Tag Archives: Housing
November Housing Market Update
Housing market data from the U.S. Commerce Dept. and others show sales and production falling at a rapid rate. The seasonally adjusted annualized rate (SAAR) of single-family housing starts and building permits has fallen for eight consecutive months by about … Continue reading
September Housing Market Update
The average rate on the 30-year mortgage has risen above 6.00% in response to the latest hike in the Fed Funds target rate. Freddie Mac’s Primary Mortgage Market Survey pegged the average rate at 6.29% this week. The CME’s Fed … Continue reading
21Q3 Housing Market Update
The housing market has been quite strong since shortly after the onset of the pandemic, fueled by low interest rates, pent-up demand and a strong desire among urban apartment dwellers to escape the coronavirus. New home sales from May 2020 … Continue reading
An Uncertain Outlook for Housing
2020 was a surprisingly solid year for housing in light of the pandemic and the havoc that it wreaked in other parts of the economy. December data will not be reported until later this month. I project that single-family housing … Continue reading
Housing Market Update – February 2019
The outlook for housing (or more precisely, sentiment about the outlook for housing) has improved in recent weeks, primarily because of the decline in mortgage rates. The average rate on the 30-year mortgage has fallen by 57 basis points (bp) … Continue reading
The Pause that Refreshes the Homebuilders?
It has certainly been a rough year for homebuilding stocks, but not nearly so bad for the housing market. The Lark Research Homebuilder Stock Price Index, an equal weighted average of eleven publicly-traded homebuilder stocks, was down 29.2% year-to-date through December 7. By comparison, the S&P 500 has declined 1.5% and the Russell 2000 has declined 5.7%. Continue reading