The housing market is in trouble: Home sales dropped in every month of 2018 except for February, Business Insider’s Alex Morrell reported. A bad housing market is a bad indicator for the state of the overall economy. But there’s one particular day that Glenn Kelman, CEO of online real estate brokerage Redfin, says sets the tone of the entire year’s real estate outlook: Super Bowl Sunday. Super Bowl Sunday is a long-awaited moment for sports fans across the US – but it’s also an indicator of how the year’s housing market will perform. That’s according to Glenn Kelman, CEO of Seattle-based online real estate brokerage Redfin. In December, NPR’s Stacey Vaneck Smith spoke to Kelman on a segment of The Indicator From Planet Money. When Vaneck Smith asked him if he expected 2018 to end with a whimper or a bang, Kelman’s answer was simple but definite: a whimper. While the downward trend could smooth out in 2019, “a deeper … [Read more...] about The CEO of a real estate brokerage says the weekend that determines the direction of the housing market every year is right around the corner
Recession and housing market
U.S. home sales fell hard in December, as in a 6.4-percent decline from November and a 10.3-percent drop from a year earlier, according to a monthly update Tuesday from the National Association of Realtors. Big shifts like that are rare and usually associated with the rollout of a government program. There weren’t any. Big drops can also signal an economic slowdown, although the evidence is still mixed on that front. “The latest decline is harder to explain. Perhaps it is the decline in consumer confidence that’s been occurring in the latter half of 2018,” said Lawrence Yun, chief economist for the NAR in a release. “The latest numbers do not reflect the lower, current mortgage rates compared to the November figures, so it’s really harder to explain.” But Lou Barnes, a senior loan officer at Premier Mortgage Group in Boulder and a Fed observer, has some theories, which he shared with agents from 8Z Real Estate, a Denver-based brokerage … [Read more...] about U.S. housing market took December hit, but “crazy spring” could make up for lost ground
Tick, tick, tick … Denver’s real estate clock is moving into a new year, at a moment when the whole world seems in turmoil. The market in the Mile High is a different animal than last year, with inventory of homes rising and sales volume down. But after a year when prices in many sectors hit unheard-of highs, builders and brokers are all saying that Denver’s market is experiencing a normalization more than a downturn. Here’s what the numbers may mean to you. A new normal. Hard to imagine, but the average single-family home in the Denver area broke the $500,000 mark this year. And although prices are off a bit, both average and median prices for all kinds of housing are still considerably higher than they were last year. Most experienced brokers view this as a good thing for Colorado — backing off from times over the past two years when so few homes were on the market that buyers were having to bid the price of homes up to compete. Few people are … [Read more...] about As time slips away, what does Denver’s changing housing market mean for your family’s prospects in the coming year?
By WSJ Thu., Jan. 17, 2019 This is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here. The partial government shutdown enters its 27th day with a little more clarity for federal workers but growing anxiety about the economy. Good morning. Jeff Sparshott here to take you through the day's most important economic news, including the high cost of student debt, shutdown fallout, pressure on Huawei, support for a carbon tax, Brexit planning and Europe's new steel quotas. Let us know what you think by replying to this email. FOREVER IN YOUR DEBT The Federal Reserve has linked rising student debt to a drop in homeownership among young Americans. Roughly 400,000 borrowers who could have owned a home by 2014 didn’t because of student loans, new research shows. Article Continued Below Why? First, many borrowers fell behind on their student loans, hurting their ability to qualify for mortgages. … [Read more...] about Real Time Economics: How Student Debt Hurts the Housing Market
Gina Heeb, provided by Published 3:31 pm CST, Wednesday, January 16, 2019 Hong Kong was ranked the most expensive housing market in the world for eight consecutive years. But property values have fallen sharply in recent months. A slowing mainland economy, trade tensions, and rising interest rates have helped drag prices lower. One of the world's most expensive housing markets is facing a major slowdown. Analysts at HSBC dimmed their outlook for Hong Kong's real-estate market on Wednesday, according to a research note. Previously forecasting activity would plateau, they now estimate prices will fall from 10% to 15% over the next six months. "We expect the first half of 2019 to be a challenging period for the Hong Kong housing market," the analysts said. "Prices have already corrected 8% from the recent peak in August 2018 due to macro uncertainties and several events occurring in the property market that concerned investors." Hong Kong was ranked the most-expensive … [Read more...] about China’s economy is slowing, and it’s taking Hong Kong’s once-booming housing market down with it