Tag Archives: Robert Dietz

U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing in February on the topic of “The State of Housing 2023” with three highly placed witnesses to give testimony to the committee addressing current challenges and forecasts of what to expect in real estate this year.

Although all 20 cities analyzed by S&P CoreLogic Case Shiller in its NSA Index notched double-digit price increases for the 12 months ending in April, home prices slid slightly compared to March’s totals.

With residential construction continuing to slow, the Fed’s rate hike of last week and its ripple effect on mortgage rates may push housing starts down for months to come.

Homebuilder confidence declined for the fifth consecutive month, as the cost of building materials were up by more than 19% year-over-year.

Led by a double-digit gain in multifamily activity, housing permits rose 0.4% from February, and were 6.7% higher year-over-year.