Home prices have remained firm over the last two months, even with higher mortgage rates and inventory data. The aim is to determine what level of mortgage rates we need to change the demand curve, which can also change the pricing curve in housing data. Even with mortgage rates trending between 6%-8% for two years, we aren't crashing in sales lower from these levels, indicating a firm base for bottom-end sales.
The principles I outlined in my previous analysis still hold true, particularly how we track forward-looking data to anticipate shifts in the housing market. This podcast video serves as a tutorial on how to effectively track this data, emphasizing why the anticipated 2023 housing price crash was a misjudgment due to a lack of working models.
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