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Pending listings declined over Q3 2022 in the highlighted markets, but the extent of the decline varied regionally. Salt Lake City, UT and Las Vegas, NV witnessed the sharpest declines of 24.3% and 22.4% respectively from June to September, while in San Diego, CA the decline was less than 10%.
After two years of rapidly rising prices, the housing market seems to have lost steam. There is widespread expectation that the U. S. will fall into recession as the Fed continues to raise interest rates. The following indicators also confirm that the trend in the housing market has shifted.
The data suggests that while some first-time homebuyers are getting priced out of the housing market due to affordability, prices are being driven by demand from repeat and all-cash buyers as they compete for a low supply of homes.
The recent hot housing market has led to a sharp rise in single-family home investor purchases. The large increases experienced in the housing market have made single-family homes a quality investment that can produce yearly returns higher than those seen in the stock market. Investor Purchase Percentage usually hits its peak from December to February,
Corporate Investor Home Purchases are at the Highest Levels in a Decade Read More »
For the time being, the war will likely amplify the supply chain disruptions and add to the already high inflation resulting from the pandemic, and home prices in the US are likely to stay on their upward trajectory.
Inflation is wiping out recent wages increases. As supply shortages continue and spending remains strong, many consumers are feeling the impact with a 7.0% rise in food prices and a 40% hike in gasoline prices over the past one year.Â
Will Inflation Slow or Grow the Housing Market? Read More »
So, employers are finding it difficult to fill their job postings since many Americans are reluctant to return to the workforce as they seek better employment opportunities or start their own businesses or are choosing to retire early.
Where did all the workers go? Read More »
The latest data on residential construction from the US Census Bureau and the US Department of Housing and Urban Development shows that annual housing starts increased 15.6% from 1.38 million in 2020 to 1.6 million in 2021 but were 23% lower compared to 2.07 million in 2005, when the last housing bubble took place. 70%
The 15.6% Increase in Housing Starts Won’t Cool Prices in 2022 Read More »
After last week’s shock waves when Zillow announced the demise of its home-flipping business, questions have begun to swirl around its impact on the residential real estate market and on the stability of remaining iBuyers such as Opendoor or Offerpad.
There continue to be some economists, real estate experts, media, and others who state that today’s housing market is in a bubble much like it was in 2005-2006 and getting ready to crash. Here’s Top 5 Reasons why this is not…
Top 5 Reasons Why today’s hot housing market is not the same as the 2006 bubble Read More »