Home Buyers’ Strike Expands even as Mortgage Rates Drop to Lowest since May 2023. Surging Refis to Speed Up the Fed’s QT by Wolf Richter • Aug 21, 2024 • 86 Comments People are waiting for rates and prices to drop, while supply keeps rising.
Plunge of Single-Family Construction Starts in July Was Huge Outlier. See Hurricane Beryl. Multifamily Jumped 45% from March Low despite CRE Depression by Wolf Richter • Aug 16, 2024 • 43 Comments What we’re worried about and what we’re not worried about.
Here Come the HELOCs: Mortgages, the Burden of Mortgage Debt, Delinquencies, and Foreclosures in Q2 by Wolf Richter • Aug 7, 2024 • 75 Comments Delinquencies mostly edged down. Foreclosures form a frying pan pattern.
The Most Splendid Housing Bubbles in America, July 2024 Update. Below 2022 Peak: San Francisco, Seattle, Phoenix, Portland, Denver, Dallas, Las Vegas. New Highs: Miami, Los Angeles, San Diego… by Wolf Richter • Jul 30, 2024 • 103 Comments New Highs: Boston, New York, Miami, Tampa, Los Angeles, San Diego, Washington DC, and Chicago.
New-House Prices Solidly below Existing House Prices as Inventory Piles Up. Sales Hobble Along, Supported by Big Incentives & Mortgage-Rate Buydowns by Wolf Richter • Jul 24, 2024 • 72 Comments Inventory of completed houses jumps to highest since 2009. This pile-up of spec houses is exactly what the housing market needs.
Here Comes the Inventory of Vacant Homes: With Buyers on Strike despite Lower Mortgage Rates, Supply Spikes to Highest in 4 Years. Sales Drop Further except at High End by Wolf Richter • Jul 23, 2024 • 151 Comments A game-changer is underway. Even the NAR concedes this “shift from a seller’s market to a buyer’s market.”
Home Buyers Still on Strike even as Mortgage Rates Drop to Lowest since March. But Refis Jump to Highest since Aug 2022 by Wolf Richter • Jul 17, 2024 • 83 Comments A trend we watch: As refis rose from collapsed levels, the Fed’s QT of MBS increased for the fourth month in a row.
Home Buyers Remain on Strike, Housing Market Still Frozen as Prices Are Too High, Mortgage Rates Still 7% by Wolf Richter • Jul 10, 2024 • 213 Comments Powell to Congress: Higher rates are “the absolute best thing we can do for the housing market…” – “…particularly for younger people who are not yet in the housing market.”
Here Comes the Housing Inventory as Sales Plunge: Active Listings Explode in Tampa, Orlando, Denver, San Diego, Jacksonville, Miami and Surge in other Metros by Wolf Richter • Jul 9, 2024 • 133 Comments Listing prices in June flat YoY and below June 2022. Mortgage rates still at 7%. Prices way too high. Something has to give.
What’s the Cost of Mortgage-Rate Buydowns and Other Incentives to Homebuilders? Lennar Discloses the Numbers by Wolf Richter • Jul 4, 2024 • 82 Comments And they’re big. That assumes their hedges don’t blow up, but that’s precisely what hit D.R. Horton.
