Housing market is still one of the brightest spots of the US economy
5 years ago

Housing market is still one of the brightest spots of the US economy

CNN  

New York CNN Business — The housing market could continue to prop up the US economy in 2020 even if concerns about Iran and trade talks with China dampen confidence for American businesses. Three interest rate cuts by the Federal Reserve last year have underpinned some of the housing market’s recent strength as well, said Michael Bapis, a managing director for Vios Advisors at Rockefeller Capital Management. “Home builder confidence rose to a new high in December, while new home sales hit the highest level since 2007,” Brad McMillan, chief investment officer at Commonwealth Financial Network, saidin a report this week. “Housing is important for consumer psychology since homes make up the bulk of most people’s wealth, not stocks,” said Scott Clemons, chief investment strategist with Brown Brothers Harriman.

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History of this topic

Bad news for homebuyers in the Northeast and Midwest
2 days, 18 hours ago

Bad news for homebuyers in the Northeast and Midwest

CNN  

CNN — Potential home shoppers in the Northeast and Midwest may be in for disappointment: Despite signs of cooling in the last year’s intensively competitive housing market, a new report from Zillow says some areas will stay especially competitive this year. Buying a home has grown more difficult for many Americans amid elevated mortgage rates and a lack of affordable …

Trump’s housing market conundrum
3 days, 18 hours ago

Trump’s housing market conundrum

CNN  

CNN — As President-elect Donald Trump prepares to take office this month, he faces a very different housing market than he did in his first term. Now Trump, a billionaire property developer himself, faces a housing conundrum: Mortgage rates aren’t falling, and home prices are expected to continue rising over the next few years. At the same time, many of …

Homeowners have no incentive to sell. Here’s why
1 week, 3 days ago

Homeowners have no incentive to sell. Here’s why

CNN  

CNN — This year, America’s once-in-a-generation housing slump deepened — but 2025 may not see much improvement. Here’s what economists expect of the housing market in 2025: Homeowners are still locked in The US housing market is on track for its worst sales year in nearly three decades, according to NAR data. “It’s become more of a buyer’s market this …

Global news wrap: COP tussle, monetary policies, luxury market fall
1 month, 1 week ago

Global news wrap: COP tussle, monetary policies, luxury market fall

Live Mint  

Every month, Mint’s Plain Facts section brings out an update on key global data to thread together the biggest developments in the world that are worth paying attention to. Meanwhile, with the one-sided casualty in the Israel-Hamas war, with 43,000 Palestinians dead and 1.9 million internally displaced, the International Criminal Court has issued arrest warrants for Israel’s prime minister Benjamin …

'Crisis is real': Analyst warns Trump of looming plight that could doom presidency
1 month, 2 weeks ago

'Crisis is real': Analyst warns Trump of looming plight that could doom presidency

Raw Story  

Donald Trump managed to win a second term in large part due to the frustration of the electorate over prices — but there's a big economic crisis looming over the president-elect's head that could end up defeating him, Heather Long wrote for The Washington Post. Trump has boasted that under his presidency, people will be able to get 2 percent …

You need to make $108,000 to afford a home in America
1 month, 3 weeks ago

You need to make $108,000 to afford a home in America

CNN  

CNN — In most US cities, buying a home now requires a six-figure salary. A household needed to earn $107,700 to afford a new single-family home and pay property taxes and insurance costs in the third quarter of this year, according to a new report from Oxford Economics. San Jose, California, was the least affordable US metro region, with a …

US home sales fell in August despite easing mortgage rates, more homes on the market
3 months, 2 weeks ago

US home sales fell in August despite easing mortgage rates, more homes on the market

Hindustan Times  

LOS ANGELES — Sales of previously occupied U.S. homes fell in August to the slowest annual pace in nearly a year even as mortgage rates eased and the supply of properties on the market continued to rise. Sales of previously occupied U.S. homes fell in August to the slowest annual pace in nearly a year even as mortgage rates eased …

US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices
5 months, 2 weeks ago

