Today’s podcast goes over why home prices aren’t crashing. It’s not like demand is booming here; a look at today’s existing home sales data. Note that with each red line drawing, every time rate rose, demand fell, and each year still had total home price growth.
Remember, with supply and demand economics, you need to look at both. If 2022 had the most significant home sales crash ever recorded, what about the supply?
NAR Total Active lisitng: Traditionally, we are between 2-2.5 million; in 2007 were a tad over 4,000,000. Today after the NAR report, we are 1,040,000, up from 1,030,000 last year.
Today’s podcast: https://www.housingwire.com/podcast/logan-mohtashami-why-arent-home-prices-crashing/
Today I wrote about the existing home sales report, and so far, after that one giant sales print, everything looks about right to me. I am not a big sales rebound person; I have always focused on the term Stabilization In Demand. If you would like to join HW Plus to have access to the tracker, please use my LoganVIP20 code.
“Keep your face always toward the sunshine and shadows will fall behind you” Walt Whitman
Logan Mohtashami is a Lead Analyst for Housing Wire, a financial writer, and a 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