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The housing market cool-off started as mortgage rates started to climb at the beginning of 2022. The 30-year fixed mortgage rate is now close to 7%, a level last seen in the early 2000s. Affordability constraints cooled down demand significantly, ending the housing market frenzy seen in 2020-21.
A look at the housing market cool-off beyond existing supply and demand Read More »
Pending listings declined over Q3 2022 in the highlighted markets, but the extent of the decline varied regionally. Salt Lake City, UT and Las Vegas, NV witnessed the sharpest declines of 24.3% and 22.4% respectively from June to September, while in San Diego, CA the decline was less than 10%.
After two years of rapidly rising prices, the housing market seems to have lost steam. There is widespread expectation that the U. S. will fall into recession as the Fed continues to raise interest rates. The following indicators also confirm that the trend in the housing market has shifted.
The results revealed no evidence of racial basis in the VeroVALUE AVM.
“We found that the proportion of properties that are undervalued by 15% or more is not correlated with the proportion of Black, Hispanic, Asian, or White populations,” said Eric Fox, Veros Real Estate Solutions Chief Economist. “This is crucial because it addresses concerns about undervaluations of minority-owned properties.”
Automated Valuation Models Can Help Identify Home Appraisal Bias in Minority Communities Read More »
The data suggests that while some first-time homebuyers are getting priced out of the housing market due to affordability, prices are being driven by demand from repeat and all-cash buyers as they compete for a low supply of homes.
The recent hot housing market has led to a sharp rise in single-family home investor purchases. The large increases experienced in the housing market have made single-family homes a quality investment that can produce yearly returns higher than those seen in the stock market. Investor Purchase Percentage usually hits its peak from December to February,
Corporate Investor Home Purchases are at the Highest Levels in a Decade Read More »
Actionable data is now available to commercial builders and commercial real estate owners to identify losses more quickly after disaster strikes Santa Ana, Calif., May 24, 2021—Veros Real Estate Solutions, an industry leader in enterprise risk management and collateral valuation services, announced today the addition of commercial properties to its Veros Disaster Data Solution product.
Veros Now Offers Commercial Property Insight Following a Natural Disaster Read More »
New United States weather data shows ‘obvious’ effects of climate change at a time when catastrophic events have intensified. Weather data recently released by the National Oceanic and Atmospheric Administration, a U.S. scientific agency that tracks weather data, shows that the U.S. is getting warmer and parts of it are getting wetter. Every ten years,
The Ticking Climate Time Bomb. America is Getting Hotter and Wetter Read More »
Google reported last week that the search question “When is the housing market going to crash?” had spiked 2,450% in the past month. “Why is the market so hot?” searches had doubled in just a week. Are consumers right to worry that house prices may be in a bubble that’s about to burst?
Is housing in a bubble that’s about to burst? Read More »
Climate change impacts more than the environment, but also where people want to live and the value of homes. The COVID-19 pandemic’s perceived negative impact on home values was short-lived — the market paused for only one quarter, then resumed appreciating in the subsequent quarters and continues to perform remarkably. Climate change, on the other
Climate Change…And Where You Do and Don’t Want To Live Read More »
