Home sales will cool off for the rest of this year and next: Fannie Mae
Projected growth in new home sales wouldn’t offset expected drop in existing home sales The level of existing home sales in July exceeded forecasts, but Fannie Mae economists predict that home buyer demand will slow for the rest of this year and next, due to the limited number of homes available on the market. The […]
Vacation-Home Sales Defy Housing Market Slowdown
The vacation-home market has boomed over the past year and is not likely to slow any time soon, even as the rest of the housing market starts to cool, Lawrence Yun, chief economist for the National Association of REALTORS®, told The Escape Home, a newsletter for second-home owners. Even as companies bring employees back to the […]
Mortgage Rates in Holding Pattern
It’s been some time since I posted a blog, I’ve been asked so many questions about the market, it’s time I share my data and thoughts. Mortgage rates for the seventh week in a row were 2.9% or lower.Nadia Evangelou, a senior economist and director of forecasting for the National Association of REALTORS, suggests that […]
Builder confidence falls!
Builder confidence fell by 5 points to 75 in August, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released on Tuesday August 17th. I have been asked why I haven’t posted recently. With Covid, the Multiple offer market, lots of properties accepting offers before it goes on the market, […]
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