Market Studies

Realtor.com reports that after four months of slowing inventory growth, active listings declined annually in July for the first time in more than a year.

"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.

HUD has awarded eight communities with grants geared toward the promotion of innovative collaboration necessary to tackle lingering affordability issues in the housing space.

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.

“While the continued imbalance between buyers and sellers continues to pressure home prices, June’s annual bump in price growth echoes economic resiliency, a thriving U.S. job market, and strong consumer spending,” said Selma Hepp, CoeLogic Chief Economist.

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.

The mortgage rate tipping point—the rate that will allow homeowners to move—has advanced above 5%, with a Zillow report finding those above this rate are nearly twice as likely to plan to sell their home than those with a rate below 5%.

According to Redfin, nearly half of U.S. residents who moved in the last year believe the frequency of weather events will likely impact home values in their area within the next 10 years.

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.