Tag Archives: Existing-home Inventory

As Americans hold tightly to their low mortgage rates, more than 90% of homeowners remain financially disincentivized from selling their homes, as it would cost more to borrow the same amount of money they owe on their current mortgage. A new study from First American dives into the situation.

While the “if” and “when” of a recession remain uncertain, the Fannie Mae Economic and Strategic Research Group does forecast one to occur, expected to begin in the first half of 2024—despite increased chances of a “soft landing.”

The MBA reports that despite rates over the 6% mark and low for-sale inventory stunting overall sales, mortgage applications for new home purchases increased 0.6% in March compared to one year ago.

"Conscious of changing mortgage rates, home buyers are taking advantage of any rate declines," said NAR Chief Economist Lawrence Yun.

HUD and the Census Bureau report that single‐family housing starts in June were 8.1% below May’s figure, as builder confidence continues to fall.