I guess it’s encouraging to know that the home Builders are showing more confidence with single family homes and the reading is well off the lows. Sales index has also been rising but that might be due to lower inventory.
What does it all really mean? A trend, bounce? I don’t have the slightest idea anyone care to comment, Big Balls, Brad, all comments appreciated.
BBalls is the expert here. My two cents- stay away. There’s absolutely nothing besides “low inventory“ which would indicate a rise in housing prices. And am I wrong to say that low inventory is actually not good for a healthy housing market (bb?). Just like everything else in life, balance is best for everyone in the long run.
Fed announces in 30 min or so. They’re going to raise 1/4 percent. Mortgage rates will be at 7% at minimum (already is unless you have flawless credit). Prices still high due to only ONE factor (low inv as mentioned above). And here’s the killer imo- banks are tightening their belts and trying to obtain/keep more cash (banking crisis). It’s just not looking good imo. How much longer can builders hand out incentives for new buyers?
BB- am I wrong in saying there’s a shortage of inventory because a large number of owners have 3% loans, a high Percentage of them from a no brainer refinance. Why trade for a higher mortgage?
Something has to give here. Talk about a stagnant market. So prices slightly increased in many areas. Nothing significant, and NO way this continues in 23. Job layoffs are coming. No one wants to blink, so someone is going to get force fed their medicine.
im all over the map here because I don’t have the expertise. Let’s see what bb says.