MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News
80
December 2023
F I N A L T H O U G H T S
"fed up"
Doug Duncan, Fannie Mae SVP and Chief Economist, discusses the pessimistic consumer
sentiment many are feeling toward the housing market, high home prices, and the increasing cost of
living, citing inflation as their primary frustration.
"interest rate shock"
Jeremy Sicklick, Co-Founder and CEO of HouseCanary, discloses how difficult market conditions
will be in the future for homebuyers, as interest rates continue to pose the biggest challenge in
affecting new listing volume, turning many would-be buyers toward the rental market.
"high-rate environment"
Joel Kan, MBA's VP and Deputy Chief Economist, details the surge in U.S. purchase activity
for newly constructed homes, which reached the ninth consecutive month of annual growth in
November, as home builders continue to temper the market with buyer incentives.
"boom-and-bust cycle"
Dave Liniger, Co-Founder and Chairman of the Board of Real Estate Brokerage at RE/MAX,
explains the ongoing problem with tremendous housing demand, limited inventory, and what would
happen to home sales if interest rates began to decline.
"sting of high mortgage rates"
Sheharyar Bokhari, Senior Economist at Redfin, talks about how affluent Americans are the only
demographic of consumers that are able to spend less on housing and avoid the overwhelming
impact of elevated interest rates, as potential homebuyers nationwide continue to be priced out and
sidelined from purchasing a home.
FINAL THOUGHTS
In this month's Final Thoughts, experts highlight consumer sentiment within the housing
market, outweighing demand vs. limited inventory, future challenges surrounding
mortgage rates, and homebuying—in addition to inflationary pressures—as Americans
nationwide continue to be discouraged in their pursuit of homeownership.
