Shadow inventory. Construction costs. Home prices. Supply. Affordability. This webinar examines these important economic housing market indicators and more, and features in-depth insight from ATTOM Data Solutions Chief Product Officer, Todd Teta, and Zonda Chief Economist, Ali Wolf.
Click here to listen to this webinar which also looks at wallet share going into 2021 and the impact it will have on the housing market. Among other significant points presented during this webinar, is the COVID-19 vaccine and the economic implications, including the possibility of an uneven economic recovery.
Zonda’s Ali Wolf explores the K-shaped recovery scenario and key contributing factors, including low mortgage rates, favorable demographics, a thriving stock market, healthy home equity, WFH economy, and a strong labor market? According to Ali, the latter, is a crucial element missing from the recovery scenario.
Ali cites unemployment and labor stats and forecasts, and notes that spending will return before jobs; however, she suggests that a bruised labor market doesn’t necessarily mean a bruised housing market, as the housing market in particular is one standout segment that is poised for even more progress.
During the webinar, Ali dives into several areas of the economic housing market outlook, from single family home starts to new home sales, and states the key things to watch for in 2021 include:
- Gapping out/running out of lots
- Land Prices
- New home affordability
- Building material availability
- Building material costs
Also, during this webinar, ATTOM’s Todd Teta weighs in on the current conditions of the housing market, and presents a detailed analysis of telling trends over the past six months. Todd notes we’re entering 2021 with a severe lack of sellable inventory, which sets the stage for a challenging start to the year.
Todd also touches on mortgage rate trends, and mentions there are several factors that could impact rates (Fed MBS purchases, debt, GSE capital rules, conservatorship release); although, he doesn’t expect much of a shift in this area through 2021. Todd notes that he expects the late 2020 numbers to continue in Q1 and Q2, driving the outsized refi numbers, then subsiding as purchase recovers due to supply improve through Spring.
During Todd’s presentation, he also discusses residential loan volumes, sales and prices, foreclosures, home flipping and the expectations in each of these important areas of the housing market. A few key points Todd examines include:
- The strong seller’s advantage
- The history of 30-year fixed rate mortgages
- Purchase vs refi dollar volume
- Home seller tenure
- Foreclosure filings
- Home flipping ROI
ATTOM is the one-stop shop for premium property data fueling innovation, ATTOM provides analytics-ready data for real-world applications. ATTOM blends property tax, deed, mortgage, foreclosure, environmental risk, natural hazard and neighborhood data for more than 155 million U.S. residential and commercial properties, multi-sourced from more than 3,000 U.S. counties. ATTOM’s property data fuels growth across many industries to help drive decisions while delivering data in a variety of flexible customer solutions, including Data-as-a-Service (DaaS), property data APIs and bulk data licensing.
Zonda enables access to the housing industry’s most comprehensive research platforms, 500+ housing and economic metrics, real-time price notifications, and curated and insightful market analysis.
Want to learn more about expectations for economic housing market?
Click here to listen to the entire webinar.