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Housing market data positive despite Powell’s Grinch act

Federal Reserve Chairman Jerome Powell played the Grinch last week for the housing market, sending mortgage rates higher after his remarks at the Fed presser on Wednesday. Despite this, we had positive data on existing home sales, purchase applications, and our weekly pending contract figures. Total active listings are experiencing their traditional seasonal decline, but…

Two charts that explain why Texas housing markets have stalled

Relatively cheap housing, low taxes, looser COVID-19 restrictions and an influx of major employers turned Texas housing markets into hotspots after the pandemic began in March 2020.  There weren’t many metro areas that rivaled the boom in Austin. The emerging technology sector brought wealth from the West Coast and pushed home prices sky high in…

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