Well, Rick, existing home sales in November rose 0.5% to a seasonally adjusted annualized rate of 4.13% million units. That is right along expectations. Sales down 1% from November of last year.Now, this count is based on closing. So, contracts likely signed in September and October when mortgage rates initially came down a little bit but then stayed in a very tight range. The headline on this report is supply.It is coming down again. We've reported on more sellers delisting their homes. There were 1.43% 43 ...

Canadian home prices dipped in November as the tentative momentum the market built through the middle of the year petered out heading into the colder months https://t.co/NvXzZG8asp ...

China’s home-price slump dragged on in November, the latest chapter in a yearslong downturn that policymakers have promised intensifying efforts to address https://t.co/EDasvoszGm ...

Core Insights - The national housing market is not uniform, with significant price variations across states and neighborhoods, yet home prices have increased dramatically over the past five years [1][2]. Price Trends - The median existing home price reached $415,200 in October, a substantial increase from $271,100 five years ago, indicating a rise of approximately 53% [2]. - This price surge has led to a decrease in home sales, which are expected to remain around 30-year lows due to affordability issues for first-time buyers and families looking to move [3]. Regional Market Examples - In New York City, a studio apartment in Lincoln Square is priced at $415,000, with estimated monthly payments of $3,216 based on a 20% down payment and a 6.2% mortgage rate [4][5]. - The median home price in New York City is around $800,000, with Manhattan's median reaching approximately $1.2 million [6]. - In Los Angeles, a one-bedroom condo in downtown is listed for $420,000, with estimated monthly payments of $3,789 under similar financing conditions [7][9]. - The median home price in the Los Angeles metro area is about $1.1 million [9]. - In Chicago, a two-bedroom condo in the River North neighborhood is available for $415,000, showcasing the diverse pricing landscape across major cities [11][12].

Core Insights - The average U.S. home price is currently $360,727, with potential increases if mortgage rates drop to 5% by 2026 [1] - A modest decline in mortgage rates to around 5.9% to 6% could significantly boost buyer demand and home prices [1] Affordability and Demand - If mortgage rates decrease to 6%, approximately 5.5 million additional households could afford a median-priced home, including 1.6 million renters [3] - A drop to 5% would further increase the number of qualified buyers, expanding the pool of potential home purchasers [4] Price Projections - NAR forecasts a 4% increase in home prices for 2026, estimating the average home price to reach approximately $375,156 if rates remain around 6% [5] - If rates drop to 5%, the surge in buyer demand could push prices higher than the 4% increase projected [5] Scenario Analysis - Historical data indicates that every 1% drop in mortgage rates typically brings millions more buyers into the market [6] - A conservative estimate suggests that 5% rates could bring 15%-20% more buyers than 6% rates, potentially leading to a price increase of 6%-7% [7] - This would result in an average home price between $383,170 and $385,978, reflecting an increase of $22,443 to $25,251 from current levels [7]

Toronto home prices resumed declines in November as slowing demand saw properties for sale continue to build up on the market https://t.co/JM17yvkJD6 ...

Australian home prices extended gains in November as demand continued to outstrip supply https://t.co/sH3PIwDsRr ...

Rental Market Dynamics - High home prices are driving more Americans to consider rental options [1] - Invitation Homes' renewal rate was approximately 77% through Q2, with customers staying for about 40 months [2][3] - There is demand for new rental products, with Invitation Homes delivering approximately 1,500 new homes through builder networks in the first two quarters [3] Housing Market Challenges - New home sales data for July came in at 652,000, an 82% year-on-year decline [1] - The cost of homeownership, including property taxes, insurance, and HOA fees, combined with mortgage rates, makes renting approximately $1,000 per month cheaper in Invitation Homes' markets [4] - There is a mismatch between seller and buyer expectations, leading to sellers pulling listings rather than lowering prices [4][5] - The number of units on the market for sale has increased from approximately 1 million three years ago to approximately 2 million, indicating a liquidity issue rather than a supply issue [6] Mortgage Rate Impact - 16-19% of Invitation Homes' customers are moving out to purchase a home, lower than the typical 20-25% [8] - A decrease of 100 basis points in mortgage rates could potentially stimulate more aggressive buyer activity in the housing market [10]

China’s home-price slump worsened in October, ending a traditionally peak sales season with a weak reading as recent loosening measures failed to revive the market https://t.co/DhyAu9iIdf ...

It was a conj job. Affordability, they call it, was a conjob by the by the Democrats. The Democrats are good at a few things.Cheating on elections and conning people with facts that aren't true. They said, "Oh, I don't want to talk about affordability." The reason I don't want to talk about affordability is because everybody knows that it's far less expensive under Trump than it was under Sleepy Joe Biden. And the prices are way down.As President Trump on Friday, calling the Democratic Party's focus on affo ...