June New Home Sales: Builder Slow Down Meets Declining Sales
A June decline in new home sales was to be expected given recent market shifts and reported slump in homebuilder sentiment, but the reported value of 590,000 new home sales in June was way under consensus.
June Existing Home Sales: Existing Home Sales Slip Further as Market Rebalances
As mortgage rates stay elevated and inflation burns on, affordability is still top of mind for many would-be home buyers, keeping demand on the sidelines and constricting home sales further than expectations suggested.
April 2022 Case-Shiller Results & Forecast: Putting on the Brakes
Earlier this spring, with inventory just beginning to sprout up from its historic low, demand for homes began to slip amid rising prices and mortgage rates, slightly edging April home price growth down from the previous record to 20.4%.
May New Home Sales: Buyers Resilience Bumps Up New Sales
Newly constructed home sales ticked up from revised April numbers in May, beating the consensus.
May Existing Home Sales: Affordability Pumps the Brakes on Home Sales
A sharp pullback in sales is the latest evidence that waning home affordability is forcing the housing market to pump the brakes.
Housing Affordability Hits 15-Year Low as Prices, Mortgage Rates Rise (May 2022 Market Report)
Mortgage payments are higher than rent in 45 of the 50 largest U.S. metros, up from 22 in 2019.
Zillow’s Most Popular Markets of Early 2022: Pricey Suburbs Top the List
Zillow’s most popular market of early 2022 is Woodinville, Washington, leading a list of fast-growing suburbs as the most in-demand places of the first three months of the year.
The Housing Market is as Competitive as Ever Despite Soaring Costs (April 2022 Market Report)
Despite rising home values and mortgage rates, the housing market is as competitive as ever. Buyer demand has been strong enough to keep the market moving at a record pace, even after a massive spike in mortgage rates.
