Housing Market Struggles Persist Despite Inventory Growth and Lower Mortgage Rates

The housing market’s struggles continued last month as sales dipped in August with higher mortgage rates and expensive asking prices holding down the level of completed sales.

Home sales were disappointing again in August, but the recent development of lower mortgage rates coupled with increasing inventory is a powerful combination that will provide the environment for sales to move higher in future months,” said Lawrence Yun, NAR's chief economist. Overall, there is a 4.2-month supply at the current pace of sales. The housing market is considered balanced if there is a five- to six-month supply.

“Even with these rate reductions, we expect some continued pressure on the housing market. The majority of homeowners are likely to cling to their low-rate mortgages, keeping resale inventory tight and driving more opportunities for new home sales,” said Nirvan Ghosh, a portfolio manager at Palisades Group, a Texas-based real estate investment group. “We anticipate the rate reductions will create a wave in pent-up demand from folks on the sidelines that could further push home prices higher.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Housing market's struggles continue despite lower interest rates for a mortgageThe housing market’s struggles continued last month as sales dipped in August with higher mortgage rates and expensive asking prices limiting sales.
مصدر: 13WHAM - 🏆 256. / 63 اقرأ أكثر »

Fixing The Housing Market: Beyond Market-Based SolutionsThis article argues that unaffordable housing requires more than just market-based solutions. It highlights the need to address landlord power, rethink public governance, and increase government involvement through price regulation, robust planning, and direct public provision.
مصدر: HarvardBiz - 🏆 310. / 63 اقرأ أكثر »

Housing market picks up, with sales near two-year highSouthern California home prices held steady at all-time highs, with sales rising from last year’s lows, CoreLogic’s figures show.
مصدر: ladailynews - 🏆 332. / 59 اقرأ أكثر »