Housing Market

As we’ve seen over the last several years, the U.S. housing market plays an integral role in the economy across the board. In 2022, the housing market’s ups and downs were unpredictable, as a perfect storm of increasing mortgage rates, low housing inventory and fluctuating buyer demand caused a downturn across all facets of the market. And while we’re just a couple of months into 2023, the housing market has continued to surprise experts and analysts at every turn.

As of February, mortgage rates continued to fluctuate up and down before hitting near 7%-levels toward the month’s end. In turn, buyer demand was impacted, but as expected, when rates took a turn downward earlier in the month, demand picked back up in the housing market. Where this ride goes next is unclear, but as the housing market finds its new normal, HousingWire will be there with the latest news to keep you informed of what’s happening. Our housing market news includes the coverage you’re looking for, from expert forecasts for the housing market in 2023 to unique insights into what’s happening across the industry.

Housing Market Tracker

  • The 10-year yield had a Lord of Rings battle at a critical technical level, pushing mortgage rates lower at the end of the week with no real break in the bond market.
  • Active inventory fell 1,109, and new listing data made a lovely comeback week to week but was still noticeably down year over year.
  • Purchase applications rose for the third straight week as rates have fallen, taking back the three weeks of negative data we saw when rates rose from 5.99% to 7.10%.

Read more

  • The 10-year yield had a roller-coaster week, and so did mortgage rates, but the 10-year yield held its critical line, and mortgage rates ended at 6.55%.
  • Weekly inventory increased by 1,734. New listing data collapsed, but we are putting an asterisk on that data line for this week.
  • Purchase application data rose 7% weekly, still down 38% year over year.
  • Purchase application data rose 7% weekly, still down 42% year over year.
  • Weekly inventory fell by 6201, and new listing data is down noticeably from last year, which was different than last week.
  • The 10-year yield, already at a key critical level, couldn’t break higher but reversed and went lower Friday after the jobs report and the news around Silicon Valley Bank.

Read more

  • Purchase application data was down 6% weekly.
  • Weekly inventory fell much more than the previous two weeks, down 11,021; new listing growth had its lowest weekly calendar print for this previous week.
  • The 10-year yield attempted to reach my peak forecast level for 2023 but failed to stay above 4%; we had over 7% mortgage rates for a day.

Read more

The latest market trends

February 2023 — HousingWire lead analyst Logan Mohtashami noted in late February that the savagely unhealthy housing market is over. According to Mohtashami, the market hit a crucial — and welcome — milestone this month, one that was necessary to get the market back to normal. 

“I am a happy camper because last year, the housing market was savagely unhealthy with days on the market in the teens, and now we are back to a normal level over 30 days,” Mohtashami said. “We can’t have a functioning housing market with days on the market below 20 days.

“Two terrible things could explain why the days on the market are below 20 days. No. 1, a massive credit housing bubble in demand, which will pop eventually. Of course, we don’t have that now. However, the second is that inventory is simply too low, with too many people chasing too few homes, which means too many bidding wars. We are not having bidding wars like we saw when the days on the market were below 20 days.”

Subscribe to Latest News

Subscribe To Read More From Housing Market.

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please