Despite an increase in mortgage rates, housing demand shows resilience this holiday season, with pending contracts indicating double-digit growth year-over-year.
Our pending contract data shows a significant year-over-year improvement compared to 2022 and 2023, despite the typical seasonal decline in housing activity.
While we see a week-to-week decline in purchase applications by 4%, year-over-year growth of 4% indicates a solid housing demand trend.
The current housing indicators reflect a legitimate growth trend and reveal a firmer bottom, contrasting with historically low levels observed earlier.
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