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Housing Market Update – Preparing for Growth

By Taylor St. Germain on July 21, 2023

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Taylor St. Germain

As an experienced economist, Taylor St. Germain provides consulting services for small businesses, trade associations, and Fortune 500 companies across a spectrum of industries. His dynamic personality and extensive knowledge of economic trends and their business relevance are highly valued by clients and colleagues alike.

High mortgage rates have been contributing to significant decline in US Single-Unit Housing Starts since the middle of 2022. There is fear, confusion, and misinformation regarding the housing industry, which makes this an ideal time to move forward in what is a wealth creating opportunity you will not want to miss.

ITR Economics’ leading indicators suggest recovery in the single-family housing market is imminent. This webinar will highlight key trends that inform ITR Economics’ expectation of recovery in 2023 followed by growth in subsequent years. Acting now will create wealth in home ownership that will only grow given our inflation outlook. Equity in personal real estate combined with an affordable monthly payment will be essential during the 2030s Great Depression.

In this presentation, we will highlight key areas of opportunity from a regional perspective by looking at housing starts across the country and key migration and population trends. The webinar will include existing home sales, housing price trends, home ownership and occupancy rates, and residential delinquency rates.                             

While US Single-Unit Housing Starts have been contracting in recent quarters, the US Multi-Unit Housing Starts data has remained positive. However, ITR Economics anticipates downward pressure for the multi-family market as we progress deeper into 2023 and into 2024. We will highlight national and regional trends in permits, rents, vacancy rates, valuations, and other leading indicators that inform this outlook.

The Federal Reserve’s interest rate policy has impacted and will continue to impact mortgage rates and housing activity. We will share our perspective on Fed policy and what it will mean for the broader housing market in the coming years.

Join ITR Economics in August to understand the housing market outlook and how to ensure that you, your family, and your business are well-positioned for success in the coming years.

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