Nationally, new home sales have increased their downward slide and have been down over 13% for every month of 2022. Compared to May 2020, at the height of the shutdowns, the decline was only 10%.
At the end of the first quarter of 2022, the average borrower had $280,000 in home equity — this is a gain of $64,000 over the past year and $125,000 over the past five years. This has led to increased cash-out refinancing and remodeling activity.
Increases in global wealth has spurred demand for luxury homes in both traditional markets as well as those that have not previously been considered to be luxury markets.
Home buying has remained relatively affordable due to historically low mortgage interest rates, but increasing mortgage rates are cutting into buyer affordability.
U.S. Home prices soared in 2021, pushed up by strong demand and a limited supply of homes for sale.
Although home price gains are expected to slow in 2022 and average a little less than 10% growth for the year, the recent rapid acceleration in prices has led to overvaluations in some markets, therefore pushing up the risk of price decline in the year ahead.
2021 was a strong year for the U. S. housing market. Home price appreciation was in the double digits and sales volume was near pre-pandemic levels.
More money is being spent on real estate than ever before.
Soaring Rents in the Southwest Go Underrepresented in Inflation Last month we showed that U.S. inflation may be underestimated due to the use of a measure called owners’ equivalent rent, which makes up 30% of the core consumer price index. When the CoreLogic single-family rent index is used as an...
2020 altered and realigned the real estate market in many ways, but aside from a brief blip, things have remained business as usual for house flippers.
Investor activity in real estate markets during the COVID-19 pandemic has mirrored the market as a whole.