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The Latest Breaking News from Housing Market

Housing market shortage is so acute and the office glut is so big that Boston will offer 75% tax breaks on office-to-residential conversions

Boston Mayor Michelle Wu: "We must take every possible action to create more housing and more affordability so that Boston’s growth meets the needs of current and future residents,"

Fortune

Average long-term US mortgage rate surged to nearly 7% this week to highest level since November

The average long-term U.S. mortgage rate climbed this week to just under 7%, the highest level since November and the latest setback for homebuyers already grappling with a tough housing market constrained by a dearth of homes for sale

The Independent UK

Rising mortgage rates put pressure on housing market in Wales

The latest market survey from RICS showed house prices are expected to fall between July and September

Birmingham Post

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Renting a room in UK tops £700 a month on average

Analysts say 17% rise from spring 2022 shows ‘housing market isn’t working for anyone’

The Guardian - UK

Housing market affordability is so out of whack that 'the bulk of the drop in home prices is yet to come', says Pantheon Macroeconomics

Pantheon Macroeconomics: "We are baffled by the emerging narrative in the commentariat that housing is now recovering, because it isn’t."

Fortune

Morningstar makes a bold call that housing market affordability will be restored by 2025. Here's how

Morningstar expects mortgage rates to plunge to 4.00% by 2025.

Fortune

Housing market inventory is so tight that only one of the nation’s 100 largest markets saw a home price decline in May

Black Knight: Among the nation’s 100 largest housing markets, 99 saw a home price increase in May.

Fortune

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Opendoor CEO on housing market instability

Opendoor is one of 52 women-led Fortune 500 companies.

Fortune

Mapped: House prices fall at fastest annual rate in 12 years as mortgage rates soar

Annual drop of 2.6% in June is largest year-on-year decrease since June 2011, Halifax said

The Independent UK

Bank of England warned 7 per cent interest rates would send shock wave through housing market

A leading economist says there is ‘no need to panic’ as Britain is ‘not in an 07-08 scenario’

The Independent UK

3 Homebuilder Stocks Investors Are Buying in July

Despite the rising interest rates and prevailing market uncertainties, the housing market’s long-term prospects remain favorable. Hence, it could be wise to scoop up the shares of homebuilder stocks PulteGroup, Inc. (PHM), Sekisui House, Ltd. (SKHSY), and Tri Pointe Homes (TPH) that seem to be drawing investors’ attention this month.…

StockNews.com

‘Stubborn inflation’ hits central London’s luxury home sector

Prices of high end homes in prime central London fell in the second quarter, down 5.9% from a year earlier, as the uncertain economic outlook weighs on the housing market.

Evening Standard

The UK’s housing market is hurting everyone. Time to rethink the whole thing

There appears to be no relief in sight for homeowners or renters – but there are things that can be done, says Josh Ryan-Collins, an associate professor at UCL

The Guardian - UK

Building firms go to the wall as housing market falls away

Construction firm debt defaults are up 16 percent, liquidations are up 72 percent, and those still working say it's getting tougher by the week. Jonathan Milne reports.

Newsroom.co.nz

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Tribune News Service

Is the housing market about to crash? Here’s what experts say

After a record-breaking run that saw mortgage rates plunge to all-time lows and home prices soar to new highs, the U.S. housing market finally started slowing in late 2022. Mortgage companies engaged in mass layoffs, real estate economists lamented a “housing recession” and home prices seemed poised for a correction.

Fortune

Incentives give builders a 2023 housing market advantage—here's how much they are forking out on the deals

“The total incentive as a percentage of sales price on average is about 4% nationally, and that’s elevated.”

Fortune

What's next for the housing market, as told by Fannie Mae's latest forecast

"Housing prices continue to show stronger growth than what was previously expected," says Fannie Mae chief economist Doug Duncan.

Tribune News Service

Conor Sen: Squeezed homebuyers are just what the economy needed

The housing market is full of surprises. Sentiment among homebuilders has been perking up, their stocks are surging, and new home sales are at the strongest since early 2022. All in the face of persistently high mortgage rates.

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Fortune

The CEO of Fortune 500 homebuilder D.R. Horton reveals how he cornered the housing market amid a historic affordability squeeze

CEO David Auld moved up four slots on the Fortune 500 despite a mortgage rate shock. His secret? "increased incentives...and adjusted base pricing"

The Independent UK

Average house price falls 3.5% as mortgage rates keep climbing

The sharp increase in borrowing costs is likely to exert a significant drag on near term housing market activity, Nationwide Building Society said.

Daily Mirror

Airbnb revenue 'down by 50 per cent' sparking huge housing market crash fears

One real estate expert has revealed that Airbnb's unfolding profit crisis is likely to cause a housing crash "on par with the 2008 subprime crisis" in some cities

Axios

New home sales surged in May

Another sign the housing market is bouncing back

Fortune

Jerome Powell promised a housing market 'reset'. Is it actually happening?

On Tuesday, U.S. house prices as tracked by Case-Shiller went negative on a year-over-year basis for the first time since 2012. However, it comes as month-over-month prices are rising again.

The Guardian - AU

No bed or bath: New Zealand boat shed sells for record $2m despite housing market crash

Record sale of property that by law cannot be slept in overnight comes amid wider property market slide

Fortune

Real estate agents are feeling the pain: Housing market golden handcuffs are very real

All those 2% and 3% mortgage rates—a policy outcome of the COVID-19 recession—are now acting as golden handcuffs.

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