Commentary

"The housing market is stabilizing after the turbulence of the pandemic, but the effects will be with us for a long time," said Zillow Senior Economist Jeff Tucker.

According to a new report from the National Association of Realtors (NAR), international buyers and investors purchased $53.3 billion worth of residential properties from the period between April 2022 and March 2023, a 9.6% reduction from the previous year.

Though prices have come down somewhat from their pandemic highs, new home sizes are shrinking as the price per square foot has nearly doubled in the last 11 years.

According to Redfin, the typical starter home sold for an eye-watering record of $243,000 in June 2023, up 2.1% year-over-year and up 45% from before the pandemic.

NAR reports that pending home sales nationwide rose in June, increasing in the Northeast and Midwest, while the South and West reported declines for the month.

More commentary has come through focusing on the real estate market along with news that the Fed is no longer predicting a recession in the near future.

Rebranding their U.S. Primary Mortgage Servicer Satisfaction Study to the U.S. Mortgage Servicer Satisfaction Study, J.D. Power surveyed over 11,000 people about their interactions with and trust in their mortgage servicers.

The Federal Reserve once again raised the interest rates at its Federal Open Market Committee meeting Wednesday, reaching levels last seen in 2001.

The S&P CoreLogic Case-Shiller Index found additional gains in May—the latest data made available by the report—as the top-20 major metropolitan markets reported month-over-month price increases for the third consecutive month.

Properties in California in high probability areas for wildfires experienced much slower appreciation than other properties in safer areas.