UDIA National’s Post

Daily Update 03-19-2024 Housing starts rose in February In February, privately-owned housing starts reached a seasonally adjusted annual rate of 1,521,000, marking a 10.7% increase from the revised January estimate of 1,374,000 and a 5.9% rise from the February 2023 rate of 1,436,000, as reported by the U.S. Census Bureau. Single-family housing starts in February stood at a rate of 1,129,000, reflecting an 11.6% uptick from the revised January figure of 1,012,000. In terms of building permits, privately-owned housing units authorized in February reached a seasonally adjusted annual rate of 1,518,000, showing a 1.9% increase from the revised January rate of 1,489,000 and a 2.4% rise from the February 2023 rate of 1,482,000. Single-family authorizations in February were recorded at a rate of 1,031,000, indicating a 1.0% increase from the revised January figure of 1,021,000. Regarding housing completions, privately-owned housing completions in February reached a seasonally adjusted annual rate of 1,729,000, representing a notable 19.7% increase from the revised January estimate of 1,445,000 and a 9.6% rise from the February 2023 rate of 1,577,000. Single-family housing completions in February were reported at a rate of 1,072,000, marking a 20.2% increase from the revised January rate of 892,000. This Week's Major U.S. Economic Reports & Fed Speakers, today Tuesday March 19: Housing starts-Feb.; & Building permits REMEMBER: Bond trading typically impacts the yield on the 10-yr treasury as mortgage rates are tied to the yield. If bond prices increase, yields and rates decrease. If bond prices decrease, yields and rates increase. 10-yr Treasury yield = 4.31% Avg Conv 30-yr fixed rate = 7.11%

CoreLogic’s Home Value Index has seen an extra $63,000 added to the national median dwelling value, taking the current median to $765,762. In total, 88.4 per cent of the over 4,000 housing markets studied experienced price rises between February 2023 and February 2024. This is a substantial leap from just 39.1 per cent of markets that recorded positive annual growth one year ago in February 2023. According to CoreLogic economist Kaytlin Ezzy, “the broad-based capital gains seen over the past year reflect the ongoing imbalance between housing supply and demand, which has helped to counteract the less favourable market and affordability conditions”. Despite very high interest rates, worsening housing affordability and a significant cost-of-living crisis, Ezzy stated that “entrenched undersupply in housing stock” and “above-average demand, thanks to strong net migration” have kept dwelling values climbing. The strongest levels of growth were seen in the states of Queensland, South Australia and Western Australia. In Brisbane, 100 per cent of suburbs saw a house price rise – the only city in Australia to see this level of uniform growth. Growth in regional Queensland was also extremely strong: 98.8 per cent of markets saw a rise in house and unit values, with only five suburbs not seeing a price increase. “Positive net migration flows, low housing supply and comparatively low housing prices have all helped support widespread growth across these markets,” Ezzy explained. Sydney saw 98.6 per cent of suburbs experience an annual rise, while 90.3 per cent of Melbourne suburbs witnessed a price increase. “While still relatively broad-based, the pace of growth seen across the country’s individual house and unit markets is increasingly diverse – a trend that seems set to continue in 2024,” stated Ezzy.

🏠 Perth Housing Market Update 🏠 Key Points: ⏺ Perth's housing values surged by 1.8% in February, maintaining a strong growth trend. ⏺ Rental prices are also on the rise, with house rents up 13.5% and unit rents up 16.5% over the past year. ⏺ Despite the growth, Perth remains relatively affordable compared to other cities. Market Trends: ⏺Demand continues to outstrip supply, leading to a robust market dynamic. ⏺Early signs of increased housing confidence are emerging as inflation eases and rate cut expectations grow. ⏺Auction clearance rates and consumer sentiment are on the rise, indicating a positive trend in the market. 🇦🇺National Perspective: Nationally, dwelling sales over the past three months are up 4.7% from last year, with capital cities showing a 6% increase. However, home sales are down 5% nationally compared to the previous five-year average for this period, and down 1.5% across the combined capitals. Stay tuned for more updates on local cities near you!

