Post-IPO, Home Values Grew Faster in Areas Home to Lots of Facebook Employees
Between March 2012 and March 2013, home values around likely Facebook employees climbed 21 percent, compared to 17 percent in all other Bay Area census tracts.
Market Trends
Share of Homes Selling Above List Price Plummets
After years of progressively more homes selling above their listed prices, the share of homes that sold above list plummeted in the second half of 2018.
After Patiently Waiting, Rates Primed to Fall Following Fed Remarks
Mortgage rates remained flat again this week but are primed to fall following the Federal Open Market Committee (FOMC) meeting that concluded Wednesday afternoon.
Today’s snapshot of home sales data from November captures the well-documented market slowdown that occurred at the end of 2018 but does little to highlight more recent developments.
More Than a Third of Home Buyers Now Make More Than $100,000
While home values have soared 50 percent in the past seven years, household incomes have not kept up, rising just 11.3 percent in real terms ($53,921 to $60,000) from 2012 to 2017.
Squabbles, Shutdown and Scarce Stats Leave Rates Flat Again
Mortgage rates were flat again this week, despite fluctuations caused by geo-political uncertainty and unexpectedly strong manufacturing data.
December Existing Home Sales: Back to the Grind
December existing home sales dropped 6.4 percent from November, to 4.99 million units at a seasonally adjusted annual rate, according to the National Association of Realtors. It was te weakest month in more than three years (November 2015).
Forecast for Existing and New Home Sales (December 2018)
Zillow expects estimates existing home sales fell 2.6 percent in December.
Missing Data Accompanying Missed Paychecks as Government Shutdown Continues
The Census Bureau was scheduled to publish monthly new construction permits and starts data for December this morning, but the release was delayed because of the federal government shutdown. The delay comes at a critical moment for the American economy, amidst growing uncertainty about the underlying health of the housing market – and each missing or delayed data point adds to that uncertainty for buyers, sellers, developers, investors and local governments.
