Zelman Insights

The importance of demographics to the overall housing market is widely understood and discussed, but is also often misinterpreted in our opinion. One area of heavy demographic focus today is on the “Millennial” generation and how its size, ...

Last week, the Federal Financial Institutions Examination Council (FFIEC) and the Consumer Financial Protection Bureau (CFPB) released preliminary Home Mortgage Disclosure Act (HMDA) data for 2017 mortgage originations. Released earlier than ...

When tax reform became a meaningful conversation in late-2017, there was widespread concern that de-emphasizing itemized deductions for property taxes and mortgage interest would serve as a marginal headwind to the desire for homeownership ...

There are many data points that are referenced by executives, investors and reporters to interpret the direction and position of the housing market, including existing home sales, new home sales, housing starts, the homeownership rate, home ...

Earlier this year, we dissected the impact of tax cuts on net income for different income cohorts, noting that the average individual tax filer would experience an approximate 1.5% increase in after-tax cash flow in ...

From 2011-17, the median existing home price appreciated by 5.9% per year and the median multi-family rental rate climbed by 3.5% annually. Both figures outstripped our calculation of entry-level income growth at 2.2% per year. Naturally, the ...

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, ...

At the end of 2016, the 10-year Treasury yield stood at 2.45%, the highest year-end level since 3.04% in 2013. At that time, the expectation was that yields would continue a steady upward climb due to inflationary pressures from the incoming ...

As of 2017, we estimate that there were approximately 124 million households spread across the country, represented by single-family homes (68%), 5-plus unit multi-family buildings (18%), duplexes to quadplexes (8%) and manufactured housing ...

Once a month, we survey private multi-family operators, developers, brokers and lenders to gauge fundamental trends across the sector. Our survey covers roughly 1.5 million institutional-quality units and developers that accounted for 9% of ...