Tag Archives: Housing Market

A new Zillow study revealed that total U.S. housing value has surged more than $2.6 trillion over the past year, an estimated 49% higher than before the pandemic, with new home construction continuing as the primary driver of housing market growth.

Redfin reports that 25.5% of homebuyers in the second quarter of 2023 looked to move, with San Francisco and the Empire State topping the list as homebuyers continue to depart expensive metros in favor of areas with more affordable housing options.

“While the NFCI Credit index indicated that credit tightened in March, which reduced housing market potential, the credit tightening was modest and far from recent pandemic lows, and certainly nothing like the Great Financial Crisis period,” said Mark Fleming, Chief Economist at First American.

While inflated home prices continue to dampen demand, home sales fell to a more than seven-year low in January, as rising rates continue to weaken home affordability.

As a result of slowing market activity and steadily increasing interest rates, a new HouseCanary report revealed early signs of housing market activity growth halted due to the latest round of rate hikes.

According to a new Redfin report, the Bay Area housing market lost more value in percentage terms than anywhere else in the country as demand waned, while Florida continued to see large gains.

As mortgage rates climb toward 7%, the decline in new listings of homes for sale has slowed since December. A new Redfin report examines why many homebuyers continue to pull back from their home search.

A new report from Redfin revealed the share of homes bought with cash is down slightly from November but remains elevated above pre-pandemic levels as high mortgage rates persist, averaging 6.36% in December.

A new Veterans United Home Loans survey revealed that high home prices are among the top reasons that impact the decision to buy a new home among service members and Veterans. However, many remain optimistic about homebuying in 2023 despite ongoing affordability challenges.

According to a new study from Real Estate Witch, inflation has impacted an estimated 92% of millennials' homebuying plans, indefinitely delaying home purchases for many prospective buyers.