What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Real Estate

Zillow: Home value appreciation slows nationwide

Seattle experienced most significant depreciation

In December 2018, the median U.S. home appreciated 7.6% year over year in value, totaling $223,900, according to Zillow’s latest housing market report.

Notably, Zillow indicates December’s rate of appreciation is only slightly higher than December 2017’s percentage of 7.4%, signaling an overall slowdown in annual home value growth.

This latest data is yet another sign that home prices are appreciating at a slower rate.

“Locally, annual home value growth slowed between the end of 2017 and the end of 2018 in 19 of the nation’s 35 largest markets,” Zillow writes. “And in some cases, the slowdown was fairly dramatic – median home value growth slowed by 3 percentage points or more by the end of 2018 compared to the end of 2017 in five major markets.”

These five major markets experienced significant slowdowns in annual home value growth:

Seattle: Decreased 7.4%
San Jose: Decreased 6.9%
Philadelphia: Decreased 3.4%
Sacramento: Decreased 3.3%
Los Angeles: Decreased 3.1%

However, Zillow points out that although home value growth retreated in some markets, affordable Southern and Midwestern markets heated up in 2018.

According to Zillow’s analysis, home value growth accelerated year over year in December 2018 in 16 of the nation’s 35 largest markets, rising the most in Indianapolis.

These five major markets experienced significant appreciation in annual home value growth:

Indianapolis: Increased 6.8%
Atlanta: Increased 5.1%
Houston: Increased 2.9%
Charlotte: Increased 2.6%
Cincinnati: Increased 1.9%

Notably, as home value appreciation slowed down throughout last year, Zillow also highlights that housing inventory also experienced declines.

Inventory fell slightly over the past year, down 0.4% since December 2017. This came after three consecutive months of gains in the number of homes for sale, suggesting that national sustained inventory growth is not here yet,” Zillow writes. “Still, several major markets that were starved for homes for sale are seeing big gains.”

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