HousingWire Daily Logan Mohtashami on what home sales look like during a recession
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Apr 22, 2025 AI Snips
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Wall Street's Recession Shift
- Wall Street has shifted from 0% to 90% recession odds due to layoffs, tourism drops, tariff uncertainty, and collapsing confidence.
- This voluntary trade reset recession impacts various sectors, freezing business and consumer activity amid tariff unpredictability.
Housing Demand Defies High Rates
- Purchase applications are positively trending year over year despite elevated mortgage rates thanks to falling 10-year yields.
- This indicates a decoupling from tariff fears and shows demand stabilizing in housing even amid economic drama.
Home Sales Resilient in Recessions
- Historically, home sales dip going into recessions but rebound sharply as rates fall and jobs are created.
- Even in severe downturns like 1980, 1991, and 2008 recessions, home sales increased once mortgage rates declined.