The once-overheated housing market continues to cool as rising interest rates reduce demand.
After years of sharply rising prices, the U.S. housing market is seeing a reversal as costs drop and demand slows. As Lizzie Kane reports for Bloomberg, “A measure of prices in 20 large US cities in August fell 1.3% on a month-over-month basis, the most since March 2009, according to the S&P CoreLogic Case-Shiller index.”
According to Kane, “While prices are still up year-over-year, they’re slowing at a record pace. A national measure of prices increased 13% in August from a year earlier, down from a 15.6% gain in July, the biggest deceleration in the history of the index.”
Demand continues to slow, too. “Sales of existing homes fell for an eighth straight month in September, according to National Association of Realtors data, while new home construction also dropped in September, according to recent government data.” Meanwhile, new home construction has slowed as builders cancel deals to adjust to the slowdown.
FULL STORY: Housing Market Hits Brakes as US Prices Fall Most Since 2009
Austin Metro Home Sales Slow Dramatically
After a whirlwind of rising costs and sharply spiking demand for housing in smaller cities, the housing market is cooling down to pre-pandemic levels.
Seven Charts Highlight the Strangeness of the Housing Market
The unique conditions created during the last few years have upended the U.S. housing market and led to some unusual trends.
Ultra-Competitive Housing Market Shows No Signs of Slowing
Home prices in the Puget Sound region continue to skyrocket as buyers engage in intense bidding wars and demand continues to outpace supply.
The Right to Mobility
As we consider how to decarbonize transportation, preserving mobility, especially for lower- and middle-income people, must be a priority.
America’s Best New Bike Lanes
PeopleForBikes highlights some of the most exciting new bike infrastructure projects completed in 2022.
Early Sharrow Booster: ‘I Was Wrong’
The lane marking was meant to raise awareness and instill shared respect among drivers and cyclists. But their inefficiency has led supporters to denounce sharrows, pushing instead for more robust bike infrastructure that truly protects riders.
Colorado Emissions Reduction Plan Ties Sustainable Transportation to State Funding
The state’s Greenhouse Gas Planning Standard uses tangible financial penalties to prioritize transportation projects that reduce emissions.
The Bicycle as Economic Lifeline
For many low-income households, bikes offer an affordable way to access more destinations and economic opportunities.
Lyft Shifting to Docked E-Scooters
After failing to deliver on promises of frictionless, free shared mobility, the operator will begin docking its scooters at stations to reduce sidewalk obstructions and eliminate the need to collect scooters for recharging.
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This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
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Learn the tools for implementing Universal Design in planning regulations.
