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The share of San Francisco sellers losing money on their home sale is sitting near its highest level in more than a decade, largely because prices have come back down to earth after skyrocketing during the pandemic. Nationwide, the share of sellers losing money is much smaller (4%) because home prices remain near their record high. In San Francisco, the typical seller who’s parting ways with their home for less than they originally paid is losing $155,500. Nationwide, the median loss is roughly $40,000. New England sellers are least likely to lose money, with less than 2% of Providence, RI...

February’s existing home sales are like a scoop of cottage cheese. Seemingly satisfying until you look more closely at the data (or get hungry 30 minutes later). Existing home sales soared a stunning 9.5% MoM in February, smashing the expectation of a 1.3% decline and building on the 3.1% MoM in January. However, even with the big monthly jump, existing home sales remain down 3.3% YoY… Source: Bloomberg Total existing home sales SAAR surged to 4.38mm – a 12 month high… Source: Bloomberg Homeowners may be accepting that mortgage rates are settling into a new normal and can’t delay moving...

American homebuyers are going down the road of Bidenomics and feeling bad. Is this the roadmap for the US?? Existing Home Sales fell 1.0% MoM in December, worse than the +0.3% expected, leaving sales down Source: Bloomberg Total Existing Home Sales in December 2023 were 3.78mm – the lowest SAAR since 2010… Source: Bloomberg But, on an annual basis, this is the worst year on record (back to at least 1995).. Source: Bloomberg “The latest month’s sales look to be the bottom before inevitably turning higher in the new year,” said NAR Chief Economist Lawrence Yun. “Mortgage rates are meaningfully...

Existing home sales fell to their lowest point in 28 years in 2023, while the median price of a home reached a record high, according to a new report from the National Association of Realtors (NAR). Sales of previously owned homes dropped to 4.09 million last year, marking the lowest annual level of home sales since 1995, the report found. The median price of an existing home, on the other hand, rose to an all-time high of $389,800. Home sales fell 1 percent last month alone and fell 6.2 percent compared to December 2022, to a seasonally adjusted annual rate...

For November, US existing home sales are down -7.28% since last year. At least that is an improvement over -14.6% YoY in October. But, the gap between current rates and effective rates for Americans is still immense… Source: Bloomberg The median existing-home price for all housing types in November was $387,600, an increase of 4.0% from November 2022 ($372,700), but down MoM… All four U.S. regions posted price increases. “Home prices keep marching higher,” Yun added. “Only a dramatic rise in supply will dampen price appreciation.” Well, with housing starts accelerating in the latest data and Powell’s massive pivot, has...

US home sales are headed for the biggest slowdown since 2011, according to Fannie Mae. The government-sponsored mortgage finance company forecasted total home sales to slump to just 4.8 million this year, marking the slowest sales environment since 2011. That figure will only improve slightly in 2024, with total home sales expected to hit 4.9 million, Fannie Mae economists said. The slump in sales is partly being influenced by high mortgage rates, with the average rate on the 30-year fixed mortgage rising to 7.18% over the last week, according to Freddie Mac data. That means prospective home buyers are facing...

Wasting away again in Biden’s Mortgage Market! Looking for our lost economy. Mortgage rates moved to their highest levels in over 20 years as Treasury yields increased late last week. The 30-year fixed mortgage rate increased to 7.41 percent, the highest rate since December 2000, and the 30-year fixed jumbo mortgage rate increased to 7.34 percent, the highest rate in the history of the jumbo rate series dating back to 2011. Mortgage applications decreased 1.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 22, 2023....

Is Bidenomics the proverbial “Highway to hell”? The most recent report on US exisiting home sales showed that sales decreased in 17 of the last 19 months as The Fed tightens monetary policy to combat inflation caused by … 1) The Fed and 2) Bidenomics spending on green energy. The US housing market will be “back in black” once Biden and Congress stop their reckless spending and borrowing. Biden has added $5,352,202 to the national debt since being selected (not by me!). That is a 19% increase in The Federal debt in just 33 months! Not to mention the ludicrous...

KEY POINTS • The median price of a home sold in July was $406,700, an increase of 1.9% from July of last year. • Sales fell month to month in all regions except the West, where they gained 2.7%. Sales fell the most in the Northeast, down 5.9%. • There were 1.11 million homes for sale at the end of July, 14.6% fewer than July 2022 and about half of the pre-Covid supply. Sales of previously owned homes dropped 2.2% in July from June to a seasonally adjusted, annualized rate of 4.07 million units, according to the National Association of...

