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Market Trends

Summer Ends with Crippling Inventory Shortages

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August brought even worse news for first-time and move-up buyer as chronic inventory shortages grow even, inflating home prices even more.  A double whammy of unaffordable prices and shrinking selections of homes for sale continue to handcuff the housing recovery. “Hopes of a meaningful sales breakthrough as a result of this summer’s historically low mortgage rates failed to materialize because ... Read More »

Freddie Raises Price Forecast, Fannie Turns Bearish on Sales

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Like the blind men with different interpretations of the same elephant, September forecasts by economists at the nation’s largest housing GSEs emphasize differing outcomes from the same forces shaping the nation’s housing economy. After July’s disappointing existing sales report, which NAR’s Lawrence Yun attributed in part to chronically low inventories, Fannie Mae lowered its existing sales forecast for 2016 from ... Read More »

Five Reasons Rentals are Winning the War for the Millennials

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The national homeownership rate has just fallen to its lowest level since June 1965, the month that the Rolling Stones released “I Can’t Get No Satisfaction” and Peter Sellers and Romy Schneider starred in “What’s New Pussycat”.  Only 62.9 percent of families now own the homes in which they live.[1] “They’ said homeownership wouldn’t get any lower because the largest ... Read More »

Stormy Weather Hits Home Sales

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Is it just the end of the buying season or are home sales hitting a wall? A growing consensus of economists foresees a flattening in sales growth—or even year-over-year declines in the months to come–for the balance of the year and even into next year.  Sales may have reached a ceiling for the season. A combination of rising prices, slow ... Read More »

Major Market Rents Decline as Apartment Construction Boom Arrives

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Apartment rental rates are declining so much in several of the nation’s hottest major real estate markets that the national annual effective rent growth rate fell to 3.1 percent in July, which recorded the lowest rate since 2.8 percent in July 2014, according to the latest report from Axiometrics. Leading the declines were: Houston, whose -2.2% annual effective rent growth ... Read More »

Apartment Demand Surged in Second Quarter

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  Demand for apartments surged during the second quarter, gaining momentum after a sluggish performance in the first three months of the year and outstripping new units completed during the quarter. The occupied apartment count across the nation’s 100 largest metros increased by 127,402 units in the secone quarter, topping 2015’s second quarter demand volume by 23 percent. Demand surpassed ... Read More »

All You Need to Know to Master Market Literacy

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  Perhaps the most valuable lesson that real estate consumers learned from the housing crash was that home values can fall as well as rise.  More than seven million families lost their homes to foreclosures and short sales; a brutal wake-up calls that though homeownership is safer than most investments it still involves risk.  Today’s buyers are very aware that ... Read More »

Economists say Shortages, not Economic Growth, are Driving Home Prices

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  Tight inventories of homes for sale rather than economic factors, like rising income levels  or low interest rates, are driving higher than expected increases in home prices.  Yet recent low interest rates are not creating an unsustainable increase in home values, concluded the more than 100 housing economists and experts participating in the latest quarterly Zillow Home Price Expectations ... Read More »

Chinese Residential Purchases Soar

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Chinese nationals are the biggest foreign buyers of American homes, purchasing homes valued at $93 billion in the past five years, including $28.6 billion in 2015 alone according a new report released today by Asia Society and the Rosen Consulting Group. Chinese buyers spent at least $93 billion on residential real estate between 2010 and 2015. Spending rose at an ... Read More »

Investors are Back Despite Higher Acquisition Costs

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Last year investor purchases rose for the first time in four years despite soaring prices paid by investors to acquire properties for flipping or converting into single family rentals. Investment-home sales in 2015 jumped 7.0 percent to an estimated 1.09 million from 1.02 million in 2014. The median investment-home sales price was $143,500, up 15.3 percent from $124,500 a year ... Read More »

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