Zelman Insights
Exclusive insights and analyses from our industry-leading research team
Across-the-Board Upside for Public Homebuilder Third Quarter Key Metrics
November 15, 2019 by Zelman & Associates
Filed Under
homebuildingstocks
Public Apartment REITs Post Solid Growth, but Monitoring Signs of Moderation
November 15, 2019 by Zelman & Associates
Filed Under
apartmentsstocks
Data Conflict With Single-Family Rental Bull Thesis
October 18, 2019 by Zelman & Associates
We have always been of the opinion that the type of housing demanded by consumers is heavily dependent on demographic circumstances and life events. In general, single-family housing skews to families and suburban living while multi-family ...
Filed Under
homeownershipsingle-family rental
Continuing Streak, Housing Stocks Big Winners Again in Third Quarter
October 04, 2019 by Zelman & Associates
Our firm produces stock price indices for eight sectors where we provide equity research coverage, presently capturing roughly 80 companies and almost $800 billion of market capitalization. In 3Q19, the S&P 500 increased 1.7%, following ...
Young Adults Living at Home Still Stuck Near Record Highs
October 04, 2019 by Zelman & Associates
A central theme of the current housing recovery has been an elevated share of young adults living at home with their parents or grandparents, which has hindered household formation and downstream housing demand. According to the latest Annual ...
Filed Under
demographicsmillennials
If New Home Demand is So Strong, Why Has Start Activity Been So Lackluster?
September 20, 2019 by Zelman & Associates
This week, the Census Bureau reported its estimate for August single-family housing starts and permits. Positively, seasonally-adjusted starts accelerated to an annualized pace of 919,000, representing the strongest level since January and ...
Filed Under
housing startsnew home salessurvey
Contrary to Perception, Little Difference Between Young and Old DTI Ratios
September 06, 2019 by Zelman & Associates
Earlier this week, Home Mortgage Disclosure Act (HMDA) data for 2018 was released. The annual dataset is enormous and serves as the primary baseline for most analyses of the mortgage market and its participants. This year also includes numerous ...
Filed Under
affordabilitymortgage
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
apartmentshomebuildingmacro housing
Alarming Increase in Mortgage Debt-to-Income Ratios Reverses Course
July 26, 2019 by Zelman & Associates
Late last year, the average mortgage debt accumulated by homebuyers relative to their income was quickly rising, which was attributable to home price appreciation outpacing income growth, spiking mortgage rates and more lenient underwriting ...
Filed Under
affordabilitymortgage
“Steep Slowdown” on the Horizon for Home Improvements?
July 26, 2019 by Zelman & Associates
Last week, The Joint Center for Housing Studies of Harvard University (JCHS) released its Leading Indicator of Remodeling Activity (LIRA) with a concerning headline: “Steep Slowdown Projected in Home Improvements.” We first wrote about the ...
Filed Under
home improvementsurvey
affordabilityapartmentsbaby boomersbuild-for-rentconstruction lendingdemographicsentry-levelexisting home saleshome improvementhome pricinghomebuildinghomeownershiphousehold formationhousinghousing startsinstitutional investorsinterest ratesmacro housingmillennialsmortgagemortgage ratesnew home salesreal estate servicesrefinancesg&asingle-family rentalstocksstudent debtsupplysurvey