Housing prices won’t budge, but there could be some relief on the horizon for homebuyers. As America’s affordability crisis continues to strain consumers, one of the most considerable costs, housing, is much to blame. Rising mortgage rates are making monthly payments significantly more expensive than just a few years prior, but how long can this last? According to the Vice President of Enterprise Research Strategy at ICE, Andy Walden, not much longer.
Every month, Andy’s team at ICE releases their Mortgage Monitor data reports, sharing valuable insights on what’s happening in the housing market. On this BiggerNews, we’re asking Andy to share what the data is telling him about home prices, mortgage rates, housing inventory, and buyer demand but, even more importantly, where we could be headed in 2024 and whether or not this hot housing market still has room to run.
While there has been huge home price growth over the last few years, Andy reckons prices could begin to “soften” as affordability reaches its breaking point. With demand retreating from the market and housing inventory still on the rise, prices may start to decline, and even if interest rates do fall again, we may not see the uptick in demand many home sellers are waiting for. Stick around as we unpack exactly what’s moving the housing market with ICE’s Andy Walden!
Dave:
It often seems like there are no houses on the market to buy, but what is actually going on with housing inventory right now? Will it remain low due to the high amount of equity homeowners have locked in? How does this impact affordability in the long term? This ends so much more on today’s episode.
Hi investors. I’m Dave Meyer. Welcome to your bigger news episode this week. Today we’re talking to Andy Walden, who’s the Vice President of Enterprise Research at ice. You may have heard of this company before, if you’re like me, and just follow every news story that comes about real estate to data. But if you’re…