Why Are There No Homes for Sale?
At last glance, 30-year fixed mortgage rates were sitting above 7%. Despite this, there are virtually no homes for sale. One would assume that after… Read More »Why Are There No Homes for Sale?
Housing Market
Commentary on the latest housing market news, with a focus on home prices, buying and selling conditions, and if another housing crash is right around the corner.
Hint: It probably isn’t for a while, at least with regard to home prices. Though you could argue there’s a major affordability crisis at the moment.
In short, a lack of for-sale supply continues to plague the housing market.
This absence of inventory has resulted in record high home prices, despite a surge in mortgage rates from the 2-3% range to 7% and higher.
And it’s probably hurting first-time home buyers the most, whether it’s an affordability issue or the inability to find a property.
At the same time, home sellers remain in a good spot due to this lack of supply and still relatively strong demand.
The problem for them might be finding a suitable replacement property.
Homeowners Can Now See How Much They’ll Make Renting a Room on Airbnb
If you peruse real estate listings on Realtor.com, you might come across a new Airbnb integration. This week, the two companies announced a collaboration that… Read More »Homeowners Can Now See How Much They’ll Make Renting a Room on Airbnb
Fannie Mae Chief Economist Calls Current Housing Market Unusual, Doesn’t Expect It to Change Anytime Soon
It’s time to check in on the state of the housing market. At last glance, mortgage rates were still above 7%, though they did see… Read More »Fannie Mae Chief Economist Calls Current Housing Market Unusual, Doesn’t Expect It to Change Anytime Soon
The Typical Home Sold in the Past Three Months Went for $200,000 More Than the Seller Paid
Lately, there’s been a lot of talk about a lack of affordability, even a potential housing bubble. And it comes as no surprise, given the… Read More »The Typical Home Sold in the Past Three Months Went for $200,000 More Than the Seller Paid
Today’s Housing Market Risk Factors: Is Real Estate in Trouble?
With mortgage rates exceeding 7% again and home prices reaching new heights, some critics are sounding the alarm. The argument is that we’ve got an… Read More »Today’s Housing Market Risk Factors: Is Real Estate in Trouble?
Zillow and Redfin Join Forces to Push More New Construction Home Sales
In a clear sign of the times, Zillow has announced a partnership to syndicate new-construction listings on Redfin. This means home shoppers will see more… Read More »Zillow and Redfin Join Forces to Push More New Construction Home Sales
Big Jump in Homeowners Saying They’ll Sell in the Next Three Years
Has residential housing supply finally bottomed? Are we finally going to see more single-family homes hit the market, after years of slim pickings? Perhaps, if… Read More »Big Jump in Homeowners Saying They’ll Sell in the Next Three Years
Zillow Says Homeowners Twice as Likely to Sell If Their Mortgage Rate Is Above 5%
More news on the mortgage rate lock-in effect, this time from Zestimate creator Zillow. The company conducted a survey and found that homeowners with a… Read More »Zillow Says Homeowners Twice as Likely to Sell If Their Mortgage Rate Is Above 5%
Nearly Half of Homeowners with a Mortgage Are Equity Rich
While bulls and bears continue to argue the health of the housing market, a new report revealed that most existing homeowners are in a really… Read More »Nearly Half of Homeowners with a Mortgage Are Equity Rich
Wondering Where Home Prices Go Next? Look at Inventory, Not Mortgage Rates
There’s been a lot of speculation that home prices would crash as mortgage rates surged. The argument was especially convincing after the 30-year fixed climbed… Read More »Wondering Where Home Prices Go Next? Look at Inventory, Not Mortgage Rates