While accumulated home equity is benefitting current owners, those trying to enter the housing market are facing significant affordability challenges this year. Read the April 2024 edition of our S&P Case-Shiller Index report for data and insights from Chief Economist Selma Hepp, PhD: https://clgx.co/3L0XC9c
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As global markets continue to navigate unprecedented challenges, the housing market stands at the forefront of a significant downturn. Home prices are plummeting nationwide, resulting in a volatile environment for homeowners and potential buyers alike. What’s behind this alarming trend? How will it impact the broader economy? And what does this mean for you? Our latest article investigates the driving factors behind this decline, including COVID-19's ripple effects and an oversupply of housing in certain areas. We also delve into the potential ramifications for homeowners, the overall economy, and potential buyers. Finally, we examine the potential stabilizing role of government interventions and market forces. Stay ahead of the curve. Understand the current housing market scenario and what it means for your financial planning and decision-making. Read more here: https://lnkd.in/dnN3QzH5 #FundWise #HousingMarket #Economy #Finance #RealEstate #COVID19 #Investments
Housing Market in Turmoil as Home Prices Plummet
https://fundwise.uk
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Despite economic uncertainties, the housing sector has defied all odds, with demand driving consistent price hikes. In this brief analysis, we unravel the dynamics and remarkable resilience that has propelled the U.S. housing market amidst an ever-changing financial landscape. Read the full article to gain insights: https://lnkd.in/dc7FcYTp #ColumbusInternational #HomeIsWhereWeAre #HousingMarket #EconomicResilience #RealEstate #AgenziaImmobiliare #RichardTayar
U.S. Housing Market Defies Odds
https://columbusintl.com/en/
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Market Forecast Sees Little Change Ahead. Fannie Mae's Economic and Strategic Research Group sees little change ahead for the housing market, according to its most recent monthly forecast. The group's September release says they believe the economy will slow as we head into early 2024 but they see little downside risk to home sales due to continued demand from buyers. In today's market, home sales are being driven more by life events than discretionary factors, the group says. That means demand should remain steady and – with the ongoing shortage of available homes for sale – it'll help support home values while also contributing to the strength of the new home market. Doug Duncan, Fannie Mae's senior vice president and chief economist, says interest rate policy will keep things from changing too drastically in the near future. “We expect that total housing market activity will remain at a low level into 2024 as the Federal Reserve continues to hold the line on interest rates against inflation,” Duncan said.
Market Forecast Sees Little Change Ahead
eliasgrouprealty.com
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What is an overvalued market vs and undervalued market? Macro data can obscure more localized information. It can change over time based on a variety of market inputs.
Where has housing affordability increased and decreased the most? As my colleague Mark Fleming explains in his latest piece, there are more overvalued markets today than in July 2022 (the last time First American published this analysis). However, today, more markets remain undervalued than overvalued. Read the full analysis here: https://lnkd.in/epu8gtxT
An Overvalued Housing Market May Be Returning
blog.firstam.com
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Where has housing affordability increased and decreased the most? As my colleague Mark Fleming explains in his latest piece, there are more overvalued markets today than in July 2022 (the last time First American published this analysis). However, today, more markets remain undervalued than overvalued. Read the full analysis here: https://lnkd.in/epu8gtxT
An Overvalued Housing Market May Be Returning
blog.firstam.com
