U.S. Housing Market
Honolulu City Council Considers Property Tax Relief Measures
Budget and Fiscal Services Director Andy Kawano warned that these measures could result in lost revenue that is not easily replaced. Continue Reading Honolulu City Council Considers Property Tax Relief Measures
Mortgage Rates Remain Flat
Fannie Mae predictied mortgage rates will end 2025 and 2026 at 6.4% and 6.0%, respectively. Continue Reading Mortgage Rates Remain Flat
Florida Lawmakers Consider Accessory Dwelling Units to Solve Affordable Housing Shortage
Under the legislation, ADUs would not be allowed in planned unit developments or master planned communities. Continue Reading Florida Lawmakers Consider Accessory Dwelling Units to Solve Affordable Housing Shortage
Grand Opening for The Lindley, 37-Story San Diego Luxury Highrise
The Lindley is LEED Gold Certified and offers electric vehicle charging stations and access-controlled bike storage. Continue Reading Grand Opening for The Lindley, 37-Story San Diego Luxury Highrise
Hits and Misses for the Real Estate Week of March 10-14
HUD’s new priorities, Gavin Newsom’s financial benefactors and a pair of high-profile acquisition stories – one genuine, one not. Continue Reading Hits and Misses for the Real Estate Week of March 10-14
The nation’s housing market is on a correction course
Source: Housing Wire --- Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experienced over the past year, according to the recently released Federal Reserve Beige...
Buyers and sellers are feeling a shift in the housing market
Source: Marketplace --- In June, pending home sales fell 8.6% from the previous month, according to the National Association of Realtors. That’s the latest sign that the frenzied housing market we’ve come to know during the pandemic is finally cooling off. So what’s...
‘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...
Mortgage Rates Moving LOWER After Fed Hikes by 0.75%
Source: Mortgage News Daily --- The Federal Reserve concluded one of its 8 regularly scheduled meetings in 2022 today. As expected, they announced a rate hike of 0.75%. But if you still think that means mortgage rates moved higher, think again. In fact, if you're not...
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...
