Let's go inside out on Home Depot. Joining us now is Michelle Connell, president and owner of Porsche Capital Management. Welcome to the show, Michelle.>> Thank you for having me. >> All right, so let's get into this discussion about Home Depot. Stairs are down about 10% this year.Earnings continue to Wayne here. Uh, I know they're a pretty shareholder friendly type company with buybacks and raising that dividend, Michelle, but the way that I look at it is until we get interest rates down, you know, these s ...

The emirate logged three times as many $10 million-plus home sales as London in the January–September period. https://t.co/MOMmyN8ErV ...

Core Insights - The housing market is facing challenges due to high home prices, elevated mortgage rates, and reduced supply, impacting potential homebuyers [1] - Sales of previously owned homes increased by 0.5% in November compared to October but were down 1% year-over-year, with an annualized sales rate of 4.13 million units [1][2] Supply and Inventory - The supply of homes for sale decreased in November, with 1.43 million homes available, representing a 5.9% decline from October but a 7.5% increase year-over-year [3] - At the current sales pace, the housing market has a 4.2-month supply of homes, indicating a tighter market compared to the balanced six-month supply [3] - Inventory growth is stalling, with distressed property sales at historic lows and homeowners reluctant to list their properties during winter months [4]

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].

So, let's get right into this report, Joel. So, mortgage rates, you say here, expected to stay above 6% in 2026. Your forecast, Joel, if I have this right, is 6.3% average mortgage rates next year.Let's start there, Joel. Why Why do they stay above 6%, Joel. And what does that mean for affordability next year.really we see 2026 as a year of steadying across a lot of dimensions of the housing market. Mortgage rates are one piece of that. Uh we expect uh the the Federal Reserve's cuts in December to already b ...

Existing Home Sales Spike—Especially In This Region—As Mortgage Rates Easehttps://t.co/n0moPFM6rq https://t.co/5ZzyZlbHzD ...

Core Insights - Sales of previously owned homes increased in October for the second consecutive month, indicating a potential recovery in the housing market [1] - Despite the increase, sales remain below the historical norm, suggesting ongoing challenges in the real estate sector [1] Summary by Category Sales Performance - The sales of previously owned homes rose in October, marking the second month of growth [1] - The current sales figures are still lower than the typical levels expected in the market [1]

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]

Core Insights - New home sales for July reached 652,000, which is stronger than expected but represents an 8.2% decline year-on-year [1] - The rental market is benefiting from high home prices, leading more Americans to seek rental options [1][2] New Home Sales and Market Dynamics - Home builder sentiment is positive, with new construction performing well over the past 3 to 5 years [2] - The renewal rate for rental properties is approximately 77%, with customers staying for about 40 months [3] - There is a demand for new rental products, with around 1,500 homes delivered through builder networks [3] Cost and Pricing Issues - High costs, including property taxes and insurance, have made renting about $1,000 per month cheaper than owning a home [4] - There is a mismatch between seller expectations and buyer willingness to lower prices, leading to fewer transactions [5][6] Inventory and Liquidity - The number of homes on the market has increased from about 1 million three years ago to approximately 2 million today, indicating a liquidity issue rather than a supply issue [6][7] - Current sales are at a seasonally adjusted rate of just over 4 million units, down from the typical range of 5 to 6 million units over the past 5 to 10 years [7] Buyer Behavior and Mortgage Rates - Only 16% to 19% of customers are moving out to purchase homes, down from the typical 20% to 25% [8] - A reduction in mortgage rates by 100 basis points could stimulate more aggressive buying behavior in the market [10]

Mortgage Rate Trends - Homebuilders are offering mortgage rate buy downs, bringing rates down to as low as 1%-3%, levels not seen since the COVID era [1] - Buyers are concerned about the economy and their jobs, requiring more aggressive rate reductions to attract their attention [2] - Fixed rates below 4% for 30 years are emerging, with one instance at 399% [2] - Some builders are offering teaser rates, such as 099% for the first year, 199% for the second year, and 299% for the third year [3] Housing Market Dynamics - The price of a typical new home is now cheaper than an existing home, reversing the typical 16% premium [4] - Existing homes have become more attractive due to falling mortgage rates (close to 6%) and increased listings, making it harder to sell new homes [6] - New home sales require incentives like mortgage rate buy downs to attract buyers [5]