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.
Inventory rose substantially in March, a welcome return to seasonal norms for the housing market.
Experts Predict at Least Two More Years Before Housing Inventory Climbs to Pre-Pandemic Levels
The housing market is expected to return to pre-pandemic, 2019 norms — at least in terms of inventory and the share of purchases made by first-time home buyers — by 2024, according to a panel of housing market experts polled in the latest Zillow® Home Price Expectations Survey.
Leap Years: How the Housing Market Soared During the Pandemic (February 2022 Market Report)
Inventory is down by almost half from two years ago, helping push housing costs up throughout the transformative, two-year pandemic era.
A 1-2 Punch: Why Monthly Mortgage Payments are Rising at their Fastest Pace in Decades
The monthly mortgage payment on the typical U.S. home rose 31% in the last year – the largest one-year climb in at least 22 years.
Dearth of Inventory, Price Hikes Pose Challenges for Shoppers (January 2022 Market Report)
Home value appreciation accelerated again in January, to a record 19.9% annual gain, while inventory plunged below 900,000 listings -- a record low.
Zillow January 2022-January 2023 Home Value & Sale Forecast
Zillow expects annual home value growth to continue to accelerate through the spring, peaking at 21.6% in May before gradually slowing.
146 New U.S. Cities Gained Million-Dollar Status in 2021, the Most Ever in a Single Year
There are now 481 cities nationwide in which the typical home value is at least $1 million, and almost half (44%) are in California.
U.S. Housing Market has Doubled in Value since the Great Recession, Gaining $6.9 Trillion in 2021
The total value of private residential real estate in the U.S. grew by a record $6.9 trillion in 2021, to $43.4 trillion – more than double the level from a decade ago.
Zillow’s Open Market Home Price Appreciation Forecasting Methodology
What drives open market house price appreciation? Where will it be in a month or in a year? How about seasonal effects? Why do otherwise similar homes in some markets appreciate at different rates than in other areas?
