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☆ As home sellers, buyers wait on a Fed cut, here's how mortgage rates have impacted the spring housing market
▼ + stars: | 2024-04-29 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

People looking to buy or sell a home this spring are paying close attention to mortgage rates. The average 30-year, fixed-rate mortgage rose to 7.17% for the week ending April 25, according to Freddie Mac data via the Federal Reserve. It remains unclear when the Federal Reserve might make its first rate cut. "I believe our first rate cut is penciled in for July," said Matthew Walsh, assistant director and economist at Moody's Analytics. "We might not see rates fall in any meaningful way until [the] later half of this year," he said.

Persons: Freddie Mac, Matthew Walsh, Walsh Organizations: Federal Reserve, Moody's Analytics, Finance

☆ Home price growth is back at pre-pandemic levels. Here's what that means for buyers and sellers
▼ + stars: | 2024-03-25 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

"We're back to that trend, despite these higher mortgage rates," she said. However, the market today is vastly different from the market two to eight years ago, experts say. The average home is still unaffordable for most potential buyers while inventory has slightly improved but not enough to meet demand. "The sentiment we're getting from our agents is that neither sellers nor buyers are satisfied with this market," Fairweather said. And buyers are disappointed in rising prices and rising mortgage rates."

Persons: Daryl Fairweather, Matthew Walsh, It's, Fairweather, Sellers Organizations: Finance, Moody's Locations: U.S

☆ Are home prices in your state overvalued or undervalued? Here's where all 50 states stand, according to market research firm Moody's.
▼ + stars: | 2023-10-20 | by ( William Edwards | ) www.businessinsider.com time to read: +1 min

Moody's economist Matthew Walsh sees US home prices on a national basis as slightly overvalued. According to the renowned market research firm's model, national median prices are currently 15.7% above their fundamental value, leading Walsh to believe they'll face another 4-4.5% decline in the coming months. The model accounts for variables like construction costs, household formation rates, and where home prices stand relative to median incomes. Below, we've listed where every state — plus Washington, DC — stood as of Q2 2023, according to Moody's model. Walsh said that he considers home prices in any state where they exceed their fundamental value by over 10% as "overvalued."

Persons: Matthew Walsh, Walsh, they've, DC —, We've Organizations: DC Locations: Washington, Redfin

☆ 10 cities where home prices are set to decline the most over the next 3 years with real-estate values overinflated, according to Moody's
▼ + stars: | 2023-10-17 | by ( William Edwards | ) www.businessinsider.com time to read: +1 min

Moody's economists expect US home prices to fall by around 4.5% in the years ahead. Home prices in cities like Provo, Utah and Clarksville, Tennessee will fall most, Moody's says. Some housing markets around the US are in for a rough few years. According to Matthew Walsh, an economist at Moody's focused on housing, national home prices are due to decline to the tune of about 4.5% in the near future, following a 40% surge since 2020. Based on several factors including a valuation model, Walsh shared with Insider Moody's projections for markets where they see home prices falling most in the years ahead.

Persons: Moody's, Matthew Walsh, Walsh Locations: Provo , Utah, Clarksville , Tennessee

☆ Moody's shares its top 10 cities for home-price appreciation over the next 3 years — including 5 with median prices under $170,000 — with home values on a national basis set to fall further
▼ + stars: | 2023-10-15 | by ( William Edwards | ) www.businessinsider.com time to read: +2 min

But the housing market isn't necessarily locked into a period of sustained high home prices, at least yet, according to housing-focused Moody's economist Matthew Walsh. Walsh told Insider on Thursday that he expects national home prices to fall by around another 4% by the end of the current cycle. Below, we've listed the 10 markets where Walsh sees the highest upside from August 2023 through August 2026. While Walsh is most bullish on these markets, he said the appreciation wouldn't be flashy. We've also listed the current median home price in each market, according to Redfin data.

Persons: Matthew Walsh, Walsh, We've Organizations: National, National Association of

☆ The last, best hope for homebuyers
▼ + stars: | 2023-07-19 | by ( James Rodriguez | ) www.businessinsider.com time to read: +12 min

But there may be one last hope for salvation for these hard-pressed homebuyers: brand-spanking new houses. Many builders are even dangling perks like cheaper loans or other discounts to ease the pain of higher mortgage rates. Homebuilding is typically a cyclical industry, following the ups and downs of the broader housing market. Of course, people will always move for reasons that have nothing to do with mortgage rates. Even if buyers get some relief from new housing construction, builders are still a long way off from bridging the housing shortfall.

Persons: Richard de Chazal, William Blair, de Chazal, Realtor.com, bottoming, John Burns, Black Knight, Mike Simonsen, Simonsen, bode, it's, Sheryl Palmer, Taylor Morrison, Palmer, Cristian deRitis, Jay Parsons, Matthew Walsh, Walsh, Freddie Mac, Lawrence Yun, They're, production's, James Rodriguez Organizations: Federal Reserve, National Association of Realtors, John Burns Research, Consulting, Altos Research, National Association of Homebuilders, Builders, Moody's

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