Key Takeaways from the April Existing Home Sales Report
Existing home sales increased 1.7 percent in April to 5.45 million units at a seasonally-adjusted annual rate (SAAR) according to the National Association of Realtors (NAR). It was their second consecutive monthly increase and the results beat expectations.
April Home Sales Forecast: Are Inventories Easing?
Low inventories continued to weigh on home sales in April although our forecasts suggest that market conditions may have eased slightly from March.
In Rapidly Growing Counties, Rigorous Regulation Intensifies Rising Rents
On their own, rents tend to rise more quickly in communities with the most restrictive local land-use regulations. Add rapid population growth to the mix in those same communities and the problem only gets worse.
The Price of Prestige: Tech Employees’ Living Costs in Silicon Valley & Seattle
Even the famously generous tech salaries in Silicon Valley are not enough to compensate for California’s expensive housing and high tax burdens, particularly relative to tech employees working in less expensive and lower-tax states like Washington.
Key Takeaways from the March New Home Sales Report
March new home sales fell 1.5 percent from February to 511,000 units (SAAR), according to the Census Bureau. Compared to a year earlier, March new home sales were up 5.4 percent, largely reversing the 4.8 percent decline recorded in February.
Key Takeaways from the March Existing Home Sales Report
Existing home sales regained some – though not all – of their momentum in March, rising 5.1 percent from February to 5.33 million units at a seasonally-adjusted annual rate (SAAR), according to the National Association of Realtors.
March Home Sales Forecast: All Eyes on Inventory
It’s difficult to increase the number of home sales when there aren’t many homes available to buy, and constrained by limited inventory, home sales have struggled to rise over the past year. We don’t expect that trend to ease much in March, according to our March home sales forecast, setting up a potentially difficult spring shopping season for home buyers.
Negative Equity Bubbling Up Alongside Crude in U.S. Oil Hubs
The effects of a slowing energy industry first showed up early last year in local rental markets, particularly in Texas. They are now starting to bubble up in purchase markets, too, as home values fall and negative equity rises in parts of the country heavily dependent on the energy and oil industries.
South Lake Union’s Tech Boom a Small Part of Seattle’s Rising Rents
Seattle’s South Lake Union neighborhood has become synonymous with the city’s rapidly evolving economic and social landscape. The neighborhood has attracted major employers, and cranes crowd the skyline of the former industrial district wedged between the city’s downtown and iconic Space Needle.
