Investor home purchases have plummeted. They have the cash but are on the sidelines watching prices decline. Will prices fall enough to have made the waiting worthwhile?
Lots of data this week on single-family lot supply, multi-family permitting volume, and the formation of stars in distant galaxies.
The new jobs number startled economists, analysts, investors, and most importantly, the Federal Reserve Bank with an actual increase more than twice the consensus forecast.
Lumber prices spiked in the second week of January despite a slow and still slowing housing market. Suppliers have down-sized dramatically and are anticipating at least a modest recovery as mortgage rates slowly fall.
Inflation seems to be slowing, but housing costs are outpacing price increases in other goods and services. Rents are declining. For-sale inventory is rising because of slowing sales.
The Internet begat real estate technology firms hoping to compete with the traditional brokerage industry. One avenue for competition is the gathering and analysis of housing data. We now have multiple sources of data but also uncertainty and often disagreement.
Ringing out the year in housing with a fact and a forecast. The housing market is “down” relative to an extraordinary up. We predict another up albeit less extraordinary.
The Fed raised its Federal Funds rate by 0.5%, pushing the rate to between 4.25% and 4.5%. Investors were pleased.
Uncertainty is the word of the season among consumers, analysts, builders . . . well, just about everyone.
The internet revolutionized the gathering and distribution of information. The reservoir is much wider and deeper. The flow is faster and more voluminous. Are consumers better off? Did the world speed by the point of balance between too little and too much information?
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