Biden has a line on you! And it isn’t good. More like we are fish being caught and eaten by Washington DC bureaucrats. Another example of Biden’s dismal economy. US pending home sales plunged -22.6% YoY in April. Even worse, REAL weekly wage growth has been negative for 23 straight months! What I like about the Biden/Yellen economy? Nothing!!

New home sales jumped last month despite consistently high mortgage rates that experts say have hampered affordability and pushed potential buyers out of the market. Sales of new single-family homes rose by 7.5 percent in October at a seasonally adjusted annual rate of 632,000, according to Census Bureau data released on Wednesday. But the new sales fell behind the October 2021 estimate by 5.8 percent. The median sales price of new single-family homes sold in October was $493,000, while the average sales price was $544,000. New sales numbers follow separate data released last week that shows existing home sales declining...

New home sales in the United States shrank 8.1% from a month earlier to a seasonally adjusted annual rate of 590,000 in June of 2022, well below market expectations of 660,000. It is the lowest reading since April of 2020, as the housing market is cooling due to a rise in mortgage costs. Sales fell in the West (-36.7%), the Northeast (-5.3%) and the South (-2%) but rose in the Midwest (42.3%)

Remember the booming housing market — where Americans had great opportunities to relocate and/or trade up? Those days are likely to become a fading memory, thanks to rising interest rates, and arguably have already come to a screeching halt. CNBC reported that the latest data from the National Association of Realtors (NAR) showed the worst result in two years for sales of existing homes:Sales of existing homes in May dropped 3.4% to a seasonally adjusted annualized rate of 5.41 million units, according to the National Association of Realtors.Sales were 8.6% lower than in May 2021. April’s sales were revised slightly...

US existing home sales fell -7.24% from January as mortgage rates soar. On a YoY basis, existing home sales declined by -2.43%. The median price of existing home sales “slowed” to 15% YoY in February as inventory picked-up slightly. And yes, Fed Stimulypto is still around and hasn’t helped increase inventory for sale. As I said earlier, we are seeing the Treasury yield curve plunging towards recession.

Surprise! US existing home sales in January rose to 6.50 million units SAAR versus the expected 6.10 million units. That is a 6.7% increase over December. The disturbing news is the continued lack of available inventory that peaked in Q4 2007 and has continued its decline to today … the lowest level of available inventory since 1981. Despite the Fed’s massive stimulus that they allegedly will take away. Median price of existing home sales rose to 15.4% YoY. Making homes affordable should NOT be a slogan for The Federal Reserve, the Biden Administration or Congress. The massive Federal stimulypto (fiscal...

Sales of new homes soared in January to a blistering seasonally adjusted annualized rate of 923,000, the Commerce Department said Wednesday. That puts sales 4.3 percent above the revised December rate of 885,000 and 19.3 percent above the January 2020 estimate.

WASHINGTON (Reuters) - U.S. manufacturing activity surged to its highest level in nearly 14 years in early January, but bottlenecks in the supply chain caused by the COVID-19 pandemic are driving up prices and signaling a rise in inflation in the months ahead.

In just four weeks, voters from all corners of this bitterly divided country will cast their votes for the man who will either become or remain America's next president. Pollsters, pundits, and politicos have obsessed over the ever-shifting electoral map and how a handful of swing counties and states could decide whether President Donald Trump or former Vice President Joe Biden will be named the nation's commander in chief in what is shaping up to be the most contentious election ever. There's a head-spinning number of variables at play: the continuing coronavirus crisis, a struggling economy, a reckoning on systemic...

Sales of existing homes rose 2.4% in August to its highest level since 2006 as the housing market recovers from a widespread shutdown in the spring brought on by the coronavirus outbreak. The National Association of Realtors said Tuesday that sales rose to a seasonally adjusted annual rate of 6 million homes sold last month. Sales are up 10.5% from a year ago and back to pre-COVID-19 levels of early 2020. Although the pace of sales has slowed significantly after back-to-back months of more than 20% gains, it’s the third straight monthly gain after big, consecutive declines in March, April...

Key Points Sales of existing homes soared 24.7% in July from June, according to the National Association of Realtors. The supply of existing homes plummeted 21.1% annually, with just 1.5 million homes for sale at the end of July. The median price of a home sold in July rose 8.5% annually to $304,100. ================================================================================= Sales of existing homes soared 24.7% in July from June, according to the National Association of Realtors. That’s the strongest monthly gain in the history of the survey, going back to 1968, and the highest sales pace since December 2006. Sales were 8.7% higher from July...