All articles tagged with #housing prices
Online prediction markets such as Polymarket and Kalshi now let people bet on whether U.S. and major metro home prices will end the month within a range, underscoring a broader shift toward treating homes as tradable assets and prompting debate over usefulness, hedging, and who benefits from price discovery.
The Boston Foundation's annual report indicates that housing prices and rents in Greater Boston continue to rise sharply, making homeownership increasingly unaffordable for middle-class residents.
The median age of first-time homebuyers in the US has increased to 40 due to high home prices and mortgage rates, leading to delayed homeownership and a significant decline in first-time buyer market share to 21%, the lowest since 1981. This shift could result in Americans losing approximately $150,000 in home equity over a lifetime, with older, wealthier buyers dominating the market.
In September, U.S. home sales increased by 1.5% due to falling mortgage rates, reaching the highest pace in seven months, while prices remained high with a 2.1% annual increase, driven by tight supply and strong demand, especially at the high end of the market. Inventory levels rose but remain below pre-COVID levels, and first-time buyers are gaining ground amid favorable borrowing conditions.
Rising housing prices and mortgage rates since 2020 have led many Americans to delay or reconsider having larger families, with some opting for smaller families or remaining childless due to financial constraints.
The US real estate listings market has experienced a significant rebound, marking its busiest week in four years, indicating increased activity and potential recovery in the housing sector.
ABC News has launched a Price Tracker tool that provides detailed regional and national data on the prices of essentials like groceries, utilities, housing, and gas across the 100 largest U.S. metro areas, helping consumers understand current and historical cost trends amid rising inflation.
In July, existing home sales increased by 2% to 4.01 million units, with prices reaching a record high for July at $422,400, amid rising inventory levels and a potential market inflection point where affordability improvements are boosting sales. The market shows signs of slowing price growth, longer selling times, and increased investor and cash buyer activity, influenced by higher mortgage rates and changing supply dynamics.
China's property market continues to decline, with falling home prices, contracting investment, and the potential delisting of Evergrande, highlighting ongoing consumer fragility and economic challenges.
The NAR report shows a 2.7% decline in U.S. existing-home sales in June, with a record high median price of $435,300 driven by low inventory and high mortgage rates, which are impacting first-time buyers. Sales decreased in most regions except the West, and the market faces challenges from undersupply and elevated mortgage rates, though a potential decline in rates could boost future sales.
In May, home sales in the US increased slightly by 0.8%, with prices reaching a record high of $422,800, driven by strong demand and increased inventory, despite high mortgage rates. Sales were strongest in the Northeast, and the market shows signs of slowing at the upper end, with homes taking longer to sell and fewer first-time buyers. A potential decrease in mortgage rates could boost sales further later this year.
Redfin predicts a potential housing market bubble deflation in 2025, with housing prices expected to drop and a shift towards a buyer's market due to increased listings and higher mortgage rates, which are forecasted to remain around 6.8% through the year.
The U.S. housing market is experiencing a slowdown with sluggish home sales and reduced construction activity due to economic uncertainty, high mortgage rates, and rising home prices, leading many potential buyers to delay purchasing homes and builders to cut prices amid increased inventory.
Donald Trump's proposed immigration policies, including mass deportations and high tariffs on imported goods, could significantly impact the U.S. housing market. Deporting undocumented workers, who make up a substantial portion of the construction workforce, could increase home construction costs due to labor shortages. Additionally, tariffs on building materials could raise costs, although they might also encourage domestic production. Trump's tax policies could boost housing demand, but the combined effect of tariffs and tax cuts might lead to inflation, affecting Federal Reserve interest rate decisions and keeping borrowing costs high.
The U.S. stock market, gold, and housing prices have all reached unprecedented highs, with the S&P 500 nearing 6,000 and the Dow close to 44,000. Despite high mortgage rates, the U.S. economy and household net worth are also at record levels. Surprisingly, the Detroit Lions are performing exceptionally well in the NFL. Additionally, there's a notable hindsight bias following recent elections, with incumbents globally losing ground, a trend not anticipated beforehand.