Zillow Market Pulse: August 27, 2021
Home sales figures provided the housing market two solid wins in July and indicate that buyers are responding to for-sale inventory increases.
Mortgage Rates Rise on Potential Monetary Policy Shifts
Mortgage rates rose over the last seven days as markets geared up for potential announcements from the Federal Reserve later this week.
July New Home Sales: Build it and They will Come
New home sales crept up in July from June, the first monthly since March and proof that demand for new homes can overcome supply-side difficulties.
July Existing Home Sales: Signs of Balance
July existing home sales were up 2% from June and 1.5% from July 2020, to 5.99 million units (SAAR), according to the National Association of Realtors.
Rent Prices Soar Beyond Pre-Pandemic Projections (July 2021 Market Report)
Typical U.S. rent has pushed beyond where they are projected to have been if pre-pandemic trends had held.
Mortgage Rates Stay Flat as Investors Wait on Fed
Mortgage rates were flat this week as investors stood pat, waiting for more signs dictating the economy’s path forward and potential key decisions made by the Federal Reserve.
July Housing Starts: Backlogged
Limited access to key building supplies has upped prices for materials and translated to higher list prices for would-be homebuyers.
Share of Homes Sold Way Over List Doubles
The number of homes selling for huge sums over list price has risen rapidly since the start of the year. More than twice as many home sold for $500,000 or more over their original list price in Q2 than in Q1.
Zillow Market Pulse: August 13, 2021
Consumer sentiment is plunging amid concerns and frustrations about the Delta variant, and mortgage rates are likely to reverse because of the sentiment report.
Zillow July 2021-July 2022 Home Value and Sales Forecast
Zillow expects home values to grow 12.1% between July 2021 and July 2022, and to end 2021 up 20.3% from December 2020.
