We're bringing the demand and supply more in balance with each other. We can gradually see price appreciation decline a bit, but in a gradual, manageable way. |
We're fairly confident that third-quarter home sales will prove to be the high point of the five-year housing boom. |
We're seeing signs of stabilization in the market. Home sales should level out in the months ahead. |
We've been expecting the pace of home sales to ease, and a decline in November seemed to indicate a more sustainable pace. But the rebound in December ? the second highest monthly pace on record ? shows there's still a lot of life in this market. |
We've had favorable housing affordability conditions for some time, but what's new is the effect of a gradual increase in consumer confidence, combined with a turnaround in the economy, ... As a result, some people who've held back from major commitments over the last few months have entered the housing market. |
We've had favorable housing affordability conditions for some time, but what's new is the effect of a gradual increase in consumer confidence, combined with a turnaround in the economy. As a result, some people who've held back from major commitments over the last few months have entered the housing market. |
What we have here is still the soft-landing scenario we've been predicting over this year. I suspect the increase we have in this report is an aberration because of the weather. |
What we're seeing now is a natural easing after a record pace of home sales in the third quarter. |
When mortgage interest rates first began to rise from record lows, it appears some buyers jumped into the market to take advantage of good affordability conditions before interest rates moved even higher, |
When mortgage interest rates first began to rise from record lows, it appears some buyers jumped into the market to take advantage of good affordability conditions before interest rates moved even higher. |
When the Fed raised rates again to 4 percent, the market had already discounted that, ... But over the next month, the markets will start expecting the Fed to raise rates again to 4.25 percent and that's going to push rates again. |
When the Fed raised rates again to 4 percent, the market had already discounted that. But over the next month, the markets will start expecting the Fed to raise rates again to 4.25 percent and that's going to push rates again. |
With 30-year fixed mortgage interest rates a little under 7.0 percent, and expected to stay near this level for the balance of the year, we project existing-home sales to nearly match last year's performance. |
With a recent rise in interest rates, the housing affordability index can be expected to slide but remain very favorable, |
With a recent rise in interest rates, the housing affordability index can be expected to slide but remain very favorable. |