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‘We’re heading into a housing recession’: Here’s what the NAHB CEO sees in real estate right now — and why it spells big trouble for the economy
Source: Yahoo Finance --- Housing, which is a key segment of the national economy, looks extraordinarily weak right now, according to a recent report by the National Association of Home Builders (NAHB). “We’re heading into a recession,” NAHB CEO Jerry Howard...
The housing slowdown is here
Source: Axios --- The housing slowdown we've been anticipating for months is here. The big picture: Home sales are slowing down, and some of the pandemic era's hottest "Zoomtowns" — sleepy areas where remote workers pushed up real-estate prices — are already seeing...
Home prices are being slashed in these 10 cities as real-estate market cools
Source: Marketwatch --- The U.S. housing sector is finally cooling off. For those looking to buy, there are homes in several parts of the country that are on sale right now, according to new data. Sellers slashed home prices in June in areas that saw red-hot price...
Share of New Home Sales Backed by FHA Loans Reaches 14-Year Low
Source: NAHB --- NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that the four-quarter moving average (MA) share of new home sales financed through FHA was 11.0% in Q2 2022–its smallest share since...
A housing recession is the first step to a Fed-induced recession. Here’s where the housing market goes next
Source: Fortune --- In the early '80s, homebuilders mailed two-by-fours to then Fed Chair Paul Volcker in hope the central bank would relax its inflation fight that saw mortgage rates top 18%. Of course, the Fed didn't back off until the 1981 recession helped tame the...
June New Home Sales: Builder Slow Down Meets Declining Sales
Source: Zillow --- There were 590,000 new home sales nationwide in June (SAAR), down 8.1% from May and down 17.4% from June 2021, according to the U.S. Census Bureau. The median sales price of new houses sold in June was $402,400. The seasonally-adjusted estimate of...
Another big Fed rate hike is here to battle inflation. Economy hangs in balance
Source: npr --- With prices rising at their fastest pace in a generation, the Federal Reserve is ratcheting up its fight against inflation. On Wednesday, the Fed raised its benchmark interest rate by an additional three-quarters of a percentage point. This is the...
Single Family Rents in the U.S. Increased 14 Percent Annually in May
Source: World Property Journal --- Based on CoreLogic's latest Single-Family Rent Index, U.S. single-family annual rent growth remained at a record high in May 2022, posting a 13.9% increase from May 2021. This growth matched April's increase, representing the first...
GET A LAND LOAN OR CONSTRUCTION LOAN: WHICH IS BEST?
Source: RisMedia --- Are you interested in building your own home? It is an exciting proposition because you get to pick and choose everything that goes into the process from the ground up. You don’t have to worry that a builder is going to tell you that you’re not...
Pandemic Homebuying Hotspots With Steep Price Increases Most Susceptible to Housing Downturn in a Recession
Source: Redfin --- Popular migration destinations where home prices soared during the pandemic–including Boise, ID, Phoenix and Tampa, FL–are most likely to see the effects of a housing downturn amplified and home prices decline year over year if the economy goes into...
