『US Housing Market Hits Lowest Pending Sales Since 2001 as Mortgage Rates Stay High』のカバーアート

US Housing Market Hits Lowest Pending Sales Since 2001 as Mortgage Rates Stay High

US Housing Market Hits Lowest Pending Sales Since 2001 as Mortgage Rates Stay High

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The US housing market has weakened sharply over the past week, with high borrowing costs freezing transactions and shifting leverage toward buyers. The average 30 year mortgage rate edged down to 7.32 percent from 7.40 percent, its first weekly decline since August, but remains well above 6.19 percent a year ago.[1][2] Demand indicators are deteriorating. Mortgage applications fell 5.3 percent in the latest reported week, while purchase applications dropped 7 percent week over week and 18 percent from a year earlier.[3] September pending home sales plunged 7.3 percent from August and were 11.3 percent below a year earlier, reaching the lowest level since the index began in 2001.[4] Builders are responding with discounts and financing incentives rather than broad expansion. The NAHB housing market index fell three points to 29, its weakest reading since 2012. Forty three percent of builders cut prices, with reductions averaging 6 percent, while 65 percent offered incentives such as mortgage rate assistance.[3] Housing starts also declined 5.2 percent in September to an annualized 1.221 million units, signaling continued pressure on supply growth.[3] Consumer bargaining power is improving, but affordability remains the central constraint. Sellers outnumbered buyers nationally by 62.6 percent in September, the widest gap since 2013. In Miami, Nashville, Houston, and Austin, sellers outnumbered buyers by roughly 130 to 160 percent.[3] Price cuts may create opportunities, yet monthly payments remain elevated because rates are more than one percentage point above last year’s level. Regulatory action is now focused on reducing transaction costs and expanding supply. President Trump’s new executive order directs federal agencies to test automatic mortgage insurance cancellation, expand digital title reviews, reduce certain government loan rates, and promote manufactured housing through standardized permitting.[6][9] These measures could help over time, but the immediate outlook remains gridlocked: rates near 7 percent, weak demand, cautious builders, and limited affordable inventory continue to suppress activity. For great deals today, check out https://amzn.to/44ci4hQ
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