Latest news with #HomeValueIndex
Business Times
01-08-2025
- Business
- Business Times
Australia's home prices climb further as rental growth refuels
[CANBERRA] Australian home prices climbed for a sixth straight month with every major city reporting gains, while signs of resurgent rents are set to stretch the budgets of households in this segment. The Home Value Index advanced 0.6 per cent in July, property consultancy Cotality said in a statement on Friday (Aug 1). Darwin was once again the top gainer, climbing 2.2 per cent, while the bellwether Sydney market rose by 0.6 per cent. 'The outlook for housing values remains positive,' Cotality said in its report. 'We expect values to continue posting a broad-based but modest rise through the rest of the year, supported by an outlook for lower interest rates, improving sentiment and short housing supply.' Money markets are pricing a rate cut at the Reserve Bank's meeting this month as almost certain after inflation data two days ago showed an across-the-board cooling of price pressures. Still, Cotality highlighted affordability constraints and lingering uncertainty as constraints to a more rapid uptick in property prices. On the flip side, a persistent lack of supply is supporting home prices alongside expectations of further rate cuts. In the past three months, national house values have risen by 1.9 per cent, adding approximately US$10,800 to the median value. Data to March show the national dwelling value to household income ratio, at 7.9, is just shy of record highs, according to the report. Rental vacancy rates are also holding close to historic lows, at 1.7 per cent nationally in July, Cotality said, adding there has been some evidence of quickening growth trends. 'The reacceleration in rental growth is clearly bad news for renters, where the median income household would already need around a third of their pre-tax income to pay rent,' said Tim Lawless, research director for Cotality, formerly CoreLogic. 'Renting households have historically skewed to younger, lower-income cohorts, so no doubt the sting of high rents is having an even more acute impact on household budgets.' BLOOMBERG
Bloomberg
31-07-2025
- Business
- Bloomberg
Australia's Home Prices Climb Further as Rental Growth Refuels
Australian home prices climbed for a sixth straight month with every major city reporting gains, while signs of resurgent rents are set to stretch the budgets of households in this segment. The Home Value Index advanced 0.6% in July, property consultancy Cotality said in a statement on Friday. Darwin was once again the top gainer, climbing 2.2%, while the bellwether Sydney market rose by 0.6%
Newsweek
21-07-2025
- Business
- Newsweek
House Prices Falling Nationwide in Worrying Sign for Economy
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The U.S. housing market is cooling, and house prices are falling in an increasing number of metro areas in what economists have pointed to as another potential risk for the sector and the wider economy. According to Zillow's Home Value Index – a monthly gauge of house prices and housing market trends – national home prices rose 0.2 percent year-over-year in June, a marked deceleration from the 3.2 percent increase seen in the previous 12 months. However, a growing number of metro areas are seeing house prices fall. Analysis by ResiClub of the Zillow report found that 110 of the nation's 300 largest housing markets (36 percent) have seen home prices fall since June of last year. This compares to a year-over-year count of only 31 in January. Why It Matters While falling house prices will improve affordability and potentially allow more renters to enter the market, it comes with a significant loss for existing owners, given that for many Americans, a home is their largest financial asset. Should prices continue to trend downward, homeowners may also delay selling to avoid incurring a loss on their property, leading to reduced inventory and a stalled housing market. As well as the direct effects, a cooling housing market can also signal deeper problems and, as certain economists have recently warned, serves as a potential precursor to a wider economic downturn. In an aerial photo, single family homes are seen in a neighborhood on July 3, 2025 in Thousand Oaks, California. In an aerial photo, single family homes are seen in a neighborhood on July 3, 2025 in Thousand Oaks, To Know According to ResiClub's analysis of the Zillow reports, the number of markets in the nation's 300 largest now seeing prices fall has risen from 31 in January, to 80 in March, to 110 in the latest reading for June. Major declines have been recorded in Austin, Texas (down 5.8 percent year over year), as well as Tampa and Miami, Florida, down 5.7 percent and 3.8 percent, respectively. The research outlet noted that prices continue to rise – albeit more modestly – in areas where inventory remains low, particularly in the Northeast and Midwest. The findings echo recent research by mortgage data and technology firm ICE. Their research found that annual home price growth slowed to 1.3 percent in June from 1.3 percent in May, with 30 percent of the largest markets seeing prices drop by at least one percent from recent peaks. Andy Walden, vice president of research and analysis at ICE, told CNBC that this was in part due to increasing inventory levels, which had increased affordability but made many reluctant to list their properties. Housing inventory has risen sharply in 2025, according to with the number of active listings growing from 829,000 at the start of the year to nearly 1.1 million in June. This follows a sharp drop during the COVID Pandemic, which pushed listings to 347,000 in February 2022, the lowest level since began its monthly tallies. The prospect of a further slump in prices last week prompted Mark Zandi, chief economist at Moody's Analytics, to issue a "red flare" warning for the U.S. housing market. Zandi blamed this largely on persistently elevated mortgage rates and warned that these could further impact prices, as well as home construction and sales. "Housing will thus soon be a full-blown headwind to broader economic growth," he wrote on X, "adding to the growing list of reasons to be worried about the economy's prospects later this year and early next." What People Are Saying Andy Walden, head of mortgage and housing market research at mortgage technology firm Intercontinental Exchange, told CNBC: "There are two competing forces in the housing market right now. Increasing inventory levels are helping to make homes more affordable, but prices are falling in an increasing number of markets and homes are taking longer to sell, which could make homeowners reluctant to list." Moody's Chief Economist Mark Zandi wrote on X: "House price growth had held up well. But this, too, is changing, as prices have gone sideways and are set to fall. 7% [mortgage rate] is hammering demand, and there are more listings. Given their demographic and job situations, locked-in homeowners must move. They can only work around these needs for so long." What Happens Next? In a speech by Adriana D. Kugler last week, the Federal Reserve governor said that the future of the housing market depends "materially" on the nation's currently unclear economic outlook.
