The Monday Show

SUMMARY: No signs of slowing as Case-Shiller reports that March saw record home price appreciation, consumer confidence falls slightly in May, and Conor Sen writes at Bloomberg that you might want to wait a little longer if you are thinking of buying...

Sources:

• Home Prices Up 20.6% in March
• Consumer Confidence Falls Slightly in May
• CONOR SEN: Ready to Buy a House? Just Wait a Few Weeks

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Mortgage demand falls for the second week in a row despite a slight drop in rates and The Federal Reserve releases its minutes from the last meeting about the future of inflation, the labor market, and the overall economy...

Sources:

• Mortgage Demand for the 2nd Week
• The Fed is Optimistic about the Economy But Concerned About Inflation

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: New home sales fall 16% in April but inventory levels rise, a new paper says the work from home boom was the majority reason for the housing boom, and a great piece by  Jerusalem Demsas in the Atlantic points out that the left-wing liberals in Palo Alto stopping development seem a lot like the right-wing conservative who don't want immigration...

Sources:

• New Home Sales Plummet in April
• Remote Work Caused The Housing Boom
• JERUSALEM DEMSAS: The People Who Hate People

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Inventory levels start to climb but prices have yet to be impacted, a majority of American households were feeling financially sound at the end of 2021, and NIMBYs are beating YIMBYs by literally building in their backyards in California...

Sources:

• Inventory Levels Have Started Their Climb
• Feeling Good at the End of 2021
• Defeat NIMBYs by Literally Building in Your Backyard

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Bidding wars fall to a one-year low, Zillow revises 2022 projections downward in May, and Derek Thompson believes that the housing market has peaked

Sources:

• Bidding Wars Fall to a One-Year Low
• Zillow Revises Projections Downward in May
• Derek Thompson: The U.S. Housing Market Has Peaked

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Existing-home sales fall for the third month in a row but prices and inventory are up and continuing claims fall to a 53-year low...

Sources:

• Existing-Home Sales For The Third Month
• Continuing Claims Hit A 53-Year Low

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Housing starts and building permits underwhelm everywhere except in the South, mortgage demand falls double digits after two weeks of increases, and Megan Cassella argues in Barron's that Americans’ spending spree is making the Fed’s job tougher...

Sources:

• Housing Starts & Permits Underwhelm in April
• Mortgage Demand Falls Despite  a Slight Drop in Rates
• MEGAN CASELLA:  Americans’ Spending Spree Is Making the Fed’s Job That Much Tougher

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Retail spending jumps as expected but fails to meet price growth and rent growth hits a record in March with Miami seeing 40% year-over-year price increases...

Sources:

• Rent Growth Hits One-Year Record
• Retail Spending Up As Expected in April

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: The Biden administration releases a plan to help with the housing inventory shortage, home equity continues to climb in Q1, and a lot of inflation data this week globally is released...

Sources:

• President Biden Announces New Actions to Ease the Burden of Housing Costs
• Home Equity Jumped In Q1
• Happening This Week

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: The Producer Price Index was similar to CPI in that it showed a tiny drop but little relief in the grand scheme of things, Freddie Mac reported rates were up slightly for the week, and a new WSJ analysis found that the rent vs buy ratio has changed as home prices have skyrocketed these last two years...

Sources:

• Producer Prices Ease Slightly
• Mortgage Rates Ticked Up Slightly
• WSJ: Is It Better to Rent or Buy? What to Do in a Hot Housing Market

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201