The Housing and Mortgage Market Review is posted at /hammr. More balanced market conditions should also ease further home-price appreciation over the second half of the year.”
“This would be a welcome development for the long-term health of the supply-constrained market and allow supply to begin to normalize to more balanced levels.
“The housing market is poised for demand to take a step down as the recent jump in mortgage rates weighs heavily on affordability,” he said. The emergence of the Millennial homebuyer and persistency of working-from-home will continue to dominate housing demand over the next few years despite the cooling we expect in the near term, according to HaMMR author Parker Ross, Arch Global Mortgage Group’s Senior Vice President and Chief Economist. HaMMR also examines the impact of higher rates on home sales and the emergence of the “donut effect,” which describes a key shift in homebuyer preferences to lower-density housing markets and away from higher-density core city centers. GREENSBORO, N.C.–(BUSINESS WIRE)– #loanoriginators–Surging home prices and rising interest rates have decreased affordability and started to bring down demand from elevated levels, while limited inventory and the domestic impact of international crises will likely result in slower sales and home-price growth later this summer, according to the new edition of The Housing and Mortgage Market Review (HaMMR) released today by Arch Mortgage Insurance Company (Arch MI), a leading provider of mortgage insurance. Affordability Headwinds to Cool Demand, but Home Sales Will Stabilize above Pre-Pandemic Levels
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