Fannie Mae upgraded its single-family housing starts forecast for 2023 by 72,000 units and its 2023 forecast for mortgage originations from $1.59 trillion to $1.62 trillion
Harvard's Joint Center for Housing Studies' Leading Indicator of Remodeling Activity shows annual spending on home improvements and repairs is expected to decrease through 2023 and into 2024
Census data for permits, starts, and completions shows a rate of 935,000 single‐family housing starts in June, which is 7% below the revised May figure of 1,005,000
The National Association of Home Builders/Wells Fargo Housing Market Index shows builder sentiment in the market for single-family homes rose 1 point in July
Data analysis reveals that while national trends reflect fundamental drivers of homeowners, if you look at local markets, they often tell a different story
Mortgage rates are high right now, but just one-tenth of existing mortgages have an interest rate above 6%, and that imbalance has significant ramifications for the housing market
Elevated mortgage rates may be slowing home sales and cooling the for-sale market, but they're also limiting housing inventory, which is sending prices to new highs
