May Housing Starts: Bottleneck of Homes Finding its Way to Market Amid Affordability Woes
With a very competitive housing market this spring, builders continued to keep their pace of housing starts above levels not seen in the decade prior to 2020.
Mortgage Rates Shoot Higher on Inflation Report
Rates were gradually increasing throughout the week, then shot higher on Friday with the Consumer Price Index release. The CPI report showed increasing inflation in May, rising from 8.3% in April to 8.6%, higher than market expectations.
In Q1, homeowners sold 12,652 homes using an iBuying service. iBuyer market share was 1.3%.
Mortgage Rates Increase as Labor Markets Remain Tight
Mortgage rates increased last week after three weeks of declines. Payroll and unemployment data showed labor markets remain extremely tight. Manufacturing and services activity data were strong, but delivery delays suggested continued supply chain issues.
Housing Market Hot but Not a Bubble, Economists Say
Although home prices continue to break growth records, a panel of housing experts and economists surveyed by Zillow® does not believe the market is in a bubble. The latest Zillow Home Price Expectations survey polled more than 100 experts from academia, government and the private sector to gather their opinions on the state of the housing market and future growth, inflation forecasts and recession risks.
Mortgage Rates Continue Decline as Fed Attempt to Tame Inflation
Mortgage rates continued to decline last week. Expectations for how the Federal Reserve will attempt to tame inflation while avoiding a recession are being priced into mortgage rates today.
March 2022 Case-Shiller Results & Forecast: Despite Rising Costs, Demand Stays Strong
Demand for homes has stubbornly kept ahead of supply this spring, even in the face of rapidly rising costs. This imbalance between supply and demand for homes this spring has been the key driver in home price growth that continues to set records month after month.
June is Pride Month, with a goal of raising awareness and increasing efforts to achieve equal opportunities for LGBTQ+ Americans. This month and every month, Zillow Research is committed to shining a light on housing market challenges and opportunities that disproportionately affect LGBTQ+ home buyers, sellers and renters.
Mortgage Rates Decline Second Week in a Row
Mortgage rates declined for the second week in a row.While strong retail sales figures drove rates higher early in the week, rates declined later on fears of recession. Large retailers reported disappointing earnings last week and markets reacted with declines in equity prices and “risk off” trades, driving rates lower.
April New Home Sales: Mortgage Rates Stunt Growth
New residential sales declined considerably in April – marking the lowest annualized rate since April 2020.
