Market Performance - The Nasdaq and S&P 500 opened positively, with the S&P 500 reaching a new all-time closing high of 6978, up by +0.41% [1] - The Dow Jones Industrial Average fell by -408.99 points, or -0.83%, primarily due to a -19% loss in UnitedHealth (UNH) following mixed Q4 results [1] Economic Reports - The Case-Shiller Home Prices for November showed a slight improvement, with a +1.4% increase, and house prices rose +0.6% month over month and +1.9% year over year, although these figures lag behind the +2.7% inflation rate [2] - Consumer Confidence for January dropped significantly to 84.5, down nearly 10 points from a revised December figure of 94.2, indicating levels typically associated with an impending recession [4][5] Company Earnings - Texas Instruments (TXN) reported Q4 earnings of $1.27 per share, missing estimates by 3 cents, with revenues of $4.42 billion also falling short of expectations [6] - F5 (FFIV) exceeded earnings expectations with $4.45 per share on revenues of $822 million, leading to a +13% increase in after-hours trading [7] - Seagate Technologies (STX) reported fiscal Q2 earnings of $3.19 per share on revenues of $2.83 billion, surpassing estimates, although shares fell -1.3% after a significant year-to-date increase of nearly +35% [9]

Core Insights - Wages are increasing at a rate that outpaces price growth, potentially providing relief for buyers in a challenging housing market [1] Group 1 - The rise in wages could lead to improved affordability for homebuyers, as they may have more disposable income to allocate towards housing costs [1] - This trend of increasing wages relative to prices may signal a shift in the housing market dynamics, offering a more favorable environment for potential buyers [1] - The long-standing hostility of the housing market may begin to ease as wage growth continues to outstrip inflation [1]

Home prices in Portugal posted another record jump in the third quarter, with the deepening housing squeeze fast becoming one of the country’s biggest political flashpoints https://t.co/kULFJud44H ...

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 million uni ...

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 ...