Realtogy

New Home Construction (September 2024) Housing Starts eased MoM in September, as a decline in multi-family projects outweighed the increase in single-family home building. Building Permits, a sign of future construction, saw a similar pattern. Limited new supply (relative to household growth) should continue to support home prices. #homebuyers #homebuilder #newconstruction #realestate

MBS Highway Housing Index (October 2024) The MBS Highway National Housing Index was flat in October 2024 at 40, with a modest increase in buying activity offset by weakening home price momentum.

Pending Home Sales (August 2024) Pending Home Sales (signed contracts on existing homes) rose 0.6% from July to August, rebounding from their lowest level in a year. NAR’s Chief Economist, Lawrence Yun, noted that the slight move higher in activity “reflects a modest improvement in housing affordability."

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Home Builder Sentiment (September 2024) Confidence among home builders rose 2 points to 41 in September, breaking a streak of four straight monthly declines. Lower mortgage rates have boosted sentiment overall as well as optimism for the future, as the component measuring future sales expectations moved into expansion territory above the key breakeven threshold of 50.

Don't Ignore the 'Cost of Waiting' to Buy a Home Would you like an extra $24K of net worth in a year? How about an extra $100K over 5 years? If you're thinking about buying a home, don't ignore the 'cost of waiting.' Not only do you miss significant capital appreciation when home prices rise, you'll also pay more for the home later.

Pending Home Sales (July 2024) Pending Home Sales (signed contracts on existing homes) plunged 5.5% from June to July, as the index hit its lowest level in a year. However, NAR’s Chief Economist, Lawrence Yun, noted that “current lower, falling mortgage rates will no doubt bring buyers into market."