Key Takeaways from the June Existing Home Sales Report
June existing home sales moved decisively upward, defying expectations for a small decline, rising 1.1 percent to 5.57 million units at a seasonally-adjusted annual rate (SAAR) according to the National Association of Realtors (NAR).
Rapid Reaction: June Existing Home Sales
Sales of existing homes were unexpectedly strong in June, edging up for the fourth consecutive month to a nine-year high and defying expectations for a modest monthly decline.
Chip Case: A Visionary, and a Friend
I am deeply saddened by the news of the passing of Karl “Chip” Case. Chip was truly one of a kind, a man at once generous, brilliant and curious.
June Home Sales Forecast: Are the Tables Turning for Home Sales?
For much of the housing recovery, economists (ourselves included) have puzzled over diverging trends in existing and new home sales: Sales of existing homes were growing strongly, while sales of new homes remained stubbornly low. But now the tables appear to be turning.
A Wealth of Problems: How the Housing Bust Widened the Rich-Poor Gap
The gap between the rich and poor in the U.S. was already wide prior to the Great Recession, and the housing bust and foreclosure crisis that followed only made it worse.The gap between the rich and poor in the U.S. was already wide prior to the Great Recession, and the housing bust and foreclosure crisis that followed only made it worse.
Housing Highs & Lows: How the Home Affordability Gap Between the Rich and Poor is Widening
Buying a home with a mortgage got slightly more affordable to start of the year, especially compared to renting. But while mortgage affordability overall has improved somewhat, for low-income Americans looking to buy even a modest home, affordability has actually gotten worse – at the same time as it improved for those earning more.
Negative Equity Falling Faster Among Less-Expensive Homes
The overall negative equity rate among bottom-tier homes nationwide was 21.8 percent in Q1, compared to 7.3 percent among top-tier homes, 11.4 percent for middle-tier homes and 12.7 percent for all U.S. homes.
As Rents and Home Values Rise in Many Markets, Is Tech Industry Really to Blame?
There is certainly a reason that many people associate the tech industry with pricey and unaffordable housing. In metropolitan areas with a large share of tech workers, rents and home values are considerably higher. But the reality is that expensive housing often follows in areas where a good share of individuals are earning high wages – whether they work in tech, finance, law, or any number of other industries associated with hefty paychecks.
All Ages Welcome: Why Living Alone Isn’t Just for America’s Young and Old Anymore
After increasing steadily for decades, the share of Americans living alone has been essentially stable over the past five years or so, and has only recently begun to tick up again.
May Case-Shiller Forecast: April’s Modest Monthly Slowdown Should Continue
Zillow’s May Case-Shiller forecast calls for monthly growth in the 10- and 20-city indices falling from April while annual growth stays flat.
