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HousingWire Daily
Logan Mohtashami on existing home sales and housing demand
Nov 25, 2024
Logan Mohtashami, Lead Analyst at HousingWire, shares his expertise in existing home sales and housing market dynamics. He discusses how declining mortgage rates are influencing sales and the potential for market growth by 2025. The conversation dives into the role of economic indicators and Federal Reserve policies on mortgage rates, and the upcoming housing economic summit in Dallas. Mohtashami also analyzes the implications of rumored economic appointments on housing stability and construction. A must-listen for market enthusiasts!
25:40
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Quick takeaways
- Improving existing home sales show a positive correlation with mortgage rates approaching 6%, indicating potential growth in housing demand.
- Economic indicators like the 10-year yield are crucial for forecasting market trends, suggesting increased home sales could materialize by 2025.
Deep dives
Current Trends in Existing Home Sales
Existing home sales are showing signs of improvement as mortgage rates trend towards 6%, which has positively affected pricing dynamics. Despite a low benchmark for home sales, the improvement in demand is notable, leading to a year-over-year growth that contrasts with previous downturns. Analysts emphasize that understanding the shifts in purchase applications can provide insight into future market movements and supply-demand equilibrium. As low sales levels persist, even incremental changes in mortgage rates can significantly influence market activity.
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