Steve Harney
@SteveHarney
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Trust is earned, respect is given. and loyalty is demonstrated. Betrayal of any one of those is to lose all three. - Ziad K. Abdelnour
Joined January 2009
2 Thessalonians 3:13 “And as for you, brothers and sisters, never tire of doing what is good.”
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People ask me why I am so obsessed with showing that housing values in this country are stable. The reason? This graph shows that…right now…22% of Americans still believe home values will depreciate over the next 12 months. This is ~double the pre-pandemic percentage. That
What happened to home prices in 2023? What’s about to happen to home prices in 2024? I’ll answer both those questions in depth this Monday, March 4th. Hope to see you there…BTW, it’s FREE!!
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Regarding future home price appreciation, this is from the Home Price Expectation Survey (a survey of a nationwide panel of over one hundred economists, real estate experts and investment & market strategists) released a few days ago…
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Please heed Daniel’s advice…
I've said it before, and I'll say it again. We are in the early stages of the greatest transfer of wealth in the history of mankind. It's going to move the market, figure out how to be in the middle of that trend and you'll do ok. 🫡
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The home price forecasts for 2024 have been adjusted UPWARD from forecasts just three months ago by these entities. To them, house values will continue to be resilient in this new year.
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When someone says home values “always” go up and down, let them know that…over the last 43 years…that’s not true. As everyone knows, home prices depreciated during the Great Financial Crisis. They appreciated the other 39 years.
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A state-by-state breakdown of the recent FHFA Home Price Index.
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Regarding home prices, their “estimated performance”* as reported by the Home Price Expectation Survey this morning was revised UPWARD for each of the next four years. *@NewsLambert 😉
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Should we be surprised that sales contracts signed in January, as rates were on the rise, retreated a bit? Uh, no. Rising rates hit affordability AND discourage sellers from selling. #FirstAmEcon
Pending home sales in January dropped 4.9%, according to the National Association of Realtors®. The Northeast and West posted monthly gains in transactions while the Midwest and South recorded losses. https://t.co/9JIQTT8eKQ
#NARPHS
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I will also be sharing the “estimated performance” of home prices over the next 5 years and what it could mean to a homeowner’s net worth.
What happened to home prices in 2023? What’s about to happen to home prices in 2024? I’ll answer both those questions in depth this Monday, March 4th. Hope to see you there…BTW, it’s FREE!!
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What happened to home prices in 2023? What’s about to happen to home prices in 2024? I’ll answer both those questions in depth this Monday, March 4th. Hope to see you there…BTW, it’s FREE!!
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In 2023, home prices did not face the Armageddon that many had predicted. Actually, they did better than the 40+ year average appreciation of ~4.5%.
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All 20 Metros covered by Case-Shiller showed Y-O-Y home price gains in 2023.
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Here are the M-O-M shift in home prices throughout 2023 from both Case-Shiller and FHFA…
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This morning, Case-Shiller reported home prices increased 5.5% in 2023. “Looking back at the year, 2023 appears to have exceeded average annual home price gains over the past 35 years. With trend growth at the national level of 4.7%, a 5.5% return demonstrates solid, steady
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From the FHFA this morning: “U.S. house prices rose 6.5 percent between the fourth quarter of 2022 and the fourth quarter of 2023, according to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI®). House prices were up 1.5 percent compared to the third quarter
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