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One of the more interesting articles I have read recently on the housing market in the USA.
The article's title :
A few takeaways from the article:
- main driver of the slowdown is rising mortgage rates (not housing prices- but there must be a correlation)
- Prices are now 43% higher than they were at the start of the MAR 2020 virus
- supply of homes for sale is growing, up 27% at the start of September compared with the same time a year ago
- Active inventory is still 43% lower than it was in 2019 (this is what I see is the real factor in current and potential future housing prices, still only about half the homes on the market today then were for sale in 2019, and interest rates in 2019 were lower than rates today)
My .02, unless more new construction homes become available, it is not likely housing will fall hard, as people need a place to live. Heck, plane tickets are up over 40 percent from just a few months ago, yet nearly every seat on every flight has a body sitting in the seat. Tough times may very well be coming, but I am not seeing it at the current moment.
The article's title :
Confused about the housing market? Here’s what’s happening now – and what could happen next
A few takeaways from the article:
- main driver of the slowdown is rising mortgage rates (not housing prices- but there must be a correlation)
- Prices are now 43% higher than they were at the start of the MAR 2020 virus
- supply of homes for sale is growing, up 27% at the start of September compared with the same time a year ago
- Active inventory is still 43% lower than it was in 2019 (this is what I see is the real factor in current and potential future housing prices, still only about half the homes on the market today then were for sale in 2019, and interest rates in 2019 were lower than rates today)
My .02, unless more new construction homes become available, it is not likely housing will fall hard, as people need a place to live. Heck, plane tickets are up over 40 percent from just a few months ago, yet nearly every seat on every flight has a body sitting in the seat. Tough times may very well be coming, but I am not seeing it at the current moment.
Confused about the housing market? Here's what's happening now – and what could happen next
From rising rates to low inventories, here's what you need to know about the topsy-turvy U.S. housing market.
www.cnbc.com