October Home Sales Forecast: Sooner or Later, Gravity Wins
Home sales have been surprisingly robust in 2016, despite steadily contracting for-sale inventory. Existing home sales have grown on average by about 1.1 percent each month in 2016, even as inventory has fallen by about 1.7 percent each month over the same time. Higher velocity – homes spending less time on the market and buyers spending more – has allowed the market to seemingly defy gravity. But sooner or later, gravity wins.
Q3 2016 Housing Affordability: Renting More Affordable Than It’s Been in Two Years
Incomes are growing, and growth in rents is slowing – leading to a (very) modest, but welcome, improvement in overall U.S. rental affordability in the third quarter.
Going Green: Cities with Large Carbon Footprints Are Hot Spots for Eco-Friendly Home Tech
As it turns out, cities with the most homes for sale that advertise eco-friendly amenities – think solar panels, double-paned windows and energy-efficient appliances – are also the cities that need those amenities most, because their carbon footprints tend to be larger.
Rapid Reaction: October Jobs Report
The number of nonfarm U.S. jobs rose by 161,000 in October, versus consensus expectations for a gain of 175,000 jobs according to the Bureau of Labor Statistics' October jobs report.
Getting a Mortgage Was Easier Overall in 2015, But Remains More Challenging for Minorities
Newly released mortgage application, approval and denial data from the Home Mortgage Disclosure Act show that getting a mortgage continued to get somewhat easier in recent years, a boon to buyers otherwise concerned with fast-moving inventory and intense competition. But despite improvement overall, there remain stark differences in mortgage denial rates and the ease of getting a mortgage between whites and minorities.
It’s True: The Country’s Most Expensive Housing Markets Are Creating the Most Jobs
However you look at it, the nation’s most expensive housing markets are home to a growing share of the nation’s jobs.
How Affordable is Housing in Your Congressional District?
In looking at housing affordability across the nation’s congressional districts, we found home values and rents tend to be higher along the coasts and in denser, urban communities, regardless which party represents a given community in Congress.
Value Add: How the Gap Between the Bottom and Top of the Housing Market is Widening
The gulf between the housing haves and have-nots has widened considerably over the past two decades, as top-tier homes gained more value than less valuable, more entry-level homes and bottom tier homes in general lost more of their value during the housing bubble bust.
Q3 2016 Homeownership Rate: Signs of a Turning Tide?
An encouraging quarterly uptick in the homeownership rate in Q3, and a close examination of its core driving factors, suggests the decade-long streak of annual homeownership declines may be on the cusp of reversing.
Rapid Reaction: Q3 2016 Homeownership Rate
The Q3 2016 homeownership rate ticked up to 63.5 percent from 62.9 percent in Q2 on the back of strong owner household formation, but remains down slightly from Q3 2015, according to the U.S. Census Bureau.
