Chief Economist @BrightMLS. Founder @LSAPlanning. Demographics, housing market and economic data and analysis.
Maryland
Joined August 2013
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We know residential mobility is down. People are moving less. But does it matter that it is short-distance moves (i.e. within-county moves) that are driving the decline? Are people still moving longer distances for economic opportunies at the same rates as they were a decade ago?
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Mortgage rates fell again this week, but where are they headed? Forecasting mortgage rates in the best of times is tricky. Now, with economic factors tugging rates in different directions, it is even harder. What should buyers and sellers know? tinyurl.com/3fyy4yt4
Is it just me or has the Case Shiller data not updated on S&P's website? I see the press release but still seeing Dec 2022 data. Trying to confirm specific numbers.
spglobal.com/spdji/en/index-…
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Is the market slow because there aren't enough buyers? Or not enough sellers?
Check out the most recent data on the weekly housing market in the Mid-Atlantic.
brightmls.com/article/12040
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2 big takeaways from today's EHS report:
1. Sales surged in February, up 14.5% jump from a month ago. Probably a blip and not a sustainable trends.
2. Median price fell, the first year-over-year decline in the national median home price in more 20 yrs.
bitly.ws/BTHQ
While there has been a lot of news about the #housingmarket cooling off, #Mid-Atlantic real estate agents reveal a different story. The regional housing market remains very competitive.
Check out the key findings from our latest survey
brightmls.com/article/market…
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Housing accounted for 70% of the monthly increase in the #CPI in February. Grateful to have been included in Marketplace's discussion of how #housing costs are impacting the #inflation discussion. @Marketplace @AliWolfEcon @IAPopov
marketplace.org/2023/03/14/h…
There have been many twists and turns in this #economy and #housingmarket. The latest? Bank failures that are creating opportunities for would-be homebuyers in the form of lower #mortgagerates.
money.com/svb-failure-affect…
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Did this mornings #newhomesales report surprise anyone else? census.gov/construction/nrs/…
Weekly #housingmarket update for the Mid-Atlantic. Key takeaway for me? More sellers are cutting prices in respond to changing market conditions.
Full report: brightmls.com/article/12040
While the year-over-year slowdown in buyer activity is significant, it seems hyperbole to be talking about a housing “recession.” We're coming off a supercharged 2021 - shouldn't this be considered a "re-setting"? usnews.com/news/economy/arti…
Surprising bump in closed sales this past week, up 17.9% compared to the week prior. But overall #homesales in the #midatlantic are still down compared to 2020 and 2021, and are also lower than 2019 levels.
Check out the full weekly report: brightmls.com/article/12040
Home sales down but those that are selling are still going under contract really quickly. That tells me that it is still decidely a seller's market in most places.
cnbc.com/2022/08/18/home-sal…
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Latest weekly #housingmarket stats:
Sellers are making price adjustments during this transitioning market.
Buyer traffic is slow, even for an August market.
Check out the full weekly report: brightmls.com/article/12040
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The pace of sales activity continues to fall, with the lowest July closed sales since 2017. Prices rising more slowly, inventory is up across the Mid-Atlantic region (though still low compared to other places in the country).
brightmls.com/article/market…
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Do you like roller coasters? Mortgage rates continue their bumpy ride amidst growing economic uncertainty by taking a dramatic dip this week.
brightmls.com/article/mortga…
#mortgagerates
Weekly #housingmarketupdate
Sellers are responding to the shifting market by cutting prices.
Homes are remaining on the market longer.
Inventory is expanding as a result of slower sales activity.
Check out the full report for the week ending July 31.
brightmls.com/article/12040
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The party is over.
After 2+ years of bidding wars, buying sight unseen, and prices rising three times faster than normal, housing market conditions are slowing down.
Check out my 2022/2023 housing market forecast.
brightmls.com/article/bright…
Overall home prices aren't set to plummet but there are some places at risk of a price decline. Is your local market one of them? brightmls.com/article/most-a…
