Rapid Reaction: December New Home Sales
Today's numbers are not the way we would have liked to see 2017 end for the new home sales market, but nevertheless the year overall showed meaningful progress.
Market Trends
Mortgage Rates Moving Up as Fed Confirms New Chair, Markets Watch GDP and NAFTA
Rates have increased decisively in two of the past three weeks and the momentum is clearly upward.
December Existing Home Sales: A Retreat Following a Strong November
Three years of contracting inventory was bound to catch up: Existing home sales fell in December after a strong November, declining 3.6 percent from November. They ended 2017 up 1.1 percent from 2016, a substantial slowdown from 3.8 percent in 2016 and 6.5 percent in 2015.
Rapid Reaction: December Existing Home Sales
Three years of contracting inventory was bound to catch up with transactions sooner or later: Existing home sales posted a weak December, ending 2017 on a disappointing note after appearing to have picked up momentum in October and November.
December Home Sales Forecast: Slower Growth After a Strong November
After an exceptionally strong November, we expect the housing market faced greater headwinds in December.
Amazon’s HQ2 Contenders: By the Numbers
Here's a quick look at housing and other economic data for the 20 metros Amazon is considering for its second headquarters -- and up to 50,000 employees.
The Inventory Crisis: No End in Sight (December 2017 Market Report)
For-sale U.S. inventory is down 10 percent since last December, and has been falling on an annual basis for the past 35 months. Don't expect that to change any time soon.
Mortgage Rates Steady, But Tax Reform Could Mean Higher Rates Ahead
Absent spending cuts, the Tax Cuts and Jobs Act – enacted in December – is likely to boost federal government borrowing, meaning that mortgage borrowers will increasingly be competing with Uncle Sam for long-term loans at the same time more investors are willing to take a risk on overseas investments, which could mean less money for U.S. markets, including bonds. Together, these forces should push up interest rates over the coming months.
What Amazon’s Growth Has Meant for Seattle
As Amazon weighs where to locate its second headquarters, it's worth considering what the company's blockbuster growth has meant in Seattle.
For a Quarter More: Why 1 in 4 U.S. Home Sales in 2017 Sold Above List Price
Roughly a quarter of U.S. home sellers got more from their home than they asked for last year – in some cases, much, much more. Nationwide, buyers paid more than the asking price on 24.1 percent of home sales in 2017, netting sellers an additional $7,000 on average over their initial offering price.
