Zillow’s Most Popular Markets of Early 2022: Pricey Suburbs Top the List
Zillow’s most popular market of early 2022 is Woodinville, Washington, leading a list of fast-growing suburbs as the most in-demand places of the first three months of the year.
April Existing Home Sales: Leveling the Playing Field
Tight inventory and decade-high interest rates were likely weighing on the minds of prospective buyers in April.
Zillow Home Value and Sales Forecast: May 2022
Zillow’s housing market outlook has been revised down from April. Zillow forecasts 11.6% home value growth over the next 12 months (May 2022-April 2023). 5.73 million existing home sales are expected in 2022, according to Zillow’s latest forecast, a 6.4% decrease from 2021.
The Housing Market is as Competitive as Ever Despite Soaring Costs (April 2022 Market Report)
Despite rising home values and mortgage rates, the housing market is as competitive as ever. Buyer demand has been strong enough to keep the market moving at a record pace, even after a massive spike in mortgage rates.
Mortgage Rates Decline Slightly But Hikes Expected
Mortgage rates declined slightly last week, but are still more than two percentage points higher than a year ago.
April Housing Starts: Slowly Boosting the Housing Stock
In the face of rising interest rates and continued supply chain disruptions, builders in April narrowly missed maintaining the strong pace of housing starts achieved in recent months.
Home Values Are Growing the Most in Suburbs, but Demand May Be Shifting Back Toward City Centers
The typical suburban home gained more value over the past year than the typical urban home. That is a reversal from previous norms and from the first 15 months of the pandemic.
Mortgage Rates Rise As Markets Reverse Course
Mortgage rates increased last week, reaching heights we haven’t seen in more than a decade. While markets reacted positively to the Federal Open Market Committee action last week, markets reversed course in recent days to drive rates higher. Inflation, supply chain challenges and labor issues continue to weigh on the minds of market watchers, and may force the Federal Reserve to take more hawkish actions to tame inflation than what is currently being signaled
Annual home price appreciation has accelerated to record highs in each of the past 12 months, since surpassing the mid-2000s housing bubble high water mark that run of records is likely to end soon, as the housing market passes through an inflection point. That doesn’t mean a housing crash is coming or even that prices will fall, but a rebalancing would be welcome news for buyers, especially those buying their first home.
Mortgage Rates Fall Slightly, Economic Data In Line With Expectations
Mortgage rates fell slightly last week. Economic data releases last week were largely in line with expectations, with GDP declining slightly in the first quarter, price indicators showing continued inflation and jobless claims highlighting continued tightness in labor markets.
