A new Redfin report outlines the conditions of the real estate market in June, as home prices soar due to a record low number of properties for sale.
Black Knight’s May Mortgage Monitor report shows a new record high for home prices after five consecutive monthly home price gains, reversing the previous year’s pullback. Home prices climbed in 27 of the 50 largest metros with the biggest increase in Hartford, CT.
Mixed data complicates macroeconomic forecasts as the June 2023 Commentary by Fannie Mae calls attention to low inventory, continued strength in the labor market, and the likelihood of recession as the Fed continues its restrictive monetary policy.
This week’s Hot Sheet recap includes updates on Jerome Powell’s testimony, the increase in builder sentiment, the fate of commercial real estate, and other industry news covered by Byron Lazine for the week of June 20th – 23rd.
Realtor.com® has issued its 2023 Forecast Update, showing a drop in mortgage rates to 6% by the end of the year, a slight decline in home prices, negative rent growth, and the total count for home sales hitting its lowest point since 2012.
This week’s Hot Sheet recap includes updates on home prices, the rental market, the state of the economy, and other breaking news covered by Byron Lazine for the week of June 12th – 19th.
The Federal Housing Finance Agency (FHFA) released its House Price Index (HPI®) for Q1 and March of 2023. House prices climbed 4.3% from Q1 2022 to Q1 2023. They also rose 0.5% compared to Q4 2022, while, on a monthly basis, they rose 0.6% from February.
A new Redfin report shows 42.9% of home sales during the three months ending April 30 involved seller concessions—just under February’s record high of 45.6% and nearly double the 25.5% from April 2022.
Housing market analysts, including those from Fannie Mae and Zillow, have conflicting forecasts about home prices. Here’s how you can talk to consumers about where home prices are expected to go.
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.
For the Hot Sheet recap for May 15th – 19th, Byron Lazine shares ways agents can address consumer fears during today’s complex market— whether discussing home prices, consumer sentiment or commercial real estate investments.
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.
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