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Millions will enter housing market in 2021: Zillow

Housing Wire

And now, with the COVID-19 vaccine circulating and the economy slowly regaining strength, Zillow researchers say millions of additional households could enter the housing market in 2021. Specifically, housing markets like Portland, Maine , Bay City, Mich. markets; by December 2020, prices were already up 23.6%

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How the housing market will evolve in 2023

Housing Wire

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. As a result, the local housing market is going to be subdued in 2023, especially in the first half of the year. most likely by mid-year.

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Even with falling rates, the housing market is shaping up to be bad in Q4

Housing Wire

Both a pullback in demand and limited supply remain vexing problems for the housing market. Total housing inventory at the end of October was 1.22 Unsold inventory sits at a 3.3-month months in October 2021. The median existing-home price for all housing types in October was $379,100, up 6.6%

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The nation’s housing market is on a correction course

Housing Wire

Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experience over the past year, according to the recently released Federal Reserve Beige Book for July. Freddie Mac projects that home-price growth will average 12.8%

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Homeowners gain $9.1 trillion in housing value in 2021

Housing Wire

trillion of housing value over the last year, according to a report published by Redfin this week. The report noted that home-price growth and a severe shortage of inventory worked in tandem to push housing values to record highs in 2021. As a result, the value of U.S. homes grew by 31.4%

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A closer look at housing markets across the country

Housing Wire

Local markets spotlights 5 different areas across the country, showcasing what is uniquely happening in those housing markets. Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. The “Queen city of the Ozarks” needs more homes.

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Build-for-rent is a bet on the ‘new normal’ housing market

Housing Wire

One slice of the single-family home market that has gained traction over the past year in a topsy-turvy housing landscape is the build-for-rent sector — or BFR. The Northmarq report points out that the BFR sector currently accounts for only a small slice of overall home starts, at about 6%.