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.
Market Trends
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.
Mortgage Rates Jump After Sleepy Holiday Season
The prospect of weakening international demand to buy U.S. debt, at the same time as Uncle Sam may need to begin selling more debt to make ends meet, likely helped push mortgage interest rates to their highest point in months early this week.
Hottest Markets for 2018 Include Tech Hotspots, Southeastern Charmers
Some markets have proven hotter than others – kept at a boil by healthy income growth, abundant job opportunities and above-average housing appreciation.
Tax Reform and Housing: All Your Questions Answered
New tax reform legislation makes major changes to longstanding federal tax incentives for homeowners -- and brings lots of questions. Here are some answers.
Mortgage Rates Quiet Over New Year’s Holiday
Friday’s December Jobs Report will be another opportunity for markets to assess the state of the U.S. labor market. If the data come in as expected, they should show a strong job market at the end of 2017.
Total Value of All U.S. Homes: $31.8 Trillion. How Big Is That?
It's more than 1.5 times the Gross Domestic Product of the United States and approaching three times that of China. Total U.S. home values have grown $1.95 trillion over the past year -- more than all of Canada's GDP or two companies the size of Apple.
Case-Shiller October Results and November Forecast: Still Defying Gravity
The housing market’s resistance to headwinds is a testament to the enduring value Americans place on homeownership. The Case-Shiller National Index for October climbed 6.2 percent year-over-year. Seattle, Las Vegas and San Diego continued to post the strongest annual gains in its 20-City Composite Index, with increases of 12.7 percent, 10.2 percent and 8.1 percent, respectively.
