The housing market is tanking but why?

[william the wie]

wages are going up mortgage rates are drifting lower. housing sales should be increasing but for the most part they are not.

 

[Moonglow]

debt and underemployment for college grads.

 

[Pete7469]

They keep building new ones in new subdivisions.

 

[depotoo]

From what I have seen, we have new builds going up all over our area, and houses sold as soon as they hit the market. Also have family that had a bidding war on their home in OK within a week of going on the market and every house they found in CO the day it came on the market or the next it was already under contract. They finally had the realtor hear about one the day before it was to hit and were the first to see it and were able to contract for it.

 

[Marion Morrison]

wages are going up mortgage rates are drifting lower. housing sales should be increasing but for the most part they are not.

Municipal taxes, HOA fees, housing is inflated as far as it should be and then some.

Oh! Then there's the "Nobody wants to be responsible for anything" factor. That's a real thing.

These kids have been raised to think that land ownership is ooky. They also realize it requires responsibility. Solution? "I'll just rent."

 

[depotoo]

 

[depotoo]

https://www.census.gov/construction/nrs/pdf/newressales.pdf

 

[expat_panama]

wages are going up mortgage rates are drifting lower. housing sales should be increasing but for the most part they are not.

Fact: housing sales are soaring.

Last Oct. there were 46,000 new one-family houses sold, and the latest number we have is Mar. w/ 58,000 and the numbers between showed a steady climb (from here). Today's housing market's in far better shape than it was before Jan '17.

The recent surge may be because for the past 6 months median home prices have been falling back to levels we had before Jan. '17 (from here).