Buzz Feed
07-07-2025
- Business
- Buzz Feed
You'll Allegedly Retire With The Most Money If You Live In These 3 States
It may come as no surprise (especially in today's economy) that over half of the US population is more scared of running out of money than dying. So, this new study has highlighted the top states where residents are best positioned to retire with the most financial security. To determine which U.S. states offer the best value for residents, evaluated all 50 states using the following cost-of-living factors: Each state was assigned a score from 1 to 10 for each category, based on how it ranked compared to other states (10 representing the most favorable ranking). These scores were then totaled to produce a final score out of 100 for each state. The higher the total score, the more cost-effective the state is considered to be for stretching your income. So, without further ado, South Dakota is the best state for saving money, according to this study. The key factors in determining this were the state's affordable rent prices, low state and local taxes, grocery costs, and childcare expenses. The state received a 73.6 out of 100. As of mid‑June 2025, Zillow reports the average rent across all property types and bedroom counts in South Dakota is approximately $1,220 per month. Missouri came in second, and it features some of the lowest home prices in the country. They also performed strongly in several other cost-related categories, including groceries, childcare, gas prices, and even the cost of a cup of coffee. According to Zillow's Home Value Index, the average home price in Missouri was $260,908 in May 2025. Coming in third, Kentucky offers affordable living with low rent and home prices. The state also benefits from low state and local taxes, along with groceries, childcare, and gas. Kentucky has a flat 6% statewide tax with no additional local sales taxes, and most groceries and prescription drugs are tax-free. Despite not ranking in the top half of states for average income, these three make up for it with significantly lower cost of living. Here are the top ten states, and their overall ranking from the study: Now that we've gone over the best states for retirement, let's discuss the worst. California ranked the worst, and Hawaii and New York also scored in the bottom three. Interestingly, these bottom states perform well in terms of average income, but their high costs of living expenses, like taxes, housing, and everyday expenses drag down their overall scores. (California currently has the highest average gas prices in the United States at $4.91 per gallon for regular unleaded gasoline!) Here is how other states stacked up: So, what are your thoughts on this study — and retirement in general? Let us know in the comments!
Yahoo
11-06-2025
- Business
- Yahoo
'Market Crashing Before Our Eyes': Buyers Are Backing Out Of Deals In Record Numbers Amid Relentlessly High Interest Rates
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Power up the flux capacitor, climb aboard your DeLorean and prepare to travel back to 2008 because recent headlines concerning a real estate market crash seem very familiar. The main differences between today's imploding market and that of 17 years ago were that in '08, bad mortgages and over-inflated house prices were the issue. Today, high interest rates, soaring insurance costs, economic fears, and stubborn inflation are the primary problems. The results, however, are pretty similar — much of the U.S. is becoming a buyer's market, according to a recent report by Redfin (NASDAQ:RDFN). Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – The numbers are shocking. In April, 56,000 home purchase contracts were canceled — just over 14% of all pending transactions, Redfin reports. Not since the early days of the pandemic have so many deals failed to get to the finish line. 'We see a lot of deals collapsing, especially in major markets like Las Vegas and Phoenix,' Joel Efosa, the CEO of Fire Cash Buyer, told the Daily Mail.' It's especially first-time buyers. Some are losing their jobs, others simply no longer qualify for loans because they don't make enough or have good credit.' He noted: 'Realtors are asking sellers to accept the truth — the market is crashing before our eyes.' Prices have fallen year-over-year from April to the same time last year in 20 major metro areas, Zillow's Home Value Index shows. Most of the declines have occurred in Sunbelt states, such as Arizona, Texas, Florida, and Louisiana, which have followed a similar pattern to 2008. Trending: This Jeff Bezos-backed startup will allow you to . However, Zillow reports that the Northeast has yet to tip into a buyer's market, where sellers still have the upper hand in cities like Buffalo, New York; Boston; Hartford, Connecticut; and Providence, Rhode Island. In these markets, there are at least 10 engaged home shoppers for every listed home. The ongoing discussion of tariffs and increasing concerns about higher prices for food, furniture, construction, cars, and more are keeping potential buyers on the sidelines. 'They're hearing the words' tariffs' and 'recession,' and it's making them nervous that if they buy now, the value of their home will decline, and they don't know whether mortgage rates will go up or down,' Desiree Bourgeois, a Redfin realtor in Detroit told the Daily Mail, 'There's a lot of uncertainty out there, with buyers trying to understand how their purchase would fit into their personal finances and the broader economic puzzle.'Florida has proven to be a bellwether state for the housing market. In 2008, the oversupply of homes, many of which were purchased by unqualified buyers with subprime mortgages, led to massive foreclosures. Now, a halt to inbound migration, coupled with extreme weather and soaring costs associated with insurance and homeowners' fees, has led to an abundance of homes sitting on the market. Current listings in Miami-Dade County, which includes one of the most expensive metro markets in Florida and the country, rose by over 42 percent in the first week of June compared top the same time last year, according to The MIAMI Association of Realtors. 'If these buildings are subject to reserve requirements, buyers want to make sure they're getting into a situation where the condos have their act together,' Brad O'Connor, chief economist at trade group Florida Realtors, told The Wall Street Journal. 'Whether it's the lenders or the buyers themselves, we've seen a slowdown in condo demands.' Read Next: With Point, you can , which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. Image: Shutterstock This article 'Market Crashing Before Our Eyes': Buyers Are Backing Out Of Deals In Record Numbers Amid Relentlessly High Interest Rates originally appeared on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
