Early spring is peak home-shopping season in most years, a time when sellers list homes on the market in droves hoping to take advantage of the increased competition from buyers shaking off the winter doldrums. But a new Zillow analysis shows that new listings dropped significantly this March and early April as the coronavirus pandemic
Zillow: Coronavirus is slowing the housing market
April 9, 2020 by
It has been a wild ride for mortgage rates over the past month, which touched record lows then rebounded just as fast. Low rates are typically associated with healthy housing demand and a strong market – especially now that we’ve entered home shopping season – but early signs indicate the market is slowing. As the
Study reveals coronavirus impact on food and retail workers
April 7, 2020 by
American renters who work in food and retail industries can find themselves spending 40% of their annual income on housing costs if they are unable to work for two months – up about six percentage points from their current rent burden. As local governments limit or close businesses to stop the spread of the coronavirus,
Black homeownership rate rebounds from 3-decade low
February 20, 2020 by
Recent trends in the black homeownership rate show an increasing number are becoming homeowners. The homeownership rate for black households jumped 3.4 percentage points over the second half of 2019, bringing it from a three-decade low to back near historic averages. A deeper analysis by Zillow revealed some metro areas across the U.S. where the
Homes selling above list price fall to 3-year low
February 11, 2020 by
As the housing market returned to normal after a frenzied couple of years marked by intense bidding wars in many markets, the smallest share of homes sold for above their list price last year than in any year since 2016. Home value growth slowed throughout 2019 to a rate more in line with historic norms
Zillow reveals America’s most popular destinations for home buyers
February 4, 2020 by
Las Vegas is the most popular U.S. destination for non-local home shoppers, Minneapolitans don’t want to move out of the area – and hardly anybody else wants to move in – and Texans seem to mostly love living in Texas. These are just a few of the takeaways from a new Zillow analysis of search
U.S. housing inventory falls to 7-year low
January 22, 2020 by
The number of home listed for sale in the U.S. has fallen to its lowest point in at least seven years, and the shortage appears poised to get worse before it gets better. Inventory fell 7.5% annually to its lowest level in Zillow data that dates back to 2013, according to the December Zillow Real
U.S. housing market now worth $33.6 trillion, Zillow says
January 21, 2020 by
The total value of every home in the U.S. is $33.6 trillion, nearly as much as the GDP of the two largest global economies combined – the U.S. ($20.5 trillion) and China ($13.6 trillion) – according to a new Zillow analysis. Since 2010, when the market was battling to regain its footing in the wake
Zillow says U.S. now boasts 218 ‘million-dollar’ cities
January 16, 2020 by
There are currently 218 million-dollar cities in the U.S. – cities with a typical home value of $1 million or more – three more than at the end of 2018 and 74 more than there were five years ago. The net addition of three $1 million cities is easily the lowest in recent years, according
Zillow: Look South for the hottest housing markets in 2020
January 7, 2020 by
Led by Austin, housing markets in the southern half of the U.S. will perform the best in 2020, according to a panel of economists and real estate experts recently surveyed by Zillow. The latest Zillow Home Price Expectations Survey asked more than 100 economists, investment strategists and real estate experts for their predictions about the
