The Evans Group

12/18/2024

🏡 Fannie Mae’s Five Predictions for 2025 📊
According to Fannie Mae’s 2025 forecast, the housing market will continue to face challenges from 2024, including affordability issues and high mortgage rates. The report outlines five key predictions that will shape the market, offering insight into home sales, price trends, and new construction in the coming year:
1️⃣ Mortgage Rates: 📈 Rates will stay above 6%, with inflation and job market stability preventing significant rate cuts.
2️⃣ Economic Growth: 📉 The economy and employment will decelerate modestly. Inflation will ease but remain above the Federal Reserve’s 2% target until 2026.
3️⃣ Existing-Home Sales: 🏘️ Sales will improve slightly to 4.25 million but remain near 30-year lows due to affordability issues and the lock-in effect, where homeowners keep low-rate mortgages.
4️⃣ New-Home Sales: 🏠✨ Limited existing inventory and strong demand will keep new-home sales robust, with the South and Mountain West dominating new-home sales thanks to favorable land availability and zoning.
5️⃣ Home Prices and Rent: 📉🏡 Home price growth will slow to 3.6%, improving affordability. Multifamily rent growth will remain modest at 2%-2.5%, with construction activity tapering off.
🔮 These insights give a glimpse into the housing trends expected in 2025! Thoughts? Agree or not agree?

08/15/2024

03/19/2024

Total housing starts in the U.S. jumped 10.7% in February to an annual rate of 1.521 million, 5.9% higher than a year ago. Single-family home starts soared 11.6% to an annual rate of 1.129 million. Building permits were up modestly last month.

10/11/2023

Borrowed from an incredibly smart Mortgage Broker!

Remember these numbers: 73/7/1.🧐
Looking over the past eighty years. Real estate values have increased 73 years, decreased 7 years, and 1 year was flat.

5 out of the 7 years was b/c of the housing bubble. Too many homes (4 million listed homes) and not enough people/buyers (generation X is smaller generation).

Current situation: not enough inventory (1.08 listed homes), more people/buyers (Gen Y/Millennials almost as big as Baby Boomers).

09/27/2023

The U.S. housing market has seen remarkable growth over the past year, with its total value surging by more than $2.6 trillion since the start of the COVID-19 pandemic, Zillow reports. Major cities such as New York, Los Angeles, San Francisco, Boston, and Miami lead in housing value, but on a state-...

09/23/2023

The first civilized city - look at that!

07/10/2023

What a time in our nation's history. Sears Catalog Homes. The Magnolia: This home was one of the largest offered through the Sears catalog. Sears sold more than 70,000 mail-order homes between 1908 and 1940. Some enthusiasts estimate that about 70% of Sears houses are still standing today.

05/31/2023

Just another tool as we move forward!