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Spatial co-ordinations are initially random, and will automatically re-arrange to minimize complexity based on distance between relationships. Mouse down and drag to pan. Right click on the strategic diagram toggles between motion and stationary. Hover over abstract node (orange) to view abstractions. Hover over leaf node to view corresponding narrative. Left click on the leaf node expands the narrative to view full text.

Narrative Analysis - Report

Key Focus

"There are nearly six million more jobs now compared to pre-Covid highs, which suggests more aspiring homebuyers exist in the market." ...

No momentum supporting factor found

Challenge supporting factors

(mortgage,fed,yields)

(mortgage,inflation,yields)

(mortgage,yields)

(mortgage,fed,track)

(mortgage,inflation,track)

(mortgage,track)

(mortgage,inflation,bond)

(mortgage,fed,wait-and-see)

(mortgage,wait-and-see)

(mortgage,fed,pushing)

(market,housing,season)

(market,homebuyers,trickling)

(market,trickling)

(market,homebuyers,increase)

(market,homebuyers,first-time)

Work-in-progress supporting factors

(market,homebuyers,pre-covid)

(mortgage,market,pre-covid)

(nar,homebuyers,pre-covid)

(nar,market,pre-covid)

(market,homebuyers,jobs)

(mortgage,market,jobs)

(nar,homebuyers,jobs)

(nar,market,jobs)

(mortgage,market,americans)

(mortgage,market,housing,americans)

(mortgage,market,homebuyers)

(mortgage,inflation,wait-and-see)

(mortgage,inflation,pushing)

(mortgage,inflation,fed)

(mortgage,inflation,economy)

Time Period	Challenge	Momentum	WIP
Report	28.57	0.00	71.43

High Level Abstraction (HLA) combined

High Level Abstraction (HLA)	Report
(1) (market,homebuyers,pre-covid)	100.00
(2) (mortgage,market,pre-covid)	99.04
(3) (nar,homebuyers,pre-covid)	98.56
(4) (nar,market,pre-covid)	96.17
(5) (market,homebuyers,jobs)	94.74
(6) (mortgage,market,jobs)	92.82
(7) (nar,homebuyers,jobs)	90.91
(8) (nar,market,jobs)	89.95
(9) (mortgage,market,americans)	88.52
(10) (mortgage,market,housing,americans)	87.56
(11) (mortgage,market,homebuyers)	83.73
(12) (mortgage,fed,yields)	79.43
(13) (mortgage,inflation,yields)	77.03
(14) (mortgage,yields)	76.08
(15) (mortgage,inflation,wait-and-see)	74.64
(16) (mortgage,fed,track)	72.73
(17) (mortgage,inflation,track)	69.86
(18) (mortgage,track)	67.94
(19) (mortgage,inflation,pushing)	67.46
(20) (mortgage,inflation,fed)	65.55
(21) (mortgage,inflation,economy)	63.16
(22) (mortgage,inflation,bond)	60.77
(23) (mortgage,fed,wait-and-see)	56.94
(24) (mortgage,wait-and-see)	55.50
(25) (mortgage,fed,two-decade)	54.07
(26) (mortgage,two-decade)	52.15
(27) (mortgage,fed,pushing)	51.67
(28) (mortgage,fed,interest)	49.28
(29) (market,housing,united_states)	46.41
(30) (market,united_states)	45.45
(31) (mortgage,united_states)	44.98
(32) (market,housing,undone)	42.58
(33) (market,undone)	41.15
(34) (market,housing,start)	39.23
(35) (market,start)	37.32
(36) (market,housing,seasonally)	35.89
(37) (market,seasonally)	33.49
(38) (market,housing,season)	32.54
(39) (market,housing,national_association)	30.14
(40) (market,homebuyers,trickling)	25.84
(41) (market,trickling)	24.88
(42) (market,homebuyers,nar)	23.92
(43) (market,homebuyers,investors)	21.53
(44) (market,homebuyers,increase)	21.05
(45) (market,homebuyers,first-time)	19.62
(46) (nar,homebuyers,trickling)	15.79
(47) (nar,market,trickling)	14.35
(48) (nar,trickling)	13.40
(49) (nar,homebuyers,settlement)	11.96
(50) (nar,homebuyers,sellers)	10.53
(51) (nar,sellers)	8.13
(52) (nar,settlement,sellers)	6.70
(53) (nar,homebuyers,increase)	5.74
(54) (nar,market,increase)	5.26
(55) (nar,settlement,courts)	3.83
(56) (nar,settlement,buyers)	3.35
(57) (nar,market,first-time)	2.87
(58) (nar,house)	1.44
(59) (nar,pre-covid)	0.96
(60) (nar,lockbox)	0.48

