Housing Market Perspectives is published by the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis on key housing indicators and trends that economists are watching.
Housing appears to be a bright spot in a gloomy economic outlook, but some data suggest weakness ahead.
Mortgage rates tend to move in lockstep with longer-term Treasury yields. Factors in the retail mortgage market may explain why this isn’t happening.
Read why the past decade’s outsized gains in housing wealth among Hispanic and black families haven’t reduced longer-term racial wealth gaps.
Over the past year, four housing indicators have moved in ways consistent with patterns seen before three previous recessions.
Why the rapid rise in national house price indexes? The answer may lie less in “irrational exuberance” than in the costs of land, lumber and labor.
Based on previous cycles, the recent downturn in U.S. home sales is consistent with a broader economic slowdown in late 2019 or early 2020.
The high share of young adults that rent today doesn’t suggest the Great Recession or other events have pushed them far off course.
Recent changes in mortgage rates, existing home sales, real house prices and residential investment mirror those seen in past late-stage economic expansions.
Read how a country’s homeownership rate in 2005 predicted its per capita growth trajectory and homeownership rate a decade later.
Read how provisions of the new tax code, notably new limits on the mortgage interest deduction, could influence various aspects of housing choice.
Learn why homeownership should comprise a limited share of a family’s total assets—even after the recovery in house prices.
Read how housing and consumer spending are powering the economy like never before, even as overall GDP growth remains weak.
Wealth gains for blacks and Latinos suffered between 1989 and 2013 because most of their wealth was concentrated in homeowners‘ equity.