US Housing Market: Rates Drop, Demand Rises, but Supply Crisis Persists in 2024
About this episode
The episode discusses the current state of the US housing market, highlighting improving affordability and rising demand amidst a persistent supply crisis.
The US housing industry this week is defined by slowly improving affordability, resilient demand, and a persistent shortage of homes, even as rates and policy debates keep conditions fragile.[1][3][5] Mortgage rates have edged down to their lowest level since May, and that small shift is already moving consumer behavior.[5] The Mortgage Bankers Association reports purchase mortgage applications are up about 1 percent week over week and roughly 21 percent compared with a year ago, signaling that buyers are stepping back in when borrowing costs ease slightly.[5] Yet Lawrence Yun of the National Association of Realtors notes that sales volumes remain in a multiyear slump, even as prices stay near record highs because the country is still short an estimated 4 million housing units, with some estimates as high as 7 million.[1][3] Compared with earlier reporting from the past few years, the core imbalance between demand and supply has not been resolved; instead, modest rate relief is unlocking only part of the pent up demand.[1] Recent deals highlight how capital is flowing most aggressively into multifamily and affordable housing. In the past few days, LCOR secured about 192 and a…
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- US Housing Market Shifts to Balance: Slower Prices, Affordable Housing Focus in 2026
- US Housing Market Shifts to Balance as Mortgage Rates and Prices Squeeze Buyers
- US Housing Market Mid-2026: Cooling Prices, Growing Inventory, and the Affordability Crisis
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