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.
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.
