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☆ The spring homebuying season isn’t what it used to be, thanks to the Fed
▼ + stars: | 2024-04-30 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

All that has caused the spring homebuying season to take a timeout — and could spell trouble for the remainder of the year. Since 1999, more than a third of home sales for the entire year occur between March and June on average, according to Freddie Mac data. Given the Fed is in no rush to cut interest rates, Khater expects mortgage rates to remain elevated for longer. Taken together, all these factors will likely put upward pressure on home prices, Khater and his team said in the report. “Our outlook does depend on mortgage rates, which are creating their own seasonality,” she added.

Persons: That’s, ” Zillow, Nicole Bachaud, “ Buyers, Bachaud, Sam Khater, Freddie Mac, Khater, ” Organizations: New, New York CNN, Federal Reserve, CNN, “, Fed Locations: New York, Texas, Florida

☆ Premarket stocks: Why Zillow is worried about America’s housing market shakeup
▼ + stars: | 2024-03-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Zillow reported that it outperformed the residential real estate industry by 12 percentage points in 2023. That’s because one of the main ways Zillow makes money is through lead generation for real estate agents. “This shift in the structure of real estate transaction costs is too new to understand how it will impact housing market dynamics,” a spokesperson said. Zillow could make even more money if real estate agents offer their services piecemeal, he said. The takeawayThere’s a lot of disagreement between analysts about the future of Zillow and the real estate industry at large.

Persons: Zillow, ”, Dan Kurnos, it’s, Zillow’s, they’ll, who’s, Kurnos, ” Stephen Brobeck, “, It’s, Homes.com, William Blair Organizations: CNN Business, Bell, New York CNN, National Association of Realtors, Realtors, Benchmark Company, NAR, Zillow, Consumer Federation of America, CNN, Bank of America Locations: New York

☆ Sorry, parents: The American dream is only for DINKS
▼ + stars: | 2024-02-21 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +5 min

Zillow determined that a family earning a median household income of $6,640 per month can expect to allocate $1,984 of that to childcare. It all adds up to a costly reality that's making the American dream of homeownership seem farther out of reach for parents than ever before. Based on the study, a new buyer household in the United States, making the median income, would spend 30% of it on housing. The upshot: Another group, less encumbered financially, appears better poised to realize the dream of homeownership: "DINKS," an acronym that stands for "dual income, no kids." "I paid $1,750 for rent in a crappy little apartment in California," Crossan told BI earlier this year.

Persons: —, Zillow, DINKS, Elizabeth Johnson, Johnson, Bartie Scott, Juliana Kaplan, Janelle Crossan, Crossan, Pengyu Cheng, Cheng Pengyu Cheng, Cheng Organizations: Service, US Department of Labor, Federal, Consumer Locations: Women’s, Los Angeles, San Diego, United States, Swiss, snorkeled, Hawaii, Canada, New Braunfels , Texas, Costa Mesa , California, California, Austin , Texas, Texas, San Francisco

☆ More Tenants Can Now Add Rent Payments to Their Credit Score
▼ + stars: | 2024-01-26 | by ( Ann Carrns | ) www.nytimes.com time to read: +2 min

As it stands, few landlords routinely report rent payments to credit bureaus. (Negative rent information can end up in credit files if a landlord reports delinquent accounts or sends them to a collection agency.) But in recent years, policymakers have been exploring whether consumers can benefit from having on-time rent payments included in credit scores, just as payments for mortgages, car loans and credit cards are. Reporting on-time rent payments is viewed as a way to reduce disparities in homeownership. TransUnion has been able to include rent payments in its credit reports since 2016 and has seen increasing interest from property managers, said Maitri Johnson, vice president of tenant and employment screening at the credit bureau.

Persons: isn’t, Fannie Mae, TransUnion, Maitri Johnson, Johnson Organizations: Self Financial, Urban Institute Locations: homeownership

☆ The Harriet Tubman? The Anne Frank? House Layout Names Draw Criticism
▼ + stars: | 2024-01-16 | by ( Remy Tumin | More About Remy Tumin | ) www.nytimes.com time to read: +1 min

From the outside, the adobe-style ranch house on the outskirts of Albuquerque appears to be like any other three-bedroom house. But its designers took inspiration from an unusual source. In fact, the person for whom the design is named probably never stepped foot in New Mexico at all. The company also named a home layout after Anne Frank, who hid from Nazis in an annex in the Netherlands before being killed in a concentration camp. The designs appear to have been available for years, but they did not pique interest on social media until this week.

Persons: Harriet Tubman, ”, Abrazo, tastelessly, Anne Frank Locations: Albuquerque, New Mexico, Netherlands

☆ Zillow offers a 1% down payment loan program
▼ + stars: | 2023-08-25 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Zillow Home Loans pays an additional 2%, bringing the total down payment to 3%, which is typically the minimum payment required for a conventional home loan. Currently the program is only available to buyers in Arizona, according to Zillow, with plans to expand. With mortgage rates crossing over 7% in recent weeks and home prices rising, home sales have plummeted over the past year. Offering a low down payment program is in line with Zillow’s return to its core business after a short-lived expansion into the ibuying business. Zillow also offers a down payment assistance tool to see if you are eligible for other programs.

