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US housing market is now worth a record $52 trillion: Zillow

Housing Wire

housing market is back on track , stronger than ever, with a total estimated value of $52 trillion, according to a new analysis by Orphe Divounguy, a senior economist at Zillow Group. housing market has surged by more than $2.6 Fueling this increase is new construction, according to Divounguy, even though the 1.3%

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Here’s what you can expect from the 2024 housing market

Housing Wire

Going more in-depth than a Fed meeting, our virtual Housing Market Update event provides you with the strategy-building insights needed to operate in 2024. It’s a savagely unhealthy housing market out there, and these economists unpack what that means for you. Register for the virtual event on Dec.

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DataDigest: Construction costs easing for homebuilders

Housing Wire

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. Index values for most construction inputs are down from 2022 but remain above pre-pandemic levels. Index values for December published last week.

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When will housing inventory recover?

Housing Wire

This article is part of our housing market economic update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. The housing market is heading toward an inflection point — a rebalancing that will mean the end of the record-high price appreciation we’ve seen over the past year.

Inventory 389
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Midwest housing markets good for first-time homebuyers: Zillow

Housing Wire

Headwinds like mortgage rates , low inventory and rising rents are still strong, but easing,” Zillow Senior Economist Orphe Divounguy, said in a statement. The increase in new listings this spring, due both to new construction and to more homeowners choosing to sell, will give buyers more options and help to ease price growth.

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Are we back to a normal housing market?

Housing Wire

In the last few months in my articles for HousingWire, I have written that monthly supply has been rising and that this increasing supply was the most critical metric for the housing market, specifically the new home sales market. months , which puts inventory right back into the range we had in the previous expansion.

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Unsold homebuilder inventory is ticking up as new home sales slow

Housing Wire

Homebuilders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction,” Bright MLS Chief Economist Lisa Sturtevant said. The seasonally‐adjusted estimate of new houses for sale at the end of August was 436,000.

Inventory 477