Housing Market Predictions: Can Unmarried Buyers Help Save the Market?

The Federal Reserve decided to pause rate hikes, but was it the right decision? And what does this mean for the future or mortgage rates, home sales, jobs, and the economy at large? In this episode:

  1. The Fed pauses its rate hikes for now, will it last?
  2. Labor and inflation will help mortgage rates in 2024
  3. US Home Price Insights – September 2023
  4. Homebuilder sentiment goes negative for the first time in 7 months, thanks to higher mortgage rates

Housing Market Predictions: Can Unmarried Buyers Help Save the Market?

The headlines are on the move in real estate and mortgage! Every week new data surprises us with new ways people are getting creative to achieve their homeownership goals! This week we breakdown:

  • More unmarried couples are buying homes together. What to know before you do.
  • Mortgage demand drops to 27-year low as interest rates pull back.
  • Mortgage rate tipping point: Homeowners saw roughly 5% is the magic number to move.
  • Housing market predictions: The Forecast for the next 5 years

Home Prices Flattened While Mortgage Rates Peaked, but Are They Related?

Recent reports and research reveal we’re experiencing some anomalies in housing and real estate. So today we talked about these recent hot topics to try and make sense of everything that changing:

  • Mortgage payments increased 17% annually to $2,162 in July 2023
  • Did we reach the peak for mortgage rates this year?
  • US CoreLogic S&P Case-Shiller Index Was Even Year Over Year in June, Signaling a Market Shift
  • Single-family construction slows across the country in Q2

The Future for Mortgage Rates and Home Sales

Look, there’s no easy way to address all these market conditions happening right now, so we’re tackling them head on!

1. New Listings Take a Hit, possibly due to higher mortgage rates. So Where are Mortgage Rates Headed?

2. New Home Sales Grow, even with Higher Rates, can this sustain?

3. Home sales will be weak in 2024 regardless of “soft landing” per Fannie Mae.

4. Jerome Powell says the Housing sector is showing signs of picking back up.

Mortgage rates hits highest since 2000 – Demand drops – Home sales slump – Inventory takes a hit

With so much happening all at once it can be easy to feel like we’re not in the middle of a storm; however, it is vital to face facts and address what’s happening in real estate and mortgage. On deck today we have real estate Inventory growth is slow, Home sales fall again in July, as supply drops to near quarter-century low, Mortgage rates hit their highest point since 2000, Weekly mortgage demand drops again, as interest rates match a 22-year high.

Mortgage Delinquencies & The Fall 2023 Housing Forecast

Boy oh boy this weeks show has a LOT packed in it. The Mortgage Bankers Association (MBA) reported that the mortgage delinquency rate fell to its lowest level since it began tracking this metric 43 years ago, supporting claims the economy is on the cusp of a turnaround – but is it?

Affordability fell across the board due to surging home prices. The median sale price in high-opportunity neighborhoods grew 100% since 2012, while the median sale price in low-opportunity neighborhoods jumped 174%.

Fannie Mae’s most recent “Home Purchase Sentiment Index” (HPSI) reveals 82% of consumers reported that it’s a “bad time to buy” a home, a new survey high. It’s up from 78% in June. That’s a bad sign for real estate.

There are about 10% fewer homes on the market now than there were in 2022 at this time. In 2022, mortgage rates climbed rapidly and inventory climbed rapidly. That’s the Altos Rule. When mortgage rates eased down in the beginning of the year, so did the available inventory of unsold homes. Now, rates are not falling. They’re staying stubbornly higher around 7% so inventory hasn’t yet started its decline for the fall. Look for that decline to start in September with fewer sellers, unless rates jump like they did last September. Mortgage

Home prices Rebound, Equity Recovers, and Homebuilders Hesitate – WHAT IS GOING ON!?!?

There’s a lot to unpack here. The bottoming out of home prices that everyone seems to be predicting isn’t happening. While at the same time, affordability is at a 38 year low, and homebuilders are hesitating. Is this fueling corporate take overs of residential real estate and boosting asset values like Blackrock’s newly achieved $1 Trillion?

Remembering Tanya & Memo’s Son Cristian – How we honor him to this day

“Cristian’s Big Heart” honors the legacy of Tanya & Memo’s son Cristian Acosta‐Flores whose life was cut tragically short on September 1, 2014 (one day shy of his 19th birthday) due to complications from an undiagnosed enlarged heart.

Sudden cardiac arrest (SCA) is the leading cause of death of student athletes and the second leading death of youth under the age of 25. It’s known as the “Silent Killer” because in a heartbeat it can take the life of someone you love. The tragedy is that SCA is detectable.

Cristian’s Big Heart aims to carry forward Cristian’s legacy by promoting education on heart health and preventing such heartbreaking incidents from affecting more families in our community.

Organizations mentioned in this episode:

What an unsure Federal Reserve mean for homeowners and consumers

Jerome Powell and the Federal Reserve made their most recent rate hike decision, policy statement and answered press questions last week. Let’s talk about what we learned, what we’re still waiting to see, and how this impacts homeowners, consumers, and businesses.

Benefits & Risks of Artificial Intelligence in Mortgage and Real Estate

Artificial intelligence (AI) is rapidly transforming the real estate industry, providing a wide range of benefits for both buyers and sellers. Today we unpacked some AI uses along with some proposed uses and discuss whether the benefits are worth the risks. Could this cause a Great Divide between tech adopters and traditionalists?