1、Housing starts falling sharply by 9.6% in July, per Commerce Dept, matching NAHB numbers, US housing is no doubt already in deep recession.
2、Head of Research at John Burns RE consulting expects to see 10% price correction for the previously red hot markets, leading the price cut will be Boise, then Austin and LV soon follow.
3、Zonda chief economist said no doubt housing market has drastically slower, MW mountain west region leads the cooldown.
4、Total mortgage demand continue to slide, dropping to lowest level in 22 years, as refi demands down 82% YOY, and new purchase down 18% per MBA.
5、CA may finally moves to increase its housing supply, in first 6 months of 2022, CA filed 62k housing unit permits, second highest level since 2007 before bubble bursted.
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