Housing Finance Watch (Week 35, 2022)

Housing Finance Watch (Week 35, 2022)

Housing Finance Watch (Week 35, 2022)

Housing Finance Watch (Week 35, 2022)

Housing Finance Watch (Week 35, 2022)

Housing Finance Watch (Week 35, 2022)

Housing Finance Watch (Week 35, 2022)

Housing Finance Watch (Week 35, 2022)

Housing Finance Watch (Week 35, 2022)

​​​​​​​John Reilly
September 6, 2022
4 min

Housing Finance Watch (Week 35, 2022)

By Edward J. Pinto | Tobias Peter

September 07, 2022

PDF to full report

Key takeaways:

  • The 10-year old seller’s market continues, evidenced by:
    • Modest purchase volume declines, in spite of a cumulative 39% increase in constant quality HPA since January 2020,
    • Historically tight supply,
    • The work from home revolution, and
    • Arbitrage opportunities due to metro & regional price differences.
  • Purchase volume for week 35 is down 31% & 15% from 2021 & 2019, respectively, with HPA projected to moderate to 12.4%, 11.2%, & 10% in August, September, & October 2022, respectively.
  • If the current mortgage rate of around 6% holds, we expect December 2022 HPA to slow to 6-8% (y-o-y) as demand will further moderate and supply will increase.
  • HPA declines seem most likely at the high end of expensive markets, at the low end of some FHA markets, and in metros with stagnating or declining job growth.

John Reilly

John, a real estate educator and attorney, is one of the foremost writers of real estate materials, which include 10 books, and numerous articles. His national best seller, “The Language of Real Estate” is in its eighth edition, selling over 150,000 copies and published by Dearborn Publishing.

Contact: John@RealTown.com
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