For the time being, this slowdown represents a return to fundamentals more than anything else, and to more balance between buyers and sellers.
Market Trends
Low housing inventory, a major contributor to a runup in home prices in recent years, has risen for three consecutive months – but it is climbing at a slow rate, more akin to bumping along the bottom than growing in any meaningful way.
Mortgage Rates Fed Up With Flatness, Fall for the Week
After staying flat for much of the past week, mortgage rates dropped sharply in recent days to their lowest levels since August.
November Existing Home Sales: Signs of Life
November existing home sales rose 1.9 percent from October to 5.32 million sales, according to the National Association of Realtors.
Forecast for Existing and New Home Sales (November 2018)
While existing home sales have suffered from supply side constraints for the past three years, new home sales are facing more recent headwinds.
Atlanta, Phoenix Home Buyers Have Smaller Down Payments
Nationally, 24.2 percent of buyers put down 5 percent or less. The share is much higher in Atlanta, where a whopping 44.5 percent of buyers put down 5 percent or less, and Phoenix, where 36.9 percent do.
Mortgage Rates Level Off After Two Week Decline
Mortgage rates held flat this week, kept in check by offsetting forces from abroad, breaking a two-week-long slide that saw rates hit their lowest levels since September.
Lumber Prices Plummet to Lowest Levels Since January 2017
Lumber prices retreated sharply from mid-year highs and dipped to lowest levels since January 2017, the eve of the U.S.-Canada trade war that sparked the lumber price surge.
Rejected Amazon HQ2 Finalists to Be Among Nation’s Fastest-Growing Markets in 2019
Home value growth in several markets ultimately rejected for Amazon’s coveted second headquarters is expected to outpace the national average next year.
Notable Numbers From November 2018
Check out the most eye-popping numbers from Zillow's November research, including how the "Amazon effect" could affect New York, how student debt affects home buyers' choices, and the number of homes expected to be inundated if greenhouse gas emissions climb unchecked.
