Chinese In North America(北美华人e网)

注册
返回列表 12345678» / 24
发新话题 回复该主题

1#

Redfin CEO: "Housing market has hit a ‘significant slowdown’

https://www.marketwatch.com/story/housing-market-has-hit-a-significant-slowdown-in-recent-weeks-redfin-ceo-says-2018-08-09

Housing market has hit a ‘significant slowdown’ in recent weeks, Redfin CEO says
Redfin stock dives after top exec says sudden downfall is expected to continue in August and September.


Bloomberg  “We are seeing a significant change” in the housing market, Redfin Corp. Chief Executive Glenn Kelman said Thursday.

The housing market hit a sudden and “significant” slowdown in the past few weeks that could continue in coming months, Redfin Corp.’s chief executive said Thursday afternoon.

The real-estate brokerage and website company announced second-quarter earnings Thursday afternoon that beat expectations, but the company’s third-quarter forecast came in short of what Wall Street was projecting. On a conference call to discuss the results, Chief Executive Glenn Kelman reported that Redfin had pulled down its forecast after “an unexpected drop in Redfin’s bookings growth in the past three weeks, slowing traffic growth in a weakening real-estate market.”

Redfin RDFN, -15.08%  stock, which fell in extended trading after the forecast was made public, saw that decline accelerate to a loss of almost 10% after Kelman spoke Thursday afternoon, but he did not hold back. He said a decline in U.S. home sales in June was expected to reappear in August and September after a slight relief in July, specifically calling out difficulties in markets on the West Coast that have driven home sales higher in the past few years.

“For the first time in years, we are getting reports from managers of some markets that home buyer demand is waning, especially in some of Redfin’s largest markets,” Kelman said, specifically calling out Seattle, Portland and San Jose as areas where inventory was still tight but did not seem to be pushing prices higher still.

“June sales were down in these markets by double-digits and inventory was up also by double-digits,” he said of the West Coast cities. “The trend is continuing in July and reports are now coming in from Washington, D.C.; Boston; Virginia and parts of Chicago as well that homes there are getting harder to sell.”

Both existing-home sales and new-home sales declined in June, but price gains on the homes that did sell actually accelerated, according to CoreLogic’s Home Price Index for June, which was released earlier this week. Other trackers like the S&P/Case-Shiller national index show decelerating price increases, but were still reflecting double-digit price increases in the San Francisco and Seattle areas. Pending-home sales were also lower than the previous year in June, according to the National Association of Realtors, the sixth consecutive month that metric trailed the previous year.

Redfin’s position as a website used by those who may not be actively looking to buy a home, and a brokerage that actually works with those who are buying and selling, gives it a unique perspective on the housing market. Kelman was clear that he was basing his fears on elements from both, as slowing traffic growth and worrisome rates of closing sales in three of the past four weeks caused the cautious guidance and warning.
转发
TOP
0
0
2#

Not surprising. Raising interest rate, stagnant wages, tax cut for rich, inflation and tariffs (taxes on consumers), SALT deduction limit, home mortgage interest limit
基本上只有TECH有分stock的能跟得上
TOP
0
0
3#

not a good sign for the economy...
TOP
0
0
4#

回复 1楼ArsenicL的帖子


看来最近打算买房的一定要慎重。
TOP
0
0
5#

本来这个季节就是比较slow的时候吧?

---发自Huaren 官方 iOS APP

TOP
1
5
6#

本来这个季节就是比较slow的时候吧?

---发自Huaren 官方 iOS APP


sweetme 发表于 8/10/2018 12:18:50 PM

significant slowdown != slowdown

slowdown是季节性的
significant slowdown是结构性的
TOP
5
0
7#

回复 3楼ArsenicL的帖子

Usually a republican presidency === economic downturn
TOP
4
9
8#

本来这个季节就是比较slow的时候吧?

---发自Huaren 官方 iOS APP


sweetme 发表于 8/10/2018 12:18:50 PM
不会吧,一般夏天是房市比较活跃的吧
既入世又出世;既认真生活,又有一份超然淡定
TOP
3
1
9#

本来这个季节就是比较slow的时候吧?

---发自Huaren 官方 iOS APP


sweetme 发表于 8/10/2018 12:18:50 PM
对的! 天下人都知道季节性slow down!  想买房的最好趁着slow down赶紧下手,免得又要连夜排队或大幅度加价才能买到。

:)
TOP
6
4
10#

升息就是要降价的,还要调节经济危机,两年后再买房比较好。
TOP
1
0
发新话题 回复该主题