October New Home Sales: Reinforcing the Trend
October new home sales stood at 733,000 (SAAR), according the U.S. Census Bureau, down 0.7% from upwardly revised September numbers but up 31.6% from a year ago.
Market Trends
The Silver Tsunami: Which Areas will be Flooded with Homes once Boomers Start Leaving Them?
Over the next 20 years, more than a quarter (27.4 percent) of the nation’s currently owner-occupied homes are likely to hit the market.
‘Open Concept’ Is the New Formal Dining Room for the Holidays
Zillow research finds the share of for-sale listings mentioning open concept layouts has more than doubled since 2015, while the share of listings mentioning a formal dining room has slightly dipped.
October Existing Home Sales: Up, But Some Buyers Still on the Sidelines
The economy is offering everything it’s got -- high employment, low interest rates, healthy home price appreciation -- and still there’s only modest growth in existing home sales.
U.S. Rents Continue to Rise as For-Sale Inventory Dries Up (October 2019 Market Report)
Annual growth in the U.S. rental market has been very consistent over the past year, never slower than 1.7% nor more than 2.4% -- slower than recent annual income growth that has hovered around 3% in recent months and a sustainable pace for renters, especially those trying to save for homeownership.
October Housing Starts: Robust Rebound
Today’s release was more evidence of how resilient the home construction industry is in the face of persistent constraints.
U.S.-China Roller Coaster Sends Mortgage Rates Way Down, Then Way Up
It’s been a tumultuous seven days, with mortgage rates ultimately settling near three-month highs. Once again, the driving force behind these movements were trade discussions between the U.S. and China.
Mortgage Rates Rise on Brexit and Trade News, But Gains Could Be Short-Lived
Mortgage rates rose to three-month highs this week on encouraging geopolitical developments, but will likely be drawn back after the Federal Reserve’s third rate cut of 2019.
Gains Among Latinx, Young Homeowners Drive Q3 2019 Homeownership Gains
The U.S. homeownership rate rose to 64.8% in Q3 2019, up from 64.1% in Q2 and 64.4% in Q3 2018, according to the U.S. Census Bureau.
August Case-Shiller Results and September Forecast: Stabilizing, not Swooning
The S&P CoreLogic Case-Shiller U.S. National Home Price Index® rose 3.2% year-over-year in August (non-seasonally adjusted), up from 3.1% in July.