Supporting narratives:

Please refer to knowledge diagram for a complete set of supporting narratives.

challenge - Back to HLA

Mortgage rates have held steady in recent weeks but are poised to rise because they track bond yields, which are climbing on persistently high inflation readings. ...
High Level Abstractions:

(mortgage,inflation,bond)
(mortgage,fed,yields)
(mortgage,yields)
(mortgage,inflation,yields)
Inferred entity relationships (9)
(fed,mortgage,two-decade) [inferred]
(inflation,mortgage,pushing) [inferred]
(inflation,mortgage,wait-and-see) [inferred]
(fed,mortgage,pushing) [inferred]
(fed,mortgage,wait-and-see) [inferred]
(inflation,mortgage,yields) [inferred]
(inflation,mortgage,track) [inferred]
(fed,mortgage,track) [inferred]
(mortgage,yields) [inferred]

challenge - Back to HLA

Mortgage rates have held steady in recent weeks but are poised to rise because they track bond yields, which are climbing on persistently high inflation readings ...
High Level Abstractions:

(mortgage,track)
(mortgage,fed,track)
(mortgage,inflation,track)
Inferred entity relationships (8)
(fed,mortgage,two-decade) [inferred]
(mortgage,track) [inferred]
(inflation,mortgage,pushing) [inferred]
(fed,mortgage,wait-and-see) [inferred]
(inflation,mortgage,yields) [inferred]
(fed,mortgage,yields) [inferred]
(inflation,mortgage,wait-and-see) [inferred]
(fed,mortgage,pushing) [inferred]

challenge - Back to HLA

Disappointing inflation reports and signs that the economy remains strong are keeping the Fed in wait-and-see mode, pushing back the timing of the first rate cut. Mortgage rates have held steady in recent weeks but are poised to rise because they track bond yields, which are climbing on persistently high inflation readings ...
High Level Abstractions:

(mortgage,fed,wait-and-see)
(mortgage,wait-and-see)
(mortgage,fed,pushing)
Inferred entity relationships (6)
(fed,mortgage,two-decade) [inferred]
(fed,mortgage,wait-and-see) [inferred]
(mortgage,wait-and-see) [inferred]
(fed,mortgage,yields) [inferred]
(fed,mortgage,track) [inferred]
(fed,mortgage,pushing) [inferred]

challenge - Back to HLA

Sales of previously owned homes in the United States fell in March as home prices climbed and mortgage rates held steady that month, reflecting the persistent pain of America's affordability woes and undermining the crucial spring homebuying season.. . Existing home sales, which make up the majority of the housing market, fell 4.3% in March to a seasonally adjusted annual rate of 4.19 million, the sharpest drop in more than a year, the National Association of Realtors reported Thursday ...
High Level Abstractions:

(market,housing,season)
Inferred entity relationships (5)
(housing,market,united_states) [inferred]
(housing,market,seasonally) [inferred]
(housing,market,undone) [inferred]
(housing,market,start) [inferred]
(housing,market,national_association) [inferred]

challenge - Back to HLA

One bright spot in NAR's latest report on existing home sales: There was an increase in first-time homebuyers trickling into the market. They represented 32% of all transactions in March, up from 26% in February and 28% higher than a year ago, while the share of buyers who were investors declined in March ...
High Level Abstractions:

(market,homebuyers,trickling)
(market,homebuyers,increase)
(market,trickling)
(market,homebuyers,first-time)
Inferred entity relationships (7)
(homebuyers,market,pre-covid) [inferred]
(market,trickling) [inferred]
(homebuyers,market,mortgage) [inferred]
(increase,market,nar) [inferred]
(homebuyers,market,trickling) [inferred]
(homebuyers,increase,nar) [inferred]
(homebuyers,market,nar) [inferred]

WIP - Back to HLA

"There are nearly six million more jobs now compared to pre-Covid highs, which suggests more aspiring homebuyers exist in the market." ...
High Level Abstractions:

