Redfin reports July homes took 43 days to sell, the slowest summer pace since 2015, as pending sales hit a two-year low and prices rose 1.4% to $443,867.
During last night’s vice presidential debate, Governor Tim Walz and Senator JD Vance addressed key issues, including housing affordability and shortages.
On today’s Hot Sheet, BAM co-founder Byron Lazine discussed Friday’s employment report and subsequent market reactions, how it could impact the U.S. housing market, and how real estate agents can talk to consumers about today’s headlines.
As election year 2024 approaches, here’s what we know so far about where each presidential candidate stands on the U.S. housing market, based on what they’ve said, as well as any actions they’ve taken.
A new Zillow analysis shows the total value of the U.S. market has increased by more than $2.6 trillion year over year, climbing to just under $52 trillion, which is $1.1 trillion above the previous peak reached in June 2022.
Redfin reports signs of a housing market recovery after a trough in the second week of November 2022. Economists say recovery has begun, with homebuyers returning to the market—but sellers have been slower to jump back in.
Zillow reports the U.S. housing market is closer to “normal,” with lower mortgage rates, inventory still less than ideal but more in line with seasonal expectations, and time on market higher than a year ago but lower than pre-pandemic norms.
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