REI INK

U.S. Housing Market Nears $50 Trillion in Value as Number of Trillion-Dollar Metros Doubles

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Redfin reports there are now eight metros, up from four a year ago, where the total value of homes topped $1 trillion The total value of U.S homes gained $3.1 trillion over the past 12 months to reach a record $49.6 trillion, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. In percentage terms, the total value of the U.S. housing market grew 6.6% year over year. Zooming

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OPPORTUNITY ZONE HOME PRICES CONTINUE RIDING WAVE OF GAINS ACROSS U.S. DURING SECOND QUARTER OF 2024

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Median Home Values Increase in More Than Half of Opportunity Zones Targeted for Economic Redevelopment;  Price Trends Inside Those Zones Continue to Closely Follow National Market Patterns;  Some Measures in Opportunity Zones Again Outpace Nationwide Improvements ATTOM, a leading curator of land, property, and real estate data, released its second-quarter 2024 report analyzing qualified low-income Opportunity Zones targeted by Congress for economic redevelopment in the Tax Cuts and Jobs Act of

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Frustration Evident in Consumer Housing Sentiment

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Only 17% Say It’s a ‘Good Time’ to Buy, Despite Known Aspiration to Own The Fannie Mae Home Purchase Sentiment Index® (HPSI) decreased 1.1 points in July to 71.5, as an overall lack of affordability continues to hamstring consumer sentiment toward the housing market. This month, only 17% of consumers indicated that it’s a good time to buy a home, down from 19% in June, while the share believing it’s a good

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Zillow Group Promotes Jeremy Wacksman to CEO

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Rich Barton remains on the Zillow Group Board of Directors and becomes co-executive chair alongside Zillow co-founder and current executive chair Lloyd Frink Zillow Group, Inc., which is transforming the way people buy, sell, rent and finance homes, announced longtime executive and Chief Operating Officer Jeremy Wacksman has been promoted to chief executive officer and appointed to the Company’s Board of Directors. Wacksman succeeds co-founder Rich Barton, who remains on the Zillow Group Board of

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HOMEOWNER EQUITY TURNS BACK UPWARD ACROSS U.S. IN Q2 2024

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Half of Mortgaged Homeowners Once Again Equity-Rich;  Portion of Owners Seriously Underwater Drops to Five-Year Low  ATTOM, a leading curator of land, property, and real estate data, released its second quarter 2024 U.S. Home Equity & Underwater Report, which shows that 49.2 percent of mortgaged residential properties in the United States were considered equity-rich in the second quarter, meaning that the combined estimated amount of loan balances secured by those properties was no

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Realtor.com® July Housing Report: Inventory Hits Post-Pandemic High

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Seattle (37.3%), San Jose (30.8%) and Columbus (17.4%) See Highest Gains in New Listings this July According to the Realtor.com® July housing data, the market is becoming more buyer friendly through a combination of rising inventory levels and price cut reductions. Homes actively for sale grew 36.6% in July 2024 relative to the same time last year, hitting a post-pandemic high, while the share of listings with price cuts reached 18.9%, the highest rate since October. “The inventory

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