Housing Data

[tsptalk]

Pending home sales rebounded sharply in October, despite rising mortgage rates

Signed contracts on existing homes, so-called pending sales, jumped 7.5% from September, according to the National Association of Realtors.

The average rate on the popular 30-year fixed mortgage was just below 3% in mid-September, but climbed to 3.22% by the end of October, according to Mortgage News Daily.

https://www.cnbc.com/2021/11/29/pen...in-october-despite-rising-mortgage-rates.html

 

[Bullitt]

3.22% for a 30 year, still ridiculously low.

30 year mortgage rate chart up to the week of November 18.



https://ycharts.com/indicators/30_year_mortgage_rate

 

[bmneveu]

Selfishly, I just need it to all hold up for another 6ish months when I sell my house. If it does, buying this house at this duty station will have been my most profitable investment decision by a long shot.

 

[tsptalk]

January home sales jump 6.7% despite a record low supply

Sales of previously owned homes in January rose 6.7% from December to a seasonally adjusted annualized rate of 6.5 million units, according to the National Association of Realtors.

The supply of homes for sale fell to a record low, down 16.5% from a year ago.

Tight supply and strong demand pushed the median price of a home sold in January to $350,300, an increase of 15.4% from January 2021.

https://www.cnbc.com/2022/02/18/jan...oint7percent-despite-a-record-low-supply.html

 

[bmneveu]

Yea Zillow says my house value goes up practically every single day. It's nuts out there right now.

 

[tsptalk]

Shades of 2007+

 

[wavecoder]

My apartment within a year went up 20%, it's nuts. But I even think with a housing crash, the value won't go down much. Hawaii property costs barely flinched when 2008 happened, there's always gonna be a demand for property here. I'm glad I bought something rather than renting. Rent also went up like crazy since 2020. Places nearby that have been going for 1500 a month are going for near 2500 now.

 

[poppa]

My apartment within a year went up 20%, it's nuts. But I even think with a housing crash, the value won't go down much. Hawaii property costs barely flinched when 2008 happened, there's always gonna be a demand for property here. I'm glad I bought something rather than renting. Rent also went up like crazy since 2020. Places nearby that have been going for 1500 a month are going for near 2500 now.

yall have a unique property value figure on the islands. cant really compare that to the land locked states. its a good investement IMO

 

[tsptalk]

Home-Price Growth Hit Record in 2021
Case-Shiller index measuring average home prices in major U.S. metropolitan areas rose 18.8%

The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 18.8% in the 12 months that ended in December, unchanged from the prior month. The calendar-year increase was the highest since the index began in 1987.

https://www.wsj.com/articles/home-p...078qimqwqui&reflink=desktopwebshare_permalink

 

[tsptalk]

U.S. Home Prices Hit a Record of $375,300 in March
Jump in median price for existing homes came as mortgage-interest rates climbed sharply and a shortage of homes for sale continued

Existing-home sales fell 2.7% in March from the prior month to a seasonally adjusted annual rate of 5.77 million, the National Association of Realtors said Wednesday. March sales fell 4.5% from a year earlier.

The median existing-home price rose 15% in March from a year earlier, NAR said. The $375,300 figure is a record high in data going back to 1999.

https://www.wsj.com/articles/u-s-ho...giy2d6msq1c&reflink=desktopwebshare_permalink

 

[tsptalk]

Home prices jumped nearly 20% in February, but slowdown may be coming, S&P Case-Shiller says

Home prices increased 19.8% in February year over year, according to the S&P CoreLogic Case-Shiller national home price index.

The 10-city composite annual increase came in at 18.6%, up from 17.3% in the previous month. The 20-city composite was up 20.2%, rising from 18.9%.

