Trends

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Real estate advisors project tamer housing market in 2022 

Home-price growth is expected to average about 5% this year, far below the record-breaking pace set in 2021, RCLCO reported. 

2021 ends with a bang in new-home sales 

Builders started to make headway against supply-chain issues that have hampered construction of homes in the face of high demand. 

Price appreciation in new vs. existing homes: CoreLogic investigates

New homes and existing homes are appreciating at similar rates, according to a new report from CoreLogic.

Existing-home sales slide in December while prices continue to climb

“December saw sales retreat, but the pull back was more a sign of supply constraints than an indication of a weakened demand for housing.” — NAR chief economist Lawrence Yun

Housing starts rise in December on strong multifamily sector

While multifamily starts surged 13.7% compared to November, the pace of new single-family housing construction slid 2.3%, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

Inflation worries sap builder confidence in January

“While lean existing home inventory and solid buyer demand are supporting the need for new construction, the combination of ongoing increases for building materials, worsening skilled labor shortages and higher mortgage rates point to declines for housing affordability in 2022.” — NAHB Chairman Chuck Fowke

Mortgage applications, interest rates rise first week of January

“MBA expects solid growth in purchase activity this year, as demographic drivers and the strong economy support housing demand,. However, the strength in growth will be dependent on housing inventory growing more rapidly to meet demand.” — Mortgage Bankers Association associate vice president of economic and industry forecasting Joel Kan

Mortgage applications fall during last two weeks of 2021

At the same time, the average 30-year fixed-rate mortgage rose to 3.33%, its highest level since April 2021, the Mortgage Bankers Association said.

Inflation has buyers and sellers rethinking their plans

Inflation concerns are influencing plans for homebuyers and sellers, according to a recent Redfin survey.

Housing affordability falls to lowest level since 2008

Housing affordability fell to its lowest level since 2008 in October as home prices rose 19.6% from last year.

S&P CoreLogic Case-Shiller: National home prices continue their climb 

Phoenix, followed by Tampa, Fla., and Miami, claimed the largest price gains among the 20 metro areas in the index. according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. 

Texas leads country in population growth

Texas gained more residents than any other state between July 2020 and July 2021, according to recent U.S. Census Bureau data. 

Pending-home sales return to negative territory in November

“There was less pending home sales action this time around, which I would ascribe to low housing supply, but also to buyers being hesitant about home prices,” National Association of REALTORS® chief economist Lawrence Yun said.

New-home sales soar 12.4% in November

The median sales price of new homes hit a new high of $416,900.

Houston ranks No. 3 among cities with highest home renovation ROI

HomeAdvisor recently analyzed real estate listings in 10 of the hottest housing markets in 2021 to determine the top five cities that saw the highest return on investment (ROI) from home renovations.

Luxury home sales in Texas increase nearly 90% from 2020

More Texans are opting for luxurious living spaces compared to last year, according to the 2021 Texas Luxury Home Sales Report by Texas REALTORS®. The annual report examining housing statistics for homes that sold for $1 million or higher across the state showed total sales dollar volume reached $19.9 billion, a 93.3% increase from the previous year.

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