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Exploding Housing Demand Viewed in Different Context

December 10, 2020 by Dennis McGill

While robust for-sale housing demand of late has commonly been explained with a pandemic tilt, we believe that the vast majority of the strength has been catalyzed by record low mortgage rates. Not only have mortgage rates...

Filed Under | existing home sales macro housing mortgage rates

Immigration Policy Likely to be a Net Positive for Housing Under Biden

December 07, 2020 by Ivy Zelman, Dennis McGill & Alan Ratner

With President-elect Joe Biden set to occupy the White House on January 20th, there has been a lot of discussion about the potential impact of tax reform, student debt forgiveness and a proposed homebuyer tax credit on the housing market. Ultimately, a lot will depend upon the outcome of...

Filed Under | demographics homebuilding homeownership household formation macro housing

What a Democratic Sweep Could Mean For Housing?

October 29, 2020 by Ivy Zelman

As we enter the final days prior to the election, I can’t help ponder what the outcome of a Democratic sweep could mean for housing and our country, which appears to be a real potential outcome. To stay away from my political views, I’ll focus on what a sweep would mean specifically for the housing market...

Filed Under | existing home sales homebuilding household formation macro housing mortgage new home sales

Home Price Increases Starting to Overcome Low Mortgage Rate Benefit

October 21, 2020 by Zelman & Associates

In 2019, the median and average new home cost $321,500 and $383,900, according to the Census Bureau. However, with almost 95% of purchases financed with a mortgage, it is not the total cost, but rather the monthly payment...

Filed Under | affordability home pricing macro housing mortgage rates survey

Home Improvements Among Pandemic Spending Winners – Can It Sustain?

August 11, 2020 by Zelman & Associates

In 2019, growth in consumer expenditures was solid, increasing 4% from 2018, a trend that continued into January and February of this year with consistency across spending avenues. However, the pandemic upended consumer habits and priorities...

Filed Under | home improvement macro housing

Unemployment Not a Problem in For-Sale Market - Too Good To Be True?

June 19, 2020 by Zelman & Associates

As we recently explored in our Unemployment and Housing report, contrary to perception, spiking unemployment of late has cast a wide net, reaching across ages and income cohorts. While the traditional overhang...

Filed Under | demographics macro housing

Strong Aggregate Jobs Numbers as Housing Read-Throughs Stay Positive

February 21, 2020 by Zelman & Associates

Following December’s shortfall to headline expectations, the January employment report rebounded favorably on an overall basis and factors most influential to housing remained positive. Notably ...

Filed Under | macro housing

Residential Construction Warning of Nearing Recession?

August 23, 2019 by Zelman & Associates

Through the first seven months of 2019, residential construction for single-family and multi-family projects has trailed the prior-year period across the board. Specifically, single-family permits and starts are both down 3% while multi-family ...

Filed Under | apartments homebuilding macro housing

The Latest on Homeownership and Housing Supply

July 26, 2019 by Zelman & Associates

Yesterday, the Census Bureau released its quarterly Housing Vacancy Survey (HVS), which is intended to measure the occupancy and ownership status of the nation’s housing stock. Although the second quarter release indicated a sequential decline ...

Filed Under | homeownership macro housing

Mischaracterization of Single-Family Investors Impacts Perceived Demand, Risk

July 12, 2019 by Zelman & Associates

In a blog post in late June (Don’t Call it a Comeback: Housing Investors Have Been Here for Years), CoreLogic raised some eyebrows with the conclusion that “in 2018, the share of home sales bought by investors reached its highest level in two ...

Filed Under | institutional investors macro housing