Spring-Loaded Housing Market
Inventory below pre-pandemic, demand still rising
Happy Friday! Brian Manning here with your weekly market update — let’s dive in.
Monday & Tuesday
The week started off quietly with not much economic news.
Wednesday – Existing Home Sales
We got data for the month of June showing existing home sales were down 2.7%, coming in weaker than expected. Inventory levels remain below pre-pandemic norms. For context, pre-2020, annualized sales pace averaged 5–5.5 million homes; we’re now at 3.9 million — a clear sign of demand still sitting on the sidelines. Many are simply waiting for lower interest rates, building what feels like a tightly wound spring ready to pop once rates fall.
Population Growth + Demand
Adding to this dynamic: population growth. The U.S. has millions more people than pre-pandemic levels, which suggests latent housing demand is still growing, even if not yet active.
Thursday – New Home Sales
While the media jumped on a 4.9% drop in median new home prices, it’s important to clarify: median price ≠ home appreciation. The drop simply reflects a higher volume of sales in the $300K–$500K range and fewer in higher brackets. Prices aren’t falling — the sales mix just shifted.
Friday – Durable Goods Report
Durable goods orders were down 9.3% overall, but the core number (which strips out aircraft and defense) dropped 0.7% month-over-month. This reflects a general pullback in consumer spending on big-ticket items.
Realtors: Two Luncheons Next Week!
We’re hosting Winning in Today’s Market next week:
- Boulder: Wednesday at Blackbelly
- Denver: Thursday at Capital Guru
Seats are limited — RSVP now if you haven’t already!
🎙️ Just Launched: Balance in Motion Podcast
Our first episode is live! It’s a raw look at high-performance living — and why we think balance is bullshit. We explore how high achievers find flow amid chaos and shifting priorities. Check it out wherever you get your podcasts.
As always, I’m available 7 days a week from 8am–8pm for any mortgage questions, pre-approvals, or just to talk shop.
Have an amazing weekend!
— Brian Manning
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Questions? Concerns? Ready to get started with my strategic buyer consultation?
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Brian@BrianManningTeam.com
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