Over the summer, many of the home builders started rallying in anticipation of rate cuts from the Fed. But now the Feds start cutting and the group keeps rolling over. So what's going on here.Didn't we want rate cuts to jolt the industry out of the doldrums. Well, let's look at what happened when some of the key home builders recently reported. First, we got Lenar, the Miami based developer that's become one of the largest home builders in the country.Lenar kicked these off last Thursday when they reported ...

CNBC's Jim Cramer on Thursday reviewed recent earnings reports from major homebuilders Lennar and KB Home, expressing concern that the Federal Reserve's rate cuts won't help bring down mortgage rates."I think it's better to take a wait-and-see approach to the homebuilders, just in case we see a repeat of last fall, where the Fed started cutting and it didn't make a difference," he said. "If anything, it drove the bond market in the wrong direction and mortgage rates higher."The Fed lowered its benchmark bor ...

Housing affordability is at record lows. To get back to 2019 affordability, we would need:– A 38% drop in home prices– A 60% increase in household income– A 415-bps drop in mortgage ratesHow did the housing market get this bad?[Presented by @JoinHorizon_] https://t.co/aRgHqJury7 ...

Core Insights - The U.S. housing market has reached a record value of $55.1 trillion in June 2025, marking a $20 trillion (57%) increase since 2020 [1] - The growth rate has slowed to 1.6% over the past year compared to the rapid increases seen from 2020 to 2022 [2] Regional Performance - The Northeast, particularly states like New York, New Jersey, Pennsylvania, and Illinois, has experienced significant growth, with New York alone contributing $216 billion to the total U.S. growth [3] - In contrast, states like Florida, Texas, and California have seen a cooling in their housing markets, attributed to rising home insurance costs and property taxes, exacerbated by climate change-related natural disasters [4] Mortgage Rates and Housing Inventory - Mortgage rates have increased from a low of 2.65% in January 2021 to a peak of 7.79% in October 2023, with the average rate for a 30-year mortgage at 6.26% as of September 18, 2024 [5] - In New York, housing demand has outstripped supply, with inventory at half of pre-pandemic levels, while new construction in the Sun Belt states has created "pockets of affordability" for first-time buyers [6] Home Prices - As of July 31, the median sale price for a home in the U.S. was $373,333, and the average home value was $363,505 as of August 31 [7]

Welcome back to Squawk on the Street. Real estate one of the worst performing sectors on the year behind just health care and consumer staples. All underperformers.Home wielders across the board remain in correction territory which means they're 10% or more from their 52- week highs. Lenar is the worst of the group. And then watch KB Home shares today reducing fullear sales guidance due to lower prices.The company COO saying on the call they're not seeing the uptick in demand they'd expect given the recent ...

Mortgage rates in the US rose, shifting direction after a steady string of declines https://t.co/xUZRcLY1ty ...

Sales of existing homes dipped in August, after high prices kept sales in check despite easing mortgage rates https://t.co/pd7lhO7y0I ...

Um, you guys, you mentioned housing. There's an interesting wrinkle in existing today. Let's get to Diana Olick.Hey, Diana. >> Hey, Carl. I guess the wrinkle is that the uh AP has broken the embargo for 10:00.So, we'll just go ahead with the numbers right now. Existing home sales were essentially flat in August at a seasonally adjusted annualized rate of 4 million units. That's down 0.2% from July, up 1.8% from August of last year.Now, the street was looking for a slightly bigger drop of 1 and a.5%. Sales w ...

Core Insights - Existing home sales in August were flat at a seasonally adjusted annualized rate of 4 million units, down 0.2% from July but up 1.8% year-over-year [1] - The market was expecting a larger decline of 1.5%, with sales strongest in the Midwest and weakest in the Northeast [2] - Supply of homes for sale decreased by 1.3% from July, although it remains up 11.7% year-over-year, indicating a shift in market dynamics [2][3] Sales and Pricing Trends - The median home price in August was $422,600, reflecting a 2% increase year-over-year, marking the 26th consecutive month of annual price gains [4] - Homes are staying on the market longer, averaging 31 days compared to 26 days last year, indicating a potential cooling in buyer demand [4] - First-time buyers represent only 28% of the market, while all-cash transactions account for 28% of sales, up from 26% a year ago [4] Mortgage Rates and Economic Indicators - Current mortgage rates are around 6.37%, with minimal movement since the Federal Reserve's rate cut, which brought rates to a three-year low [5] - The market is awaiting further economic indicators to influence mortgage rates, following a recent surprise in new home sales data [6]

Core Insights - Existing-home sales in August decreased by 0.2% from July, remaining stable overall [1][5] - The Midwest region showed month-over-month sales increases, while the Northeast and South experienced declines [2] - Year-over-year sales rose in the Midwest and South, but fell in the Northeast and West [2] Sales and Inventory Data - Total existing-home sales for August were at a seasonally adjusted annual rate of 4.0 million, reflecting a 0.2% decrease month-over-month and a 1.8% increase year-over-year [5] - Total housing inventory in August was 1.53 million units, down 1.3% from July but up 11.7% from August 2024 [5] - The median existing-home price in August was $422,600, marking a 2.0% increase from the previous year [3][5] Regional Performance - The Midwest was the best-performing region, with median home prices 22% below the national median [2] - The Northeast and South saw declines in sales, while the Midwest and West experienced increases [2] Mortgage Rates - The average 30-year fixed-rate mortgage in August was 6.59%, down from 6.72% in July and 6.50% a year ago [8] Market Dynamics - Elevated mortgage rates and limited inventory have contributed to sluggish home sales in recent years [2] - Declining mortgage rates and increasing inventory are expected to boost sales in the coming months [2] - Record-high housing wealth and stock market performance may encourage current homeowners to trade up, benefiting the upper end of the market [2]