The Latest Breaking News from Housing Market

Tesla CEO Elon Musk warned about a risk that looms large for the housing market, repeating a thought he expressed a year ago

Tens of thousands of realtors are giving up on the profession after their ranks swelled earlier in the pandemic when the housing market was soaring.

As baby boomers downsize and millennials finally enter the housing market, they are in direct competition for similarly priced and sized homes.

The housing market remained soft in April, a new report by the National Association of Realtors (NAR) shows. Sales of existing homes — previously occupied properties, rather than newly built homes — resumed their long downward slide. The number of sales in April was off 3.4% from last month and…

David Miles says working from home, stalling population growth and higher interest rates will shape market

Millennials are the largest generation in the U.S., and everyone has been expecting members of this massive demographic cohort to reshape the housing market. So far, however, it hasn’t quite happened.

Bidding wars. Lack of inventory. Offers above asking price. All characteristics of the hot local housing market, these trends are now also showing up in Chicago’s rental market.

“Fundamentally, every major housing market in the country is overpriced right now,” says Matt Saunders at John Burns Research and Consulting.

The housing market will need to rely on foreign demand to stimulate growth, as domestic buyers are facing challenges in obtaining loans, evidenced by a decline in residential transfers in the first quarter of 2023.