top of page
Search
  • snitzoid

Home price dive in one chart. Ouch.



Just over 2 weeks ago, we charted about how the combination of higher borrowing costs and still-elevated home prices had created one of the least affordable housing markets in modern history for would-be buyers.


However, data out this week from the NAR revealed that some of the air is coming out of the market, as existing home prices fell 0.2% in Feb 2023 (vs. Feb 2022), breaking an 11-year-streak of continuous annual increases.


Interestingly, the number of homes sold jumped some 14.5% in February. That suggests there is demand from those waiting on the sidelines, standing by for any favorable fluctuations in the mortgage market where interest rates still hover around 7%. As Fortune put it, the real winners of the pandemic may be the home-buyers who managed to lock in a mortgage rate around 2%.

6 views0 comments

Recent Posts

See All

Is my doctor a morally casual dude?

I got this email from my physician's office yesterday. Not kidding. Apparently, they aren't promoting exercise and a good diet anymore. No money in that.

Is going to church good for your mental health

Synagogue is fine also so long as the Rabbi stays away from "current events". The Mental-Health Benefits Linked to Going to Church Places of worship can provide community and belonging, which are big

Comments


Post: Blog2_Post
bottom of page