All Posts Tagged: housing market

U.S. Outlook: What’s the current health of the housing market?

Scott Anderson
Chief Economist

Both new and existing home sales dropped sharply in April. So we thought now would be a good time to look at the health of the U.S. housing market, given the 66 basis point rise in 30-Yr mortgage interest rates since the beginning of the year.couple in foreground with toddler on man's shoulders as they look up a small incline to a big white house.

For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on May 25.

Key observations:

  • Existing home sales declined 2.5% to a seasonally adjusted annual rate of 5.46 million in April.
  • Total existing home inventory at the end of April was 1.80 million units, a 6.3% drop from a year ago. Existing home inventories have fallen year-over-year for 35 consecutive months.
  • Low inventory also is having a big impact on home prices and affordability. The median existing home price increased 5.3% year-over-year in April to $257,900, an increase in the median home price of 60% since July 2011.
  • We forecast a modest 0.7% increase in existing home sales in 2018, down from a 1.8% increase in 2017.

Read my full report.

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U.S. Outlook: Retail sales shine in robust holiday shopping season

Scott Anderson
Chief Economist
A woman looking at her phone, while shopping

December retail sales came in at a robust pace, and November sales were revised higher, cementing a decent increase in real consumer spending for the fourth quarter.

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U.S. Outlook: Setting up for a better second half

Scott Anderson
Chief Economist
Graph showing consistent rise in median CPI since 2008.

As the U.S. economy nears the end of the first half, what does the second half of the year hold for team USA?

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In the Market: Picking homes, picking agents

Nneka Madus
Posted by Nneka Madus
Mortgage Market Analyst
Well-dress man and woman, both holding phones, scouting a neighborhood for a home.

It is one thing envisioning your dream home, but actually making an offer on one is a different ball game!

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U.S. Outlook: Should we worry about the consumer?

Scott Anderson
Chief Economist
Graph showing up-and-down trends of retail sales over the past several years.

Despite weakness in January and February data, retail sales are still up a healthy 3.1% from a year ago.

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