Home prices in the US are up over 50% in the last 5 years, more than double the increase in wages, per Charlie Bilello.
— unusual_whales (@unusual_whales) October 9, 2024
Half of all listings have lingered on the market for at least 60 days, the highest since 2019, per Redfin.
— unusual_whales (@unusual_whales) October 9, 2024
"House-rich consumers are using their homes to help them get out of debt," per YF.
— unusual_whales (@unusual_whales) October 9, 2024
Use of home equity lines of credit — a type of revolving loan that developed a troubled reputation for its role in the 2008 financial crisis — is on the rise.
According to the Consumer Financial Protection Bureau, nearly 60% of the 50.8 million active mortgages have interest rates below 4%.
— unusual_whales (@unusual_whales) October 9, 2024
About 25 of every 1,000 homes were sold between January and August. That means 37% fewer homes were sold between January and August this year than during that same period in 2021, per Redfin.
— unusual_whales (@unusual_whales) October 9, 2024
Austin, Texas saw the largest percentage decrease in home sales over the last five years of all 50 major metro areas analyzed by Redfin.
— unusual_whales (@unusual_whales) October 9, 2024
The Texas state capital recorded 30 sales for every 1,000 homes this year, just about half of the 2019 rate, per Redfin.
