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Are Home Prices Being Viewed With Rose Colored Glasses?

November 02, 2022 by Ryan McKeveny

Earlier this week, CoreLogic released its preliminary national home price index related to September home closings, showing a 50 basis point sequential decline on top of July and August’s decreases of 60 and 100 basis points, respectively. Given the natural lag between pending and closed transactions, the trends imply that underlying price pressure...

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affordability home pricing

Slowing Demand Driving For-Sale Inventory Higher Despite Decline in New Listings

October 12, 2022 by Kevin Kaczmarek

CoreLogic recently released detailed home price appreciation data for the month of August that showed prices declined on a sequential basis for the second straight month. The 1.2% decline over the two-month period is the first nationwide home price reversal since the Great Financial Crisis. As a reminder...

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affordability home pricing real estate services

High-End Housing in Focus as Loan Limits Rise

December 06, 2021 by Kevin Kaczmarek & Ryan McKeveny

While housing’s strength since the pandemic began has been fairly broad-based, it is informative to delineate sales trends by price point. Although overall existing home sales have started to inflect lower on a year-over-year basis in recent months, the high-end segment of the market has continued to post growth, remaining…

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existing home sales home pricing homeownership real estate services

Built-For-Rent Participants Targeting More Tertiary Markets

November 30, 2021 by Kevin Kaczmarek & Jesse Lederman

In a report titled Built-For-Rent Set to Alter New Home Landscape, we discussed the dynamics of the $60 billion of capital raised to target the white-hot built-for-rent space. Within roughly two months of the publication of our report, we have identified an additional $15 billion of ventures earmarked for deployment…

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build-for-rent home pricing

High-End Housing is Back, and For Now, It’s Outperforming

December 17, 2020 by Ryan McKeveny & Dennis McGill

Alongside the broad-based 2H20 surge in homes sales, home prices and housing demand more generally, a notable undertone has been relative outperformance within the high-end segment of the market. What had easily been the most subdued piece of the housing puzzle in 2018 and 2019 has shifted to an outsized contributor of growth...

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affordability existing home sales home pricing homeownership mortgage rates real estate services

Home Price Increases Starting to Overcome Low Mortgage Rate Benefit

October 21, 2020 by Zelman & Associates

In 2019, the median and average new home cost $321,500 and $383,900, according to the Census Bureau. However, with almost 95% of purchases financed with a mortgage, it is not the total cost, but rather the monthly payment...

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affordability home pricing macro housing mortgage rates survey

Zillow Has Ambitious iBuyer Goals, but Its Own Price Index Missed Market Shift

May 17, 2019 by Zelman & Associates

With more than 180 million unique monthly users of Zillow’s website or mobile app, the brand is clearly a dominant force with consumers. While it has historically monetized this audience indirectly through advertising sold to real estate professionals, ...

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home pricing survey

Industry Executives Quicker to Respond to Market Shifts than Economists

January 11, 2019 by Zelman & Associates

With total home closings estimated to have declined 2% in 2018, the first contraction since 2011, and inventory higher on a year-over-year basis for the first time since 2014, the home price appreciation outlook is coming under greater scrutiny ...

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home pricing survey

Why an Often-Cited Existing Home Price Measure is Probably Wrong

January 11, 2019 by Zelman & Associates

In its most recent monthly release for November 2018, the National Association of Realtors (NAR) reported that the median price for existing home closings was $257,700, bringing the year-to-date figure to $257,500. With approximately 40% of ...

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affordability home pricing

Has the New Home Premium to Existing Homes Gotten Too Wide?

October 05, 2018 by Zelman & Associates

Of late, there is an argument surfacing that new home pricing has become too expensive relative to the existing home alternative. It goes something like this: the median new home price reported by the Census Bureau over the last four quarters ...

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affordability home pricing homebuilding