US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices

Associated Press  

LOS ANGELES — The nation’s housing slump deepened in June as sales of previously occupied homes slowed to their slowest pace since December, hampered by elevated mortgage rates and record-high prices. Existing home sales sank to a nearly 30-year low last year as the average rate on a 30-year mortgage surged to a 23-year high of 7.79%, according to mortgage …

U.S. existing home sales drop 1.9% in April, pushed lower by high rates and high prices
7 months, 2 weeks ago

U.S. existing home sales drop 1.9% in April, pushed lower by high rates and high prices

Associated Press  

WASHINGTON — High mortgage rates and rising prices continued to put a damper on the spring homebuying season last month. Existing home sales fell 1.9% to a seasonally adjusted annual rate of 4.14 million in April from a revised 4.22 million in March, the National Association of Realtors reported Wednesday. Homeowners have hesitated to put their houses on the market …

US Existing-Home Sales Decline as Rates Keep Buyers Sidelined
8 months, 3 weeks ago

US Existing-Home Sales Decline as Rates Keep Buyers Sidelined

Live Mint  

-- Sales of previously-owned homes in the US fell in March from a one-year high, underscoring the lingering impact of high mortgage rates and elevated prices. “Though rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves,” NAR Chief Economist Lawrence Yun said in a statement. At the current sales pace, selling all …

House prices continue to rise despite higher interest rates, inflation and cost of living
10 months, 1 week ago

House prices continue to rise despite higher interest rates, inflation and cost of living

ABC  

In short: Home values rose 0.6 per cent in February, with increases in every capital city except Hobart, according to CoreLogic. Home values rose 0.6 per cent in February, with increases in every capital city except Hobart, according to CoreLogic. "It's pretty unusual for economic conditions to be so weak but the housing market showing this really strong trend," CoreLogic's …

Recession has struck some of world’s top economies; US keeps defying expectations
10 months, 3 weeks ago

Recession has struck some of world’s top economies; US keeps defying expectations

New Indian Express  

Several unique characteristics of the US economy have sheltered it from recessionary storms, analysts say. The US government provided about $5 trillion in pandemic aid in 2020-2021, far more than overseas counterparts, which left most households in much better financial shape and supported consumer spending well into 2023. “But also the structure of our economy is so much different.” Americans …

May home sales rise with near record-few on the market and biggest annual price drop since 2011
1 year, 6 months ago

May home sales rise with near record-few on the market and biggest annual price drop since 2011

Associated Press  

LOS ANGELES — Sales of previously occupied U.S. homes edged higher in May and the national median sale price posted its biggest annual drop in more than a decade, as a near all-time low supply of available properties constrained the housing market. Existing home sales rose 0.2% last month from April to a seasonally adjusted annual rate of 4.3 million, …

US home sales fell again in January; prices edged higher
1 year, 10 months ago

US home sales fell again in January; prices edged higher

Associated Press  

LOS ANGELES — The nation’s housing slump dragged on into January as home sales fell for the 12th consecutive month to the slowest pace in more than a dozen years. The National Association of Realtors said Tuesday that existing U.S. home sales fell to a seasonally adjusted annual rate of 4 million properties last month. The modest monthly sales drop …

Priced out: young people needing housing face a closed door
1 year, 10 months ago

Priced out: young people needing housing face a closed door

Dutch News  

The papers are full of news about house price movements, new political drives and house building plans. Delft university housing systems professor Peter Boelhouwer calls it a ‘wicked’ market, where first time buyers and those on mid-level incomes get stuck in ‘a big poverty gap/trap.’ By 2022, he says, a two-income couple on an average income needed savings of €280,000 …

Priced out: young people needing housing face a closed door
1 year, 10 months ago

Priced out: young people needing housing face a closed door

Dutch News  

The papers are full of news about house price movements, new political drives and house building plans. Delft university housing systems professor Peter Boelhouwer calls it a ‘wicked’ market, where first time buyers and those on mid-level incomes get stuck in ‘a big poverty gap/trap.’ By 2022, he says, a two-income couple on an average income needed savings of €280,000 …

The housing market in 2022 has been anything but boring
2 years ago

The housing market in 2022 has been anything but boring

Dutch News  

Rising interest rates, falling house prices, fewer deals, more properties – the Dutch housing market was far from dull in 2022, says financial advisor José de Boer. For a start, the government is increasing the transfer tax on buy-to-let properties from 8% to 10.4%, in an effort to dissuade people from buying up homes as an investment – so that …

