Fresh housing data just crossing. Diana Olic has that for us. Diana.Well, David, pending home sales in May rose 1.8% from April and were 1.1% higher than May of last year. That according to the realtors. This is a small beat.The street was actually looking for basically flat. Now, this count is based on signed contracts. So, people out shopping in May when mortgage rates were climbing and briefly went over 7% on the 30-year fix.Regionally, sales were strongest month-to-month in the Northeast and West, but c ...

Welcome back to Power Lunch. Some new data out this morning. Pretty gloomy picture of the housing market as new home sales fell nearly 14% in May.High mortgage rates and affordability are continuing to challenge buyers. And that was the biggest monthly drop in almost three years. Let's get some more insight on what's going on here with power broker Ryan Sirant, the founder and CEO of Sirand.And uh Ryan, I I can't res. So I mean we've we got all the developments in New York City in particular today, right. I ...

As college prices increase, more Americans are opting out of college. However, more students would likely return to college if given clearer and cheaper paths to a degree. https://t.co/0sxa1nwC6C ...

For more on this state of housing and mortgage demand, let's bring Matt Ishbia, CEO of United Wholesale Mortgage. The company is the number one mortgage originator in the country. Matt, it's great to have you back on the show.Welcome. Let's start right there. Is 7% the new normal.You know, I don't I don't know. I It seems like it's been there for a little while, but the the truth is you got to shop around. There's a lot of people that get rates at the six and a quarter, six and a half, and there's of course ...

You go to California and sometimes to get a building permit takes you 3 years. You know in New York it's impossible. So in my business it is much easier to build here.What worries me is affordability. The middle class and the working class where do they live. The moment that we build a mid-inccome or affordable housing product it gets consumed immediately.The demand is never ending because people do want to be close to their jobs. They just can't afford to be close to their job. Over the last 5 years, media ...

Homebuilder confidence fell in June, logging its third lowest reading since 2012. Buyers struggling with affordability stayed on the sidelines, even as builders lowered prices. https://t.co/ZRCgV2QSrL ...

Confidence among US homebuilders in June hit its lowest level since December 2022 as high mortgage rates and policy uncertainty hit wouldbe buyers. With more on the landscape for homebuilders, we have Katie Hubard, Walton Global's executive vice president of capital markets joining us now. So Katie, there was actually an expectation we would see sentiment rebound here.Clearly not the case. What does this tell us about where home builders and really the overall housing market stand right now. Yes.Hi Ally, th ...

Market Sentiment & Economic Indicators - Home builder sentiment dropped to 32 in June, a level surpassed only twice since 2012, indicating significant concern in the housing market [1] - High mortgage rates, tariffs, and overall economic uncertainty are cited as key factors impacting builder sentiment [2] - Buyer traffic fell to its lowest reading since the end of 2023, signaling weakening demand [3] Builder Actions & Pricing Strategies - 37% of builders are cutting prices, the highest share in three years, to stimulate demand [3] - The average price reduction is 5%, reflecting efforts to attract buyers [3] - Builders are facing challenges in affordability, even with mortgage rate buy-downs, impacting consumer qualification [6] Regional Performance & Future Outlook - NAHB forecasts a decline in single-family housing starts for 2025, suggesting a pessimistic outlook [4] - The South and West regions are experiencing the weakest performance, impacting areas with high homebuilding activity [4] Company Specific Data - LAR's average home price on closings is down nearly 9%, mirroring the broader trend of price reductions [6]

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Retirement Destination Analysis - The list identifies top retirement spots in America based on quality of life and affordability [1] - Key factors include housing costs and state taxes [1]