CoreLogic’s Post

Existing home sales have plummeted since early 2021 when they were at a seasonally adjusted annual rate of 6.6 million, according to the National Association of Realtors. In May, that number tumbled to 4.11 million. The housing market is unlikely to recover for several years and affordability won’t get any better unless a recession hits, according to Bank of America economists. Read why: cnb.cx/3xN6Pie

In light of the post below and recent lumber prices, I question to understand the if the housing market will continue to turn south. I have been watching inventory levels of homes rise! Are the institutional investors going to be able to capitalize further on this downward spiral? I equate lumber demand with railcar shipments. I welcome comments from my rail colleagues and economists!

🏡💼 Are you feeling the squeeze of rising housing costs in today's market? Let's delve into some key insights and implications: - Despite a decline in core inflation, the cost of shelter continues to soar, up 6% from last year. - Housing inflation poses challenges for families, impacting inflation calculations and potentially interest rate adjustments. - Higher mortgage rates and home values are making housing more expensive for buyers. - Rent fluctuations vary across markets, with rents rising at a slower pace in recent months. - Economists are cautious about 2024 housing inflation projections, highlighting the ongoing impact on the Consumer Price Index. - While there are signs of a slowdown, homeowners' costs are still on the rise. Let's navigate these trends together and stay informed on the evolving real estate landscape. #RealEstateTrends #HousingMarket #InflationData #MarketInsights #Homeownership #FinancialPlanning

Home prices are declining in some markets—and rising in others. Here's where experts predict the housing market is headed for the rest of 2024. https://lnkd.in/gHWNMxm2

As we move into 2024 with a cautiously optimistic outlook for the new year, this article is spot on. With most Americans suffering "locked in effect" due to lower rates, below 5% and the slow retreat of interest rates by the Feds which to what extent is still unknown, does housing demand still support the current home prices or do we see home prices decline more steadily in 2024? Leave your thoughts below! Brian.H@skylinelien.com Skyline Lien Search Lets talk!

What Does the U.S. Housing Market look like? Snapshot March 2023   ·    2023 Home sales dropped 19% Average ·    Fix Rate 6.11 to 8.45 (Investopedia)                             2024 ( Nationwide Average) ·    US Homes Sales, slowly showing a recovery. ·    8% Increase in Foreclosure Filing ·    Housing Prices have increased on average 6.4% ·    Home sales have increased by 9.5% ·    U.S. still short on home as much as 7.0 million ·    Shortage will remain for many years ·    Average February 2024 Fixed Rate 6.64 (Investopedia) ·    Average Home Price in the US 417,700

**𝗨.𝗦. 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗹𝘂𝗺𝗽 𝗶𝗻 𝗝𝘂𝗹𝘆 𝟮𝟶𝟮𝟰** Pending home sales in the U.S. hit a record low in July 2024, signaling a significant downturn in the housing market. Several factors contributed to this decline: - **𝗛𝗶𝗴𝗵 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲𝘀**: Elevated rates have reduced affordability for many buyers. - **𝗟𝗶𝗺𝗶𝘁𝗲𝗱 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗜𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆**: A shortage of available homes has driven up prices. - **𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗨𝗻𝗰𝗲𝗿𝘁𝗮𝗶𝗻𝘁𝘆**: Concerns about the economy are causing hesitation among potential buyers. This downturn could have broader economic implications, affecting industries tied to real estate. The market's future trajectory will depend on interest rates and housing supply changes. https://lnkd.in/gA5kZVAE

Home Sales on the Horizon! Economists predict a turnaround in 2024. Borrowing costs ease, enticing buyers back. 2023 sees a dip, but NAR expects a 13.5% rise in existing-home sales and a 19% jump in new-home sales for 2024. 📈 #HousingMarket

**𝗨.𝗦. 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗹𝘂𝗺𝗽 𝗶𝗻 𝗝𝘂𝗹𝘆 𝟮𝟶𝟮𝟰** Pending home sales in the U.S. hit a record low in July 2024, signaling a significant downturn in the housing market. Several factors contributed to this decline: - **𝗛𝗶𝗴𝗵 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲𝘀**: Elevated rates have reduced affordability for many buyers. - **𝗟𝗶𝗺𝗶𝘁𝗲𝗱 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗜𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆**: A shortage of available homes has driven up prices. - **𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗨𝗻𝗰𝗲𝗿𝘁𝗮𝗶𝗻𝘁𝘆**: Concerns about the economy are causing hesitation among potential buyers. This downturn could have broader economic implications, affecting industries tied to real estate. The market's future trajectory will depend on interest rates and housing supply changes. https://lnkd.in/ggyWR5c9