After a very disappointing first quarter of the year with home sales failing to climb over 2024’s already anemic levels, signs are finally emerging that we’ve turned the corner to have some growth. This week’s pending home sales count came in just under 69,000 single family homes, which was 2.3% greater than the same week a year ago. That’s really the first week all year where home sales exceeded those of 2024. Home sales aren’t strong, of course. But mortgage rates are now below ...| Altos Blog
How will the housing market change as our economic assumptions change for the first time in a long time?| blog.altosresearch.com
The spring housing market is trying to find its footing. Pending home sales inched up for the week with some small gains, and new listings volume hit its biggest week since September. List prices also inched up for the week, though sales prices did not advance. But there are still plenty of weak signals in the housing market. Unsold inventory of homes on the market is 28% greater than last year. Withdrawal rates are also much higher than last year. These are the listings that don’t get of...| Altos Blog
Over the last two months of economic uncertainty, the yield for the 10-year treasury has declined by 60 basis points from 4.8% to 4.2%. The 30-year fixed mortgage has followed suit, recently falling as low as 6.75% - that’s the lowest level since mid December. It’s quite obvious that stubbornly high mortgage rates slowed down early season home buyers here in the first quarter of 2025. Our weekly pending home sales data continues to run about 3% fewer than last year. This is after Q4 was...| Altos Blog
As potential home sellers see weak demand in the market - offers not being made, price reductions, etc. - they're choosing not to test the market.| blog.altosresearch.com
We’re noticing some signals in the data that home prices could turn negative this spring, showing year-over-year declines for the first time since 2023.| blog.altosresearch.com
Bond markets have driven mortgage rates back to the highs, and home sales are suffering.| blog.altosresearch.com