Phoenix, Tampa, Florida, and Miami saw annual home price gains of 32.9% 32.6% and 29.7% respectively.

https://www.cnbc.com/2022/04/26/hom...y-slowdown-may-be-coming-sp-case-shiller.html

 

[tsptalk]

Pending home sales post surprise increase in May, likely due to brief pullback in mortgage rates

Pending home sales, a measure of signed contracts on existing homes, rose slightly in May, up 0.7% compared with April, according the National Association of Realtors.

Buyers have been contending with rising mortgage rates since the start of this year, but rates actually pulled back slightly in May, and that may account for the sales gain.

Still, pending sales were over 13% lower than they were in May 2021.

https://www.cnbc.com/2022/06/27/pending-home-sales-post-surprise-increase-in-may.html

 

[tsptalk]

Mortgage demand declines further, even as interest rates drop a bit

Applications for a loan to purchase a home fell 1% for the week, and were 18% lower than the same week one year ago.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased last week to 5.74% from 5.82%.

Demand for mortgage refinances are down 83% from a year ago.

https://www.cnbc.com/2022/07/27/mor...urther-even-as-interest-rates-drop-a-bit.html

 

[tsptalk]

Home prices fell for the first time in 3 years last month – and it was the biggest decline since 2011

Home prices declined 0.77% from June to July, the first monthly decline in nearly three years, according to Black Knight, a mortgage software, data and analytics firm.

While the drop may seem small, it is the largest single-month decline in prices since January 2011. It is also the second-worst July performance dating back to 1991.

“Further price corrections are likely on the horizon as we move into what are typically more neutral seasonal months for the housing market,” said a Black Knight executive.

https://www.cnbc.com/2022/08/24/hom...e-in-three-years-biggest-drop-since-2011.html

 

[Khotso]

Home prices fell for the first time in 3 years last month – and it was the biggest decline since 2011



https://www.cnbc.com/2022/08/24/hom...e-in-three-years-biggest-drop-since-2011.html

Gee, who coulda seen this coming? shock: I feel bad for all the folks who bought in the past 2 years before inflation took off on all other consumer goods.

 

[Bullitt]

And here we had all the blind bulls just recently telling us this isn't 2008. That doesn't mean housing prices can't go down. I've had two people I work with mention to me in the past month that they overpaid for a house in the past year. At least these two will continue to make payments. What happens when people just start to walk away and demand a bail out?

Now that we're all coming back to earth after this "work from home" scam, there's no need to have the second house in Arizona or Idaho.

Late last month, D.R. Horton said the cancellation rate in its most recent quarter was 24%, up from 17% during the same quarter last year. It was the company’s highest cancellation rate since the first quarter of its fiscal 2019.

https://www.barrons.com/articles/lennar-stock-downgrade-housing-market-51660314479

 

[rangerray]

Good point. I really need mortgage forgiveness.


Scott Harrison
Senatobia, MS

 

[tsptalk]

Home sales fell for the ninth straight month in October, as higher mortgage rates scared off potential buyers

Home sales declined for the ninth straight month in October.

Sales of previously owned homes dropped 5.9% from September to October, according to the National Association of Realtors.

That is the slowest pace since December 2011, with the exception of a very brief drop at the beginning of the Covid-19 pandemic.

https://www.cnbc.com/2022/11/18/home-sales-fell-for-ninth-straight-month-in-october.html

 

[tsptalk]

Home sales tumbled more than 7% in November, the 10th straight month of declines

Home sales declined 7.7% on a monthly basis in November.

Sales were down 35.4% year over year, marking the tenth straight month of declines.

The median sales price rose 3.5% to $370,700 from a year ago.

https://www.cnbc.com/2022/12/21/home-sales-tumbled-november.html

 

[tsptalk]

Home prices cool in January, even falling in some cities, S&P Case-Shiller says

Home prices have been falling for seven straight months, but the decline was a bit smaller in January, likely due to a brief drop in mortgage rates.

Prices fell in cities such as Seattle, San Francisco and San Diego.

https://www.cnbc.com/2023/03/28/hom...n-falling-in-some-cities-sp-case-shiller.html