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Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

New York – The residential sales and rental markets showed further signs of cooling in late 2022. Real estate contacts in upstate New York reported that prices have flattened out, and that sales volume and buyer traffic have continued to wane — attributed in part to unusually harsh winter weather.

Inventory 383
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IS THE REAL ESTATE WINDOW CLOSING SHUT?

Will Springer Realtor

Puget Sound Business Journal this month described Bellevue’s real estate market as “arguably the West Coast’s hottest.”. We already anticipate 25,000 new Amazon employees to be based in Bellevue within a few years, but nearly every week a company is announcing the addition of 500 workers here or 1500 workers there. 1 vs. Sept.

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Millennials Expected To Maintain Real Estate Buying Intensity

Will Springer Realtor

>> The lack of inventory to keep real estate moving is confirmed with the latest data on U.S. The real estate research firm said that figure places King among the five least at-risk counties in the country, along with Chittenden County (Burlington), Vt. Starts were surprisingly 14% lower in the West. >>

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Will Springer Realtor - Untitled Article

Will Springer Realtor

A year later, the same real estate consultancy estimates the number has expanded to 2.1M, a jump of 24%. An annual survey released this month by the Federal Reserve Bank of New York said renters put the probability of ever owning a home at 40%, down from 44% last year. We are now experiencing historic shortages.

HOA 36
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Will Springer Realtor - Untitled Article

Will Springer Realtor

month backlogs of contract work, as of Q4 (latest data available), which is down from the peak of 4.8 Compounding the demand is a consumer public determined to stay put for several more years rather than dive into a real estate market clouded by higher interest rates. Kitchen and bath professionals are reporting 3.9-month

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A CALL FOR MORE ACCESSORY DWELLINGS AMID HOUSING CRUNCH

Will Springer Realtor

ADUs also help local economies by providing housing to people on the lower-to-middle economic scale to live within typically pricy urban areas that are closer to job centers and greater public transportation options. The number of new homes for sale fell 19% (4009) across the county from June to July and 9.5% of all U.S.

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JUST IN TIME: THE 15-MINUTE COMMUNITY

Will Springer Realtor

Create options for multiple modes of transport – bikes, cars and transit should all be factored in. David Goldberg, chair of the Land Use & Transportation Committee of the Seattle Planning Commission, is helping to lead the city’s own 15-minute neighborhood. based real estate research and publishing firm.

Buyers 36