Tag: housing market

The housing market has shifted in favor of buyers — depending on where you live | CNN Business

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Americans looking to purchase a home in certain US cities might be pleasantly surprised to find the tide is shifting their way this spring after years of challenging affordability.

There were 3.7 months of for-sale supply on the market in January, the most in six years, according to a recent Redfin analysis. That means it would take more than three months to sell all the homes that were listed for sale in January, given monthly average sales volume.

The findings point to a housing market where sellers are slowly losing leverage after years of having the upper hand. Generally, more than four months of supply sitting on the market indicates a full-tilt buyers’ market.

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Is the Real Estate Housing Market Crashing? | Entrepreneur

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The housing market is shifting, and faster than builders and sellers can adapt.

During the pandemic, low mortgage rates and increased demand led to a surge in the housing market, causing prices to soar and competition to rise. However, the tight market led to sky-high prices and an eventual rise in mortgage rates, which ultimately priced out millions of would-be buyers. Now, builders are faced with an excess of unsold homes, Bloomberg reported.

The once nationwide housing shortage — coupled with the boom brought on by the pandemic — pushed the market to a pressure point. Home prices rose by 20.6% year-over-year in March of 2022, marking the largest increase in the 30 years of record-keeping, according to the Joint Center for Housing Studies tabulations of CoStar and CoreLogic Case-Shiller Home Price Indices data.

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5 signs the housing market is starting to slow down | CNN

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There is a shift happening in the housing market.

After more than a year of soaring demand, exploding home prices and increasing real estate sales, the market finally seems to be cooling off.

“The housing market isn’t crashing, but it is experiencing a hangover as it comes down from an unsustainable high,” said Taylor Marr, Redfin deputy chief economist.

Mortgage rates have increased more than two and a half percentage points this year. And the higher costs of financing a home have changed the calculations for many would-be homebuyers. As a result, year-over-year home sales have been dropping in recent months.

In a Fannie Mae survey on homebuyer sentiment, a record 79% of respondents said it’s a bad time to buy a home.

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Young people are buying real estate — just not the same kind as their parents | Business Insider

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Millennials and younger members of Gen X appear to be delaying the financial responsibility of homeownership.

But it’s hard to blame a group who watched the housing market skyrocket and plummet just as they were entering college or becoming young professionals gearing up to buy a starter home.

As the economy improved, and financial arrested development started to end, some 20- to 30-somethings have started to invest in real estate, but not in the traditional sense.

Many have turned to turnkey properties, which offer the opportunity to become a homeowner while adding another revenue stream to an investment portfolio.

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Housing in 2015 Will Grow, but Not Back to Long-Run Average | Businessweek

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The thump of air hammers and the whine of mini-dozers will be heard a bit more in 2015. Housing construction should continue to climb back in the new year, although it probably won’t get all the way back to its long-run average. “We are in a slow march back to normal,” David Crowe, chief economist with the National Association of Home Builders, said in a December statement.

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