August, 2022 RSS Icon
Found 18 entries for August, 2022.

Weekly Review
Newsletter - 08/29/2022

Week of August 22, 2022, in Review

Fed Chair Jerome Powell gave an important speech at the annual Jackson Hole Economic Symposium, while two July housing reports showed a slowdown in signed contracts for new and existing homes. Here are the key stories:

  • Fed Chair Powell Vows to Continue Inflation Fight
  • Pending Home Sales Tick Lower in July
  • July’s New Home Sales Fizzle
  • What’s Ahead for Jobless Claims?
  • Second Quarter GDP Remains Negative

Fed Chair Powell Vows to Continue Inflation Fight

The Fed’s favorite measure of inflation, Personal Consumption Expenditures (PCE), showed that inflation fell 0.1% in July, which was in line with expectations. The year-over-year reading declined from

238 Views, 0 Comments
Read Full Post

What's going on? High-cost tech hubs, like San Francisco and Seattle, are getting hit hard by the tech slowdown. Not only are their high-end real estate markets more rate sensitive, but so are their tech sectors.

Back in June, Fed Chair Jerome Powell made it clear to reporters: The Pandemic Housing Boom was over. Heading forward, he said, spiked mortgage rates would push the U.S. housing market into a slowdown.

“We saw [home] prices moving up very very strongly for the last couple of years. So that changes now. And rates have moved up. We are well aware that mortgage rates have moved up a lot. And you are seeing a changing housing market. We are watching it to see what will happen. How much will it really affect residential investment? Not really

261 Views, 0 Comments
Read Full Post

What's going on? High-cost tech hubs, like San Francisco and Seattle, are getting hit hard by the tech slowdown. Not only are their high-end real estate markets more rate sensitive, but so are their tech sectors.

Back in June, Fed Chair Jerome Powell made it clear to reporters: The Pandemic Housing Boom was over. Heading forward, he said, spiked mortgage rates would push the U.S. housing market into a slowdown.

“We saw [home] prices moving up very very strongly for the last couple of years. So that changes now. And rates have moved up. We are well aware that mortgage rates have moved up a lot. And you are seeing a changing housing market. We are watching it to see what will happen. How much will it really affect residential investment? Not

964 Views, 0 Comments
Read Full Post

Home values decreased for the first time in a decade, according to Zillow, and that's just one of several signs it's finally getting easier to buy a house.

The Zillow Home Value Index dropped in July for the first time since 2012, according to new data from the real estate website. The index, which uses Zillow data to measure the value of a typical home, fell 0.1% on a monthly basis.

That decrease may not seem like a lot (home values are still significantly higher than they were last year and the year before), but it’s likely a welcome relief for buyers who have been struggling in the red-hot market.

"Home values flattening so quickly after recent record growth might surprise,” Zillow Chief Economist Skylar Olsen said in a news release, “but

171 Views, 0 Comments
Read Full Post

Weekly Review
Newsletter - 08/22/2022

Week of August 15, 2022 in Review

July brought a slowdown in home sales and home construction. Does this mean we’re in a housing recession? Find out the answer and more in these crucial stories:

  • What the Slowdown in Existing Home Sales Means for Home Prices
  • Confidence Among Home Builders Falls Below Key Threshold
  • Key Takeaway From the Slowdown in Home Construction
  • The Significance of Jobless Claims Data
  • Fed Minutes Show Acknowledgment of Slowdown

What the Slowdown in Existing Home Sales Means for Home Prices

Existing Home Sales fell 5.9% from June to July to a 4.81 million unit annualized pace, per the National Association of Realtors (NAR). Sales were also down 20.2% when

144 Views, 0 Comments
Read Full Post

Home values decreased for the first time in a decade, according to Zillow, and that's just one of several signs it's finally getting easier to buy a house.

The Zillow Home Value Index dropped in July for the first time since 2012, according to new data from the real estate website. The index, which uses Zillow data to measure the value of a typical home, fell 0.1% on a monthly basis.

That decrease may not seem like a lot (home values are still significantly higher than they were last year and the year before), but it’s likely a welcome relief for buyers who have been struggling in the red-hot market.

"Home values flattening so quickly after recent record growth might surprise,” Zillow Chief Economist Skylar Olsen said in a news release, “but it's

700 Views, 0 Comments
Read Full Post

Home values decreased for the first time in a decade, according to Zillow, and that's just one of several signs it's finally getting easier to buy a house.

The Zillow Home Value Index dropped in July for the first time since 2012, according to new data from the real estate website. The index, which uses Zillow data to measure the value of a typical home, fell 0.1% on a monthly basis.

That decrease may not seem like a lot (home values are still significantly higher than they were last year and the year before), but it’s likely a welcome relief for buyers who have been struggling in the red-hot market.

"Home values flattening so quickly after recent record growth might surprise,” Zillow Chief Economist Skylar Olsen said in a news release, “but

682 Views, 0 Comments
Read Full Post

Weekly Review
Newsletter - 08/15/2022

Week of August 8, 2022 in Review

Both producer and consumer inflation were cooler than estimates last month, while Initial Jobless Claims moved higher once again. Here are last week’s key headlines:

  • Consumer and Producer Inflation Cooler Than Expected in July
  • Decline In Import Prices Also Signals Cooling Inflation
  • Inflation Remains Top Problem for Many Small Businesses
  • Initial Jobless Claims Continue to Tick Higher

Consumer and Producer Inflation Cooler Than Expected in July

The Consumer Price Index (CPI), which measures inflation on the consumer level, showed that inflation was flat in July. This was lower than the 0.2% increase expected. Note that a flat or 0.0% reading doesn’t mean

222 Views, 0 Comments
Read Full Post

  • Buyer opportunities have returned to the Puget Sound market
  • Active listings have nearly doubled from a year ago
  • The market balance is favoring buyers
  • “We are seeing builders moving their price points down and providing incentives to buyers in closing costs and buydowns to help borrowers obtain lower interest rates.”
  • Overpriced listings have missed the market.

KIRKLAND, Washington (August 4, 2022) – New statistics from Northwest Multiple Listing Service confirm reports of a shifting housing market, prompting one industry leader to suggest “all parties involved in a transaction today have to recalibrate.”

“Today’s buyers have their cups finally overflowing with options as residential inventory grows to about two months of supply,”

332 Views, 0 Comments
Read Full Post

  •  Buyer opportunities have returned to the Puget Sound market
  •          Active listings have nearly doubled from a year ago
  •          The market balance is favoring buyers
  •          “We are seeing builders moving their price points down and providing incentives to buyers in closing costs and buydowns to help borrowers obtain                  lower interest rates.”
  •          Overpriced listings have missed the market.

KIRKLAND, Washington (August 4, 2022) – New statistics from Northwest Multiple Listing Service confirm reports of a shifting housing market, prompting one industry leader to suggest “all parties involved in a transaction today have to recalibrate.”

“Today’s buyers have their cups finally overflowing with options as

664 Views, 0 Comments
Read Full Post