From our friends in KCM
If you’re planning to buy a home, one thing to consider is what experts project home prices will do in the future and how that might affect your investment. While you may have seen negative news over the past year about home prices, they’re doing far better than expected and are rising across the country. And data shows, experts forecast home prices will keep appreciating.
Experts Project Ongoing Appreciation
Pulsenomics polled over 100 economists, investment strategists, and housing market analysts in the latest quarterly Home Price Expectation Survey (HPES). The results show what the panelists project will happen with home prices over the next five years. Here are those expert forecasts saying home...
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From our friends in KCM
You might remember the housing crash in 2008, even if you didn’t own a home at the time. If you’re worried there’s going to be a repeat of what happened back then, there’s good news – the housing market now is different from 2008.
One important reason is there aren’t enough homes for sale. That means there’s an undersupply, not an oversupply like the last time. For the market to crash, there would have to be too many houses for sale, but the data doesn’t show that happening.
Housing supply comes from three main sources:
Homeowners deciding to sell their houses
Newly built homes
Distressed properties (foreclosures or...
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By: KCM
Have you been trying to buy a home, but higher mortgage rates and home prices are limiting your options? If so, here’s some good news – based on what Ali Wolf, Chief Economist at Zonda, has to say – smaller, more affordable homes are on the way:
“Buyers should expect that over the next 12 to 24 months there will be a notable increase in the number of entry-level homes available.”
In some ways, smaller homes are already here. When the pandemic hit, the meaning of home changed. People needed the space their home provided not only as a place to live, but as a place to work, go to school, exercise, and more. Those who had that...
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Modern farmhouses and beyond.
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Stanly Ranch, an Auberge resort in Napa, California, isn’t your typical hotel. Instead of one big elevator building, a slew of modern black houses dot the 700-acre property. The sleek villas served as an inspiring setting for Behr’s annual color of the year announcement. The paint purveyor revealed today that Cracked Pepper is its top choice for 2024, and it’s a no-brainer as to where to use it. “It’s the perfect exterior color,” says Sarah Fishburne, Home Depot’s director of trend and design.
Photography by Emily Dorio
Of course, the “soft black,” as Erika Woelfel,...
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By: CALCULATEDRISK BY BILL MCBRIDE
On Friday, in Part 1: Current State of the Housing Market; Overview for mid-August I reviewed home inventory and sales.
House Prices
Reported YoY house price growth remained negative in May, with the Case-Shiller National Index down 0.5%.
The MoM increase in the seasonally adjusted Case-Shiller National Index was at 0.74%. This was the fourth consecutive MoM increase following seven straight MoM decreases.
Most measures of house prices have shown an increase in prices over the last several months, and a key question is Will house prices decline further later this year?
Other measures of house prices suggest prices will be up YoY soon in the Case-Shiller index. The NAR reported median prices were down 0.9%...
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The National Housing Trust will likely use some of the funding to modernize homes to be more climate-friendly—which should also drive down rents.
By: Fast Company
When Priya Jayachandran received an email from MacKenzie Scott’s foundation informing her that it was donating $10 million to her organization, she thought it was a hoax. She almost deleted the message.
But the offer was legitimate. Scott’s philanthropic organization, Yield Giving, is providing National Housing Trust, founded in Washington, D.C., in 1986, with a onetime donation of $10 million—the largest NHT has ever received—to further its work. That includes creating and preserving affordable housing, supporting affordable rent payments for tenants, and making the homes more...
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Written by : Erik J. Martin
Mortgage rates remain high, home sales — and in some areas, home prices as well — are hitting the brakes, and uncertainty is permeating the market. It’s no wonder many homeowners, prospective sellers and hopeful buyers are feeling nervous.
As of July 5, the average 30-year fixed mortgage rate was once again flirting with 7 percent (6.95 percent to be exact, according to Bankrate’s survey of large lenders). The Federal Reserve raised rates for 10 meetings in a row in an effort to curb inflation, before taking a pause at its recent June meeting. And sales of previously owned homes are down more than 20...
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From our friends in KCM
Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to think about the long-term benefits of homeownership when making your decision.
Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how home values grow with time and how, by extension, that grows your own wealth. That may be why, in a recent Fannie Mae survey, 70% of respondents...
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By Aarthi Swaminathan
The numbers: U.S. pending-home sales fell in May, the National Association of Realtors said on Thursday but the housing market is still showing signs of being in recovery mode.
Demand for homes is still strong, despite mortgage rates hovering near 7%, but buyers are finding few properties for-sale to choose from as homeowners hold out on selling.
The shortage in housing inventory has become so dire that it’s pushed pending home sales down in the spring, which is generally the peak season for home-buying.
Sales fell by 2.7% from the previous month, according to the monthly index released Thursday by the National Association of Realtors (NAR).
The figure fell short of...
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MARKETWATCH | By Taylor Getler
Overwhelmingly, home buyers view finding the right home as the hardest part of the buying process. There’s so much to consider: What can I afford? How much space do I need? And the most harrowing question of all — what am I willing to give up?
This question is even more loaded for LGBTQ+ buyers, who may face the added pressure of evaluating a new community for safety and comfort.
Social attitudes have dramatically shifted from the days where queer and transgender buyers were concentrated in just one or two neighborhoods, points out Barbara Stone, a Realtor in Dallas, Texas. Today, the community is made up...
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