HousingWire Daily
Logan Mohtashami: Why didn’t home prices correct with lower home sales?
Jan 27, 2025
Logan Mohtashami, a lead analyst known for his expert commentary on the housing market, dives into the dynamics of existing home sales and prices. He discusses the surprising lack of price corrections despite declining sales, highlighting historical trends and inventory levels. The conversation touches on the baby boomer generation's influence on housing supply, as well as the unexpected resilience of home prices amidst rising mortgage rates. Mohtashami also shares insights into the future of the housing market and demographic shifts affecting homebuyers.
29:43
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Quick takeaways
- Despite low existing home sales and high interest rates, home prices remained stable due to persistent low inventory levels.
- The anticipated ‘Silver Tsunami’ of baby boomer listings failed to materialize, contributing to ongoing supply pressures in the housing market.
Deep dives
Current Trends in Home Sales and Prices
Home sales have remained surprisingly resilient amidst economic fluctuations, with existing home sales consistently hovering around the 4 million mark. Despite predictions of a home price crash following record low sales and a high interest rate environment, actual price declines have not materialized. In fact, forward-looking data indicates an improvement in the housing market, particularly since October 2023, which was characterized by rising purchase application data and pending contracts. This scenario suggests a shift in supply and demand dynamics that may support home prices moving into 2024.
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