Midsize and large homes are showing steeper declines in value over the past year than smaller single-family residences, according to Zillow.com, an online real estate community based in Seattle.Zillow's quarterly national home value report found that home values fell only 0.1% in the second quarter and were 2.8% lower than in the second quarter of 2006. But midsize and large homes lost value on a year-over-year basis at the rate of 3.1% and 2.8%, respectively, while small homes fell only 1.0%. "The U.S. real estate market still appears quite anemic, at best, with many markets still doing poorly, especially those in South Florida and Southern California," said Stan Humphries, Zillow's vice president of data and analytics. "The one ray of home this period is that we've not seen another quarter-over-quarter decline as we've experienced in the past two quarters. The significantly poorer performance of condos and larger single-family homes suggests that prices for these housing sectors are still not in accord with current demand." Zillow can be found online at http://www.zillow.com.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
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The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
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The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
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