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Market Analysis

January Market Reports: Inventories are Down to the Wire

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January is the month when real estate markets traditionally take a breather to restock their shelves for the spring season. In the final quarter of 2016 record demand powered by concern over interest rates and rising prices encouraged buyers to clear the shelves of depleted supplies and strong sales continued into the new year. An analysis of the January market ... Read More »

Six Signs That Sales are Softening

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Last year was not a great one for the housing economists who forecast home sales.  Most, include NAR[1] and Fannie Mae[2], predicted that existing homes sales would end up south of a 3 percent increase over 2015.  In fact, sales did a little better, rising 3.2 percent for the best sales year since 2006.[3] This year, experts are low-balling sales ... Read More »

January Home Sales: Don’t Break out the Bubbly

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  The good news about January home sales is that the year over year rate reached the highest they reached an all-time high, an annualized total that was a little bit higher than it was last November. The bad news is that the serious problems facing the residential real estate economy grew even more serious during the slowest month of ... Read More »

Duck! The Rental Balloon is Starting to Leak

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It had to happen. Put too many billions into building new apartment buildings atop subway stops and exurban min-cities and you can bet your bottom dollar the multifamily folks will end up with too much capacity. Not even massive demand from Millennials can deny the forces of supply and demand. Here’s the latest. “Fresh supply is beginning to overwhelm demand. ... Read More »

Rates Beat Inventories as 2017 Bad Guys

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Rising mortgage interest rates and their impact on mortgage affordability beat out inventory shorttagers as the most significant force driving the 2017 housing market, according to the latest Zillow Home Price Expectations Survey. On average, experts said rates on a 30-year, fixed mortgage will need to reach 5.65 percent before significantly impacting home value growth, though a sizable share said ... Read More »

Bad Signs for Sales?

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Will 2016 be remembered as the peak of the recovery?  It was the best year for sales in more than a decade.  Will sales take a break in 2017, a victim of political uncertainty, rising rates and prices that are outpacing incomes? Even worse, will 2017 herald a multi-year downtrend in sales? Last year, existing-home sales finished 2016 at 5.45 ... Read More »

Homebuyers Aren’t Fazed by Rate Run-up

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The super sensitivity of home buyers to the slightest uptick in mortgage interest rates is one of the more puzzling examples of human misperception.  Buyers will rush to close or put their buying plans on ice when rates are rising a wrinkle, even if the actual monthly impact on a mortgage is less than a dinner out at McDonald’s.  They ... Read More »

Imprev Thought Leader Study Shows Softer Confidence in 2017 Housing Market

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Top real estate executives’ confidence in the U.S. economy and housing market for 2017 has softened compared to two years ago, and 42 percent have grown less confident in the world economy since January, according to the latest Imprev Thought Leader Real Estate Confidence study. Respondents included nearly 240 broker-owners and top executives at leading franchises and independent brokerage firms, ... Read More »

Experts Forecast Prices Will Cool Off in 2017

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Home price increases will slow next year from this year’s above average pace of 4.75 percent, and in November 2017, values will reach the median price peak set a decade ago, in April 2007, according to the latest quarterly Zillow® Home Price Expectations (ZHPE) Survey sponsored by Zillow and conducted by Pulsenomics LLC. Estimates based on the survey of 111 ... Read More »

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