What’s Happening In The Housing Market The housing market in 2024 is experiencing a dynamic shift due to various factors influencing supply and demand. With the continued population growth and low interest rates, the demand for housing remains high, leading to increased competition among buyers. However, the supply of available homes has not kept pace, resulting in a seller's market with rising prices. Read more here: https://lnkd.in/gQpJwsK9 #lifeinsurance #livingbenefits #financialplanning

Maricopa Arizoa Here are some recent updates on the housing market in Maricopa, Arizona: Median sale priceIn October 2024, the median sale price of a home in Maricopa was $355,561, which is a 0.1% increase from the previous year. Median price per square footIn October 2024, the median price per square foot of a home in Maricopa was $191. Days on marketOn average, homes in Maricopa sell after 53 days on the market. Buyer's or seller's marketMaricopa is a seller's market, which means that homes sell faster and prices are higher. Here are some other housing market trends in Maricopa: The number of homes sold in Maricopa decreased by 11.4% year-over-year. The median days on market in Maricopa increased by 6 years-over-year. The price of 1 bedroom homes did not change, while 2 bedroom homes decreased by 8.2%. 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes decreased by 1.4%. Tom Buron Loan Officer - Land Home Financial Services inc. 480-213-1497 [email protected] May be an image of text

Maricopa Arizoa Here are some recent updates on the housing market in Maricopa, Arizona: Median sale priceIn October 2024, the median sale price of a home in Maricopa was $355,561, which is a 0.1% increase from the previous year. Median price per square footIn October 2024, the median price per square foot of a home in Maricopa was $191. Days on marketOn average, homes in Maricopa sell after 53 days on the market. Buyer's or seller's marketMaricopa is a seller's market, which means that homes sell faster and prices are higher. Here are some other housing market trends in Maricopa: The number of homes sold in Maricopa decreased by 11.4% year-over-year. The median days on market in Maricopa increased by 6 years-over-year. The price of 1 bedroom homes did not change, while 2 bedroom homes decreased by 8.2%. 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes decreased by 1.4%. Tom Buron Loan Officer - Land Home Financial Services inc. 480-213-1497 [email protected] May be an image of text

What’s Happening In The Housing Market The housing market in 2024 is experiencing a dynamic shift due to various factors influencing supply and demand. With the continued population growth and low interest rates, the demand for housing remains high, leading to increased competition among buyers. However, the supply of available homes has not kept pace, resulting in a seller's market with rising prices. Read more here: https://lnkd.in/gd2-WFBS #lifeinsurance #livingbenefits #financialplanning

Payson Arizona Housing market update Here are some recent updates on the housing market in Payson, Arizona: Median sale price In August 2024, the median sale price for homes in Payson was $494,000, which is a 0.8% increase from the previous year. Median days on market In August 2024, homes in Payson were selling after an average of 79 days on the market, which is a 37 day increase from the previous year. Number of homes sold In August 2024, 48 homes were sold in Payson, which is an 11.6% increase from the previous year.  Other recent updates on the housing market in Payson, Arizona include:  Median listing price In July 2024, the median listing price for homes in Payson was $520,000, which is a 5.4% decrease from the previous year.  Median listing price per square foot In July 2024, the median listing price per square foot for homes in Payson was $314.  Median home sold price In August 2024, the median home sold price per square foot for homes in Payson was $293.  Tom Buron Loan Officer 480-213-1497 [email protected]

Maricopa Arizoa Here are some recent updates on the housing market in Maricopa, Arizona: Median sale priceIn October 2024, the median sale price of a home in Maricopa was $355,561, which is a 0.1% increase from the previous year. Median price per square footIn October 2024, the median price per square foot of a home in Maricopa was $191. Days on marketOn average, homes in Maricopa sell after 53 days on the market. Buyer's or seller's marketMaricopa is a seller's market, which means that homes sell faster and prices are higher. Here are some other housing market trends in Maricopa: The number of homes sold in Maricopa decreased by 11.4% year-over-year. The median days on market in Maricopa increased by 6 years-over-year. The price of 1 bedroom homes did not change, while 2 bedroom homes decreased by 8.2%. 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes decreased by 1.4%. Tom Buron Loan Officer - Land Home Financial Services inc. 480-213-1497 [email protected] May be an image of text

Maricopa Arizoa Here are some recent updates on the housing market in Maricopa, Arizona: Median sale priceIn October 2024, the median sale price of a home in Maricopa was $355,561, which is a 0.1% increase from the previous year. Median price per square footIn October 2024, the median price per square foot of a home in Maricopa was $191. Days on marketOn average, homes in Maricopa sell after 53 days on the market. Buyer's or seller's marketMaricopa is a seller's market, which means that homes sell faster and prices are higher. Here are some other housing market trends in Maricopa: The number of homes sold in Maricopa decreased by 11.4% year-over-year. The median days on market in Maricopa increased by 6 years-over-year. The price of 1 bedroom homes did not change, while 2 bedroom homes decreased by 8.2%. 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes decreased by 1.4%. Tom Buron Loan Officer - Land Home Financial Services inc. 480-213-1497 [email protected] May be an image of text