The Cascade Team Blog

• HousingWire lead analyst on the spring housing market. Listen Now >>

• Why is housing inventory so low? Pandemic refinancing. Read Now >>

• Now might be a good time to buy due to rising rent prices. Watch Now >

• Retail sales increased 0.4% month-over-month in April.

• The National Association of Home Builders (NAHB) housing market sentiment index jumped a decent amount in May, surging past the expected level of 45 to reach a level of 50.

• Mortgage application submissions slumped a composite 5.7% during the week ending 5/12. Refinance application submissions decreased 8% while purchase application submissions decreased 4.8%.

• Building permits slipped slightly in April, falling 1.5% to a level of 1,416,000 million. Housing starts, on the other hand, climbed 2.2% to reach a level of 1,401,000 million.

• Building permits slipped slightly in April, falling 1.5% to a level of 1,416,000 million. Housing starts, on the other hand, climbed 2.2% to reach a level of 1,401,000 million.

• Continuing jobless claims decreased slightly to a level of 1,799,000 during the week ending 5/6 while initial jobless claims decreased by 20,000 to a level of 242,000.

This week's highlighted reports:

Pending home sales

WEEK OF MAY 22, 2023

Information (weekly review) (Market Movement) was provided by Mark Hedman

Sales Manager, Mortgage Loan Originator | CMG Home Loans 

Related Links:

Western Washington Housing Market Moving In a Postive Direction

Market Report - Real Estate Weekly Report

The Housing Market Locked Downed (Are Last Year’s Low Rates the Reason?)