HousingWire Daily Logan Mohtashami on existing home sales and housing demand
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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!
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Existing Home Sales Growth
- Existing home sales data, initially spotted by HousingWire's tracker, shows growth, even during a seasonally slow period.
- This growth, triggered by mortgage rates dipping towards 6%, shifted the pricing curve in October 2024.
Demand Data and Market Trends
- Purchase applications, a forward-looking indicator, offer insights into inventory and home prices.
- Analyzing these factors together provides a more comprehensive view of the housing market.
Fall Housing Market Trends
- Despite falling rates in previous years boosting fall demand, this pattern hasn't been repeated in the current fall season.
- However, pending contract data remains better than 2022-2023, suggesting potential growth even with rates between 6-7%.