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The Housing Market's Future—Trends and Predictions
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Apartment construction is falling. It's not because banks are pulling back from lending. Projects aren't feasible for builders.
Housing market intelligence analyst Rick Sharga returns to discuss the real estate market.
We discuss: real estate price movement, affordability concerns, expected mortgage rate changes, migration, price reductions, new homes vs. existing homes.
Can anyone even find a new-build $225K detached SFH today? They're nearly extinct.
Homebuilders are still buying down mortgage rates for you into the 4%s and 5%s at GREmarketplace.com.
America needs more SFHs, especially at the entry-level.
Apartment rents have declined a little. SFH rents are up about 3% year-over-year.
Delinquency and foreclosure activity remains low. These have a strong correlation with unemployment rates.
The volume of homes sales should increase this year, but only by perhaps 10%.
A recession is still quite possible later this year and expected to be mild.
Every region of the nation is currently experiencing residential RE price growth.
When mortgage rates fall, more new buyers than sellers are expected, pushing up property prices.
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Complete episode transcript:
Keith Weinhold (00:00:00) - Welcome to GRE. I'm your host, Keith Weinhold. Tons of new apartments were built last year, but that's abruptly going to change going forward. You'll learn why. Then a housing market intelligence analyst and I break down what's happening in the real estate market and the future direct