-
Housing turnover will drop to lowest rate since the 80s, economist projects
UBS U.S. homebuilders and building products analyst John Lovallo discusses whether housing has entered a recession after home search activity on Google plunged in November on ‘Varney & Co.’ Home sale activity next year may reach the lowest point since the early 1980s as households buying or selling real estate retreat from the market, predicts Redfin deputy chief economist Taylor Marr. Marr projected that only 32 out of 1,000 households will sell their home in 2023. Affordability in the housing market is likely to “remain a pretty strong constraint” next year even if mortgage rates ease, Marr said. “Mortgage interest rates have risen rapidly this year … raising the monthly…
-
I’m the chief economist for a $5 billion real estate data and title company. Here are 5 things you need to know about the housing market now
Mark Fleming Housing has become increasingly unaffordable to millions of Americans — with home prices and mortgage rates continuing to rise (see the lowest rates you may qualify for now here). So – as part of our series where we ask prominent economists and real estate pros their take on the housing market now – we talked to Mark Fleming. Fleming – the chief economist for title, settlement, real estate data and risk solutions company First American Financial Corporation – has analyzed and forecast the real estate and mortgage markets for 20 years. Before becoming the chief economist at First American, Fleming developed insights and analytical products for CoreLogic as…