What’s bad news for the economy may be good news for house prices
2 years, 1 month ago

What’s bad news for the economy may be good news for house prices

The Independent  

What’s bad news for the economy may turn out to be good news for borrowers – and for house prices. When the Bank of England increased interest rates to 3 per cent earlier this month, there was a market expectation that the peak rate would be 4.5 per cent or even 5 per cent next year. The implications for mortgage …

Americans sour on homeownership: just one in five says they could easily buy a home
2 years, 2 months ago

Americans sour on homeownership: just one in five says they could easily buy a home

Daily Mail  

Only one in five Americans say they would be able to buy a home in the coming years without much difficulty — the latest sign of a turbulent property market, high mortgage rates and fears of economic malaise. ‘But high prices driven by a persistent lack of supply have a large share of would-be homeowners doubtful of their ability to …

America's housing prices are facing a stunning downfall
2 years, 2 months ago

America's housing prices are facing a stunning downfall

Daily Mail  

The housing market in the United States has reached a stunning downfall from highs seen in the immediate aftermath of the Covid-19 pandemic. According to a study from the American Enterprise Institute that was published by Fortune Magazine, the West Coast is experiencing rapid housing price drops in cities including San Francisco and Portland, Oregon. It's Northern California that leads …

US mortgage rates hit 6% for first time since 2008 housing crisis
2 years, 3 months ago

US mortgage rates hit 6% for first time since 2008 housing crisis

Al Jazeera  

Average long-term United States mortgage rates climbed above 6 percent this week for the first time since the housing crash of 2008, threatening to sideline even more homebuyers from a rapidly cooling housing market. The long-term average rate has more than doubled since a year ago and is the highest it has been since November 2008, just after the housing …

US housing market is in 'much worse shape' than Fed is letting on, economist warns
2 years, 4 months ago

US housing market is in 'much worse shape' than Fed is letting on, economist warns

Daily Mail  

The U.S. housing market is in significantly worse shape than the Federal Reserve is saying, a top economist has warned - and prices will soon fall sharply. The 10 cities that saw the biggest share of listing price reductions last month are seen above A housing development is seen in Boise, where last month 70% of home listings were slashed …

Financial and real estate experts offer advice to prospective buyers and sellers
2 years, 5 months ago

Financial and real estate experts offer advice to prospective buyers and sellers

Daily Mail  

The US housing market appears to be finally cooling off after seeing its least affordable days since the '80s. The panel of pros features experts from across multiple real estate and financial fields: Troy Gayeski, Chief Market Strategist at broker dealer SF Investments; Ben Emons, Managing Director of Global Macro Strategy at economic advisory company Medley Global Advisors; David Kotok, …

Five things to know about the next US housing crisis
2 years, 5 months ago

Five things to know about the next US housing crisis

Al Jazeera  

High home prices, scarcity and global uncertainty may be the perfect recipe for a United States housing crisis, economists tell Al Jazeera. “We’re seeing listings stay on the market a little longer than a year ago, even six months ago.” Inflation, a bear market on Wall Street after the S&P 500 dropped 20 percent, free-falling cryptocurrencies, war in Ukraine, and …

Home sales tumble again as mortgage rates surge
2 years, 7 months ago

Home sales tumble again as mortgage rates surge

Associated Press  

Sales of previously occupied U.S. homes slowed for the third consecutive month in April as mortgage rates surged, driving up borrowing costs for would-be buyers as home prices soared to new highs. Existing home sales fell 2.4% last month from March to a seasonally adjusted annual rate of 5.61 million, the National Association of Realtors said Thursday. Fierce competition for …

Signs of a housing bubble are brewing
2 years, 9 months ago

Signs of a housing bubble are brewing

CNN  

US home prices have soared to new heights and keep on climbing, and now some researchers and economists are saying they have seen signs of a housing bubble brewing. “Reasons for concern are clear in certain economic indicators … which show signs that 2021 house prices appear increasingly out of step with fundamentals.” Many Americans are still scarred by the …

