#housing-market

#housing-market

Homeownership in the US is declining, particularly among younger adults, due to high mortgage rates and falling home sales.

Mortgage rates have increased to the highest level since May, discouraging homebuyers and prolonging a national sales slump.

Pending home sales decreased by 5.5% in December despite strong previous months, largely due to rising mortgage rates and market uncertainties.

Mortgage rates decreased slightly this week to 6.96%, providing relief for homebuyers amid ongoing economic challenges.

Kevin Thompson emphasizes the critical need for increasing housing supply to enhance the market's health.

Foreclosure activity in the U.S. declined significantly in 2024, indicating a stabilizing housing market amidst economic uncertainties.

Unsold home inventory is increasing due to weak demand, particularly in the condo market, influenced by high mortgage rates.

Cambridge attracts millennials despite high housing costs, due to its vibrant community and affluent demographic.

Southern housing markets are experiencing robust growth, led by Lakeland, Florida, Austin, Texas, and Raleigh, North Carolina.

2024 recorded the lowest existing home sales in nearly three decades, primarily due to elevated mortgage rates.

Wildfires in LA County risk over $40 billion in real estate value.

The reconstruction cost after the wildfires could exceed $13 billion.

A substantial portion of property value lies in land alone.

LA's housing shortage continues to grow, exacerbated by wildfires.

Mortgage rates have increased to 7%, complicating an already challenging housing market.

Landlords in Los Angeles have significantly increased rent prices after recent wildfires, violating local laws against price gouging.

London's rental prices vary significantly by Underground station, with the average rent reaching £931 per month across the city.

State law restricting high rental prices is limiting options for wildfire victims seeking housing in Los Angeles.

Remote workers in Vermont earn significantly more than in-person workers, prompting concerns about housing availability.

Demographic differences exist between remote and in-person workers in Vermont.

Providence is experiencing rapid rental cost increases due to high demand and a housing shortage, making it a challenging market for renters.

Fed Chairman Powell indicates that increasing layoffs may rapidly raise unemployment rates, while the housing market remains at risk due to high mortgage rates.

President Trump's advocacy for lower global interest rates aims to bolster the economy and stave off a housing recession.

Home buyers may benefit from lower interest rates and rising salaries this year.

Rising mortgage rates are largely driven by strong economic conditions and robust employment figures.

Monitoring builders' outlook is crucial as declining sales expectations and high mortgage rates indicate future challenges in the housing market.

Mortgage rates exceeding 7% signify the end of affordable homeownership like when rates were around 3%.

The current housing market is marked by reduced inventory and increased rental dependency.

Mortgage rates have slightly declined but remain high due to economic uncertainty and inflation.

There is a slight increase in mortgage applications, indicating potential buyer interest amid ongoing affordability challenges.

The 10-year yield's stability signals potential change in Fed's approach to rates and mortgage concerns.

Homebuilders are increasingly alleviating buyer burdens through mortgage buydowns, easing entry into a tough housing market.

Home prices in once-affordable cities are rising dramatically, making housing less attainable for locals.

Housing costs are escalating due to supply-demand dynamics and inflation, pushing many to consider house-hacking as a viable income strategy.

Build-to-rent (BTR) rentals are expanding significantly, addressing affordable housing shortages and benefiting renters due to high mortgage rates.

U.S. home prices are forecasted to rise by an average of 2.7% in 2025, though regional variations are significant.

Home prices continue to rise due to limited inventory and pent-up demand despite some localized declines.

Tampa and other metros showed notable price decreases in December, while Nassau County topped annual price growth.

Home prices are rising, yet 2024 sales reached their lowest in nearly 30 years, indicating a challenging market.

Detroit tops the U.S. in single-family rental price growth at 6.1% annually, reflecting a trend towards budget-friendly living in the Midwest.

London's housing is increasingly unaffordable; first-time buyers spend 36% of income on mortgages despite slight easing in affordability pressures.

New home mortgage applications rose 8.9% year over year in December 2024, indicating a robust market despite a slight month-to-month decrease.

Regional housing markets are shifting, providing homebuyers with increased leverage despite national trends favoring sellers.

Ridgewood, Queens is leading the NYC housing market for affordability and desirability, with rising rents and prices driving demand.

Canada's housing starts increased by 2% in 2024, but still fall short of the required levels to address affordability.

As boomers age, their home ownership is expected to shift, impacting housing inventory, particularly in Rust Belt markets.

HOA fees are rising and becoming more common for homeowners, significantly impacting overall housing costs.