September Home Sales Forecast: Sales Will Rebound, But Inventory and Hurricane Headwinds Linger
Despite low interest rates, which might otherwise help boost sales, tight inventory is clearly weighing on transactions. Additionally, Hurricane Harvey posed an additional, if modest, headwind to sales nationwide in August. But in September, home sales should rebound, if only modestly.
Mortgage Rates Down on Weak Inflation Data and Fed Speculation
The prime 30-year fixed mortgage rate quoted on Zillow fell last Friday by about 5 basis points to 3.66 percent, erasing much of the increase in rates reported the previous week and took rates to their lowest levels of the month.
Climate Change and Homes: Who Would Lose the Most to a Rising Tide?
Nationally, 1.9 million homes are projected to be literally underwater by the year 2100 if the oceans rise six feet. Thirty-nine percent are valued in the top third of homes in their metros, representing the potential loss of $597 billion in high-end real estate. A third (32 percent) are in the bottom tier of home values in their metros, amounting to a potential $123 billion loss for low-income homeowners.
Are Coastal Areas Ready for Rising Seas?
With 1.9 million homes projected to be underwater if seas rise 6 feet, not all communities are prepared.
Buyers With Lower Down Payments Make More Offers
The amount of a buyer’s down payment can come into play when other factors in competing bids are a wash. On average, higher down payment buyers make 1.9 offers, while low down payment buyers make 2.4 offers.
California Wildfires Force Thousands to Find Housing in Already Tight, Pricey Region
The California wildfires raging throughout Napa Valley wine country have inflicted millions of dollars of property damage in some of the nation’s priciest communities and forced thousands of displaced families to seek new living arrangements in already limited local real estate markets.
Here’s Where Housing Assistance Falls Short
Only about a quarter of people who are eligible for federal housing assistance nationwide actually receive it. The largest form of assistance is Housing Choice Vouchers -- and in many markets where rents are rising quickly, voucher holders scramble for places to live, because the value of their vouchers isn’t keeping pace with market realities.
Proposed Health Care Changes: Short-Term Gains, Long-Term Pains?
In 24 of the country’s 25 largest metro areas, low-income renters spend more than 45 percent of their incomes on rent. Against that backdrop, the rising cost of health-care premiums can be hard to bear. Whatever short-term savings low-income households might gain from newly proposed changes, the unknown is how much they might pay in the long run if they become sick.
Mortgage Rates Rise on Jobs Data, Fall on Fiscal Uncertainty
Friday’s September Jobs Report from the Bureau of Labor Statistics was primarily responsible for a sharp spike in rates last week.
Quiz: Which Cities Favor These Nine Terms in Luxury Rental Listings?
Looking for a concierge, a jetted tub or a rooftop deck? Here are the cities where you're most likely to find them, based on their luxury rental listings.