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🏡 What to Expect in the 2024 Housing Market 📈 The housing market is always a topic of interest and speculation, especially when it comes to the future. 🤔 If you're curious about what lies ahead, check out this insightful article by Franklin Carroll, Kukun's VP of Modelling and Analytics. He discusses the key trends and predictions for the housing market in 2024. 📊
What to Expect in the 2024 Housing Market [Key Considerations]
https://mykukun.com/blog
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Worried about the 2024 housing market? Discover the surprising truths about interest rates, affordability, and prices that you won't want to miss in our latest article! Don't let common myths steer your decisions. Dive in now! #RealEstate #HousingMarket #2024MarketInsights
Breaking Down the 3 Biggest Myths About the 2024 Housing Market
spokanemortgageguy.com
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Hoping for a housing market crash to lower home prices? Think again. Current data suggests that a price drop is unlikely. Instead, expect prices to rise. Here's a simplified explanation: 𝐓𝐢𝐠𝐡𝐭𝐞𝐫 𝐋𝐨𝐚𝐧 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬 𝐁𝐞𝐧𝐞𝐟𝐢𝐭 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 Gone are the days of easy loans that led to the 2008 crisis. Stricter lending criteria now protect the market from similar downfalls. 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 𝐈𝐧𝐯𝐞𝐧𝐭𝐨𝐫𝐲 𝐊𝐞𝐞𝐩𝐬 𝐏𝐫𝐢𝐜𝐞𝐬 𝐒𝐭𝐚𝐛𝐥𝐞 Unlike the surplus during the crisis, today's shortage of homes for sale means prices aren't likely to plummet. 𝐇𝐨𝐦𝐞𝐨𝐰𝐧𝐞𝐫𝐬 𝐚𝐫𝐞 𝐌𝐨𝐫𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥𝐥𝐲 𝐏𝐫𝐮𝐝𝐞𝐧𝐭 Unlike in the early 2000s, homeowners today aren't using their equity for lavish spending, making the market more stable. The evidence points to a market vastly different from 2008, with no signs of a major downturn. #HousingMarket #HomePrices #realestatetrends2024 #SmartInvesting #MarketInsights
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Hoping for a housing market crash to lower home prices? Think again. Current data suggests that a price drop is unlikely. Instead, expect prices to rise. Here's a simplified explanation: 𝐓𝐢𝐠𝐡𝐭𝐞𝐫 𝐋𝐨𝐚𝐧 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬 𝐁𝐞𝐧𝐞𝐟𝐢𝐭 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 Gone are the days of easy loans that led to the 2008 crisis. Stricter lending criteria now protect the market from similar downfalls. 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 𝐈𝐧𝐯𝐞𝐧𝐭𝐨𝐫𝐲 𝐊𝐞𝐞𝐩𝐬 𝐏𝐫𝐢𝐜𝐞𝐬 𝐒𝐭𝐚𝐛𝐥𝐞 Unlike the surplus during the crisis, today's shortage of homes for sale means prices aren't likely to plummet. 𝐇𝐨𝐦𝐞𝐨𝐰𝐧𝐞𝐫𝐬 𝐚𝐫𝐞 𝐌𝐨𝐫𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥𝐥𝐲 𝐏𝐫𝐮𝐝𝐞𝐧𝐭 Unlike in the early 2000s, homeowners today aren't using their equity for lavish spending, making the market more stable. The evidence points to a market vastly different from 2008, with no signs of a major downturn. #HousingMarket #HomePrices #realestatetrends2024 #SmartInvesting #MarketInsights
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One other area of strength for the economy has been higher home values. This has led to more equity for homeowners as the total hit over $16 trillion in the month of June. Looking at tappable equity, which is the amount most lenders will allow you to take out while still leaving 20% equity in the home, it rose to $10.5 trillion, just 4% off the peak that was hit in 2022. This means per homeowner there is roughly $200,000 worth of tappable equity. The only problem here is the cost to utilize that equity has grown substantially with rising interest rates. I do believe as rates normalize over the next couple of years this could provide a nice resource for consumers to continue to grow the economy. I will also say that people worry about a potential 2008 type recession, but with all the home equity I don’t foresee anything remotely similar. Just 344,000 homeowners across the country currently owe more than what their properties are worth and only 3.9% of homeowners have less than 10% equity which compares to 6.6% in 2019. Overall, I continue to believe the economy will be alright. #economy #homeprice #homeowners #equity #realestate #interestrates #property #recession #consumers
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