(market,homebuyers,pre-covid)
(nar,market,jobs)
(mortgage,market,jobs)
(nar,homebuyers,pre-covid)
(nar,homebuyers,jobs)
(market,homebuyers,jobs)
(mortgage,market,pre-covid)
(nar,market,pre-covid)
Inferred entity relationships (14)
(homebuyers,jobs,market) [inferred]
(homebuyers,jobs,nar) [inferred]
(homebuyers,nar,settlement) [inferred]
(homebuyers,market,trickling) [inferred]
(jobs,market,nar) [inferred]
(nar,pre-covid) [inferred]
(market,nar,pre-covid) [inferred]
(homebuyers,nar,trickling) [inferred]
(homebuyers,market,mortgage) [inferred]
(market,mortgage,pre-covid) [inferred]
(homebuyers,nar,sellers) [inferred]
(homebuyers,market,nar) [inferred]
(market,nar,trickling) [inferred]
(jobs,market,mortgage) [inferred]

WIP - Back to HLA

Rising home prices coupled with mortgage rates stuck at elevated levels means Americans are still dealing with a tough housing market. ...
High Level Abstractions:

(mortgage,market,housing,americans)
(mortgage,market,americans)
Inferred entity relationships (7)
(housing,market,united_states) [inferred]
(housing,market,seasonally) [inferred]
(housing,market,season) [inferred]
(market,mortgage,pre-covid) [inferred]
(housing,market,undone) [inferred]
(housing,market,start) [inferred]
(housing,market,national_association) [inferred]

WIP - Back to HLA

"There are nearly six million more jobs now compared to pre-Covid highs, which suggests more aspiring homebuyers exist in the market.". . A difficult road ahead for the market. ...
High Level Abstractions:

(mortgage,market,homebuyers)
Inferred entity relationships (4)
(homebuyers,market,pre-covid) [inferred]
(market,mortgage,pre-covid) [inferred]
(homebuyers,market,trickling) [inferred]
(homebuyers,market,nar) [inferred]

WIP - Back to HLA

Disappointing inflation reports and signs that the economy remains strong are keeping the Fed in wait-and-see mode, pushing back the timing of the first rate cut. ...
High Level Abstractions:

(mortgage,inflation,wait-and-see)
(mortgage,inflation,fed)
(mortgage,inflation,pushing)
Inferred entity relationships (5)
(inflation,mortgage,pushing) [inferred]
(inflation,mortgage,yields) [inferred]
(mortgage,wait-and-see) [inferred]
(inflation,mortgage,track) [inferred]
(inflation,mortgage,wait-and-see) [inferred]

WIP - Back to HLA

Disappointing inflation reports and signs that the economy remains strong are keeping the Fed in wait-and-see mode, pushing back the timing of the first rate cut ...
High Level Abstractions:

(mortgage,inflation,economy)
Inferred entity relationships (4)
(inflation,mortgage,pushing) [inferred]
(inflation,mortgage,yields) [inferred]
(inflation,mortgage,track) [inferred]
(inflation,mortgage,wait-and-see) [inferred]

WIP - Back to HLA

Last year, home sales were in the doldrums at their lowest level in nearly three decades as mortgage rates shot up, reaching a two-decade high of 7.79% in October.. . Then mortgage rates began to decline on hopes that the Fed would cut interest rates aggressively in 2024, but those expectations have been thrown out the window ...
High Level Abstractions:

(mortgage,two-decade)
(mortgage,fed,interest)
(mortgage,fed,two-decade)
Inferred entity relationships (5)
(fed,mortgage,wait-and-see) [inferred]
(mortgage,two-decade) [inferred]
(fed,mortgage,yields) [inferred]
(fed,mortgage,track) [inferred]
(fed,mortgage,pushing) [inferred]

WIP - Back to HLA

Sales of previously owned homes in the United States fell in March as home prices climbed and mortgage rates held steady that month, reflecting the persistent pain of America's affordability woes and undermining the crucial spring homebuying season. ...
High Level Abstractions:

(market,united_states)
(market,housing,united_states)
Inferred entity relationships (6)
(housing,market,seasonally) [inferred]
(housing,market,season) [inferred]
(housing,market,undone) [inferred]
(housing,market,start) [inferred]
(market,united_states) [inferred]
(housing,market,national_association) [inferred]

WIP - Back to HLA

Sales of previously owned homes in the United States fell in March as home prices climbed and mortgage rates held steady that month, reflecting the persistent pain of America's affordability woes and undermining the crucial spring homebuying season ...
High Level Abstractions:

(mortgage,united_states)

WIP - Back to HLA

Home sales are up from the decades-lows seen last fall and were off to a robust start this year, but now that momentum seems to have come undone. ...
High Level Abstractions:

