To outside analysts, it appears Zillow got out of iBuying just in time. Now the company is looking ahead to a post-downturn world. Here are the biggest challenges Zillow will face in 2023.
Category: Markets & Economy
Real estate leaders see signs of market thawing
At Inman Connect New York on Wednesday, Sue Yannaccone and Glenn Sanford talked about positive market indicators and taking care of employees that remain post-layoffs.
French CEO celebrates similarities, differences in US market
Iad Group CEO Clément Delpirou explained the shared challenges in agent recruitment, retention, technology and adjusting to a shifting market at Inman Connect New York on Tuesday.
Home prices are looking softer to Fannie Mae economists
With a recession looking increasingly likely, Fannie Mae economists expect national home prices to fall 6.7 percent over the next two years.
Single-family housing starts leap 11% as permits and completions fall
Overall housing starts clocked in at a seasonally adjusted annual rate of 1,382,000, 1.4 percent below levels recorded in November, according to new data released Thursday by the U.S. Census Bureau.
This is where it takes the longest amount of time to save up for a home
In Glendale, California, a homebuyer with a median household income for the area can expect to save for 15.1 grueling years, compared to counterparts in Detroit, who will save for just 2.6 years.
Pending home sales fall to lowest level since 2015, new data shows
Pending home sales dropped 32 percent annually during the four-week period ending Jan. 1, with the biggest drop-offs recorded in markets that took off during the pandemic, according to Redfin.
Monthly payments drop $300 and some homebuyers wade back in
As home price growth has slowed, mortgage payments have decreased and days on market have risen, homebuyers dip their toes back into the market, according to a new report from Redfin.
A sales uptick in 2023? Zillow’s senior economist thinks it’s likely
During a Connect Now session on Thursday, Zillow Senior Economist Dr. Orphe Divounguy predicted affordability will “stabilize” in 2023, setting the stage for an increase in home sales.
Fed slows rate hikes, but remains wary of entrenched inflation
Half a percentage point “is still a historically large increase and we still have some ways to go,” Fed Chairman Jerome Powell warns as policymakers wrap up final meeting of the year.