Steven Thomas

Reports On Housing started in 2004 by Steven Thomas w/ a Quantitative Economics and Decision Sciences degree, an expert analysis of real estate housing trends.

[Steven Thomas @housereports]

Orange County New Listings 🏡

New listing activity started the year below last year's pace, likely due in part to lower mortgage rates early in 2026.

As rates have moved higher amid economic uncertainty and global tensions, the gap with last year has narrowed.

#HousingMarket

[Steven Thomas @housereports]

Maricopa County - Phoenix Closed Sales: April 2026 🌵

Sales were nearly unchanged from March, rising by just 7 homes month over month.

Even so, activity was 5% higher than a year ago, a sign that the market continues to show resilience despite affordability challenges.

#sold

[Steven Thomas @housereports]

Clark County - Las Vegas Closed Sales: April 2026 🎰

Sales slipped 5% month over month and 4% year over year, making for a softer month in the market.

Higher mortgage rates continue to weigh on activity, slowing the pace of sales.

#HousingMarket #RealEstate

[Steven Thomas @housereports]

📊 Mortgage rates fell to 6.56% this week. Markets reacted positively as peace negotiations continued without major setbacks, helping ease inflation concerns and push bond yields lower.

📅 Jobs week is next.

#MortgageRates #HousingMarket

[Steven Thomas @housereports]

Bay Area Closed Sales: April 2026 🌉

Sales posted a surprisingly strong month, jumping 20% month over month and 6% year over year despite rising mortgage rates.

April activity was also just 18% below the pre-COVID average. A market worth watching from here.

#HousingMarket #RE

[Steven Thomas @housereports]

San Bernardino County Closed Sales April 2026 🏜️

Sales fell 6% year over year and are running 40% below the pre-COVID average.

With activity nearing its seasonal peak, lower mortgage rates may be needed sooner rather than later to improve market conditions.

#HousingMarket #RE

[Steven Thomas @housereports]

Riverside County Closed Sales: April 2026 🌄

Sales declined compared to both last year and the pre-COVID average.

Activity has cooled, showing how sensitive this market remains to today’s affordability pressures.

#HousingMarket #RealEstate

[Steven Thomas @housereports]

📊 Mortgage rates ended the week near 6.65% after spiking Tuesday on inflation concerns tied to the war, then easing as signs of progress toward a peace deal emerged.

📅 PCE is up next Friday.

#MortgageRates #HousingMarket

[Steven Thomas @housereports]

Ventura County Closed Sales: April 2026 🌴

Sales jumped 10% year over year, a notable gain in today’s market.

Despite elevated rates, activity picked up, pointing to pockets of strength across the region.

#HousingMarket #RealEstate

[Steven Thomas @housereports]

San Diego County Closed Sales: April 2026 🌊

Sales were essentially flat, with just two more homes sold than last year.

In today’s rate environment, even holding steady highlights how tight and balanced the market remains.

#HousingMarket #RealEstate

[Steven Thomas @housereports]

Los Angeles County Closed Sales: April 2026 🎬

Sales fell 4% year over year and remain 25% below the pre-COVID average.

Activity continues to lag as affordability challenges keep a lid on demand.

#HousingMarket #RealEstate

[Steven Thomas @housereports]

Orange County Closed Sales: April 2026 🍊

Closed sales edged up 1% year over year.

Not a major move, but with mortgage rates still elevated, even modest gains point to resilience in today’s market.

#HousingMarket #RealEstate

[Steven Thomas @housereports]

📊 Mortgage rates rose to 6.62% this week. PPI came in above expectations on Wednesday, pushing bond yields higher, while the lack of progress in peace talks continued to add pressure to inflation expectations.

📅 PMI is up next week.

#MortgageRates #HousingMarket

[Steven Thomas @housereports]

@jonbrooks Not true. The spreads are better this year. Mortgage rates are 0.5% lower than a year ago, and inventory is dipping below last year's level. Look at the full picture and avoid cherry-picking data points to support a narrative; it is misleading.

[Steven Thomas @housereports]

Southern California Expected Market Time update ⏱️

EMT has recently dipped below last year’s levels, signaling a slight pickup in market speed.

Whether this holds will likely come down to consumer sentiment and where mortgage rates head next.

#HousingMarket #SoCalRealEstate

[Steven Thomas @housereports]

Southern California distressed listings are trending higher! 📈

Even with the recent rise, they are still below the 3-year pre-COVID average.

A shift worth watching, but not at elevated levels just yet.

#HousingMarket #SoCalRealEstate

[Steven Thomas @housereports]

The “largest gap ever” narrative depends on how far back the data goes.

In Southern California, the biggest supply vs. demand gap in our records was in September 2014. May 2025 is still about 10,000 lower.

If Great Recession data were included, 2014 would look small.

#Housing

[Steven Thomas @housereports]

Southern California housing demand has remained remarkably steady through 2026 so far 📈

With little improvement in affordability from mortgage rates, demand is similar to the past couple of years and remains well below the pre-COVID norm.

#HousingMarket #SoCalRE

[Steven Thomas @housereports]

📊 Mortgage rates fell to 6.42% this week after hitting 6.56% on inflation and geopolitical concerns. Mixed jobs data also hinted that the labor market may be weakening. 📉

📅 Next week brings CPI, PPI, and Retail Sales. Expect volatility for mortgage rates. 📊

#MortgageRates

[Steven Thomas @housereports]

Maricopa County Phoenix New Listings: April 2026 🌵

Seller activity continues to run below both last year’s pace and the 3-Yr. average.

Even with last year already trending softer than normal, fewer homeowners are choosing to enter the market today.

#HousingMarket #RealEstate