Commentary

“Our Potential Home Sales Mode has now increased for four consecutive months alongside generally lower mortgage rates, providing some optimism,” said Mark Fleming, Chief Economist at First American.

HouseCanary reports the number of homes that experienced price cuts increased over 130% year-over-year, as the market has been reported to be adjusting to continuous rate hikes.

According to a new LendingTree study, more than eight million adults throughout the U.S. aren’t caught up on rent, citing continued affordability constraints, and greater overall housing costs.

“Home sales activity looks to be bottoming out in the first quarter of this year, before incremental improvements will occur,” said NAR Chief Economist Lawrence Yun.

“2023 began as 2022 had ended, with U.S. home prices falling for the seventh consecutive month,” says Craig J. Lazzara, Managing Director at S&P DJI.

Due to stronger economic performance than expected in Q1, Fannie Mae has pushed back the predicted recession to start sometime in the second half of the year.

The Hartford Home Fire Index, published by The Hartford, a property and casualty insurance provider, has released its third index tracking the probability of home fires in the top 150 metropolitan areas.

Many parties work in concert in the lead-up to building and selling a home; zoning is one area that can be reformed to make affordable housing a feasible goal.

The S&P CoreLogic index fell on both a monthly and yearly basis. Click through to see the research and commentary from Craig J. Lazzara, Managing Director at S&P DJI.

However, while monthly numbers show a short-term improvement, the National Association of Realtors found the market to be down nearly 25% year-over-year.