The latest figures from Case-Shiller (+0.7% MoM in September), FHFA (+0.6% MoM), CoreLogic and Black Knight (both +0.2% MoM) showed continued, broad-based growth in home prices. Case-Shiller’s national index and 13 of its 20 big city indexes hit new record highs in September. Based on the growth in home prices year-to-date, full year 2023 will likely see prices up 6-8% year-over-year. #homepricerecords
Pending Home Sales (signed contracts on existing homes) surged 8.3% from November to December, due in large part to falling mortgage rates per the NAR. Their Chief Economist, Lawrence Yun,
Sales of existing homes slid 1% from November to December, though sales are expected to move higher this year. NAR’s Chief Economist, Lawrence Yun, explained that “mortgage rates are meaningfully
Represented as Legacy Mortgage and Investment Corporation in the State Of California.
