What are good metrics to research what future market may look lik
Hello friends,
What are good metrics to research what future housing market may look like 6 months to a year down the road?
Interest rates, mortgage applications, inflation and unemployment rate.
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@Joaquin Camarasa where can you get information on mortgage applications?
Google "mortgage applications" and scroll past the ads to the MBA report. Google is your friend.
What question are you really trying to answer? For example, mortgage applications are down a lot this year. How do you incorporate that into your investment thinking?
To me, the combination of higher rates, lower mortgage apps and tighter underwriting means price appreciation is arrested for at least the next year or two and probably turns to depreciation over the next 6-12 months. Therefore, I am more conservative on bids and aggressive on negotiations. I am also in no hurry to buy.
Jim.