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Market Analysis

Housing Costs Plunge for Owners, Soar for Renters

landlord

  A much higher proportion of renters than homeowners are cost burdened by their housing expenses and the number is growing quickly due to rising rents and affordable home prices. Last year, 39.6 million households spent more than 30 percent of their income on housing, down from 40.9 million in 2012 and a peak of 42.7 million in 2010.  Still, ... Read More »

Is the Recovery Coming to a Screeching Halt?

halt

  After slowly winding down over the summer months, the third and fourth quarter data now being released shows that price appreciation is no longer slowing.  It is now within inches of a total screeching halt that could presage a shift in the recovery’s momentum as real estate markets don their pajamas for the winter hibernation. The September 2014 index ... Read More »

Starter Homes are Still Scarce

Starter homes

  National web sites report inventory remains tight, especially among lower priced starter homes popular with first-time buyers and investors. The realtor.com October National Housing Trend Report shows that inventory remains tight as total listings have decreased 2.9 percent month over month and 4.8 percent year over year. In October, homes spent approximately 92 days on the market, which is ... Read More »

Rents Rose for Eight Straight Months

Rents rise

The national annual effective rent growth reached 4.33% in October, a 2 basis point (bps) increase from September’s 4.31% and the highest point of the year to date, according to the latest data from Axiometrics.. October marked the eighth straight month in which effective rent growth has increased. The continued strong effective rent growth indicates that the national apartment market is ... Read More »

Multigenerational Living Loses Luster

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Is the three generational household leaving 21st Century America and returning to life on Walton’s Mountain? For several years housing experts have watched with concern as American families adopted a very old way of living that includes grandparents, adult children and even their offspring living under the same roof.  The phenomenon of “Boomerang Kids” who bounce back home when the ... Read More »

Median Income Americans Can’t Afford Median Homes in Most Metros

american dream

A median-income household can only afford a median-priced home in 10 of the 25 largest U.S. metropolitan areas, which is actually an improvement over last year despite the fact that home values are rising faster than income levels in most markets.  In 2013, the median-income household fell short in all but eight of the 25 metros. Baltimore was the biggest ... Read More »

Application Frustration Drives Away First-timers

frustration

Lack of understanding, inexperience and uncertainty about the process of applying for a mortgage is keeping large numbers of potential homebuyers out of homes because lenders often fall short in providing advice and guidance. Some 58 percent of prospective home buyers in a recent J D Powers surrey were first-time home buyers. Lack of experience among these customers and uncertainty ... Read More »

Is a New Horizon for Home Values only Four Months Away?

sunset

  In just four months, in February 2015, national median home values will rise higher than their pre-crash peaks in 2007 and begin setting new heights for the first time in eight years, according to a survey of 107 expert panelists in the latest Zillow® Home Price Expectations Survey.  The February prediction—that national values will exceed the 2007 peak of ... Read More »

CoreLogic: Healthy or Wealthy?

rich

  Through August, CoreLogic figures that national median home prices have risen 17.5 percent during a 20 month run that’s now tapering off.  According to the October 2014 CoreLogic HPI™, in 2013 alone, national home prices rose by more than 11 percent. By August, national home prices had risen another 6.5 percent year-to-date. Wealthy is not necessarily healthy when it ... Read More »

Millions of New Households Await Better Times

big family

  Stagnant incomes and rising rents have left the nation with an unprecedented number of doubled-up households as people moved in together to make ends meet. All those roommates have changed the American housing landscape, with 5.4 million households that would exist under normal conditions instead lost in guestrooms and basements, sharing space with friends, family and roommates, waiting for ... Read More »