U.S. Housing Market Updates
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North Carolina’s Wake County Votes to Raise Property Taxes, Cut Affordable Housing
The county’s budget includes pay raises from 1% to 3.5% for 5,000 public employees. Continue Reading North Carolina’s Wake County Votes to Raise Property Taxes, Cut Affordable Housing
Listings Go Live at Brooklyn’s Tallest Residential Tower
The Brooklyn Tower features 143 luxury condominiums available for immediate occupancy. Continue Reading Listings Go Live at Brooklyn’s Tallest Residential Tower
Additional Reading: MOST POPULAR U.S. HOUSING MARKET News & Headlines
Newsom Backs Bill Providing Homeowners with Interest Earned on Insurance Payouts
“Homeowners rebuilding after a disaster need all the support they can get, including the interest earned on their insurance funds,” said Newsom. Continue Reading Newsom Backs Bill Providing Homeowners with Interest Earned on Insurance Payouts
Only 15% of Q4 California Homebuyers Could Afford a Median-Priced Home
A minimum annual income of $222,000 was needed to qualify for the purchase of a $874,290 statewide median-priced, existing single-family California home. Continue Reading Only 15% of Q4 California Homebuyers Could Afford a Median-Priced Home
Rocket Companies Launches ‘Own the Dream’ Marketing Campaign During Super Bowl Broadcast
The Detroit-headquartered company premiered the campaign with a 60-second commercial during the game’s second quarter. Continue Reading Rocket Companies Launches ‘Own the Dream’ Marketing Campaign During Super Bowl Broadcast
Mortgage lenders expect the housing market to worsen in 2023
Source: firsttuesday Journal --- Following record lender profits in 2021, 2022 has mortgage lenders packing their bags and heading for the exits. The Mortgage Bankers Association (MBA) believes the U.S. will enter a recession in the first half of 2023. The MBA expects...
US home prices falling 15% looks “conservative”: KPMG
Source: The Real Deal --- An economist is predicting home prices could decline much more than anticipated as the housing bubble begins to pop. A 15 percent drop in home prices for next year is “very conservative,” KPMG chief economist Diane Swonk told Fortune. Swonk’s...
‘No One Wants To Catch a Falling Knife’: What To Expect in the Housing Market for the Rest of 2022
Source: Realtor.com --- What a difference just a few months can make. As the year comes to a close, the red-hot housing market has been brought to its knees by soaring mortgage interest rates. It now appears to be in a standoff as just about everyone suddenly feels...
Here’s why it may take a while for housing inflation to cool off
Source: CNBC --- There are signs inflation may fall further in coming months, but housing threatens to mute any improvement. The consumer price index, a key barometer of inflation, rose 7.7% in October from a year ago. While still quite high by historical standards,...
Dallas Housing Market Will Surge in 2024, Says NAHB Economist Rob Dietz at Home Builders Summit
Source: Candy's Dirt --- The country is already in the midst of a “mild recession,” but local job growth is outstanding and inflation has peaked, an economist told Dallas builders last week. National Association of Home Builders Chief Economist Rob Dietz emphasized...
Here’s why Home Depot and Lowe’s are booming in a housing market bust
Source: CNBC--- As the U.S. housing market falls hard from its pandemic-driven highs, home improvement retailers like Home Depot and Lowe’s don’t seem to be feeling the same pain. In fact, they’re faring better than expected. While homebuilding and home remodeling are...
KPMG: The Pandemic Housing Bubble is bursting—U.S. home prices falling 15% looks ‘conservative’
Source: Yahoo! Finance --- It didn't take long for white-collar professionals in 2020 to realize that expanded work-from-home policies meant they could buy real estate pretty much anywhere. Vacation markets went gangbusters. Exurbs got red-hot, as did so-called Zoom...
The Latest Inflation Numbers Are Good News for Mortgage Rates
Source: Money --- Hope for relief from rapidly rising mortgage rates was revived this week when October inflation numbers came in lower than expected. Consumer prices continued to increase last month but at a slower pace than at any other point this year. The latest...
It’s a terrible time to buy a house. Here’s what to know if you have to do it anyway
Source: CNN Business --- There is no sugarcoating it: This is a terrible time to buy a home. Mortgage rates for a 30-year fixed rate loan are now hovering above 7%, more than 4 percentage points higher than a year ago. That has slashed a typical buyer’s purchasing...
Eagle County Real Estate Market Report: Reason for optimism in uncertain times
Source: Vail Daily --- Media headlines are generating uncertainty around the local and national housing market, and lower inventory coupled with higher inflation and interest rates have created a pause in the residential real estate market. Depending on whom you...
