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Consumer outlook not to blame for slowing existing-home sales

Rising rates stifle mortgage application volume Purchase Volume Takes a Hit, Responding to Rising Interest Rates – Purchase Volume Takes a Hit, Responding to Rising interest rates apr 24 2019, 5:20AM Rising interest rates continued to take a toll on mortgage applications during the week ended April 19.

With mobility on the decline, existing home sales might not have that much more room to improve. A recent report by the National Association of Realtors showed repeat homebuyers expect to live in their current home for 15 years (first-timers expect to remain in their home 10 year), up from 9 years (6 years) in 2006.

Bill Dobbins Rebecca Lynn Rebecca Lynn by Bryan White – Songfacts – Rebecca Lynn is songwriter Skip Ewing’s daughter. And while you might think Skip wrote this song about his daughter, the story is quite the reverse. During a songwriting session with good friend and.

Existing-home sales dropped in June for a third straight month.. that orders had declined 1 percent from a year earlier, blaming rising mortgage rates.. This new wariness was noticeable in the latest consumer-sentiment data. of home sales and prices, it has not slowed rising homeownership,” Freddie.

Economic and Financial Markets Monthly Review & Outlook Detailed Report May 2013.. We expect that consumer spending growth will moderate in the. Existing Home Sales (SAAR) New Home Sales (left scale, thousands)

Average mortgage rates up, but won’t affect home purchase season Rent vs. Buy Calculator – Is it Better to Rent or Buy. – Mortgage data: We use live mortgage data when calculating your home affordability. Closing costs: We have built local datasets so we can calculate what closing costs will be in your neighborhood. Selling expenses: Our data partnerships allow us to accurately estimate the costs incurred during a home sale. Taxes: We calculate taxes on a federal, state and local level.

Weekly Economic Release Summary: Consumer Spending Is Not. – Unfortunately, May real retail sales growth was only 1.3% YoY. Except for existing home sales, all releases this week maintained a downward trend line.

Housing starts fall more than expected, permits steady 2017 Top Producers Nos. 201-250 Bill Dobbins US housing starts fall more than expected in April. – US housing starts fall more than expected in April. Share on Twitter (opens new window). Residential building permits declined 1.8 per cent month-on-month to 1.352m, following an upwardly.

John Lewis and Next became the latest retailers to warn of a consumer spending slowdown on Thursday. The slump could have big consequences for the UK economy.

But, both new home sales and existing home. broader slowing of the economy. To me, there is not enough there yet to derail my analysis. So far, I’ve been proven right. However, while I believe the.

Existing home sales, which make up about 90 percent of U.S. home sales, plunged 10.3 percent from a year ago. For all of 2018, sales fell 3.1 percent to 5.34 million units, the weakest since 2015. The housing market has been stymied by higher mortgage rates as well as land and labor shortages, which have led to tight inventory and more.

The slowing of sales is blamed primarily on low housing inventory. Although slower sales did push inventory up 9.8% in April and from 3.6 months to 4.0 months, at the current pace of sales, there’s still not enough to go around, and it’s a seller’s market. The median sales price did increase to $257,900, which is up 5.4% on the year.

Consumer confidence soared past a three-decade high in December while existing-home sales rose for the first time in five months last month, suggesting higher interest rates are not deterring.

But as far as the latest slip in real estate goes, I believe it really is the weather this time that is slowing things down. So, as real estate relative stocks get cheaper, I suggest you not fret and.