July Case-Shiller Forecast: Slowdown Coming in Home Prices
Following months of record highs in the Case-Shiller U.S. National Index for home prices, July is expected to bring a slowdown.
June Case-Shiller Results: Climbing Faster Than Forecast
The market continues to put the worst effects of the Great Recession in the rear view.
For Many Low-Income Households, Even Low-Valued Homes Aren’t Affordable
Lower-income households spend 23 percent of their incomes on mortgages for homes valued in the lower third -- more than twice the 11.1 percent that a typical high-income homeowner pays for a home valued in top third of homes nationally. The inequality is worse in pricey coastal markets.
July Existing Home Sales: Stagflation
It was the first time since late 2015 that sales have declined for two months in a row. There have been only five months in the past 35 years (the data series starts in June 1982) when there were fewer single-family homes on the market.
Rapid Reaction: July Existing Home Sales
July existing home sales fell 1.3 percent from June to 5.44M units, the lowest level since August 2016, according to the National Association of Realtors.
July 2017 Market Report: Almost Half of U.S. Homes Are Worth More Now Than Before the Bubble
In seven metro areas, more than 90 percent of homes have exceeded their pre-recession peak values.. But only 0.4 percent of homes in Las Vegas is worth more than its pre-recession peak value.
July New Home Sales: Surprising Drop, But With Caveats
New homes sales declined 9.4 percent from June to 571,000 units at a seasonally adjusted annual rate (SAAR), according to the U.S. Census Bureau. The number of new homes for sale increased 1.5 percent to 276,000 units (SAAR), its highest level since June 2009. Unlike last month when spec homes were a major driver, the July increase was driven by completed or under-construction new homes.
Rapid Reaction: July New Home Sales
July new home sales fell 9.4 percent from June and 8.9 percent from a year ago, to 571,000 -- the lowest level since December 2016.
Highly ‘Favorited’ Homes on Zillow Sell Faster and for More Money
Favorites are a leading indicator of market competitiveness: Homes that accumulate the most favorites -- in the 80th percentile of their metro or higher – sell faster than 64 percent of the homes in their area. Those same highly favorited homes sell for a higher sale-to-list-price ratio than most other homes in their metro area.
July Home Sales Forecast: Inventory Plateau Leaving Buyers High and Dry
We expect existing home sales to edge slightly lower, while new home sales will fall more sharply.
