With the impressive revisions in the recent new home sales data, the demand held even with higher lumber costs. Remember, these monthly numbers can be wild so look at the revisions always
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No credit speculation, no exotic loan debt structure, no booming mortgage demand, it's not a bubble folks, it's just Americans wanting somewhere to live housingwire.com/articles/this-…
Pricing out a generation of home buyers thesis has been used since 1996 a lot, and home sales rarely go below 4,000,000.
However, even just over 4%, higher rates will cool down the markets just like they did in the past. The same thing happened in 2013/2014 & 2018/2019. Healthy!
The days of saying the Fed needs to aggressively hike rates to create a buying oppurnutiy for stocks from investors who are mostly long is coming to an end. President Trump showed us all the true colors of a lot of conservatives 😉😎 Feel the Market, Baby!
Conservatives saying, look, there is no inflation was hilarious. Why are you hiking? Because Trump was President was classic Fintwit. Just be mindful of this.
#RealEstateNews#IgnoreAllYearOverYearData
Purchase Application Data up 34% year over year 😏
The Last 4 weeks
+34%
+57%
+57%
+51%
In reality, not much growth is happening, and don't forget this data will mostly be negative year over year in the 2nd half of 2021.
The makeup demand in the 2nd half of 2020 will create negative year-over-year data. Existing home sales finally moderating from that parabolic move last year. Still looking for some prints under 5,840,000, but in general, we should be up from last year's 5,640,000 level.