Seasonality is marked by changes in demand, supply, and overall market dynamics based on weather, holidays, and school schedules.

The average 30-year fixed mortgage rate from Freddie Mac remained flat at 6.65%, compared to 6.63% last week.

In this analysis, we explore how the NFIP supports and influences home sales and economic activity at both the national and local levels.

If mortgage rates decrease further due to weakening in the job market, home sales will likely rise.

Home buyers are in a favorable position as they encounter more inventory and improved rates ahead of a Spring rush.

Housing market activity in August 2024 declined 2.5% from July 2024, and home sales reached a 3.86 million seasonally adjusted annual rate.

The average 30-year fixed mortgage rate decreased to 6.76% last week, the lowest rate in two months, marking six consecutive weeks of rate declines.

Lack of inventory, high home prices, mortgage rates, student debt, and childcare costs can prevent home buying; build-for-rent offers an alternative.

Mortgage rates are easing and are expected to remain in the mid-6 % range, eliminating the uncertainty of fluctuating mortgage rates for buyers.

If housing inventory continues to grow, home buyers will find themselves in a more favorable position compared to previous years.