In a study of borrower profiles and lender behaviors, Zillow found that self-employed loan applicants receive only six loan quotes for every 10 received by non-self-employed borrowers. That's even worse than in June 2011, when the ratio was seven for every 10.
Read More »Forecast: Millennials to Take Housing Reins in 2015
In his 2015 outlook, Zillow's chief economist, Dr. Stan Humphries, predicts millennials will take on a much greater presence in the housing market, overtaking Generation X as the largest group of homebuyers.
Read More »Inventory Improves in October, but Affordable Homes Still Scarce
In its latest market update, Zillow reported that the number of for-sale homes nationwide rose 15.8 percent year-over-year in October. While the increase may be welcome news for home shoppers in some of the country's most supply-starved metros, the number comes with a catch: The biggest gains were seen in the highest price tier of homes.
Read More »Survey: Another Few Years Left for Recovery as Housing Faces Headwinds
In a quarterly survey of more than 100 real estate experts and economists, real estate data firm Zillow found 40 percent of respondents believe it will take another three to five years for the housing market to normalize, based on current home price trends and homebuyer activity.
Read More »Report: Millions of Potential Households Waiting Out Recovery
As the U.S. homeownership rate continues to dwell near its lowest level in two decades, a new study from Zillow suggests more than five million additional households are waiting in the wings to step into the market as the economic recovery trudges forward.
Read More »Home Value Growth Continues to Slow in Q3
Real estate data firm Zillow reported a 6.5 percent year-over-year gain in its Home Value Index for September, bringing the index up to $176,500. Zillow's chief economist, Dr. Stan Humphries, said the latest report comes as a relief compared to last year, when the market was experiencing unsustainable price growth that went well into the double digits in some areas.
Read More »Millennial Optimism Boosts U.S. Housing Confidence
American consumers' enthusiasm for the housing market rose over the summer from the year's start, but expectations for future market performance have become more subdued, according to survey results released by Zillow. Among the thousands of Americans surveyed, confidence is higher among renters as purchase conditions continue to look favorable and rent prices climb.
Read More »Report: Cooled Market Offers Better Prospects for Buyers, Sellers
Zillow's August Home Value Index, released Friday, shows that U.S. home values in August rose at a cool 0.1 percent from July. This cooling of price increases is good news for both buyers and sellers, as slow growth makes for a market in which final sales numbers are more in sync with actual property values.
Read More »Study: Underwater Gen-Xers Holding Down Housing
According to Zillow's latest Negative Equity Report, high negative equity among Gen-X homeowners is causing gridlock in the U.S. housing market. Nearly 43 percent of homeowners between 35 and 49 are underwater on their mortgages. In contrast, only 15 percent of millennial homeowners (those between 20 and 34 years old) and 31 percent of baby boomers (50 to 64 years old) are underwater.
Read More »Rising Rents Hindering Homeownership
The latest conundrum in the U.S. housing market appears to be that while homes in 94 percent of the country's top metro areas are more affordable than they've ever been, rents are so high that renters in 88 percent of those metros can't afford to save up enough for a down payment to buy a home. According to Zillow's July Real Estate Market Report, a mere 12 metros out of the top 100 in the U.S. feature an affordable market for housing and rentals.
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