Rick Palacios Jr. Profile picture
Nov 10, 2021 5 tweets 4 min read Read on X
Home prices still accelerating through October in majority of housing markets we track. Handful below finally moderating (#Austin, #Boise, #Phoenix, #Seattle, & #DC). Here's #Austin.
#Boise home prices
#Phoenix home prices
#Seattle home prices
#DC home prices

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Rick Palacios Jr.

Rick Palacios Jr. Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @RickPalaciosJr

Dec 22, 2023
Quick primer on US housing, with a focus on single-family rental ownership nationally and locally.

To start, there are 146 million housing units in the US. Follow the charts left to right and you eventually get to 45 million rentals, 14 million of which are single-family. Image
Of those 14 million single-family rental homes across the country, here's how ownership by investor portfolio size looks.

Mom-and-pop investors own the majority of homes (80%), while institutions account for just 3% of single-family rental ownership nationally. Image
There are a handful of housing markets where institutions do own 10%+ of all single-family rental homes. Here's a summary for 20 of the more popular investor markets we monitor. Image
Read 4 tweets
Jan 11, 2023
Home builder construction costs finally cooling. Market commentary from our December survey of builders signals relief on the horizon...
#Dallas builder: “Hard costs continue to dip on average $3K-$5K per month. We are pushing back hard to lower our average labor and material costs. They must come down to reflect lower home selling prices.”
#Denver builder: “Almost all the home builders I am talking to are working on cost reductions. They range from -5% to -8% per plan.”
Read 11 tweets
Dec 29, 2022
Housing's had a wild up and down ride in 2022. Looking back at our report headlines, here’s how the year played out (I chose one per month to show market shifting)…
January 19th, 2022: “Prepare for Rising Rates”
February 21st, 2022: “Housing Strength Persists Despite 4% Mortgage Rates”
Read 13 tweets
Nov 11, 2022
C-suite commentary on yesterday’s Tricon Residential earnings call alluded to single-family rental ‘shadow supply’ thesis...
“Starting to see return to normal seasonality in new lease trade-outs and moderation in overall level of rent growth.”
“One of the factors at play could be a higher supply of rental homes that we’re seeing in our markets, which might be caused by would-be home sellers opting to rent out their homes in light of challenging mortgage environment.”
Read 4 tweets
Nov 9, 2022
Home builder commentary from our survey this month was about as negative as I've seen to date. Here's some of the market color that jumped out...
#OklahomaCity builder: "Biggest challenge is your customers who just closed their home and see you drop prices by $30,000."
#Jacksonville builder: "Buying land at the top of the market and having to pull every incentive lever to sell is not a recipe for success. We'll cut starts ~60% to 70% in 2023."
Read 13 tweets
Sep 10, 2022
I wrote this piece for ⁦@FortuneMagazine⁩ yesterday, hoping to shed light on two items possibly weighing down home purchase activity that don’t get all that much attention. The main points were as follows… fortune.com/2022/09/09/spe…
1) A boatload of existing homeowners are locked in and in love with their sub-5% mortgage rate (many sub-3%), most of which tell us they won't purchase again if mortgage rates stay close to today's levels.
2) Existing homeowners also account for about half of all home purchases (almost all of them use a mortgage), so the implied hit to potential home sales is meaningful near-term.
Read 5 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(