Housing starts beat expectations in February but headwinds loom
Privately owned housing starts rose 11.2% but still fell behind February 2024 activity, according to data released Tuesday. Single-family home construction rose 11.4% to 1.1M on a monthly basis
by Richelle Hammiel Mar 18
Inflation, job worries drive 'horrific' consumer confidence report
Republicans are less worried about the future than Democrats and Independents, but 'consumers from all 3 political affiliations are in agreement that the outlook has weakened since February'
by Matt Carter Mar 14
The homeowner affordability crisis is about to explode due to 'TI'
Soaring property tax and homeowners' insurance costs have made homeownership less affordable than any time since the 1980s, Bernice Ross writes
by Bernice Ross Mar 14
Encouraging CPI inflation report does little for mortgage rates
Homebuyers have responded to a pullback in mortgage rates from January highs, but tariffs on imported goods could keep inflation elevated and halt the downward trend in rates
by Matt Carter Mar 12
Renting becomes sign of wealth as many opt against homebuying
Cities in California, North Carolina, Florida and New York have seen a surge in wealthy renters compared to pandemic numbers
by Richelle Hammiel Mar 11
A small but growing minority think it's a good time to buy a home
While only 1 in 4 Americans surveyed last month by mortgage giant Fannie Mae said its was a good time to buy a home, that's up from an all-time low of 14% last spring
by Matt Carter Mar 7
Weak February jobs report moves the needle on mortgage rates
Mortgage rates eased Friday as investors took stock of new data showing employers added 151,000 workers to their payrolls in February and the unemployment rate ticked up to 4.1%
by Matt Carter Mar 7
EXp CEO 'cautiously optimistic' as spring homebuying season nears
EXp CEO Leo Pareja said he's hopeful about the busiest season of the year for homebuyers, saying more inventory at varied price points will be key to helping shoppers see beyond elevated rates
by Marian McPherson Mar 7
Want to get more for your sellers? List in late May
Despite a slow start to the year, Zillow's latest report said May might be a potential goldmine for homesellers. Listings that go live during the last two weeks of May receive a premium of $5,600
by Marian McPherson Mar 6
Homebuyers and homeowners jump on big drop in mortgage rates
Requests to refinance surged 37% last week and were up 83% from a year ago after the biggest 1-week decline in mortgage rates since November, the MBA's latest weekly lender survey shows
by Matt Carter Mar 5
Inflation is cooling. But is the economy about to crash?
After moving in the wrong direction for 3 months, annual inflation cooled to 2.5% in January. But the biggest drop in consumer spending since 2021 has 1 model predicting a shrinking economy
by Matt Carter Feb 28
Opendoor saw rising losses in Q4, but managed to boost revenue
The iBuyer's $1.1B in Q4 revenue wasn't enough to offset a loss of $113M. However, CEO Carrie Wheeler said the company entered 2025 as 'a leaner, more efficient business'
by Jim Dalrymple II Feb 27
Pending home sales fall 4.6% to an all-time low, NAR says
The Pending Home Sales Index (PHSI), which tracks home sales based on contract signings, dropped 4.6% to 70.6 in January, marking an all-time low, according to NAR data
by Richelle Hammiel Feb 27
Home values have surged at 2X the normal rate since pandemic
Since 2020, US home values have risen by 45.3%, meaning more than 10 years of typical home value growth has been packed into a 5-year period, a new report from Zillow shows
by Lillian Dickerson Feb 27
New-home sales plunge 10.5%, fall below expectations
Compared to December, new-home sales dropped 10.5% to a seasonally adjusted rate of 657K, according to US Census Bureau data
by Richelle Hammiel Feb 26