Housing

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.

Fannie Mae Gets Gloomier about Home Sales, Buyers’ Strike to Continue Despite Dropping Mortgage Rates & Surging Listings

by Wolf Richter • Sep 18, 2024 • 115 Comments

As buyers wait for lower prices, even lower mortgage rates, and higher wages. Mortgage rates already dropped to 6.15% from 7.9%, but that didn’t help at all.

The Most Splendid Housing Bubbles in America: Price Declines Spread to 25 Metros of Top 28, with 19 Below 2022 Peaks. 3 Set New Highs

by Wolf Richter • Sep 12, 2024 • 182 Comments

Biggest declines: San Francisco, San Jose, Austin, Denver, San Diego, Seattle, Dallas, Salt Lake City, Honolulu, Phoenix, Portland, Houston, Los Angeles, Nashville, Charlotte, Tampa

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