Latest / Markets with Megan: A Quick Financial Markets Update / Still No Pulse: Housing Market Remains in a Slump | S2 E042 | 05-15-25

Transcript

Still No Pulse: Housing Market Remains in a Slump | S2 E042 | 05-15-25 · Markets with Megan: A Quick Financial Markets Update

• 0:00
  Megan Horneman: We're still not seeing much life in the housing market, at least on the survey side.
• 0:04
  Megan Horneman: It's Thursday, May the 15th, and this is Markets with Megan.
• 0:07
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• 0:09
  Megan Horneman: Hit that alarm bell.
• 0:10
  Megan Horneman: You can share with friends, family and colleagues.
• 0:13
  Megan Horneman: But we're here today to talk about some of the survey data we got from the National Association of Home Builders.
• 0:18
  Megan Horneman: This is their sentiment index that comes out on a monthly basis.
• 0:22
  Megan Horneman: It's broken down into basically three different categories that's their sentiment on the present situation of the housing market, their sentiment on the future of the housing market and then prospective buyers traffic how many buyers are actually coming through and looking at houses.
• 0:37
  Megan Horneman: Unfortunately, the broad index was very weak.
• 0:41
  Megan Horneman: It was the worst since 2023.
• 0:44
  Megan Horneman: And at a level of 34,.
• 0:45
  Megan Horneman: That index is well below the average of 52 that we've seen since about 1985.
• 0:52
  Megan Horneman: Now this is a survey for the month of May and we have seen that mortgage rates are slightly lower so far in the first couple months of May.
• 1:00
  Megan Horneman: But you're looking at about a 685 this week on a 30-year mortgage versus a 689 in April.
• 1:06
  Megan Horneman: So really not a huge difference in the mortgage rate, but still elevated.
• 1:10
  Megan Horneman: So it is keeping some of that activity at bay here.
• 1:13
  Megan Horneman: The biggest decline in this index was prospective buyers traffic and this was significantly weak Again, coming in and matching that same worst level that we saw for the broad index in 2023.
• 1:25
  Megan Horneman: The index level was 23, and the average since 1985 is 40.
• 1:32
  Megan Horneman: So very little activity in the housing market.
• 1:35
  Megan Horneman: The two regions when the index pulls this apart.
• 1:39
  Megan Horneman: We look at the Northeast, the Midwest, the South and the West, and the biggest weakness we're seeing in activity is in the South and the West.
• 1:48
  Megan Horneman: That's all we have today.
• 1:49
  Megan Horneman: If you would like to see a further history of these podcasts, you can go to marketswithmeganfm.
• 1:54
  Megan Horneman: Thank you.