June Case-Shiller Results and July Forecast: Phoenix Posts Largest YoY Gains
Would-be buyers stand with pre-approved mortgages in hand. However, they’ve become unwilling to pay escalating prices for the relatively low inventory of homes that are on the market and instead are making sellers wait and even drop list prices.
Starting Salaries for Teachers Don’t Pay the Rent
For many teachers, back to school means a return to their regular jobs from summer gigs that supplement their incomes and help them -- literally -- pay the rent. Nationally, the median market-rate rent takes a staggering 46.8% of a starting teacher’s salary.
New Home Sales (July): A Step Back, But Still on Pace for Best Year Since 2007
Today’s figures are on a host of monthly revisions that together indicate a robust trend. Sales are now up 4% year-to-date, with 2019 on pace to be the best year for new home sales since 2007.
Mortgage Rates Split with Treasurys, Stay Flat This Week
Mortgage rates barely budged this week, straying from their typical pattern of moving with bond yields.
Drought-Resistant Terms Doubled in California, Arizona Listing Descriptions
Mentions of drought-resistant features in home listing descriptions roughly doubled in California and Arizona during the recent drought, and have yet to return to pre-drought levels.
July Existing Home Sales: Far From Stellar
Despite today's win, sales are falling short of the stellar performance you'd expect from a market with enticing mortgage rates and strong employment.
Forecasts for Existing and New Home Sales (July 2019)
With the busy spring shopping season come and gone, it’s unlikely that we’ll see a sharp increase in existing home sales volume.
July Housing Starts: Still Languishing
Consumers stand ready to snap up new homes, particularly at the entry level, and mortgage rates are cooperating -- but new construction is not.
Home Value Growth Continues Steady Normalization as Inventory Creeps Up (July 2019 Market Report)
The annual pace of U.S. home value growth slowed for the seventh straight month in July as the market continues to normalize and slowly find more balance between home buyers and sellers.
