What the Homeownership Rate Really Tells Us About U.S. Housing
A hard half-decade after the bottom of the housing bust, several fundamentals of the U.S. housing market point to a recovery that is nearly complete: Home values in many markets are near or even above pre-recession levels, demand for homes is high and sales are up. But one key piece is missing. The U.S. homeownership rate – at all-time highs just a decade ago – remains stuck today at a 50-year low.
Own-to-Rent: The Foreclosure Crisis and Single-Family Home Rentals
Once strongly associated with homeownership, a growing share of single-family homes are now being rented. And by extension, more of the country’s rental market is now composed of single-family homes.
Older Millennials Driving Increase in Young Adults Living at Home
Over the past decade, there has been a sharp increase in the share of young adults living with their parents. But lately, the increase isn’t necessarily because the youngest adults aren’t leaving the nest – instead, it’s being driven their older brothers and sisters in their late 20s and early 30s.
Rapid Reaction: Q2 2016 Homeownership Rate
The U.S. homeownership rate slipped again in Q2, the second straight quarterly decline after inching up at the end of 2015.
Zillow Rent Index by Tier: Low-End Demand, High-End Supply
As rent overall continues to grow, rents are growing faster across the board among low-end apartments as demand for more affordable rentals stays hot. But rather than build more units at the bottom end of the market to meet this demand, apartment developers have instead focused their efforts on adding more supply at the high end.
June Case-Shiller Forecast: Expect a Third Straight Monthly Decline in 10- and 20-City Indices
May Case-Shiller data showed modestly slower growth largely in line with expectations, with seasonally adjusted home prices falling for two months in a row on the 10- and 20-city indices – a rare occurrence since the recovery began in earnest. Looking ahead, Zillow’s June Case-Shiller forecast calls for more of the same, with seasonally adjusted prices in the 10- and 20-city indices set to fall for a third straight month, while annual growth stays largely flat.
May Case-Shiller: Prices Fall for Second Straight Month on 10 & 20-City Indices
May Case-Shiller data showed a slight slowdown in home price growth, as expected, with seasonally adjusted prices falling somewhat from April on the 10- and 20-city indices.
Key Takeaways from the June New Home Sales Report
June new home sales rose 3.5 percent from May to 592,000 units at a seasonally adjusted annual rate (SAAR), their highest level since February 2008. Over the year, new home sales are up 25.4 percent.
Rapid Reaction: June New Home Sales
Today's June new home sales data is undoubtedly good news for the market, with sales reaching their highest level since February 2008, and a sign builders are fully getting back in the game.
Q2 2016 Market Report: Tight Inventory Leads to a Need for Speed
It’s well known that a lack of homes for sale is limiting home buyers’ choices this home shopping season. But this inventory shortage is also contributing to another home buying hurdle – along with limited options, buyers also have increasingly limited time to make a decision on a home purchase.
