Tag Archives: National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI)

The Census Bureau and HUD report that single-family housing completions rose month-over-month in December, boosting housing supply nationwide.

Despite mortgage rates steadily falling over the last month of 2023, overall mortgage application volume slipped nearly 10% over a two-week span to close out the rollercoaster ride that was the housing market of 2023.

Pending home sales in November remained the same as October 2023's report, however NAR expects that to change as the downward trend in mortgage rates is expected to shift home sales upward to close out 2023.

Home builders reversed a four-month downward trend in December, as a reduction in mortgage rates and strong economic data have spurred housing production nationwide.

The MBA reports that week-over-week, mortgage application volume fell 1.8%, partly driven by a 10% decrease in FHA applications as the overall average purchase loan size hit $432,700,

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.