US trade association for real estate professionals that publishes widely cited housing market data, including pending and existing-home sales reports.
US existing-home sales rose 1.5% in September to a 3.99 million annual pace, the National Association of Realtors said, but fell 2.2% from a year earlier. Many of those deals were signed at 30-year rates of 6.43% to 6.69%, below last week's 7.4%.
Reality
Freddie Mac's benchmark 30-year mortgage rate rose to 7.28% this week, a sixth straight weekly increase and the highest since November 2023. Since February it has risen as far as the 10-year Treasury yield, so the cost of a move this fall depends on the bond market's inflation outlook.
Reality
Older millennials spend just over twice what Gen Z does per customer on hobbies, according to a Bank of America Institute analysis. If the bank's economist is right that life stage drives the gap, younger millennials will grow into the same spending.
Reality
US existing-home sales fell 2 per cent in August to a 3.98 million annual pace while listings rose to 1.62 million homes, the most since November 2019, and the ratio of the two is about 4.9 months of supply.
Perspective Coverage
3 publishersReality
A demo day watched live by more than 10,000 agents, visits from senior leaders to local offices and retrained regional staff produced about 97,000 conversations from roughly one agent in five in the weeks after July's launch.
Reality
The daily 30-year fixed reached 7.24% last week. Applications feeding Q4 closings are down far more than signed contracts, and the buyers still transacting are increasingly cash buyers.
Reality
A Pew study puts that band at 22.3% of originations in 2024, while scores of 700 and above gained 24.9 points over the same period. Existing home sales are now running at a 3.98 million annual pace.
Reality
The 30-year mortgage sits 41 basis points above where it was last September, existing home sales have fallen three months running, and August's monthly inflation stepped back up to 0.4%. Housing-exposed plans need a new base case.
Reality
San Francisco's July median rose 6% on an 18.4% drop in listings, which is a supply squeeze more than a wealth shock, and the $198bn that would make it a wealth shock depends on two IPOs that have not happened.
Reality
Pending home sales fell 2.3% in July to the second-lowest reading on record, and the West hit an outright record low. A fourth year at the bottom is not a cycle you wait out.
Reality