HousingWire Daily
Mike Simonsen on housing data to watch amid market volatility
Apr 10, 2025
Mike Simonsen, Founder of Altos, shares his expertise on navigating housing market trends during volatile times. He discusses the surge in pending home sales and how inventory levels are shifting across regions. Mike emphasizes the role of economic factors, like tariffs, in influencing buyer demand and interest rates. He highlights the resilient financial state of homeowners, suggesting it could mitigate recession impacts. Finally, he explores significant data trends in mortgage rates and their potential to reshape future market dynamics.
25:23
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Quick takeaways
- The gradual rise in weekly pending home sales signifies a resurgence of buyers as mortgage rates ease, despite overarching economic fears.
- Regional disparities in housing inventory highlight a stark contrast in market conditions, particularly between Southern states and the Northeast.
Deep dives
Rising Pending Home Sales and Inventory Trends
The recent trends in the housing market show an increase in weekly pending home sales, which have been gradually rising and surpassing last year's figures. This shift comes after a period where sales were lower due to elevated mortgage rates, but as rates began to ease, previously sidelined buyers have re-emerged. Concurrently, inventory levels have significantly climbed, with nearly 35% more unsold homes compared to the same time last year. More sellers are entering the market, contributing to a softer pricing environment as downward pressure on home prices persists, particularly in states like Texas and Florida.
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