Zelman Insights

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 ...

We have previously written extensively about the outlook for homeownership, including in a November 2016 analysis titled “Why We Believe the Homeownership Rate Has Bottomed.” Recent trends from the Housing Vacancy and ...

In 2017, we estimate that there were approximately 6.4 million home closings, inclusive of existing home transactions and new construction. We further estimate that 79% of these homes were purchased by owner-occupants, as opposed to investment ...

It is our opinion that no single data source appropriately captures consumer home improvement spending trends, with limitations for many of the often-cited statistics such as retail sales for building material locations and construction spending ...

There are several pieces of tax reform that directly or indirectly affect the housing market, but the degree to which these items matter has been a hot topic of debate since legislation was proposed and ultimately passed. The conversation has ...