trim Prices by Wolf Richter • Oct 24, 2024 • 120 Comments Lennar’s incentives jumped to $48,100 per house, prices -5.8%. Builders take share from existing houses where demand wilted because prices are too high
Demand Destruction for Existing Homes: Sales in 2024 to Plunge Below 4 Million Homes, Lowest since 1995, as Supply Spikes by Wolf Richter • Oct 23, 2024 • 171 Comments Because prices are way too high. Buyers’ Strike deepened even with mortgage rates at 2-year lows at the time. But rates have spiked since then.
Mortgage Rates Explode to 6.82%, 10-Year Treasury Yield Jumps to 4.20%, +55 Basis Points since Monster Rate Cut by Wolf Richter • Oct 21, 2024 • 175 Comments How the yield curve is un-inverting shocks real-estate folks who’d promised rate cuts would push down mortgage rates even further.
Home-Purchase Demand Destruction Accelerates, Prices Too High, Buyers’ Strike Deepens: Sales of Existing Homes Head for Worst Year since 1995 by Wolf Richter • Oct 16, 2024 • 159 Comments Too-high prices destroy demand. Everyone knows that. Lower prices would bring out demand.
The Most Splendid Housing Bubbles in America: Sept Update: Prices Drop in 26 of 28 Big Metros, even San Diego, Los Angeles by Wolf Richter • Oct 15, 2024 • 124 Comments 1 New High. 19 metros below 2022 peaks: Austin, San Francisco, Phoenix, Denver, Salt Lake City, Portland, Seattle, Dallas, Honolulu, Nashville…
Florida Housing Market Buckles, Listing Prices Sag to 30-Month Low but Are Still Way Too High, Inventory Piles Up, Institutional Investors Turn into Net Sellers by Wolf Richter • Oct 8, 2024 • 187 Comments He who panics first, panics best. Mr. Holmes, with no offers in 9 months, missed that train and is chasing prices lower.
People Are Now on Buyers’ Strike Because Home Prices Are too High: Fannie Mae by Wolf Richter • Oct 7, 2024 • 105 Comments Optimism about dropping mortgage rates drove up the Home Purchase Sentiment Index, but the poll occurred just before mortgage rates exploded.
Here Come the Vacant Homes: New Listings Jump when they Normally Drop in September, Active Listings Pile up, Listing Prices Drop below 2 Years Ago. Buyers on Strike, Prices too High by Wolf Richter • Oct 3, 2024 • 84 Comments Sellers coming out of the closet with their vacant homes. Active listings exploded the most in San Diego (+77%).
Here Comes the Inventory of New Spec Houses, Highest since 2009. Sales Jump, Builders Take Share from Homeowners by Wolf Richter • Sep 25, 2024 • 111 Comments This buildup of completed single-family houses is a factor in resolving the price dislocations of the overall housing market.
Demand for Existing Homes Wilts, Supply Spikes to Highest for any August since 2018, Prices Dip, Despite Mortgage Rates that Have Plunged for 10 Months by Wolf Richter • Sep 19, 2024 • 149 Comments Because prices are still way too high. So the Buyers’ Strike continues.
