Tag: home pricing

Why an Often-Cited Existing Home Price Measure is Probably Wrong

January 11, 2019 by Zelman & Associates

In its most recent monthly release for November 2018, the National Association of Realtors (NAR) reported that the median price for existing home closings was $257,700, bringing the year-to-date figure to $257,500. With approximately 40% of ...

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affordability home pricing

Has the New Home Premium to Existing Homes Gotten Too Wide?

October 05, 2018 by Zelman & Associates

Of late, there is an argument surfacing that new home pricing has become too expensive relative to the existing home alternative. It goes something like this: the median new home price reported by the Census Bureau over the last four quarters ...

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affordability home pricing homebuilding

Affordability Reportedly at 10-Year Low – Is it Fear Mongering?

August 24, 2018 by Zelman & Associates

Two weeks ago, the National Association of Home Builders (NAHB) published its Housing Opportunity Index, which is intended to frame housing affordability across the country. The index is calculated on a 0-100 scale, with higher values aligned ...

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affordability home pricing

Real Estate is Local, but the Macro Can Make or Break Your Business

July 13, 2018 by Zelman & Associates

All real estate is local. That is a truism rarely doubted. It is often meant to convey that location matters more than most else and can often overcome other challenges. Taken further, many housing market executives spend an exorbitant amount ...

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home pricing macro housing

Is the Entry-Level Affordability Crunch Real?

March 23, 2018 by Zelman & Associates

In 2017, the median existing home sold in the United States cost approximately $206,250, according to CoreLogic’s public record database, which we view as an appropriate proxy for the entry-level price point. That was 5.3% higher than in 2016, ...

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affordability home pricing macro housing

With Limited New Home Price Data, Where Do Prices Really Stand Versus Peak?

July 14, 2017 by Zelman & Associates

There are various price indices that track existing home trends with sophisticated algorithms that rely on repeat sales transactions to produce high-quality datasets, including CoreLogic, Case-Shiller, the Federal Housing Finance Agency and ...

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affordability home pricing new home sales

Don’t Be Confused, A Good Time to Sell is a Good Thing to Hear

June 16, 2017 by Zelman & Associates

Beginning in mid-2010, Fannie Mae began publishing a monthly survey of approximately 1,000 households, canvassing various perceptions related to the housing market and economy. One of the questions asked monthly is: “In general, do you think ...

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home pricing

Despite Home Price Strength, Entry-Level Affordability Still Screens Favorably

June 02, 2017 by Zelman & Associates

There are numerous home price measures that are provided by the government and private entities, both for free and at a charge, that offer market participants a general understanding of national pricing. Given a very high correlation across ...

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affordability entry-level home pricing

Are New Home Prices Rising Too Quickly?

May 19, 2017 by Zelman & Associates

According to our monthly private homebuilding survey that canvasses approximately 15% of the national production market, new orders increased 14% year over year in April, the lowest rate of growth since October and below the ...

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affordability home pricing homebuilding survey

Lumber Inflation Surrounding Canadian Tariff Just Another Pressure on Builder Costs

May 05, 2017 by Zelman & Associates

In late April, the Department of Commerce announced countervailing duties, or a tariff, on imported softwood lumber from Canada, ranging from 3-24% for the largest producers and 20% for all other mills. The tariffs were largely expected by ...

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home pricing homebuilding