Forecast for New and Existing Home Sales (August 2018)
Summer 2018 is poised to post a weak string of existing and new home sales when August data are released over the next two weeks: We expect both series to show month-over-month declines for the third month in a row.
There Are Fewer New Homes Being Built, and Their Size and Lots Are Smaller
The square footage of the typical new home decreased slightly in 2017 from 2016 – from 2400 square feet to 2300 square feet – continuing a gradual decline that has lasted for much of this decade.
A Decade After Housing Bust, Recovery Is a Story of Location
Twenty-one of the top 35 metros have more than recovered from the bust. San Jose and Denver lead the recovery with huge gains, while Las Vegas, Orlando and Chicago have been the slowest to recover.
Robust Jobs Data Push Mortgage Rates to Highest Levels in More Than a Month
Mortgage rates rose for the third consecutive week, riding an exceptionally strong jobs report to their highest levels in over a month.
Lower-Income Renters Pay Almost 2/3 of Their Income on Even Modest Apartments
Mortgage affordability – the share of median household income needed to afford a typical U.S. home – reached 17.5 percent in the second quarter 2018, higher than it’s been in nine years.
Strong Economy, Tax Cut News Push Mortgage Rates to Highest Levels in Weeks
Mortgage rates rode strong manufacturing data and news of potential tax cuts to their second straight week of gradual gains, reaching their highest levels in almost a month.
Long-Time Homeowners in Pricey Places Benefit Most from Potential Changes to Capital Gains Taxes
Long-time homeowners in pricey communities where home sales more commonly net very large capital gains would be the primary potential beneficiaries of this change.
Notable Numbers From August 2018
What are the "hidden" costs of homeownership? Where do renters rule? How does regulation affect home values? Check out this by-the-numbers roundup of the latest work from Zillow Research.
Housing Market Showing Few Ill Effects from Tax Reform
Of the handful of housing-specific changes made in 2017 as part of tax reform efforts, just one – capping the SALT deduction – has had an impact on housing.
How Much Space Can You Get for a Dollar?
For the typical U.S. home, a dollar buys 1.1 square inches of space. In Los Angeles, it's just 0.3 inches. In Memphis, 2.5 inches. Here's a graphic representation of how much space a single dollar would buy across the country.
