Devin Burns

10/24/2024

📉 Competition levels falling. The Realtors Confidence Index for September showed that homes were seeing fewer multiple bidders and a slower pace of sales compared to last year. 🏡✨ [NAR]

This report is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners.

10/18/2024

Zillow: Slow price growth ahead 🏡. The property portal's latest forecasts predict national home prices to rise 2% in 2024, and only 0.9% over the next 12 months 📉. [Zillow]

Zillow’s latest forecast projects home value and rent growth to soften over the coming months, while existing home sales are expected to rise. Lower

10/14/2024

🚫🌿 Avoid homes with these invasive plants. They might look pretty, but these plants can take over your garden, poison your pets, or pry up your paving stones. 🏡🐾 [House Beautiful]

House hunters, beware.

10/09/2024

📈 Housing sentiment jumps to 2-year high. Optimism about lower rates helped Fannie Mae's Home Purchase Sentiment Index rise 1.8 points to 73.9, the highest level since February 2022. 🏡✨

On this webpage, you will find the most up-to-date analysis, research and insights of the challenges facing the housing industry.

10/08/2024

📉 Home prices down slightly for 2nd month. CoreLogic's HPI saw nationwide home prices down 0.1% month-over-month in August, after a similar drop in July. 🏡✨ [CoreLogic]

Home prices dipped below 4% on an annual basis in August, with more cooling expected in the coming months.

10/08/2024

📊 BLS: Sept jobs growth a big surprise. The US economy added 254,000 jobs in September—well ahead of expectations—and the unemployment rate dipped to 4.1%. 💼📉 [CNBC]

If this sounds like a Goldilocks scenario, it's probably not far from it, even with the lingering inflation concerns.

09/30/2024

📉 August PCE (inflation) lower than expected. "Headline" PCE rose just 0.1% month-over-month. As a result, annual price growth eased from +2.5% YoY in July to +2.2% in Aug. 💵✨ [CNBC]

The personal consumption expenditures price index was expected to increase 0.1% in August and 2.3% from a year ago.

09/27/2024

📉 August pending home sales disappointed. NAR's PHS index rose just 0.6% MoM to 70.6. Mortgage rates have fallen 130 bps (1.3%) in the last 5 months, but the PHSI has barely budged. 🏡📊

A slight upward turn reflects a modest improvement in housing affordability, primarily because mortgage rates descended to 6.5% in August.

09/26/2024

⏳ Rising % of "stale" listings. 48% of US listings have been on the market for 60 days or more, the highest percentage of "extra stale" listings since 2019. 🏡📉 [Redfin]

Redfin reports 48% of all homes for sale in August had been on the market for at least 60 days, up from 43% a year ago SEATTLE--(BUSINESS…...

09/19/2024

🏗️ Housing starts bounced in August. Housing starts rose 10% month-over-month and new home completions jumped 9% MoM, driven by a surge in multifamily deliveries. 🏘️📈 [Reuters]

U.S. single-family homebuilding rebounded sharply in August, but a moderate increase in building permits suggested that the momentum was unlikely to be sustained against the backdrop of rising supply of new homes on the market.

09/10/2024

🐻 Buyers still bearish, but increasingly hopeful. Fannie Mae's HPSI index rose slightly (from low levels), and respondents were more optimistic about lower rates ahead. 📈✨ [Fannie Mae]



https://www.fanniemae.com/research-and-insights/surveys-indices/national-housing-survey?distinct_id=hNTNbj9v0&user_email=devin%40routthometeam.com

09/04/2024

💸 $2100/month to live with 23 roommates? The high cost of renting in cities like NYC, plus the desire to meet new people in a WFH world, is spawning new 'cohab' models. 🏙️🤝 [Realtor.com]



https://www.realtor.com/news/trends/23-roommates-new-york-shared-bathroom/?distinct_id=hNTNbj9v0&user_email=devin%40routthometeam.com

Ishan Abeysekera, 33, lives in a unique shared property in Crown Heights, Brooklyn, alongside 23 other people.