For most Americans, owning a home is now a distant dream
2 years, 10 months ago

For most Americans, owning a home is now a distant dream

CBS News  

Home prices across the U.S. are surging, while a shortage of houses for sale has resulted in cut-throat competition for those in the market to buy a property. "Home prices remain excessively high and are impacting affordability," Rubeela Farooqi, chief U.S. economist with High Frequency Economics, said in a report. But most buyers don't have the financial wherewithal to make …

Opinion: US isn’t heading for another housing crisis
3 years, 5 months ago

Opinion: US isn’t heading for another housing crisis

CNN  

Editor’s Note: Dana Peterson is an executive vice president and chief economist at The Conference Board. Home prices have surged during the pandemic, leaving many to believe we’re either in a housing bubble or heading toward one. Basic supply and demand factors — not speculation, predatory lending and/or bad underwriting — are driving home prices. The brief pop in housing …

Inflation: The housing market is on fire. The Fed keeps adding gasoline
3 years, 6 months ago

Inflation: The housing market is on fire. The Fed keeps adding gasoline

CNN  

New York CNN Business — Bidding wars. And while the Fed is finally “talking about talking about” removing some of its support, some fear the US central bank is creating another housing bubble as it deliberates. “It probably isn’t the case that the Fed should be continuing to artificially hold mortgage rates down.” Danielle DiMartino Booth, a former Fed official, …

Housing prices shoot up a record 15% with fewer homes on the market
3 years, 8 months ago

Housing prices shoot up a record 15% with fewer homes on the market

NL Times  

The average sale price of homes rose to 385,000 euros in the first quarter of 2021, an increase of 15% compared to the first quarter of 2020. The price of a newly-built homes also jumped to an average of 433,000 euros in the first quarter of 2021, compared to 400,000 euros reported last year. Halfway through the first quarter of …

‘It’s crazy. There is no inventory.’ Housing industry veteran marvels at real estate boom
3 years, 9 months ago

‘It’s crazy. There is no inventory.’ Housing industry veteran marvels at real estate boom

CNN  

New York CNN Business — Jeffrey Mezger is a 40-year veteran of the real estate industry. “This is the best housing market I’ve seen in my career,” Mezger said. Existing home sales fell by almost 7% between February and March, according to the NAR, which blamed the decline on “historically low inventory.” Mortgage rates are creeping higher New home sales …

US existing home sales, median price rose in January
3 years, 10 months ago

US existing home sales, median price rose in January

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sales of previously occupied U.S. …

Is recovery around the corner for India’s housing market?
4 years, 4 months ago

Is recovery around the corner for India’s housing market?

The Hindu  

L ike other industries, the construction sector was also severely impacted after the nationwide lockdown was imposed in late March. “While there was initial ambiguity among buyers, the Covid situation has made many realise the importance of owning their own home,” says Eshwar N, Chief Marketing Officer, Casagrand. “However, there is an inherent demand for the affordable segment and plots …

Housing market is still going strong and propping up the economy
4 years, 4 months ago

Housing market is still going strong and propping up the economy

CNN  

New York CNN Business — The housing market continues to be a bright spot inthe United States economy that has been ravaged by coronavirus. “Homebuyer demand remains robust, inventories are tight, and there is a need for new units to keep the pace of sales going,” said Mike Fratantoni, chief economist of the Mortgage Bankers Association, in a report Tuesday. …

America’s housing market is coming back to life
5 years ago

America’s housing market is coming back to life

CNN  

New York CNN Business — America’s housing market has come back to life in the final months of the year, and promises to boost the economy in 2020. “Particularly if you were in a place with high state and local taxes, or you had a rather large home with a big mortgage, the after-tax cost of owning a home increased.” …

Will the housing market continue to prop up the US economy?
5 years, 2 months ago

Will the housing market continue to prop up the US economy?

CNN  

New York CNN Business — Despite a recent drop in retail sales, softer business spending and a slowdown in job growth, the housing market keeps humming along. The solid housing market is the side effect of a great job market.” Low mortgage rates are helping to convince some renters, particularly younger millennials looking to start families, to take the plunge …

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