Dolly Pandya Blog

Recent housing-market data has shown the massive effect the surge in rates has had on home buyers. "The pandemic boom in home sales is over, and activity is back at pre-pandemic levels," Mizuho Securities U.S. economist Alex Pelle and chief U.S. economist Steven Ricchiuto wrote in a research note.  It's clear that the affordability challenges posed by rising rates and higher prices has cooled demand among home buyers. Nevertheless, home listings remain few and far between. That means that home prices likely will continue to grow — albeit at a slower pace — since even with a reduced pool of buyers there aren't enough properties to grow around, analysts say.

Most economists anticipate that the housing market is balancing out, meaning that bidding wars and contingencies could soon become a thing of the past.

• MarketWatch, May 8, 2022

Quickly rising mortgage rates, high home prices and a persistent inventory shortage aren't enough to sideline Dallas-Fort Worth house shoppers, judging by new data on the number of showings per listing.   DFW remains solidly in double-digit territory and among the nation's leaders in the number of showings per home, according to an index by Showing Time, a home touring technology and data firm.  The ratio of showings to listings of DFW homes in March was 16.1. That's the same as it was in March 2021 and down an almost most meaningless 2% from February.  DFW's showings ratio is well above the U.S rate of 9.3 showings per home.  Nationwide, the number of markets seeing double-digit showings per listing jumped 46% in the past two months as buyer demand continues to outpace slightly rising inventory, according to the Showing Index. In hard numbers, that's 83 markets with double-digit showings in January of this year, 109 in February and 121 markets in March of this year.  The ShowingTime Showing Index is compiled using data from more than 6 million home showings scheduled across the country each month on listings using ShowingTime products and services. It tracks the average number of appointments received on active listings during the month.

• Dallas Business Journal, April 29, 2022

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