May New Home Sales: On the Rebound
The number of new homes for sale increased by 4,000 units (1.5 percent) from April to 268,000 units (SAAR), its highest level since July 2009, but still low by historic standards.
May New Home Sales: On the Rebound
The number of new homes for sale increased by 4,000 units (1.5 percent) from April to 268,000 units (SAAR), its highest level since July 2009, but still low by historic standards.
May Existing Home Sales: A Surprise on the Upside
The median price of existing homes sold in May retreated 0.8 percent to $242,800 from the all-time high reported in April, the biggest month-over-month decline since October 2013. It was still up 5.8 percent from a year ago.
May Home Sales Forecast: New Home Sales Should Rebound as Existing Sales Stagnate
Existing homes sales in 2017 have been volatile, rising in one month and falling the next. We expect a slight drop for May, with a rebound in new home sales.
Moving to Opportunity: Why Breaking Family Ties Isn’t So Easy
Family is among the most important reasons why some people stay put -- and living close to extended family is a higher priority for lower-income Americans, according to the Zillow Housing Aspirations Report (ZHAR).
One-in-Five Renters Casts a Shadow on the For-Sale Housing Market
For-sale inventory is exceptionally tight and competition among buyers is high: In 2016, the typical home buyer made offers on at least two-to-three homes before closing. At the same time, almost one-in-five renters that moved into a rental unit seriously considered buying at the time, but didn’t – perhaps because of those same buying hurdles.
Demographic Headwinds Only Modest Weight on Renter Turnover
An older renter population, the growth in single-family rentals and rent affordability do not appear to be primary factors in the decline of mobility among renters. A more important driver could be the growth of renting in markets where turnover has historically been lower.
How the Bay Area Bounced Back From the Dot-Com Bust
The lesson for Bay Area homeowners: Homes priced toward the bottom end of the market offer less risk and are likely to recovery more quickly if the area’s housing market temporarily declines. For the rest of us: All market declines are not created equal. Even 35 months doesn’t seem like a long recovery when the alternative is a decade.
April Existing Home Sales: Slow Burn
Existing home sales seemed to defy gravity in recent months, but historically tight inventory is finally catching up with the market and is now very clearly weighing on sales.
April New Home Sales: Back to Earth
The 11.4 percent drop was the biggest month-over-month drop in new home sales since March 2015, and the first time this year that sales have undershot forecasts.
April Home Sales Forecast: New Home Sales Headed for 2007 Levels
In five of the past seven months, existing home sales have beat expectations -- but we're still predicting a drop. If our new home sales forecast is accurate, that would bring new homes sales in line with levels seen at the end of 2007.
