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Mortgage applications have risen in recent weeks as mortgage rates hit record lows. Millennials can’t afford to buy a house as many of them are struggling financially. The housing market probably won’t recover as fast as expected. The pandemic has hit the U.S. economy hard, and chances of a
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Pending home sales fell 21.8% in April and 33.8% annually, recording their biggest plunge ever. This may be as bad as it gets for the U.S. housing market. One economist has already upgraded his full-year forecasts for residential real estate prices and sales. Housing market bulls braced for a
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A crucial housing market statistic has surged 54% in six weeks after bottoming out in early April. Mortgage applications for home purchases, a proxy for homebuyer demand, have achieved a V-shaped recovery. Economists say the strength in the housing market could help support the broader economy. The U.S. economy
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The housing market is basking in a deluge of positive data. There’s still one statistic that could spell trouble for the recovery in residential real estate. If this trend doesn’t reverse soon, resilient demand alone might not be enough to support home prices. There’s no shortage of optimism in
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The Fed’s buying spree of mortgage-backed securities has driven interest rates to historic lows. Forbearances have saddled lenders with a $1 trillion burden. Lenders are coping by imposing stricter borrower conditions that will inhibit the housing market’s ability to sustain a recovery. The Federal Reserve’s response to the pandemic
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New housing starts have hit a five-year low, while mortgage rates reached another record low last week. These two factors could lead to a reduction in the housing supply, which in turn will push up prices. As with the financial crisis of 2007-8, the downturn will likely have a
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The Fed is going scorched earth on deflation in the housing market. The Federal Reserve has never intervened so forcefully in the economy. But in the process, it’s fueling the greatest of all time asset bubbles. Someone bulldoze the statue in the Lincoln Memorial and put Federal Reserve Chair
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The U.S. housing market is unexpectedly vibrant, given the economic fallout of the coronavirus. Redfin data shows bidding wars are surprisingly commonplace. Here are the real reasons why real estate looks so hot. Real estate brokerage Redfin published some astonishing housing market data this week. Not only has the
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The median U.S. home price hit a new record in April, but the reason why is anything but an optimistic indicator. The apparent heat in the housing market is superficial at best. The true health of the market will be revealed once the deferral benefit is over. The housing
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U.S. housing market demand rose for a fifth consecutive week. The residential “Purchase Index” has recovered to 2019 levels. The sector faces headwinds, but it’s looking less and less like home prices will crash in the immediate future. It’s still too early to say the housing market is out
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