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What’s Up With Housing?

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From tariffs to taxes, these politically charged topics impact building pros across the country.
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“The latest research shows that green and energy-efficient home improvements have the potential to pay dividends for buyers and sellers,” says AI president.
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What’s ahead for real estate? Is it a good time buy? Sell? Refinance? Find out what experts predict will happen to housing prices, interest rates, and more.
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The best way to ensure that your home-buying process is a confident one is to find a real estate professional who not only puts your family’s needs first, but will guide you through every aspect of the transaction with ‘the heart of a teacher.’
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72% say owning a home is their top priority when it comes to life events. Millennials also tend to equate homeownership with personal (53%) and financial (45%) success.
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The Urban Land Institute’s annual look at the year ahead focuses on technology and transformation at an uncertain moment.
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Are We About To Enter A Buyers’ Market?

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Home sales are below last year’s levels, home values are appreciating at a slower pace, and there are reports showing purchasing demand softening. This has some thinking we may be entering a buyers’ market after sellers have had the upper hand for the past several years. Is this really happening?

The market has definitely softened. However, according to two chief economists in the industry, we are a long way from a market that totally favors the purchaser:

Dr. Svenja Gudell, Zillow Chief Economist:

“These seller challenges don’t indicate we’re suddenly in a buyers’ market – we don’t expect market conditions to shift decidedly in favor of buyers until 2020 or later. But buyers certainly are starting to balk at the rapid rise in prices and home values are starting to grow at a less frenetic pace.”

Danielle Hale, Chief Economist of realtor.com:

“The signs are pointing to a market that’s shifting toward buyers. But, in most places, we’re still a long way from a full reversal.”

In addition, Pulsenomics Inc. recently surveyed over one hundred economists, real estate experts, and investment & market strategists and asked this question:

“When do you expect U.S. housing market conditions to shift decidedly in favor of homebuyers?”

Only 5% said the market has already shifted. Here are the rest of the survey results:

Are We About to Enter a Buyers’ Market? | Keeping Current Matters

Bottom Line

The market is beginning to normalize but that doesn’t mean we will quickly shift to a market favoring the buyer. We believe Ivy Zelman, author of the well-respected ‘Z’ Report, best explained the current confusion:

“With the rate of home price appreciation starting to decelerate alongside the uptick in inventory…we expect significant debate about whether this is a bullish or bearish sign.

In our view, the short-term narrative will probably be confusing, but more sustainable growth and affordability will likely be the end result.”

via The KCM Crew


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What’s Up With Housing?

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The members of Generation Z who have bought homes are the exceptions, but their spending power is growing.
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A correlation is seen between strict land use laws and the rise of home values. Home values and job growth have both risen since 2010, but home values grew much more steeply in metros with stricter land use regulations.
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According to Time Magazine, the number of female billionaires grew faster globally in 2017 than the number of male billionaires. This redistribution of wealth has seen an impact on luxury real estate both in its purchase and design attributes.
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Styles and tastes evolve constantly. So, to help keep you up to date, here are six trends to consider incorporating when your clients say they want a fresh look.
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Austin, Texas, is a shining example of how sustainability can contribute to the development and growth of a city.


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What’s Up With Housing?

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Lower-priced homes have appreciated at greater rates than homes at the upper ends of the spectrum due to demand from first-time home buyers and baby boomers looking to downsize.
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The housing market is not falling apart. We are just returning to a more normal market which, in the long run, will be much healthier for you whether you are a buyer or a seller.
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It’s not a news flash to learn that Millennials—people born between 1977 and 1996—love living in the city. But what cities and urban areas in particular do they favor?
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Early signs of a softening market, after years of sellers having overwhelming control, signal even more seller struggles into the future.
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While AI is poised to make a splash in transportation, medicine, manufacturing, and consumer tech in coming years, it also has the potential to disrupt the apartment leasing industry.
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Urban Land Institute’s survey predicts continued economic expansion, but lower rate of returns growth on CRE for the next three years.


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What’s Up With Housing?

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The Federal Housing Finance Agency recently published data on manufactured home prices for the first time.
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While the idea of a hurricane-proof home may sound far-fetched, a Florida housing startup called Arkup has created a residence that can withstand rising sea levels and Category 4 hurricanes. The key lies in its hydraulic while lifting it 40 feet above the ocean floor.
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Many who aspire to own their own place have been locked into the rental market, due to these two main problems: student loan debt and expensive down payments.
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NAHB Housing Market Index steady at a reading of 67. The HMI measuring current sales conditions rose one point to 74 and the component gauging expectations in the next six months increased two points to 74.
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American financial systems look different today, and NAR takes some credit for improvements due to its “significant advocacy support over the past decade.”
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The National Association of Home Builders is looking for a few good women, actually more than a few. Pre-apprenticeship programs help introduce women to the industry.


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What’s Up With Housing?

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A quarterly survey of 100 real estate economists found that 43% expect a buyer’s market to return in 2020, and 25% think it will happen before the end of 2019. However, 18% predict 2021, 6% pick 2022 and 9% think it will take longer.
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Statewide, home flips accounted for 5.7 percent of all home sales in the period, down 18 percent over the year and the 10th highest rate in the U.S.
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Don’t wait until disaster strikes to find out if your homeowners insurance policy has you covered. Discover the surprising truth about perils that are not included in a standard policy, and learn how to minimize your risk while saving money on premiums.
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Researchers and real estate experts say people are aware of potential risks in smart homes — and are willing to accept them.
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If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.
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Few residents knew that garage doors present a major risk; that generators silently kill; or that cleanup costs can be prohibitive even with homeowners insurance.
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New York, New Jersey and Florida remain the top three states for the risk of mortgage fraud as fraud on mortgage applications ticks up nationally.

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What’s Up With Housing?

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You don’t have to declare war with your bank account — it is possible to achieve a happy compromise. Low-cost decor that looks expensive really exists.
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The construction industry is running out of workers to build all those new condo towers, housing developments and highway projects. The shortages span the trades, with pipelayers, sheet metal workers, carpenters, concrete workers, pipefitters and welders in particularly high demand.
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If all continues on its current track, construction costs could continue to increase, and mortgage rates could reel in.
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Blueprint is a bold color choice, but not overwhelmingly so—it’s still soft enough to fit into homes full of neutrals and pastels.
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Even in a tight labor market, single-family builders are less likely to offer health, dental, and 401(k) plans compared with larger U.S. companies.
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NAHB Economist Robert Dietz offers a way to break the low inventory, high home price cycle.

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