Tag Archives: Odeta Kushi

When it comes to housing affordability, sometimes sitting on the sidelines can benefit prospective buyers, as First American Deputy Chief Economist Odeta Kushi explains.

The price of new home sales experienced a near 17% decline in April, hitting its lowest level in two years.

The rise in mortgage rates and inflationary concerns are impacting new residential construction, as borrower costs continue to force many prospective buyers to the sidelines.

As the quest for the American Dream continues, homebuyer competition intensifies amidst rising rates, record high prices, and insufficient inventory.

Despite lingering supply chain concerns, there were 811,000 single-family units under construction in March, marking the highest level since 2006.

With mortgage rates jumping for four consecutive weeks, overall mortgage application volume continues to suffer, dropping 6.3% over the previous week.

After the Fed decided to raise rates last week, mortgage rates followed suit and edged up to 4.42%, up 26 basis points over last week and forcing more prospective buyers to the sidelines.

Sales of new single‐family houses were at a seasonally adjusted annual rate of 772,000 in February, falling 2% below January’s rate of 788,000.

For the first time since May of 2019, mortgage rates have risen above the 4% mark, on the heels of news that the Federal Reserve has upped short-term rates.

Overall mortgage application volume fell week-over-week, as investors continue to weigh the impact of rapidly increasing inflation nationwide.