April Existing Home Sales: Slow Burn
Existing home sales seemed to defy gravity in recent months, but historically tight inventory is finally catching up with the market and is now very clearly weighing on sales.
Rapid Reaction: April Existing Home Sales
The April existing home sales report adds fuel to a fire we know has been burning for several years now: Home buying demand is incredibly high, and the supply of homes to buy is incredibly low, which serves to push prices up and only piles on the frustration for buyers struggling to find an appropriate home at the right price.
Low-Income Housing Tax Credits: Why They Matter, How They Work and How They Could Change
As markets struggle to meet increasing demand and provide sufficient affordable housing, the White House and Congress have made proposals that could lower the value of Low-Income Housing Tax Credits – the main tool Uncle Sam has to help get that kind of housing built.
April New Home Sales: Back to Earth
The 11.4 percent drop was the biggest month-over-month drop in new home sales since March 2015, and the first time this year that sales have undershot forecasts.
Rapid Reaction: April New Home Sales
April new home sales fell 11.4 percent from a strong March, to 569,000 units (SAAR), according to the U.S. Census Bureau. Sales of new homes were up 0.5 percent from a year ago. A dramatic decline in sales activity in the West largely drove the big monthly drop, accounting for roughly 2/3 of overall the national fall.
April Home Sales Forecast: New Home Sales Headed for 2007 Levels
In five of the past seven months, existing home sales have beat expectations -- but we're still predicting a drop. If our new home sales forecast is accurate, that would bring new homes sales in line with levels seen at the end of 2007.
Rents Are Climbing Faster in Suburban Than Urban Areas
For the first time in four years, suburban rents are rising faster than rents in urban areas. The trend is more pronounced in booming markets where rent affordability is an issue.
Transfer Taxes: A Rude Surprise for Some Home Sellers
These taxes are a commonly overlooked hidden cost to selling, and they vary considerably across markets. For example, transfer taxes on a median-valued home in Chicago total $2,501. If you live just outside the city limits, they're only $313.
An Inventory Quandary: Three Theories for Why People Are Moving Less
The shift from single-family homes being owned to being rented has likely been an important contributing factor to low turnover. As rental homes, these properties are put up for sale less frequently – creating more options for renters and fewer for buyers.
Despite Rising Costs, Most Renters Feel Secure in Their Homes
Most U.S. renters – including lower-income renters – feel confident they will be able to stay in their current homes as long as they want. Lower-income renters in Los Angeles, San Jose and Dallas feel least secure in their ability to stay long-term.
