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US pending home sales down in December, inventory sinks
United States pending home sales fell by 9.3% in December amid a slump in inventory, according to the National Association of Realtors (NAR). Pending sales dropped across all regions during the month, and were also down 3.3% year-over-year. “The housing sector is not out of the woods yet,” said NAR chief economist Lawrence Yun. “After several months of encouraging signs in pending contracts and closed sales, the December new contract figures have dampened the short-term outlook.” “Even after accounting for typical seasonal patterns, interpreting in-person home search activity in the winter — especially in December — can be tricky due to public holidays, people taking time off, and wintry weather conditions,” said Yun. “We’ll be watching the data in the coming months to determine whether the soft contract signings were a one-month aberration or the start of an underlying trend.” Inventory levels in December were at 1.18 million homes, falling 9% from November to equal 2025’s lowest levels. While closing activity rose during the month, new listings slumped. “Consumers prefer seeing abundant inventory before making the major decision of purchasing a home. So, the decline in pending home sales could be a result of dampe
Housing
Trump plan to allow 401(k) for house down payments
White House economic advisor Kevin Hassett said the Trump administration plans to allow investors to use retirement funds to make a down payment on a house. This is part of the administration's plan to make housing more affordable for the average family. “We're going to allow people to take money out of their 401(k)s and use that for a down payment,” he told Fox News. Hassett also said that President Donald Trump is set to put the “final plan out in Davos next week”. In his interview with Fox News, Hassett also downplayed concerns that tapping into the 401(k) will hurt savers later in retirement. “We're still talking about the mechanics of it, but suppose that you put 10% down on a home, and then you take 10% of the equity of the home, and put it in as an asset in your 401(k), then your 401(k) will grow over time," he said. "As the value of your house grows, you'll be healthy and have more money for retirement.” Typically, Americans cannot withdraw funds from a 401(k) for a first-time home purchase without paying a penalty. The move represents a part of the Republicans' push to increase housing affordability. Recently, Trump directed representatives to buy US$200 billion in mortgage bonds in a bid to dri
Housing
U.S. housing market expected to steady in 2026
The U.S. housing market is set to become steadier in 2026 with realtor.com predicting interest rate relief and greater negotiating power for buyers. The real estate site predicts the average mortgage rate will be 6.3%, which is in line with Redfin's predictions and above Fannie Mae’s expectations of 5.9% Realtor also forecasts that U.S. home prices will rise 2.2% and home affordability will improve as incomes outpace inflation, pushing the typical payment share of income below 30% for the first time since 2022. In comparison, Redfin expects prices to increase by 1%, Zillow expects a 1.2% rise and Fannie Mae expects a 1.3 % jump However, inflation is expected to outpace these gains, with consumer prices likely growing more than 3%, meaning real (inflation-adjusted) home prices will decline slightly for a second consecutive year. Some U.S. cities will also see a higher rise than others, particularly in the Midwest and Northeast, due to lower supply pushing prices up, according to Realtor. Toledo, Ohio, is predicted to have the highest growth of 13.1%; however, its median home price of US$199,990 remains lower than Ohio’s state-wide median of US$275,00, according to Realtor’s data. This follows a trend of the maj
Housing
US existing home sales rise by 0.8% in November
Existing home sales in the United States rose by 0.5% in November, according to the National Association of Realtors' Existing-Home Sales Report. There were month-over-month increases in the Northeast and South, while the West stayed the same, and decreases in the Midwest. Year-over-year sales showed no change in the Northeast and South, and decreased in the Midwest and West. According to the NAR Chief Economist Lawrence Yun, this was the third straight month of existing home sales increases, due to low mortgage rates during autumn. Despite this, inventory growth is beginning to stall. “With distressed property sales at historic lows and housing wealth at an all-time high, homeowners are in no rush to list their properties during the winter months,” he said. Yun added that while wage growth outpacing price growth improves house affordability, this could still be hampered if housing supply fails to keep pace with demand. During November, housing inventory fell 5.9% in October but grew 7.5% from the same time last year. He said single-family home sales have outperformed condominium sales in November, continuing an ongoing trend. “The typical price of a sold condo was 13.5% lower than the typical price of a si