Persons: Zillow, Rich Barton, haven’t, Orphe Divounguy, ” Organizations: DC CNN, Mortgage, Association, US Department of Agriculture, Department of Veterans Affairs, Consumer Financial Locations: Washington, Arizona, homeownership, Phoenix

☆ Mortgage rates are going up again but home prices aren’t coming down: Why the housing market is out of whack
▼ + stars: | 2023-07-08 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

But after 10 rate hikes, the housing market — traditionally one of the most interest-rate-sensitive areas of the economy — is anything but predictable. Mortgage rates then continued to climb in tandem with the Fed’s hikes until November, when mortgage rates peaked at 7.08%, despite four subsequent rate hikes since then. Higher mortgage rates have reduced home inventoryIn theory, when mortgage rates go up, home prices should fall since it raises the cost of homeownership, thereby reducing demand. That’s partly because the higher mortgage rates that came after the Fed hiked rates created a major lock-in effect, said Kiefer. “That tells the crux of the story for why the housing market seems a bit odd right now,” Divounguy said.

Persons: ”, Orphe Divounguy, Banks, Freddie Mac, Charles Dougherty, Dougherty, “, Len Kiefer, ” Kiefer, Kiefer, Divounguy, Zillow’s Divounguy, ” Divounguy Organizations: New, New York CNN, Federal Reserve, Zillow, Fed, National Association of Realtors, “, CNN, homebuying Locations: New York, That’s, Wells Fargo, Realtor.com

☆ People Are Using Mortgage Points to Lower Their Rates—Are They Worth It?
▼ + stars: | 2023-06-24 | by ( Michele Lerner | ) www.wsj.com time to read: +6 min

A recent analysis by Zillow Home Loans found that nearly 45% of borrowers purchased mortgage points, also known as discount points, in 2022 to reduce their monthly payments. That compares to 29% of borrowers who bought mortgage points in 2021, 28% in 2020 and 27% in 2019. “We started seeing more buyers purchasing discount points as soon as mortgage rates ticked up in 2022,” says Nicole Bachaud, senior economist for Zillow in Seattle. The combination of high home prices and high mortgage rates contributes to the current appeal of paying discount points. Cash-out refinance borrowers were also more likely than other borrowers to buy mortgage points.

Persons: Michele Lerner, “, ”, Nicole Bachaud, we’re, Chuck Cavanaugh, ” Cavanaugh, Mike Salierno, ” Salierno, Cavanaugh, ” Bachaud, Cash, Bachaud Organizations: Zillow, Citibank, Northwestern Mutual Locations: Seattle, New York City, Clearwater, Fla

☆ Midwestern housing market looks hot while sun belt region stays cold, says Zillow’s Skylar Olsen
▼ + stars: | 2023-06-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMidwestern housing market looks hot while sun belt region stays cold, says Zillow’s Skylar OlsenZillow’s Skylar Olsen and Deutsche Bank’s Joe Ahlersmeyer join 'Power Lunch' to discuss the U.S. housing market with a 7 percent mortgage rate putting pressure on the sector.

Persons: Zillow’s Skylar Olsen Zillow’s Skylar Olsen, Joe Ahlersmeyer Organizations: Deutsche

☆ Home buying costs could spike by 22% if US defaults on its debt
▼ + stars: | 2023-05-11 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

Housing costs would spike by 22% with the rate for 30-year, fixed rate mortgages rising above 8%. “While we don’t expect a debt default to occur, if it did, it would have unprecedented effects on the financial system,” said Jeff Tucker, a senior economist at Zillow. If there were to be a debt default, the biggest projected deficit would come in September, with an estimated 23% fewer existing home sales. Mortgage rates tend to follow yields on 10 year Treasury bonds and would likely rise, too. “It is a looming risk about a month away, so it isn’t yet wreaking havoc on 30-year mortgage rates.

☆ When Is The Best Time to Buy a House?
▼ + stars: | 2023-04-03 | by ( ) www.wsj.com time to read: +8 min

By Michele LernerAs with much else in real estate, the best time of year to buy a house depends on location, market conditions—and you. “But the best time of year to buy a house depends a lot on the type of buyer.”The spring housing marketTraditionally the housing market’s most active season, spring can be the “best” time of year to buy or the “worst” time of year to buy, depending on your perspective. Best time to buy for: Buyers who hope to move before the holidays or at least before the end of the year. Best time to buy for: Buyers and investors looking for a better deal. “Sometimes it’s the right time to buy a house when you’ve found ‘the one’ that feels right for your family and your circumstances,” Bloch says.

☆ Rent prices conceal better U.S. inflation picture
▼ + stars: | 2022-12-13 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Dec 13 (Reuters Breakingviews) - The U.S. battle against inflation is faring even better than its own data suggest. The country’s Consumer Price Index rose just 0.1% in November, the Bureau of Labor Statistics reported on Tuesday. Yet a lag between market trends and CPI data means that true inflation is lower than the government’s reading. According to the government’s measure, shelter prices rose 0.7% last month, but Zillow’s (ZG.O)gauge of nationwide rent prices fell for a second consecutive month in November, by 0.4%. Once CPI catches up, the inflation picture is going to look much more encouraging.

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