November Case-Shiller Forecast: Expect a (Very) Modest Slowdown
After several months in a row of accelerating growth in U.S. home prices, the pace of appreciation is expected to slow somewhat in November, according to Zillow’s November Case-Shiller forecast.
October Case-Shiller: U.S. Housing Market Continues to Accelerate
The national housing market is continuing to put last decade’s recession in the rearview mirror, according to October Case-Shiller data, accelerating from last month in line with expectations and continuing to reach new highs.
Rapid Reaction: November New Home Sales
November new home sales rose 5.2 percent from October and 16.5 percent from a year ago, to 592,000 units (SAAR) -- the second-highest level reached in 2016, according to the U.S. Census Bureau.
November 2016 Market Report: Home Values Growing at Fastest Pace Since 2006
As 2016 comes to a close, annual growth in rents has stabilized, the number of homes listed for sale is at its lowest point on record and annual home value growth is accelerating. Looking ahead into 2017 and beyond, all three of these trends are likely to continue influencing each other and the market as a whole.
Rapid Reaction: November Existing Home Sales
November existing home sales rose 0.7 percent from October and were up 15.4 percent from a year ago, the third straight monthly increase, according to the National Association of Realtors.
November Home Sales Forecast: Rising Rates, Cooling Markets?
November home sales data will be a critical test of the resiliency of the American housing market. After falling steadily for much of the past two years, mortgage rates rose in mid-November as markets responded to the results of the U.S. presidential election. By the end of the month, rates were about 50 basis points above where they stood in October.
Q3 2016 Negative Equity Report: Bottom Heavy
Negative equity continues to recede as home values keep rising and the market inches ever closer to fully, finally regaining all value lost during the recession. And crucially, as home value growth among less-expensive homes outpaces growth at the higher end, negative equity is falling at a faster clip among entry-level homes – the exact kinds of homes sought by all-important first-time home buyers.
Mortgage Rates in 2016: Gradually, Then Suddenly
At the start of 2016, expectations were high for mortgage rates. Following the Federal Reserve Board’s December 2015 rate hike, the first in a decade, financial markets expected mortgage rates to steadily inch higher with a series of three to four more Fed rate hikes over the year. Instead, mortgage rates followed the famous path to bankruptcy described by Ernest Hemingway: They moved gradually, then suddenly.
Will More Oil Prove a Boon or Burden to West Texas?
Last month, geologists announced the discovery of an oil field in West Texas that is likely the largest ever found in the United States – typically the kind of announcement that could be expected to reap big economic dividends for local communities, including a big boost to home values. But in today’s economic and geopolitical climate, the presence of the oil itself will likely matter less to the local economy than global markets’ reaction to it.
Experts: Short-Term Home Rentals Have Little to No Impact on Housing Affordability
The growing presence of short-term room and home rental services like Airbnb and HomeAway are not impacting the overall supply or affordability of rental housing in a meaningful and large way, according to experts, though some smaller effects may be felt in certain markets or segments.
