MarketNsight, a leading real estate data and analysis provider, presented its state-of-the-market report and 2024 predictions during Market Watch calling for zoning reform and new housing solutions. "Nationwide job growth of nearly 3 million jobs in 2023 underscores the urgent need for increased housing supply to accommodate new workforce entrants, whether they rent or buy," said John Hunt, Principal and Chief[...]
MarketNsight, a leading real estate data and analysis provider, reports after 13 consecutive weeks with rates over 7%, the housing market has broken the lows in pending sales set in November 2022. History may be repeating itself, however, and the market may be near the bottom. “Rates peaked two weeks ago, and pending sales have continued to fall through November[...]
MarketNsight’s MarketWatch MarketNsight presents the current state of the Atlanta housing market and predictions for 2024 WHAT: From interest rates nearing 8% to resale inventory at a record low, there is an opening for new construction to fill the massive inventory gap. Find out more at MarketNsight’s MarketWatch on Thursday, December 14, 2023. John Hunt with MarketNsight and Dr. Rajeev Dhawan with the[...]
MarketNsight, a leading real estate data and analysis provider, reports that year-to-year pending sales turned positive the last week of October for the first time since the second week of June 2022. “Don’t get too excited – the last week of October 2023 is being compared to a very bad October 2022,” said John Hunt, Principal and Chief Analyst at MarketNsight.[...]
Chief Economist of the National Association of Realtors (NAR), Lawrence Yun, anticipates a 15% surge in existing home sales next year and projects mortgage rates to stabilize between 6-7% by Spring 2024. The report also highlights an unprecedented 22% rise in buyer income, marking the largest yearly increase, with down payments reaching their highest levels in two decades. On Nov. 15,[...]
MarketNsight, a leading real estate data and analysis provider, reports that even after six weeks in a row with 30-year fixed mortgage rates higher than 7%, pending sales are performing better than in the fall of 2022. “Home buyers have become accustomed to higher rates, and the market continues to be driven by the lack of housing supply,” said John Hunt,[...]
Dr. Robert Dietz, Chief Economist of the National Association of Home Builders (NAHB), recently addressed the public affairs and communications committee at the fall leadership meetings in Palm Springs, California, sharing information on the US Housing Market. As an active member of NAHB, I am fortunate to chair public affairs for NAHB this year and have the opportunity to hear[...]
MarketNsight identifies 7% as the new sensitivity threshold for mortgages. The leading real estate data and analysis provider reports that rates in the second week of August 2023 rose to 7.09% - surpassing the 20-year highs set last fall. On the way to 7.09%, pending sales rapidly declined, completely reversing the positive trend witnessed in the third week of July[...]
Bright Spot: New home pending sales are up 48% year over year since February MarketNsight, a leading real estate data and analysis provider, reports that pending sales in July were down 18% year to year – showing no significant change from the 19% decrease revealed in its January 2023 update. Unless interest rates drop significantly in the next few months, pending[...]
A recent Fortune article reports that Warren Buffet just made a big bet on the U.S. housing market, and from Blue River Development's perspective, it is easy to see why. The recent investment by Warren Buffett's Berkshire Hathaway in three leading U.S. homebuilders – D.R. Horton, Lennar and NVR – signals strong confidence in the U.S. housing market. The investments, worth[...]