"We were showing year-over-year growth at the start of the year, and then the snowstorm slowed things down. Now that all the snow data is gone, we have three straight weeks of year-over-year growth, which should be the case given that mortgage rates have been under 6.25% all year long."
"Purchase application data is a forward-looking data line: the growth here leads sales roughly 30-90 days out, and last week we saw 10% year-over-year growth with 6.1% week-to-week growth. For this data line, what I really value is at least 12-14 weeks of positive weekly growth."
"For 2026, every week has shown positive year-over-year growth. The last three weeks, combined, have averaged 10% year-over-year growth, which if this continues, should give us a couple hundred thousand more home sales this year versus last year."
Housing data demonstrated broad strength with consistent year-over-year growth in pending home sales and purchase applications. Pending sales reached 66,127 compared to 63,508 the previous year, while purchase applications grew 10% year-over-year with 6.1% week-to-week growth. Inventory declined slightly to 686,879 units. Mortgage rates remained relatively stable near 6.14% despite geopolitical volatility from the Iran conflict. Purchase application data, a forward-looking indicator, suggests potential for several hundred thousand additional home sales this year compared to last year if current growth trends continue. The housing sector demonstrated resilience and stability amid broader economic uncertainty.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]