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Dallas Tanner, CEO of institutional landlord Invitation Homes, raised the possibility that homeowners unable to sell their properties could instead convert them into rentals, adding supply to the market. He posed this as an open question about 'mom and pop' sellers who may be sitting on unsold homes.
A new housing market report shows that while the national rate of vacant, bank-owned 'zombie' properties in foreclosure has fallen, the number of such homes has actually increased across 29 states. The report identifies specific states where the trend is worsening even as the overall U.S. figure improves.
ResiClub's latest tracking of major U.S. housing markets finds 66 metro areas now registering year-over-year or month-over-month price declines. The report ties the broader softening trend to a recent rise in long-term bond yields and mortgage rates, which has coincided with an acceleration in price weakness nationally.
Real estate agents report that American home sellers are increasingly lowering asking prices and covering thousands of dollars in buyer costs as the housing market stagnates. Many sellers who can afford to wait are pulling listings off the market entirely, while others face pressure to sweeten deals due to high mortgage rates and years of price increases. First American Financial's chief economist Mark Fleming says the market has shifted toward favoring buyers after years of seller-friendly conditions.
A record share of outstanding U.S. mortgages were originated during the pandemic-era period of ultra-low interest rates, according to new data cited in the report. With current mortgage rates far higher, many of these homeowners are choosing to stay put rather than sell and take on a costlier loan.
The U.S. housing market has now spent four consecutive years with resale transaction volumes stuck near historically low levels, according to ResiClub. Sales activity has largely been driven by the so-called 'Ds of Housing' factors—death, divorce, disease and other forced-sale situations—rather than typical voluntary moves.
A widely tracked measure of U.S. home-buying activity dropped sharply in September, falling to its lowest level in more than two decades. Analysts cited elevated mortgage rates as the main factor keeping prospective buyers out of the market.
A new housing market analysis identifies eight major U.S. metro areas—among them Atlanta, Denver and San Antonio—that are approaching conditions favorable to buyers rather than sellers. Many Southern housing markets already give buyers the upper hand, and the report suggests several more cities could join them soon.
ResiClub published three maps tracking home price shifts across U.S. housing markets, sizing each county by its active for-sale inventory rather than land area or population. This method aims to prevent large, sparsely populated counties from skewing the visual representation of price trends. The maps are part of ResiClub's ongoing housing market newsletter coverage from Lance Lambert.
The average rate on a 30-year U.S. mortgage climbed for a seventh consecutive week, pushing it to its highest level since November 16, 2023. The increase continues a sustained upward trend in borrowing costs for home buyers.
Entry-level homes have grown scarce across most of the United States, but a report finds that a handful of Midwest cities still have a notable supply of affordable starter homes. First-time buyers in these markets are reportedly finding ways to purchase homes despite broader affordability pressures elsewhere.
Borrowers seeking small mortgages, often under $100,000, are finding it harder to secure financing even though these loans correspond to the cheapest homes on the market. A key reason is that many of the fixed costs lenders incur to originate a mortgage don't scale down with the loan size, making smaller loans less profitable to issue.