September Existing Home Sales: Rapid Reaction
Some of today’s sluggishness in existing home sales can be blamed on the hurricanes that hit the Southeast in September, but there are clearly more fundamental changes at play as well.
Rents Drop Year-Over-Year for the First Time Since 2012 (September 2018 Market Report)
The September drop will come as good news to renters who are on a budget, hoping to save a down payment, or just want a break from rent increases.
Mortgage Rates Remain at Highest Levels in Seven Years Despite Stock Market Commotion
Rates experienced a modest increase on Wednesday, following the release of Federal Reserve minutes detailing its commitment to continued gradual rate hikes into next year.
Forecast for New and Existing Home Sales (September 2018)
Zillow expects September existing home sales to fall 0.2 percent from August, to 5.33 million units at a seasonally adjusted annual rate. New home sales should rise 1.4 percent from August, to 638,000 units (SAAR).
America’s Youngest Adults Have the Most Confidence in Real Estate
Survey data collected over the past two years shows the nation’s youngest residents are also the most bullish on real estate.
A Tweak to Vouchers Allows Low-Income Renters Access to High-Income Areas
The new rule increases the overall metro-wide share of rental listings affordable to voucher holders in all 23 metros immediately affected by the new rule.
Rising Mortgage Payments Eclipse Home Value Gains
The typical mortgage payment in August was up 15.4 percent, or $118 a month, from a year earlier, even though home values gained just 6.5 percent in that same period.
Love It or Leave It? Americans Prefer Renovations
Given a choice between spending a fixed amount on a down payment for a new home or fixing up their current home, 76 percent of Americans will choose renovation.
Strong Employment Data and Economic Sentiment Thrust Rates to Seven-Year Highs
Propelled by positive employment and payroll data, along with the underlying strength of the U.S. economy, mortgage rates skyrocketed this week to their highest levels in more than seven years.
