20-City index below 2022 high, 9 metros below 2022 highs, 10 metros set new highs. The unsavory “National” index cocktail in the headlines gets shredded.
Mortgage-rate buydowns, “smaller product footprints,” and “de-amenitizing” to bring down payments: D.R. Horton.
Supply is coming back, demand is not. Prices are still way too high.
Home buyers “seize a dip in rates” and rush into the housing market, LOL?
Where’s the hangover from the party?
From 2022 peaks: San Francisco -11%, Seattle -10%, Las Vegas -6%, Phoenix -6%, Portland -5%, then Denver, Dallas, San Diego, Los Angeles, Tampa.
What homebuilder PulteGroup said about mortgage-rate buydowns. Homebuilders have figured out this market, homeowners have not.
NAR, the Realtor lobbying group, demands its easy-money heroin back that the Fed has confiscated.
Bond Bloodbath, Housing Market in Deep-Freeze, as delusions fade.
The Home Price Benchmark Index is down 14% from peak in March 2022, Toronto down 15%, after wild and woolly sucker rally over the spring.