#Housing Sales

More growth: 'This is arguably the strongest our local housing market has ever looked'

Home sales and prices are still surging in Washington County and Franklin County, Pa., the newest reports show. “The housing market is firing on all cylinders, showing signs of continued growth for the foreseeable future,” Craig Harshman, broker and owner of Hagerstown Management Corp., and 2021 president of Pen-Mar Realtors, wrote in an email.
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Multifamily Activity Bolsters Housing Starts, but Single-Family Production Low

Strong multifamily activity pushed overall housing starts up in August but single-family starts have dipped in response to continued supply chain and labor challenges. Total starts increased 3.9% to a seasonally adjusted annual rate of 1.62 million units, according to the latest data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
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Detroit Michigan Housing Market: Trends & Forecast 2021-2022

Investing in the Detroit housing market has been a source of contention for investors for a long time. The effects of the pandemic are visibly diminishing in 2021, and other indicators show that the city is beginning to recover its footing. When considering whether or not to add properties in the Motor City to your portfolio, keep these three current trends in mind. The city of Detroit is one of the most populous in the Midwest. It also serves as the county seat for Wayne County.

Indians spending conspicuously as Covid retreats

(MENAFN- Asia Times) After nearly one-and half years of Covid-19 induced demand slowdown, India is now witnessing a cautious return to“business as usual”, according to a Deloitte consultancy report. The nation is witnessing a consumption revival with spending shifting toward more discretionary rather than essential items. The fall in Covid-19...

Yun: Vacation-Home Sales Defy Housing Market Slowdown

The vacation-home market has boomed over the past year and is not likely to slow any time soon, even as the rest of the housing market starts to cool, Lawrence Yun, chief economist for the National Association of REALTORS®, told The Escape Home, a newsletter for second-home owners. Even as...

Some furniture does more than one thing

The kitchen table serves as both a workstation and a Lego table. But that’s not really multipurpose furniture. Multipurpose or multifunctional furniture are pieces that can be used in multiple ways. Whether you live in a small apartment or simply want to maximize your space to get more use out...

Home Shortage in America

More real estate listings are coming to the market, but that won’t be able to make up for the fact that America is short millions of homes based on population needs. That likely means home buyers will continue to face inventory shortages and a dearth of homes for sale in the future.
Yakima Herald Republic

Yakima City Council to consider new tax for affordable housing

Yakima City Council members will consider the option of a new sales tax to help fund housing projects and services when they meet Tuesday. The council voted on Sept. 7 to draft an ordinance that would implement an affordable housing sales tax in the city. A bill passed by the Legislature in the spring, House Bill 1070, allows the use of local tax revenue for affordable housing and related services.

Continued Supply Constraints Inhibiting Economic Growth and Housing

We revised downward our forecast for 2021 real gross domestic product (GDP) from 6.3 percent to 5.4 percent on a fourth quarter-over-fourth quarter (Q4/Q4) basis, while we revised upward our growth outlook for 2022 to 3.8 percent from 3.2 percent. These revisions reflect the persistence of supply chain disruptions and labor market tightness that are, in part, due to continuing COVID-19 dynamics, pushing more of our growth projection into a later time frame. Although we expect these constraints to lessen over time, they are likely to drag significantly on economic activity well into 2022 and exert additional upward pressure on prices. Additionally, we have revised upward our inflation outlook through mid-2022. As measured by the Consumer Price Index (CPI), we forecast annual inflation to end 2021 at 5.4 percent and remain above 5 percent until the second quarter of 2022, and we project the Federal Reserve’s preferred measure of inflation, the PCE deflator, to be 4.6 percent at year end. While we do expect substantial deceleration later next year, we anticipate inflation to remain elevated, with the core CPI and core PCE both remaining near 3 percent through our forecast horizon.

Home sales will cool off for the rest of this year and next: Fannie Mae

Sales of existing homes were stronger than expected in July, but Fannie Mae forecasters expect homebuyer demand to cool for the rest of this year and next, citing the lack of homes for sale as the primary impediment to sustained growth. In their latest monthly forecast, Fannie Mae economists now...

Home Search: Understanding Your Housing Market

Buying a house is exciting, intimidating and, honestly, a bit complicated. If youre like most young home shoppers, youll spend close to three months just finding your home. Its an emotional roller coaster. You might find what seems the perfect place, only to learn that its way over your target price. And that in-your-budget fixer-upper is more like a demolition zone.

Market Update: Rates Unchanged, NAHB Housing Market Index, Existing Home Sales, Fed Interest Rate Decision, New Home Sales

Mortgage rates remained relatively unchanged last week. At the beginning of the week, rates were flat, until the release of the consumer price index (CPI), which sent rates slightly lower. When data suggests an improved economy or hotter inflation, rates typically trend higher. When reports suggest that the economy and inflation are cooling off, rates tend to trend lower. The CPI showed that inflation decelerated more than expected. Then, the underlying bond market showed promising signs as well, which continued rate improvements. However, bonds eventually started losing steam in the middle of the week, leveling out rates once more.

Red-hot US housing market begins to cool

There are fewer bidding wars and homes selling above asking price. Though the demand for homes remained strong across the United States in August, there are clear signs that the housing market is past its peak. A report from residential brokerage Redfin found that pending sales across 400 metro areas...