New U.S. housing starts registered the biggest monthly increase in more than 30 years in May, but some experts raised doubts about whether the trend is sustainable. “Privately owned housing starts in May were at a seasonally adjusted annual rate of 1,631,000. This is 21.7 percent above the revised April estimate of 1,340,000,” according to…
Housing Starts See Biggest Monthly Gain Since 1990, but Trend Unsustainable
June 21, 2023
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US Homes for Sale Fall Nearly 40 Percent Amid Tight Market Conditions
June 16, 2023
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The number of homes for sale has declined from pre-COVID-19 pandemic levels, with high mortgage rates discouraging prospective sellers from putting their properties on the market, said real estate brokerage Redfin. There are now 39 percent fewer homes for sale on the market compared to five years ago in June 2018, according to a June…
3D-Printed Homes Hit the Market in Texas
A housing project has put up 3D-printed homes for sale in the Austin region, which is said to be the first such project in the United States. The project, first announced by construction startup Icon last year, is being built at Wolf Ranch, a master planned community in the city of Georgetown, Texas, located 25 miles…
US Housing Market in Ongoing Monthly Decline
May 23, 2023
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The U.S. housing market continued to show signs of decline as mortgage applications and sales of existing homes fell while properties are taking longer to get sold. Mortgage applications for new home purchases dropped by 11 percent in April 2023 compared to March, according to a Mortgage Bankers Association May 19 press release. “Since the…
Home Prices Jump in Nearly 70 Percent of Residential Markets in First Quarter
May 10, 2023
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U.S. home prices rose in a majority of markets during the first quarter of the year, with around one in 14 markets seeing a double-digit increase in prices. Single-family existing-home sales prices rose in 152 of the 221 tracked markets in Q1, 2023, according to a May 9 press release by the National Association of…
New-Home Sales ‘Unexpectedly Rise’ in March to Highest Level in a Year
April 25, 2023
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New-home sales in the United States rose last month even though home prices increased during this period, with easing mortgage rates possibly boosting buying activity. Sales of new single-family homes in March 2023 rose by 9.6 percent to 683,000 from 623,000 in February, according to an April 25 press release (pdf) by the U.S. Census…
Moody’s Forcasts 10 Percent Fall in House Prices Over Next 2 Years Amid Higher Rates
April 24, 2023
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The American housing market may fall even further as rising mortgage rates suppress demand and the stock of new homes begins to grow, according to Moody’s. Home prices are expected to tumble between 5 and 10 percent over the next two years, Moody’s economist, Matthew Walsh, told Yahoo Finance in an April 18 interview. Walsh noted a…
Housing Payments Rise Across US Despite Fall in Home Prices
April 22, 2023
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Even though U.S. home prices have fallen by their biggest margin in over ten years, monthly housing payments have hit a record high, according to real estate brokerage Redfin. Median home-sale price fell 2.6 percent from a year back during the four weeks ending April 16, Redfin said in a press release Thursday—the biggest decline in…
Record Share of Americans Relocating to New Metro Areas
March 29, 2023
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Over a quarter or 25.1 percent of house hunters in the United States were seeking to relocate to a new metropolitan area in February, according to real estate company Redfin. The interest to relocate registered at 22.9 percent in 2022, and approximately 18 percent prior to the pandemic. The latest number is a record high,…
American Housing Market Loses $2.3 Trillion of Value
February 24, 2023
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The U.S. housing market lost more than $2 trillion in home value during the second half of 2022 as homebuyer demand waned amid elevated mortgage rates, even as home prices fell 11.5 percent from their May peak, according to real estate brokerage Redfin. At the end of 2022, the total value of U.S. homes was…
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