According to Odeta Kushi, First American's Deputy Chief Economist, there has never been an official or general agreement on what constitutes a housing recession.
Read More »Existing-Home Sales Dip in June, Hit Slowest Pace Since January
A new report from NAR shows existing-home sales dipped 3.3% from May, while the median existing-home price for all housing types reached its second-highest mark of all time in June.
Read More »Existing-Home Sales Settle in June
According to First American’s Potential Home Sales Model, the nationwide sales pace will begin to settle into a new normal, as potential existing-home sales decreased in June, suggesting they may have hit bottom.
Read More »Purchase Mortgage Apps Rise for Third Consecutive Week
The MBA reports that new home sales have been driving purchase activity in recent months, as buyers continue to seek options beyond the existing-home market.
Read More »Mortgage Rates Fall for Third Straight Week
Even as mortgage rates fall, continued inventory concerns and affordability issues are keeping many on the sidelines as the summer buying season gets underway.
Read More »Fannie Mae: Recessionary Conditions Still Expected in 2023
“There are select data available to support several alternative views of the path of the economy, though we maintain our view that a modest recession will begin in the second half of 2023,” said Doug Duncan, SVP and Chief Economist at Fannie Mae.
Read More »‘Bouncing Back and Forth’: Existing-Home Sales Drop in April
"Home sales … remain above recent cyclical lows," said National Association of Realtors Chief Economist Lawrence Yun, who noted that economic factors were creating “an environment of push-pull housing demand.”
Read More »Housing Market Struggles Headed Into Peak Summer Season
“The housing market remains sluggish heading into the spring homebuying season. While mortgage rates have retreated from recent peaks, they remain elevated compared with one year ago,” Chief Economist Mark Fleming said.
Read More »Experts Predict Home Improvement Spending to Decline by 2024
Harvard's Joint Center for Housing Studies released its Leading Indicator of Remodeling Activity report, which projects that year-over-year expenditures for homeowner improvements and repairs will experience a near 3% decline through Q1 2024.
Read More »Home Sales Attempt to Recover After 2.4% Slide in March
While overall sales declined 22% from a year ago, existing-home sales dipped lower in March after month-over-month sales declined in three out of four major U.S. regions, according to a new report from the National Association of Realtors.
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