January Case-Shiller Forecast: Expect Recent Acceleration in Home Price Growth to Continue
The acceleration in annual home price appreciation experienced in December in all three major Case-Shiller indices is expected to continue into January, according to Zillow’s January Case-Shiller forecast.
December Case-Shiller: Home Price Appreciation Accelerates Across the Board
As expected, annual appreciation in all three main Case-Shiller home price indices accelerated in December, with the U.S. national index climbing at a pace not seen in two and a half years. Home prices as measured by Case-Shiller rose year-over-year in all 20 principal markets covered by the indices.
Room for Rent: Exploring Rental Vacancy Rates in Urban, Suburban and Rural America
Rental vacancy rates in the country’s largest cities reached historic lows in 2016, even as rental vacancies remained stubbornly high in the nation’s rural communities, according to the U.S. Census Bureau.
Key Takeaways from the January New Home Sales Report
January new home sales rose 3.7 percent from December, to 555,000 units at a seasonally adjusted annual rate (SAAR), according to the U.S. Census Bureau. The rebound in new home sales was expected to some degree, given weak December sales which were likely impacted by unseasonably cold weather across much of the country. However, sales were weaker than the consensus forecast, suggesting a modestly disappointing report.
Rapid Reaction: January New Home Sales
Sales of newly built homes rose 3.7 percent in January from a weak December and 5.5 percent year-over-year, to 555,000 (SAAR), according to the Census Bureau's January new home sales data. Data from prior months, notably October and November, was revised downward.
January 2017 Market Report: The Rest Overtake the West
In January, U.S. median home value growth continued to accelerate year-over-year, the 22 month out of the past 23 in which annual growth was similar to or faster than the prior month. But while the national trend has remained roughly the same for two years, a slowdown in growth in a handful of pricey West Coast markets, particularly in California, has opened the door for more affordable markets in the South to top the list of the nation’s fastest-growing metros.
January Existing Home Sales Key Takeaways: Strong Start to 2017
Existing home sales rebounded strongly in January from after a weak, unusually wintry December, the fourth month in the past five in which existing sales beat expectations.
Rapid Reaction: January Existing Home Sales
January existing home sales data showed sales rising 3.3 percent from December, to 5.69 million (SAAR), the strongest month since February 2007 and the fourth month in the past five in which existing sales have outperformed expectations.
January Home Sales Forecast: Seasonal Adjustment Disorder
Tight inventory will continue to weigh on existing home sales, according to our January home sales forecast, while new home sales should rebound from a slow December. Looking farther ahead, shifting behaviors among home sellers, buyers and builders make it trickier to read definitive trends in seasonally-adjusted home sales data.
Q4 2016 Housing Affordability: Accelerating Home Values, Rising Rates Cause Rapid Deterioration
Rising mortgage interest rates and continued home value growth helped make mortgages less affordable by the end of 2016 than they’ve been in half a decade. And while mortgages remain “affordable” relative to historic norms, as growth in housing costs continues to outpace growth in wages, affordability should be expected to continue to rapidly deteriorate.