(market,housing,undone)
(market,housing,start)
(market,undone)
(market,start)
Inferred entity relationships (8)
(housing,market,united_states) [inferred]
(housing,market,season) [inferred]
(housing,market,undone) [inferred]
(market,start) [inferred]
(housing,market,start) [inferred]
(housing,market,seasonally) [inferred]
(market,undone) [inferred]
(housing,market,national_association) [inferred]

WIP - Back to HLA

Existing home sales, which make up the majority of the housing market, fell 4.3% in March to a seasonally adjusted annual rate of 4.19 million, the sharpest drop in more than a year, the National Association of Realtors reported Thursday ...
High Level Abstractions:

(market,seasonally)
(market,housing,seasonally)
Inferred entity relationships (6)
(housing,market,united_states) [inferred]
(market,seasonally) [inferred]
(housing,market,season) [inferred]
(housing,market,undone) [inferred]
(housing,market,start) [inferred]
(housing,market,national_association) [inferred]

WIP - Back to HLA

Existing home sales, which make up the majority of the housing market, fell 4.3% in March to a seasonally adjusted annual rate of 4.19 million, the sharpest drop in more than a year, the National Association of Realtors reported Thursday. ...
High Level Abstractions:

(market,housing,national_association)
Inferred entity relationships (5)
(housing,market,united_states) [inferred]
(housing,market,seasonally) [inferred]
(housing,market,season) [inferred]
(housing,market,undone) [inferred]
(housing,market,start) [inferred]

WIP - Back to HLA

One bright spot in NAR's latest report on existing home sales: There was an increase in first-time homebuyers trickling into the market ...
High Level Abstractions:

(market,homebuyers,nar)
Inferred entity relationships (5)
(homebuyers,market,pre-covid) [inferred]
(homebuyers,market,mortgage) [inferred]
(homebuyers,market,trickling) [inferred]
(market,nar,pre-covid) [inferred]
(market,nar,trickling) [inferred]

WIP - Back to HLA

They represented 32% of all transactions in March, up from 26% in February and 28% higher than a year ago, while the share of buyers who were investors declined in March. ...
High Level Abstractions:

(market,homebuyers,investors)

WIP - Back to HLA

One bright spot in NAR's latest report on existing home sales: There was an increase in first-time homebuyers trickling into the market. ...
High Level Abstractions:

(nar,market,trickling)
(nar,trickling)
(nar,homebuyers,increase)
(nar,homebuyers,trickling)
(nar,market,increase)
(nar,market,first-time)
Inferred entity relationships (7)
(homebuyers,increase,market) [inferred]
(homebuyers,nar,settlement) [inferred]
(market,nar,pre-covid) [inferred]
(nar,trickling) [inferred]
(homebuyers,nar,pre-covid) [inferred]
(homebuyers,nar,sellers) [inferred]
(market,nar,trickling) [inferred]

WIP - Back to HLA

A historic NAR settlement, which was announced in March and is expected to change how homebuyers and sellers pay their real estate agents, hasn't been approved by the courts yet ...
High Level Abstractions:

(nar,homebuyers,settlement)
(nar,homebuyers,sellers)
(nar,settlement,sellers)
(nar,sellers)
Inferred entity relationships (6)
(homebuyers,nar,trickling) [inferred]
(nar,sellers,settlement) [inferred]
(nar,sellers) [inferred]
(homebuyers,nar,settlement) [inferred]
(homebuyers,nar,pre-covid) [inferred]
(homebuyers,nar,sellers) [inferred]

WIP - Back to HLA

A historic NAR settlement, which was announced in March and is expected to change how homebuyers and sellers pay their real estate agents, hasn't been approved by the courts yet. ...
High Level Abstractions:

(nar,settlement,courts)

WIP - Back to HLA

That may be "because people heard about the lawsuit settlement where the buyers possibly need to come up with extra funds to pay up some professional representation, but they want to do it before the new rules takes place sometime in July," Yun added ...
High Level Abstractions:

(nar,settlement,buyers)

WIP - Back to HLA

Close-up of real estate agent accessing house key from lockbox hanging on house's front door handle. . One bright spot in NAR's latest report on existing home sales: There was an increase in first-time homebuyers trickling into the market ...
High Level Abstractions:

(nar,lockbox)
(nar,house)

WIP - Back to HLA

"Though rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves," NAR chief economist Lawrence Yun said in a release. "There are nearly six million more jobs now compared to pre-Covid highs, which suggests more aspiring homebuyers exist in the market." ...
High Level Abstractions:

(nar,pre-covid)

Semantics Relevance

US homes sales dropped last month as March prices reached a record high