Tag

Pandemic Housing Boom

All articles tagged with #pandemic housing boom

real-estate2 years ago•3 min saved

"Only 7 out of 200 largest markets return to pre-pandemic housing inventory levels amid seller strike"

Only seven out of the nation's 200 largest housing markets have returned to pre-pandemic inventory levels, as the surge in housing demand during the pandemic has not been matched by an increase in housing supply. The scarcity of "forced sellers" and the reluctance of move-up buyers to sell their homes due to higher mortgage rates have contributed to the low occurrence of foreclosures and a decline in new listings. The housing market's seller strike and the dearth of new listings pose challenges for the overall inventory count.

via Fortune|

#housing-market #inventory-levels #mortgage-rates

real-estate2 years ago•4 min saved

From Housing Boom to Pandemic Bust: The Story of a Resilient City.

Austin, Texas, which avoided the 2008 housing market crash, is now experiencing the biggest decline in home prices among the nation's 400 largest housing markets, falling 10.02% between July 2022 and April 2023. The pandemic housing boom led to steep home price overvaluation and speculation, resulting in a housing bubble that has burst. While the correction is mild compared to the 2008 crash, Austin's underlying fundamentals, including overvaluation and increasing inventory, remain a challenge. However, the city's status as a hot destination for tech workers and employers could make a sustained correction difficult.

via Fortune|

#austin #housing-bubble #pandemic-housing-boom

real-estate2 years ago•3 min saved

2022 Housing Market: Idaho Homeowners Lose Equity, Florida Homeowners Gain.

While the ongoing housing slump has seen national home prices come down a bit from the peaks hit during the Pandemic Housing Boom, most homeowners are still up big-time. Among the 46 states tracked by CoreLogic, 42 states saw average home equity levels rise between the fourth quarter of 2021 and the fourth quarter of 2022. Only California, Idaho, Utah, and Washington saw average equity levels fall between that year-over-year period. The average homeowner in Florida saw the biggest gain, with average equity rising $49,032 between the fourth quarter of 2021 and the fourth quarter of 2022. Meanwhile, the average homeowner in Idaho saw the biggest decline, with average equity falling $21,352 during that period.

via Fortune|

#home-equity #housing-market #mortgage-rates