November 2016 Market Report: Home Values Growing at Fastest Pace Since 2006
As 2016 comes to a close, annual growth in rents has stabilized, the number of homes listed for sale is at its lowest point on record and annual home value growth is accelerating. Looking ahead into 2017 and beyond, all three of these trends are likely to continue influencing each other and the market as a whole.
Q3 2016 Negative Equity Report: Bottom Heavy
Negative equity continues to recede as home values keep rising and the market inches ever closer to fully, finally regaining all value lost during the recession. And crucially, as home value growth among less-expensive homes outpaces growth at the higher end, negative equity is falling at a faster clip among entry-level homes – the exact kinds of homes sought by all-important first-time home buyers.
What Distinguishes the Markets Renters Want to Move to From the Markets Renters Want to Leave
The (real or imagined) allure of greener pastures beyond the horizon is a near-constant theme in the American national imagination, and regional migration – the movement of people across the country – is among the most important drivers of local differences in housing demand and desirability. And in the simplest sense, areas with lots of people looking to leave can often be considered less desirable, while markets with lots of people eager to move in are likely more desirable. But not always.
Is Your City Building Enough Housing? Weighing Today’s Housing Promises Versus Past Housing Delivery
A lack of new housing supply has been blamed for a raft of housing issues plaguing many large U.S. housing markets, including rapid appreciation, deteriorating affordability (especially at the lower end of the market and for renters) and very limited inventory. In response, mayors’ offices nationwide have formulated plans focused on building new housing and rehabilitating and preserving what housing already exists. But are these plans enough, and are they feasible?
Annual growth in median rents nationwide has slowed considerably from last summer’s breakneck pace, offering some relief to renters struggling to pay less money to their landlords and put more money into savings for a home purchase. But just because rental growth is slowing down, doesn’t mean it’s not still growing – and incredibly quickly – in some of the nation’s hottest markets, according to the Zillow Rent Forecast, contributing to continued affordability concerns.
August 2016 Market Report: Steady as it Goes
From 10,000 feet, the U.S. housing market has been nothing if not predictable in 2016 – inventory has been down, home values have grown at a remarkably steady pace and sellers have largely been sitting pretty. None of these trends shifted meaningfully in August, though there are a precious few signs emerging that hint at potential changes on the horizon.
Some Western Boomtowns Buck the National Trend in Homeownership
The homeownership rate in the United States has declined steadily over the past decade, touching 50-year lows in early 2016. But some booming and still relatively affordable parts of the country are bucking the national trend, according to an analysis of 2015 American Community Survey data.
