Housing Debrief August 2023

August 22, 2023

Housing Debrief graphic with market charts and a smiling man in a suit.

Man in a gray suit points upward toward the camera.

Evolving Real Estate Trends banner with paper airplanes and Reports on Housing branding.

Number 1 marking the first item.

Moving-distance infographic over a red semi-truck on a forested road, with three distance statistics.

Market graphic: 26% of sales are cash buyers; first-time buyers are hard to compete.

First-time home buyers have a median age of 36, according to the National Association of REALTORS®.

U.S. Freddie Mac home price index chart, with a blue historical trend line and an arrow pointing to its latest rise.

Chart of monthly U.S. house price index changes, showing 2022 declines and a rebound in 2023.

California Freddie Mac house price index chart, highlighting 0% year-over-year, +1.4% month-over-month, and a January bottom.

California Freddie Mac monthly house price changes, January 2020–June 2023, with a 2022 decline and 2023 rebound.

A white sign reads “Scarcity gone!” amid glossy red shapes and shards.

Graphic says mortgage rates will remain higher for longer as silhouetted figures balance an interest rates sign.

Fannie Mae mortgage rate projections for 2023, declining from 6.4% in Q1 to 5.7% in Q4.

Fannie Mae mortgage rate projections show quarterly rates for 2023 and 2024, declining to 5.9% in late 2024.

NAR mortgage rate projections: 6.7% Q1, 6.3% Q2, 5.9% Q3, 5.7% Q4 2023.

30-year fixed rate to average 6% in 2024

MBA projections show mortgage rates falling from 6.4% in Q1 to 5.3% in Q4 2023.

Two people toast with amber beer mugs in a warmly lit bar, with a dartboard behind them.

A suited person rides a jet-powered shopping cart across a running track.

Section 1 marker for the August 2023 housing debrief.

Cracked dry lakebed at sunset with a blank signboard in the foreground.

U.S. housing inventory chart, with an orange arrow highlighting its low level at the right edge.

Chart compares U.S. single-family home inventory by year; August 2023 shows 492,140 homes unsold.

California housing infographic: “Hunkering Down,” with three statistics about percentages and rates.

Chart of Southern California monthly new listings, down 41% or 70,000 in January–July 2023 versus the 2017–2019 average.

The number 7.

A tornado and lightning strike over a rural road and nearby homes.

Collage of Yahoo Finance, CNBC, and Fortune headlines about falling home prices.

Cracked pale face with red lips and pointed teeth beside a clawed hand.

Housing Debrief graphic with a suited presenter and housing market headlines.

Four video thumbnails about falling U.S. home prices, including a price-drop map, a listing, a chart, and foreclosure signage.

Video thumbnail asking whether home prices will decline 30% in 2023, with a house listing and a man's portrait.

YouTube thumbnails about a U.S. real estate bubble and housing crashes, with maps and a man beside a house.

Real estate bubble video thumbnail, city list, and an orange arrow pointing to October 2020.

Infographic showing rising home values with coin stacks and example price increases.

Housing Debrief graphic asking “Want a Copy?” beside market charts and a smiling man.

Reports on Housing promotion directs viewers to ReportsOnHousing.com and points to the Subscribe button.

Two-page Orange County housing report with a snowy beach cover and housing market comparison charts.

Coupon trends graphic with a QR code.

Let’s Talk Housing episode two, “Where the Supply Crisis Started,” with Steven Thomas; out now.

Open hands presenting floating charts, graphs, and data icons against a teal background.

Amimal, banely

Senior Financial Group, Inc. specializes in reverse mortgages.

Kevin Kaltenbach, reverse mortgage specialist at Senior Financial Group, Inc.

Two-story beige house with a double garage, stone accents, and colorful flower beds along the front yard.

Senior Financial Group, Inc.

Contact information for Kevin Kaltenbach, President of Senior Financial Group, Inc.

Recent Blog Posts

Stay up to date on the latest real estate trends.

View All

Let's Talk

You’ve got questions and we can’t wait to answer them.

Housing Debrief August 2023

Recent Blog Posts

Monarch Real Estate Recognized by Shoutout SoCal

Everyone Keeps Predicting a Housing Crash

The Real Cost of Overpricing a Home

Is the Housing Bubble About to Pop?

Top Reasons Homeowners Are Selling in 2024: What It Means for the Market

How the Federal Reserve’s Next Move Could Impact the Housing Market

Let's Talk

Housing Debrief August 2023

Recent Blog Posts

Monarch Real Estate Recognized by Shoutout SoCal

Everyone Keeps Predicting a Housing Crash

The Real Cost of Overpricing a Home

Is the Housing Bubble About to Pop?

Top Reasons Homeowners Are Selling in 2024: What It Means for the Market

How the Federal Reserve’s Next Move Could Impact the Housing Market

Let's Talk

Get in Touch

Contact Details