Today’s podcast discusses the odd reality that purchase application data is back to 2009 levels and inventory data isn’t. I try my best to explain this reality we are in today.
Purchase application data has held up much better than I thought it would. I looked for 18%-22% declines year over year on a four-week moving average. So far, we have had declines of 12.5%. When this data line moves, it’s up or down 20%-30% year over year. We will be having more challenging comps coming this October.
I am no longer writing for my blog; all my work can be found at HousingWire; you can use my LoganVIP50 code to join HousingWire Plus. The most recent article discusses the struggles of getting inventory back to normal, even with purchase application data back to 2009 levels.
The goal always is to get inventory back to a range between 1.52 – 1.93 million. We have some work to do.
“We have always held to the hope, the belief, the conviction that there is a better life, a better world, beyond the horizon.” Franklin D. Roosevelt
Logan Mohtashami is a Lead Analyst for Housing Wire, financial writer, and blogger covering the U.S. economy with a specialization in the housing market. Logan Mohtashami, now retired, spends his days and nights looking at charts and nothing else