US Housing View – April 25, 2025

On prices, rent, and mortgage:    

  • US Mortgage Rates Surge by Most in a Year as Tariffs Hit Markets – Bloomberg
  • US Mortgage Rates Rise Again, Reach Highest Since Mid-February – Bloomberg
  • Zillow turns full-blown housing market bear—just look at its new forecast. Zillow projects that U.S. home prices will fall 1.7% between March 2025 and March 2026. Last month, Zillow economists still thought prices would rise this year. – Fast Company
  • Home Price Growth Remains Steady in First Quarter – Fannie Mae
  • National Home Price Appreciation (HPA) Index—March 2025 – AEI
  • Housing market shift: 60 major markets are now seeing falling home prices. Among the 300 largest metro-area housing markets, 60 are seeing falling home prices on a year-over-year basis, according to ResiClub’s monthly analysis. – Fast Company
  • Cape Cod Sounds Alarm on Housing Crisis Amid Skyrocketing Home Prices – Realtor.com
  • Americans Are Migrating Back to the Heartland States—and It’s Causing Home Prices To Spike in These 5 Cities – Realtor.com
  • March 2025 Rental Report: Rents Continue To Fall, but Tariffs on Imported Steel and Aluminum Could Exert Upward Pressure on Prices – Realtor.com  
  • Profit Margins on Home Sales Continue to Drop in First Quarter – ATTOM


On sales, permits, starts, and supply:    

  • U.S. Homes Are Selling at the Slowest Pace in 6 Years – Redfin
  • Continued Gains Projected for Remodeling Amid Economic Uncertainty – Harvard Joint Center for Housing Studies
  • America’s housing shortage by the numbers – The Hill
  • US single-family housing starts tumble to an eight-month low in March – Reuters
  • The Home-Building Season Is Starting Off Badly, New Data Shows. Economic uncertainty and rising material costs from tariffs darken the outlook for newly built homes – Wall Street Journal
  • B.C. group warns that softwood tariffs could lead to soaring U.S. rebuilding costs – The Globe and Mail
  • Single-Family Home Construction Plunges as Builders Grapple With Higher Costs and Weak Demand – Realtor.com
  • U.S. Homes Are Selling at the Slowest Pace in 6 Years – Redfin 
  • California Home Sales Up 4.9% YoY in March; 4th Look at Local Housing Markets – Calculated Risk
  • Lawler: Early Read on Existing Home Sales in March – Calculated Risk
  • NMHC on Apartments: Market conditions Tightened in Q1 pre-Tariffs. Leading indicator for Rents and Apartment Vacancies turned slightly positive in Q1, before Tariff Announcement – Calculated Risk
  • Build, Baby, Build: Unshackling Homeowners and Developers from Local Red Tape – New America
  • New Home Sales Increase to 724,000 Annual Rate in March. Median New Home Price is Down 12% from the Peak due to Change in Mix – Calculated Risk
  • New Home Sales Rise in March – NAHB
  • New-Home Sales Make a Surprising Jump Led by Affordable Inventory – Realtor.com
  • The Sun Belt housing market is so weak the largest U.S. homebuilder pulls back. D.R. Horton is ramping up concessions in regional housing markets—particularly in pockets of Florida and Texas where active inventory has climbed the most. – Fast Company
  • See How Your State Ranks on the New Realtor.com Report Card for Homebuilding and Affordability – Realtor.com


On impact of tariffs on housing:

  • US labor market stable; tariffs depress single-family homebuilding – Reuters


On other developments:    

  • Booming Houston. What’s driving it? – Home Economics
  • 9 Free Ways to Increase Arizona Home Ownership. What Arizona can do to help stabilize house prices, which would increase Arizona home ownership, family wealth, and economic growth, all for FREE. – Real Estate Decoded
  • One map shows the affordable housing gap for low-income renters across the US – Business Insider
  • Housing and Demographics – Calculated Risk
  • White House Eyes Overhaul of Federal Housing Aid to the Poor. The Trump administration has considered sharply curtailing vouchers as part of its budget for the 2026 fiscal year. – New York Times
  • Trump Administration Aims to Sell Housing Department Headquarters. The building has been added to a list of properties that the administration says it is trying to offload in order to eliminate waste. – New York Times
  • Low-Income Renters Can’t Get the Housing Vouchers They Need. A fraction of rent-burdened households receive Section 8 vouchers — and they may not even be able to use them. – New York Times
  • As Trump jettisons its staff, HUD puts its D.C. headquarters up for sale – NPR
  • How is the climate crisis affecting affordable housing? Housing costs all over the world are skyrocketing, and climate change-driven disasters are only making it worse. Could city planning and risk reduction help? – DW
  • Why Florida’s Condo Owners Are So Desperate to Sell. Insurance increases, special assessments and limited financing options have elevated costs beyond what many can bear – Wall Street Journal
  • Florida Homeowners Are in Crisis. Lawmakers Want To Offer Tax Relief as a Solution – Realtor.com
  • A house divided by housing – Politico
  • California Housing Bills Face Crucial Hearing Today. Bills designed to allow more starter homes and apartments near transit face an uncertain future in the state Senate’s housing committee. – Reason
  • The Rooftop: Innovative Ideas to Solve the Housing Crisis. A new blog and multimedia series hosted by New America, shaped by its contributors – New America 
  • The Future of Fair Housing in America: A Q&A with Chiraag Bains – New America 

Posted by at 5:00 AM

Labels: Global Housing Watch

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