Commenting on a recent drop in new-home sales, mortgage applications, and slowing home price increases, Goldman Sachs analysts are reporting that America's housing market has hit “a pothole.”
A number of housing indicators seem to point to a slowing market, reports Ruth Mantell. "While residential investment will continue to add to economic growth, its contribution to gross domestic product is likely to narrow this quarter, with rising rates creating a downside risk for the housing sector’s outlook, according to Goldman’s Kris Dawsey and Marty Young."
"Data released Tuesday morning showed home prices continued to rise in June, but at a slower pace, echoing other reports showing a softening market. Last week, the government reported that sales of new homes in July fell 13.4%, slumping to the slowest annual pace since October, on drops across the country. Between early May and the end of July, mortgage rates increased about one point. Goldman had expected that a one-point mortgage-rate shock would only curb annual sales by about 7%."
FULL STORY: Goldman Sachs says housing has hit ‘a pothole’
Home Prices, Demand on Downward Trajectory
The once-overheated housing market continues to cool as rising interest rates reduce demand.
Zillow's 'iBuying' Algorithms Overpaid For Homes
After investing more than $1 billion in buying homes over the last few years, Zillow has ended its 'iBuying' experiment as anticipated profits fail to materialize.
Seven Charts Highlight the Strangeness of the Housing Market
The unique conditions created during the last few years have upended the U.S. housing market and led to some unusual trends.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes
Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.
Test News Post 1
This is a summary
Test News Headline 46
Test for the image on the front page.
Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
EMC Planning Group, Inc.
Planetizen
Planetizen
Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service