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Housing Market

Redfin’s Report Reveals Largest Annual Home Price Decline in Over a Decade—But Does the Data Tell the Whole Story?

A new report from Redfin shows the median home sale price dropping 4.1% ($17,603) year over year in April—the biggest annual drop in dollar terms and the steepest annual decline in percentage terms since January 2012.

May 24, 2023

Housing Market

Fannie Mae’s Revised Forecast Calls for a Mild Recession and Decline in Home Prices

Fannie Mae’s Economic and Strategic Research (ESR) Group released its revised forecast on May 19th. The group expects the U.S. to enter a mild recession later this year, along with a decrease in home prices.

May 23, 2023

A smiling man’s portrait centered on a collage of women’s faces and mathematical formulas in the background.

Housing Market

Demystifying The Numbers: George Ratiu’s Advice On Helping Sellers Locked In To Low Mortgage Rates

On last week’s Knowledge Brokers Podcast, KCM Chief Economist George Ratiu joined Byron Lazine, Tom Toole, and Lisa Chinatti to discuss, among other things, how agents can break down the math for sellers locked into lower mortgage rates.

May 23, 2023

Housing Market

NAR Reports Existing Home Sales Are Down, But Steve Harney Remains Optimistic About Opportunities

A new NAR report shows April existing home sales have dropped month over month by 3.4% and year over year by 23.2%. Inventory of unsold existing homes grew 7.2% month over month to 1.04M—equal to 2.9 months’ supply at the current monthly sales pace.

May 23, 2023

Housing Market

Top 20 Metros for Real Estate Development over the Past Decade

A new StorageCafe report names the top 20 U.S. metros for real estate development—commercial, industrial, and residential—over the past decade. Fifteen of those 20 are in the Sun Belt, with Texas metros taking the top five spots, led by Houston.

May 19, 2023

Housing Market

Pacaso Reveals Top 15 U.S. Second Home Markets for 2023

Pacaso just released its list of the top 15 U.S. second home markets for 2023, based on Optimal Blue second home transaction data from January 1st to May 3rd. Eight of those top 15 are located in Florida.

May 19, 2023

Statue covering its face on a dark blue background with the headline 'Consumer Sentiment Lowest It’s Ever Been' and the word 'GALLUP'.

Housing Market

Consumer Sentiment Is The Lowest It’s Ever Been. Here’s How Agents Can Turn the Tide

A new Gallup report shows 21% of adult consumers in the U.S. think it’s a good time to buy a house—an all-time low for Gallup’s trend. However, 56% of Americans still expect home prices to go up.

May 18, 2023

Split image showing 'Perceptions' left with a lone man in a blue pool, and 'Reality' right with a crowded hot spring scene labeled Reality.

Housing Market

Consumers’ Housing Market Perceptions vs. Reality

The results of a new Opendoor survey reveal an inconsistency in market expectations, along with shared concerns and areas where buyers and sellers can meet in the middle.

May 16, 2023

Housing Market

Rental Market Shift: Asking Rents in the U.S. Flatten

According to a new Redfin report, asking rents across the U.S. are flattening as rental supply catches up with renter demand and vacancies rise. Continued rent increases in the Midwest and Northeast offset significant drops in Sun Belt metros.

May 16, 2023

Hot Sheet

Home Price Predictions (with and without a U.S. default on debt): Hot Sheet Recap

The Hot Sheet recap for May 8th – 12th covers what will happen to home prices, with predictions with and without a U.S. default on debt. Plus, the FHFA rescinds its DTI LLPA fee and a dip in spring housing inventory.

May 13, 2023

People stand in a line on the driveway of a beige two‑story house, attending an open house with a Zillow watermark across the image (masking visible).

Housing Market

Zillow’s April Report Shows a Strong Seller’s Market with Rising Demand and Low Inventory

Zillow’s April 2023 Housing Market Report shows a market strongly in favor of sellers as rising demand meets low inventory.

May 12, 2023

Housing Market

Home Price Sentiment Increased to Its Highest Point Since May 2022

The Fannie Mae Home Purchase Sentiment Index® (HPSI) continued its recent upward trend in April, climbing 5.5 points to 66.8—the highest since May 2022.

May 12, 2023