Rapid Reaction: February New Home Sales
February new home sales fell 0.6 percent from January, to 618,000 units (SAAR), the third straight month of declines compared to the month prior. New home sales were up 0.5 percent year-over-year.
Rent Growth Accelerating at Fastest Pace in 21 Months (February 2018 Market Report)
For the seventh month in a row, Sacramento led major metro areas in rental growth. Meanwhile, the San Jose metro area posted astonishing annual home value growth of 26.4 percent, reaching a median of $1.25 million.
Mortgage Rates Rebound to Four-Year Highs
The Federal Open Market Committee said today it's increasing its benchmark short-term interest rates, and it released quarterly projections that suggest a slightly faster pace of rate hikes over the next two years than had been anticipated.
Seattle Commuting Costs: Sacrificing 15 Minutes Can Save Thousands
Seattle commuting costs amount to much more than the price of gas or a monthly bus pass. The value of a typical Seattle metro home that is a 15 minute commute from the city center is $962,000, compared to $632,000 for the same home located a 40-minute commute away.
Rapid Reaction: February Existing Home Sales
February existing home sales rose 3 percent from January and 1.1 percent from a year ago, to 5.54 million sales (SAAR), according tot he National Association of Realtors. The median price of existing homes sold last month rose 5.9 percent from a year ago, to $241,700, the 72 straight month of price increases.
Home Values and Rents by Congressional District
Housing costs, both home values and rents, rose nationwide and in a majority of Congressional districts in 2017. Median home values rose last year in 421 of 426 (99 percent) total Congressional districts analyzed by Zillow; rents were up in 295 of 434 (68 percent) total districts analyzed. Use our tool to discover housing costs in your Congressional district.
February Home Sales Likely Held Back by Wintry Weather, Rising Rates, Limited Listings
Persistently and relentlessly tight inventory, rising mortgage interest rates and a series of nasty winter storms likely combined to keep February home sales activity muted, especially sales of existing homes.
In Wake of California Drought, Listings Touting Water-Efficiency Evaporate
A relative flood of home listings advertising water-conservation features in the Golden State during the worst of the California drought appears to have dried up somewhat with the rains’ return.
Most Affordable Markets for Homebuyers
Markets that seem affordable, because their median home price is lower than other areas, may actually be unaffordable for people who live there. Oklahoma City, Pittsburgh and Indianapolis top the list of metros that pass a more realistic test.
