‘I'm very optimistic’: Rocket Companies CEO says the housing market will return to ‘normal’ in 2023

As mortgage rates fall, housing-market players say they felt a sense of relief wash over them. One CEO says he’s upbeat about the rest of the year.

“I’m very optimistic about housing this year,” Jay Farner, CEO of Rocket Companies RKT , told MarketWatch in a recent episode of Barron’s Live. “It’s going to be a strong market.” But Farner said his upbeat outlook is based on the market establishing more balance in 2023. “It feels like a more normal market that we’re entering into in 2023,” he said.“We expect more homebuyers and sellers to gradually return to the market by springtime,” Chen Zhao, economics research lead at Redfin, said in a that report. “But mixed economic news and mixed reactions from the market mean the recovery will be uneven.

“We won’t be in the 5 million-plus units sold range …things have changed,” Farner said. “We’re certainly not in the heart of the pandemic, like we were a few years ago that was driving the desire for homeownership and second homes, but it’s still a strong housing market.” People have questions about what job security looks like, and whether there be a fall in wages in some industries, Farner said. “And so when you have that uncertainty, sometimes that can cause buyers to remain on the sidelines,” he added.

Why are mortgage rates falling, and can that in and of itself restore normalcy to the housing market?

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

AT&T CEO: Societal trends for networking companies paint a rosy future pictureAT&T CEO John Stankey joins 'Squawk Box' to discuss the company's future ambitions, how much money the company will spend over the next five years, and more. SquawkCNBC Someone needs to ASK THAT P0S what the hell he's doing by BANNING NEWSMAX . Of course, you COMMIES from COMMIE-CAST wouldn't have the GUTS to ask...
Fuente: CNBC - 🏆 12. / 72 Leer más »

Meta shares rocket 20% on solid earnings: Analyst sees 'enticing' valuationMeta Platforms saw a slew of analyst upgrades as shares rose nearly 20% off the backs of a better-than-anticipated earnings report and optimistic commentary. HAHAHAHA, yeah, that never happened. Some feel with Twitter out of the barn META had to become the go to place for Democrat Money. solid earnings or $40B in stock buybacks? yall stank
Fuente: CNBC - 🏆 12. / 72 Leer más »