Prices
Disconnect Between Home Sales, Prices, and Rates
Posted To: Mortgage Rate Watch This week’s New Home Sales report (for the month of March) stole the show, coming in over 1 million for the first time since 2006. But although sales are up 66% year-over-year, prices have fallen in recent months and are now basically unchanged from last year. What’s up with that? […]
Lumber Prices and Rising Rates Take a Toll on Builder Confidence
Escalating costs took a toll on builder confidence this month. The National Association of Home Builders (NAHB) said its Housing Market Index dipped two points from its February level. At 82 it is down 8 points from the all-time high it established last November. NAHB’s chief economist Robert Dietz said, while there is still a high […]
Housing Market Update: Home Prices Increased a Record 17%, Pending Sales Up 19% From a Year Earlier
The average sale-to-list price ratio passed 100% for the first time as home prices surge….(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Around The Web
All Metro Areas Saw Home Prices Rise During Fourth Quarter of 2020
Placeholder Eighty-eight percent of the metros followed (161 areas) saw double-digit price increases. Media Contact: Quintin Simmons 202-383-1178
Home Prices Still Soaring; Rates Closing Out 2020 at Record Lows
For all practical purposes, the year is over when it comes to mortgage rate volatility. True, there is some small chance that political developments conspire to push rates just a bit higher in the next two days, but the damage would be insignificant in the bigger picture. In other words, we’re looking at “all-time low […]
Housing Affordability Declines in October 2020 Amid Surging Home Prices
Affordability declined in October compared to September as the median family income rose by 3.3% while the median home prices grew by 16.0%. www.nar.realtor – Research
Housing Affordability Declines in September 2020 as Median Family Prices Continue to Surge
At the national level, housing affordability declined in September 2020 compared to a year ago but rose compared to August. www.nar.realtor – Research
Housing Affordability Weakens in August 2020 as Home Prices Rose Faster than Median Family Incomes
At the national level, housing affordability declined in August 2020 compared to a year ago and fell compared to July. www.nar.realtor – Research
Update: Framing Lumber Prices Up 65% Year-over-year
Here is another monthly update on framing lumber prices. This graph shows CME framing futures through Oct 2nd. Click on graph for larger image in graph gallery. This is down sharply from late August, but still up 65% year-over-year. There is a seasonal pattern for lumber prices, and usually prices will increase in the Spring, […]
Housing Affordability Drops Modestly in July 2020 as Median Family Prices Reach All Time High
At the national level, housing affordability showed signs of improvement in July 2020 compared to a year ago but dipped compared to June. www.nar.realtor – Research