From the share of homes in Ocean City, N.J., that are vacation homes (50.9 percent) to what year experts largely expect the next recession will begin (2020), these are the notable numbers from May 2018.
Rent Control: A Political and Policy Conundrum
Despite the idea’s popularity among the general public, there are strong reasons to take a cautious tack when it comes to rent control.
Global Politics Send Investors to Safety, Pushing Down Mortgage Rates
Mortgage rates were flat for most of the past week – holding steady at their highest levels since September 2013, according to Zillow Mortgages data. They edged lower late Wednesday after meeting minutes from the Federal Open Market Committee (FOMC) were released.
Negative Equity Dips Below 10 Percent for the First Time Since the Market Bottom
In the depths of the housing crisis – late 2011 and early 2012 – the share was 31 percent of homeowners with a mortgage. In the fourth quarter 2017, it dropped to 9.1 percent, the first time it’s fallen below 10 percent since the bottom of the market.
Republicans, Democrats Predictably Differ on Impact of Tax Reform on Housing
Democrats generally said the December 2017 tax reform legislation made it more difficult to buy a home while Republicans were more likely to say the law made it easier, according to the most recent Zillow Housing Aspirations Report.
April Existing Home Sales: Struggling to Launch
Existing home sales have been essentially flat since fall 2016, seemingly struggling to lift off the plateau where they have held for the past year and a half. Existing home sales are now down 1.4 percent year-over-year.
Rapid Reaction: April Existing Home Sales
April existing home sales fell 2.5 percent from March and 1.4 percent from a year ago, to 5.46 million units (SAAR), according to the National Association of Realtors. Sales fell compared to March in all four major regions.
Home Values Climbing at Fastest Rate in 12 Years (April 2018 Market Report)
The median U.S. home value rose 8.7 percent to $215,600 in April, the fastest year-over-year climb since June 2006, when the housing market was slowing from its bubble-driven, double-digit growth.
After Calm Week, Rates Drop on Fed Meeting Minutes
Mortgage rates were flat for most of the past week – holding steady at their highest levels since September 2013, according to Zillow data. They edged lower late Wednesday after meeting minutes from the Federal Open Market Committee (FOMC) were released.
