Blog - Mike Esteb

Monday's With Matthew

Housing and Economic Update

Gardner jumps right into the data releases that came out in August and starts with the new housing permits and starts. New home permits (single family permits) fell by 17% in July and they have been heading backwards since March. Although we have seen a pull back over the past few months the trend […]
Monday's With Matthew

Update on Homes in Forbearance

This was a great month to look at the data for the number of homes in forbearance as the program stopped taking new applications at the end of June. The situation today is a vast improvement from where we were last may. More than 4.76 homes were in the program last May, but by […]
Monday's With Matthew

Housing Affordability Declines as Prices Continue to Rise and Incomes Fall

By: Michael Hyman, A RESEARCH DATA SPECIALIST FOR THE NATIONAL ASSOCIATION OF REALTORS®. At the national level, housing affordability declined in April compared to a year ago, according to NAR’s Housing Affordability Index. Affordability declined in April compared to March as the median family incomes declined by 1.0% while the monthly mortgage payment increased 16.1%. The […]
Monday's With Matthew

Is a Housing Bubble on the Horizon?

Today’s Monday’s with Matthew looks a bit different. While this 30 minute video is longer than the others, it is full of great information regarding the history on the housing crash in 2007 and whether or not we are in the midst of a housing bubble.

Monday's With Matthew Housing and Economic Update Gardner jumps right into the data releases that came out in August and starts with the new housing permits and starts. New home permits (single family permits) fell by 17% in July and they have been heading backwards since March. Although we have seen a pull back over the past few months the trend […]

Monday's With Matthew Update on Homes in Forbearance This was a great month to look at the data for the number of homes in forbearance as the program stopped taking new applications at the end of June. The situation today is a vast improvement from where we were last may. More than 4.76 homes were in the program last May, but by […]

Monday's With Matthew Housing Affordability Declines as Prices Continue to Rise and Incomes Fall By: Michael Hyman, A RESEARCH DATA SPECIALIST FOR THE NATIONAL ASSOCIATION OF REALTORS®. At the national level, housing affordability declined in April compared to a year ago, according to NAR’s Housing Affordability Index. Affordability declined in April compared to March as the median family incomes declined by 1.0% while the monthly mortgage payment increased 16.1%. The […]

Monday's With Matthew Is a Housing Bubble on the Horizon? Today’s Monday’s with Matthew looks a bit different. While this 30 minute video is longer than the others, it is full of great information regarding the history on the housing crash in 2007 and whether or not we are in the midst of a housing bubble.

Monday's With Matthew Inventory, Mortgage Rates, and New Construction Matthew Gardner’s latest video on the housing market is full of important information regarding inventory, mortgage rates, future predictions, and new home builds. There continues to be an extremely limited amount of inventory, but Gardner is still expecting that the number of home sales will increase by more than 11% compared to last year. With […]

Monday's With Matthew Home Ownership Rates Matthew begins with information on the current home ownership rates and dives into the data regarding home buying and the younger generation. The ownership rate for millennials is increasing and the current rate of 38.5% is a share not seen since back in 2011. Gardner believes this number will continue to rise over the next […]

Monday's With Matthew Housing & Economic Update Matthew came out with his first video for 2021 and it’s full of great information! If you don’t have time to watch the full video we have provided some highlights below. Starting with The National Association of Home Builders report we can see that the index has slipped from 86 to 83, but builder’s still […]

Monday's With Matthew The 2021 Housing Forecast This past year mortgage rates have broken record lows, and we have watched them drop week after week. Matthew Gardner predicts that rates will most likely bottom out in the current quarter but he doesn’t see mortgage rates increasing significantly next year. Regarding existing home sales, Matthew Gardner forecasts that sales should be up by […]

Monday's With Matthew The Latest US Home Sales Data Existing home sales rose for the 5th consecutive month, and sales are 26.6% higher compared to a year ago. As sales rose in October, so did prices. The median home price in October was up by 15.5% compared to a year ago, and we haven’t seen that pace of price growth since 2006. Mortgage rates […]

Monday's With Matthew Housing Affordability Index Quick Update from Matthew Gardner: How Will Election Results Impact the Housing Market? Michael Hyman is the National Association of Realtor’s Research Data Specialist. Below is his most recent article from November 13, 2020, discussing the housing affordability index, median family income, and mortgage rates. “At the national level, housing affordability declined in September 2020 […]

Monday's With Matthew Analyzing the US Job Market Jobs continue to return, but the pace has slowed significantly. The country added 638,000 jobs in October, which was surprisingly strong due to the current rate of COVID-19 cases. It’s good to see the unemployment rate drop, but the amount of people who have been unemployed for more than six months has increased by 1.2 […]

Buyers 4 Reasons Why the Election Won’t Dampen the Housing Market Tomorrow, Americans will decide our President for the next four years. That decision will have a major impact on many aspects of life in this country, but the residential real estate market will not be one of them. Analysts will try to measure the impact feasible changes in regulations might have on housing, the effect […]

Buyers The Latest Housing Data At the end of Matthew Gardner’s video he states that the housing market continues to outperform, but the pace of price growth is not sustainable and while it has to start tapering off at some point it isn’t quite there yet. Check out the graphs below or watch his video to see what was going […]

Monday's With Matthew The Latest Housing Information At the end of Matthew Gardner’s video he states that the housing market continues to outperform, but the pace of price growth is not sustainable and while it has to start tapering off at some point it isn’t quite there yet. Check out the graphs below or watch his video to see what was […]

Buyers Mortgage Rates and Housing Affordability What the below means in layman’s terms, is the low interest rates have fueled the housing market. This is causing home values to go up faster than mortgage rates are dropping. As a result we could find many buyers getting priced out of the market. When buyers exit a sellers market, supply and demand […]

Monday's With Matthew Interest Rates and Housing Affordability What this means in layman’s terms, is the low interest rates have fueled the housing market. This is causing home values to go up faster than interest rates are dropping. As a result we could find many buyers getting priced out of the market. When buyers exit a sellers market, supply and demand is affected. […]

Buyers Housing Affordability Weakens in August 2020 as Home Prices Rose Faster than Median Family Incomes At the national level, housing affordability declined in August 2020 compared to a year ago and fell compared to July, according to NAR’s Housing Affordability Index. Affordability dipped in August compared to August as the median family income rose by 2.2% while the median home prices rose by 11.7%. The effective 30-year fixed mortgage […]

Sellers Three of the Latest Reports Show Housing Market Is Strong The residential real estate market is remaining resilient as the country still struggles to beat the COVID-19 pandemic. Three separate reports recently revealed how the housing market is still showing growth. Here’s a look at each one. 1. Ivy Zelman’s Real Estate Broker Survey The survey explains that purchaser demand remains strong: “This month’s overall homebuyer […]

Covid-19 New Index Reveals Impact of COVID-19 on Real Estate Earlier this month, realtor.com announced the release of their initial Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted average of four key components of the housing industry, tracking each of the following: Housing Demand – Growth in online search activity Home Price – Growth in asking […]

Uncategorized Best Time to Sell in Gig Harbor? When Competition Is at an All-Time Low In a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won’t sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they are “seriously worried.” That concern seems reasonable considering the current condition of the economy. The data, however, is showing that home purchasers are still […]