Last week, we received the inflation data showing that the consumer price index (CPI) rose 0.3% in January month-over-month, according to Jeff Cox of CNBC. The year-over-year inflation rate was…
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Newsletter:
Rate cut expectations dampen on strong economy
Robert Dietz of the National Association of Home Builders (NAHB) reports that although the Federal Reserve held the federal funds rate steady at 5.5%, markets expect a rate cut. That…
Rate cut expectations in 2024 diminish on strong economic data
Apartment List released its monthly rent data report showing a continued slowdown in rent growth. The market saw negative rent growth for the sixth month in a row, with the…
Home sales surge in early 2024
According to Orphe Divounguy of Zillow, new home sales rebounded in December despite higher mortgage rates. According to the data, in December, 664,000 new single-family homes were sold nationwide annualized,…
Fannie says rates to go below 6% in 2024
According to Freddie Mac, mortgage rates have decreased to the lowest level since May 2023. “This is an encouraging development for the housing market and in particular first-time homebuyers who…
Will we see an early spring market in 2024
As mortgage rates hold steady, Dana Anderson of Redfin reports that there has been an increase in new listings and home tours. Mortgage-purchase applications are up 3% from a month…
Apartment market to soften in 2024
According to a new report from RealPage, apartment rents have remained flat for the past few months as apartment supply hit record levels. Specifically, apartment supply hit a 36-year high…
More modular will accelerate housing supply
Robert Dietz of the National Association of Home Builders (NAHB) reports on new home sales, which slowed by 12.2% in November due to high interest rates. Given rates have been…
2024 will be a buyer’s market, reports
Dana Anderson of Redfin reports this week that listing consults with its agents have risen significantly since rates began to fall. Redfin economists “expect buyers will take advantage of lower…