Negative Equity Dips Below 10 Percent for the First Time Since the Market Bottom
In the depths of the housing crisis – late 2011 and early 2012 – the share was 31 percent of homeowners with a mortgage. In the fourth quarter 2017, it dropped to 9.1 percent, the first time it’s fallen below 10 percent since the bottom of the market.
Republicans, Democrats Predictably Differ on Impact of Tax Reform on Housing
Democrats generally said the December 2017 tax reform legislation made it more difficult to buy a home while Republicans were more likely to say the law made it easier, according to the most recent Zillow Housing Aspirations Report.
Home Values Climbing at Fastest Rate in 12 Years (April 2018 Market Report)
The median U.S. home value rose 8.7 percent to $215,600 in April, the fastest year-over-year climb since June 2006, when the housing market was slowing from its bubble-driven, double-digit growth.
Construction Worker Wages Are Growing Incredibly Fast
Residential construction worker wages are growing at a 5 percent annual pace, almost double the 2.9 percent pace of wage growth for all workers -- as clear a signal as any of the depth of labor shortages home builders face as they struggle to ramp up building as their costs keep rising.
Memphis and Other Southeast Markets Have the Shortest Buy-Rent Breakeven Horizons
The amount of time it takes for owning a typical U.S. home to make more financial sense than renting an identical home is now 1.96 years – or a little under a year and 11 months. It's a year and almost four months in Memphis.
Americans Likely to Reinvest Billions in Tax Savings Back into Housing
Zillow estimates homeowners and renters could put $13.2 billion in tax savings directly into the American housing market in 2018, using some of their tax cut to rent or buy a bigger home.
Having low credit can come with a lot of high costs. A borrower with a “fair” credit score could pay 7 percent more over the life of a 30-year mortgage for the same home as an otherwise identical borrower with an “excellent” score.
Today’s College Grads Earn More, and Still Live at Home
New college grads have flocked to West Coast tech hubs over the past decade-plus. But as those markets rapidly become less affordable, recent data hints at a changing tide – and suggests rising housing costs nationwide are putting a squeeze on grads’ ability to strike out on their own.
Most Popular Neighborhoods Heading Into Home Shopping Season
The country’s most popular neighborhoods have a lot in common with its most popular celebrities: They tend to be in California.
Hispanics, Young Adults Pushing Up U.S. Homeownership Rate
The seasonally adjusted U.S. homeownership rate is currently enjoying its longest uninterrupted run of quarterly gains since the turn of the 21st century, driven higher by advances among Hispanics and younger adults.
