While the U.S. housing market remains in “a slump,” there are signs that circumstances are “gradually” improving, according to a First American senior economist.
In a complimentary webinar recently hosted by October Research, First American Financial Corp. Senior Economist Sam Williamson shared data and his projections for the residential real estate market in the fourth quarter.
“We’re cautiously optimistic that existing home sales are going to continue to rise gradually as home prices…appreciate modestly at the same time as incomes continue to rise and mortgage rates continue to gradually drift lower,” Williamson said. “We’re hoping for a pick-up in existing home sales, although (it’s) not going to be back to pre-pandemic levels yet.”
Williamson’s presentation provided data on existing and new home sales, new residential construction, and how demand for housing compares to the amount of homebuilding. He also explained why there is a shortage of homes for sale and whether he thinks home affordability will improve in the last quarter of 2025.
Williamson’s program also covered topics such as the unemployment rate, Core Personal Consumption Expenditures inflation, and the number of credit card delinquencies.
To hear Williamson’s thoughts, watch the webinar here.