flexiblefullpage - default
Currently Reading

Can the Housing Market's Current Trajectory Be Stunted?

Advertisement
billboard - default

Can the Housing Market's Current Trajectory Be Stunted?


August 20, 2020
For Sale sign in front of home
By seanlockephotography

The housing market’s momentum may be threatened by recent housing policy changes from the White House, the future of stimulus and forbearance provisions, and the unknowns that come with the pandemic. The Radian Home Price Index increased by 6.8% on an annualized rate in July compared to June, according to National Mortgage News. Remax Holdings had its best month of home sales in the company’s history and homes were flying off the shelves in an average of 114 days. And due to the uncharacteristic events in the housing market, there may be even more activity in coming months, says Remax Holdings’ CEO, though upcoming factors may have an unpredicted affect.

The median home price nationwide was $258,206 in July, according to data from Radian's Red Bell Real Estate subsidiary.

On the supply side, the number of listings for sale was 15% below the average monthly count over the last five years, and nearly 27% below the peak monthly listing count over the same period, Radian reported. Properties were on the market for an average of 114 days, the shortest stay in over a decade.

Even though rates remained in the record-low range, the purchase share of transactions has been growing in recent months. Ellie Mae reported that purchases made up 46% of the mortgage loans closed its loan origination system processed in July, up from a low of 35% in April and May.

Read More

Advertisement
leaderboard2 - default

Related Stories

Economics

Shelter Costs Drive Inflation Higher Than Expected in January

January Consumer Price Index data show inflation increased more than anticipated as shelter costs continue to rise despite Federal Reserve policy tightening

Economics

Weighing the Effects of the Fed's and Treasury's Latest Announcements

The upshot of the Jan. 31 announcements is that while mortgage rates will stay higher for longer, they're likely to hold steady

Economics

NAHB CEO Tobin Says 'Housing Renaissance' on the Horizon

Responding to positive housing-related data such as falling mortgage rates and increased homebuyer activity, NAHB's CEO Jim Tobin is optimistic 

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category

Delaware-based Schell Brothers, our 2023 Builder of the Year, brings a refreshing approach to delivering homes and measuring success with an overriding mission of happiness

NAHB Chairman's Message: In a challenging business environment for home builders, and with higher housing costs for families, the National Association of Home Builders is working to help home builders better meet the nation's housing needs

Sure there are challenges, but overall, Pro Builder's annual Housing Forecast Survey finds home builders are optimistic about the coming year

Advertisement
native2 - default
Advertisement
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.