Michael Munessar’s Post

Good morning wonderful professionals, I hope EVERYONE is well. According to the U.S. Census Bureau and U.S. Department of Housing and Urban Development, Median Sales Price for New Houses Sold in the United States [MSPNHSUS], average home sizes peaked in 2015 and are now 15% smaller. 2/3's of that move is over the last 18 months. Yes, $/sf is headed higher even if average new prices rise moderately - actually, that's already happening against moderate new price decline. Until the GFC, it was all about unit volume & home size. Post-GFC, builders rationalized not only the process but became very margin-focused. Also, maybe McMansions were just another Boomer fad...

Downward Revisions to Economic Data will Soon Stop - When the New Administration is seated January 20, 2025. Here is the latest adjustment to what appeared to be far better numbers as the presidential election approached: Sales of new single-family houses in October 2024 were at a seasonally adjusted annual rate of 610,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 17.3% below the revised September rate of 738,000 and is 9.4% below the October 2023 estimate of 673,000. https://lnkd.in/gS7ASTxT

Mapped: Home Price-to-Income Ratio By State . With steadily increasing home prices and stagnating wages among lower-wage workers, home ownership for many Americans has become increasingly unaffordable. The home price-to-income ratio measures the relationship between the median home price and the median household income. This metric is often used to gauge housing affordability, accounting for variations in the cost of living. This map shows home price-to-income ratio of each U.S. state, using data from a Construction Coverage analysis of Zillow and U.S. Census Bureau data as of June 2024.

In October, the median U.S. single-family home price rose to $437,300 (up from $426,800 in September), per U.S. Census data. 🏡 Here are 5 key housing market trends to watch in 2025. 👀 #RealEstate #HousingMarket #Trends2025 https://lnkd.in/ePwHQsJE

The Commerce Department’s Census Bureau said on Wednesday that starts in the single-family segment fell to a seasonally adjusted annual rate of 980,000 units last month, with permits for future single-family construction also dipping (by 2.3%, to an adjusted rate of 934,000 units). Still, compared with the same time last year, single-family starts were up 5.4% – and a jump in multi-family permits helped overall building permits exceed analysts’ expectations.

In October, the median sales price for a single-family home in the U.S. was $437,300, up from $426,800 a month prior, according to the latest data by the U.S. Census. With this in mind, here are five key factors to watch out for in the housing market in 2025, according to experts.

Two different statistics According to a 2021 survey, the average American has between 3 and 5 close friends. 49% of respondents said they have 3 or fewer close friends, 36% said they have between 4 and 9, and 13% said they have 10 or more. As of the fourth quarter of 2023, the median home sales price in the United States was $417,700, which is a 37% increase from the first quarter of 2020. In the second quarter of 2023, the average home price was $495,100, according to the Census Bureau and Department of Housing and Urban Development One may ask how are they related? What If I show you that If you bought a house recently there is way of to pay for it in shorter time 5, 15 or 20 years depending on the price ans the approach you decide to take

One of the greatest challenges facing new home buyers is the downpayment and closing costs. With Fannie Mae's HomeReady First, homeownership is possible for customers living in select census tracts. Learn more: https://lnkd.in/e6Zn6eGF

There is a mismatch between the prices of homes being built and the prices home buyers expect to pay, according to recent surveys from NAHB and the U.S. Census Bureau. While 38% of buyers expect to pay less than $250,000 for their next home (and 19% expect to pay less than $150,000), only 5% of homes that started construction in 2023 are actually priced under $250,000 (and a negligible count are priced under $150,000). #mortgagebrokers #mortgagelending #realtors https://lnkd.in/gTHyxNWi

Sales of new U.S. single-family homes saw a notable rebound last month following a dip in October caused by hurricanes. New home sales rose 5.9% to a seasonally adjusted annual rate of 664,000 units last month, according to U.S. Census Bureau. The bureau also revised October sales up to 627,000 units from the previous 610,000. Read more: https://lnkd.in/dJ9rn45b #UnitedStates #US #HomeSales #RealEstate #USRealestate