Month: August 2022

Housing Market Could be Finding Equilibrium Despite Higher Interest Rates

BrianAnthony

Housing Market Could be Finding Equilibrium Despite Higher Interest Rates Even with a decline in sales, builders have still been able to sell homes with relative ease as demand has outpaced output. Read More CBS Austin https://cbsaustin.com/news/nation-world/housing-market-could-be-finding-equilibrium-even-with-higher-interest-rates-real-estate-freddie-mac-fannie-mae-federal-reserve-mortgage

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9/30/2022 – MetroIntelligence Economic Update by P. DUFFY

BrianAnthony

MetroIntelligence Economic Update by P. DUFFY July consumer spending rises less than personal income In July, personal income increased 0.2 percent, disposable personal income rose 0.2 percent and personal consumption expenditures (PCE) increased 0.1 percent, while the personal savings rate remained steady at 5.0 percent. https://www.bea.gov/news/2022/personal-income-and-outlays-july-2022   Inflation tracker PCE price index falls 0.1 percent in July, up 6.3 percent year-on-year The PCE price index decreased 0.1 percent in July and was up 6.3 percent year-on-year, down from 6.8 percent in June. Excluding food and energy, the PCE price index…

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New Home Sales Fall to Lowest Pace in More than Six Years

BrianAnthony

New Home Sales Fall to Lowest Pace in More than Six Years The tepid sales pace matches declining builder confidence since the beginning of the year as the industry grapples with supply chain disruptions that are delaying new home building projects and raising housing costs as mortgage interest rates increased. Read More NAHB https://www.nahb.org/news-and-economics/press-releases/2022/08/new-home-sales-fall-to-lowest-pace-in-more-than-six-years

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Weak Growth Continues as Housing Slows

BrianAnthony

Weak Growth Continues as Housing Slows The months’ supply of homes for sale that have already been started rose to 7.1; this growing inventory of new homes for sale will reduce single-family housing starts as home builders slow their construction plans due to growing inventories. Read More Fannie Mae https://www.fanniemae.com/research-and-insights/forecast/weak-growth-continues-housing-slows

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8/25/2022 – MetroIntelligence Economic Update by P. DUFFY

BrianAnthony

MetroIntelligence Economic Update by P. DUFFY   New home sales fall 12.6 percent in July and 29.6 percent year-on-year July new home sales fell to their lowest annualized level since Jan. 2016 (511k), while months of inventory rose to the highest since March 2009 (10.9 months). July’s sales were down 12.6 percent from June and 29.6 percent year-on-year. The estimate of new houses for sale at the end of July was 464,000, the highest since March 2008 and up 28 percent year-on-year. While average and median home prices of new…

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