Hey Friends!
I have 5 fun facts for you today. 3 of them focus on Cotality’s (formerly Corelogic) latest report on the national housing market.
I hope you have a great weekend and a wonderful Memorial Day! 🇺🇸
Blessings,
Andrew
Fun Fact 1:
The national housing market is currently caught in a crosscurrent of pent-up demand and an affordability crisis. While home prices have not dramatically fallen on a national level, the pace of growth has notably slowed, with year-over-year price appreciation rising modestly to 0.4%. For most Americans, high mortgage rates have effectively fenced off homeownership opportunities.
“The housing market is currently stuck in a holding pattern,” notes Cotality’s Chief Economist, Dr. Selma Hepp. “Although housing inventories have been on the rise in many markets, broad discounting is still rare, keeping prices high. In fact, asking prices of newly listed homes continue to trend more than 2% above closing prices suggesting that very few sellers are budging on their expectations.”
(I can confirm this here in Colorado Springs.)
Source: Cotality Research
Fun Fact 2:
Cotality does predict that national home price growth will increase over 5% this year. (We will see.)
Source: Cotality Research
Fun Fact 3:
Here are the top ten hottest markets in their report. Youngstown, OH sits on top.
Source: Cotality Research
Fun Fact 4:
Family spending on Baseball, Soccer & Basketball are up 46% since 2019.
Source: Aspen Institute Project Play Initiative
Fun Fact 5:
The combined revenues of the Big 4 US tech companies hit a record $1.94 trillion over last 12 months. That’s larger than the GDP of all but 13 countries.
Source: Charlie Bilello
Quote I’m pondering:
“Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy.” -Dale Carnegie
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Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, an offer to buy or sell any security, or to buy or sell real estate property. Read our full disclosures HERE.
