Weekly Housing Headlines

Pending home sales increased for a fourth month in November to the highest level since early 2023; new home sales also jumped 5.9% in November; the Freddie Mac rate for a 30-year mortgage increased again this week, rising 6 basis points to 6.91%.; mortgage applications decreased 21.9% from two weeks earlier; and the number of homes actively for sale continues to be higher compared to last year, growing by 22.0%.

Pending Home Sales Advance To Highest Level Since Early 2023
Financial Advisor - 12/30/2024
Pending sales of U.S. homes increased for a fourth month in November to the highest level since early 2023 as homebuyers gave up hopes for lower borrowing costs.

New Home Sales Jumped 5.9 Percent in November as Rates Decreased
MortgageOrb - 12/23/2024
New home sales jumped 5.9% in November compared with December to reach an annual rate of 664,000, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

Mortgage rates inch closer to 7% to close out 2024
CNN Business - 1/2/2024
The standard, 30-year fixed-rate mortgage averaged just shy of 7% in the final week of 2024 ending on January 2, according to data from mortgage financing giant Freddie Mac.

December 2024 Monthly Housing Market Trends Report
Realtor.com - 1/2/2024
The number of homes actively for sale continues to be higher compared to last year, growing by 22.0%, a fourteenth straight month of growth, but due to seasonality have plummeted to their lowest level since June.

Mortgage Applications Decreased Over a Two-Week Period in Latest MBA Weekly Survey
Mortgage Bankers Association - 1/2/2024
Mortgage applications decreased 21.9 percent from two weeks earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending December 27, 2024.

Home-Price Growth Slows Slightly As Buyers Gain More Leverage
Financial Advisor - 12/31/2024
A national gauge of prices rose 3.6% from a year earlier, according to data from S&P CoreLogic Case-Shiller. That was smaller than the 3.9% annual increase in September.

Redfin Reports Housing Supply Just Hit a Four-Year High, Partly Because So Many Homes Are Sitting on the Market Unsold
Redfin - 12/30/2024
Active listings — the total number of homes for sale — climbed to the highest level since 2020 in November on a seasonally adjusted basis, rising 0.5% month over month and 12.1% year over year.

Redfin Reports Housing Supply Ends 2024 On the Rise, Up 12% Year Over Year
Redfin - 12/27/2024
Active listings climbed 12% year over year during the four weeks ending December 22, though that was the smallest increase since March, according to a new report from Redfin.

First American: Home Price Appreciation Flattened in November
MortgageOrb - 12/27/2024
U.S. home prices decreased 0.1% in November compared with October, signaling that home price growth may have fully flattened since the first time since the pandemic, according to First American’s home price index.

At What Point Will Refinancing Become Worth It Again?
CoreLogic - 12/27/2024
Given that it is unlikely that mortgage rates will return to the historically low levels seen in 2020-2021, a refinancing boom seems improbable.