Housing
US homebuilder sentiment up; construction costs weigh
United States homebuilder sentiment rose in December, but remains in the negative amid high construction costs and economic uncertainty. Builder confidence is up one point to 39 this month per the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index. This is its highest point since April, though it has been below the breakeven level of 50 throughout 2025. “Market conditions remain challenging with two-thirds of builders reporting they are offering incentives to move buyers off the fence,” said NAHB chair Buddy Hughes. “Meanwhile, builders are contending with rising material and labour prices, as tariffs are having serious repercussions on construction costs.” The U.S.’ 10% tariffs on lumber took effect in October, along with 25% tariffs on some wooden household products like bathroom vanities. It has also imposed tariffs on steel and aluminium. NAHB’s current sales conditions index grew by one point to 42, while the future sales index was up one point to 52. The Northeast’s Housing Market Index dropped one point but remained highest at 47. The Midwest gained two points to 43, the South grew two points to 36, and the West was up four points to 34. According to NAHB’s survey, 40% of buil

Housing
Cotality: National housing market defies expectations
Australia’s housing market defied expectations in the face of intense affordability and cost-of-living pressures to deliver an above-average growth rate of 7.7% year-over-year. According to Cotality’s Best of the Best report, National Dwellings are set to close 2025 at least 8% higher. Cotality head of research, Eliza Owen, said this highlights how quickly conditions shifted after “considerable pressure” at the start of the year. “Affordability had hit a series high, serviceability was stretched and price growth had flattened out,” Owen said. “What followed was an unexpectedly strong rebound as interest rate cuts, easing inflation and limited supply reignited competition.” After three rate cuts, an expansion of the 5% Home Guarantee Deposit Scheme and persistently low listing volumes helped drive recovery, the housing market recorded three consecutive months of growth of at least 1% by November, reaching a record high of A$12 trillion. Owen said the turnaround was most visible across lower-value markets and regions where buyers were able to respond quickly to more favourable credit conditions. “Tight supply meant even modest demand created upward pressure on prices. Cheaper markets had the most acceleration be
Housing
Australian home values grow 1% in November
Australian home values increased by 1.0% in November, though Melbourne and Sydney’s growth lagged other capital cities. This is a slight decline from October's 1.1% growth, according to Cotality’s Home Value Index report. Melbourne values were up 0.3% and Sydney values rose by 0.5%, while all other capitals saw growth of at least 1%. “The skew towards the mid-sized capitals is especially evident in Perth, where listings are holding more than 40% below average, buyer demand is elevated, and the 2.4% monthly rise in dwelling values has added just over $21,000 to the median in November, roughly $5,000/week,” said Cotality research director Tim Lawless. Sydney and Brisbane had the highest median housing values of any capital city, at A$1.27 million and $1.02 million, respectively. Brisbane, Adelaide, and Darwin saw the second-highest monthly value growth after Perth, all at 1.9% in November. Regional housing values increased by 1.1% in November, and the median housing value across nationwide regional areas was $723,107. Regional Western Australia led gains at 1.7%, while regional Victoria’s growth was the lowest at 0.8%. Housing unaffordability has remained high, which could weigh on housing value growth, according t
Housing
Housing affordability reaches record low: Cotality
Housing affordability in Australia has never been worse, with home prices rising nearly 50% since 2020. According to a new report by Cotality, it would now take a decade to save a standard 20% deposit for a house in most capital cities. Since the pandemic, Cotality head of research Eliza Owen said around A$280,000 was added to the median dwelling value. “This surge was fuelled by pandemic-era monetary stimulus and record-low interest rates that supercharged borrowing capacity and demand, even as housing supply lagged well behind household formation,” she said. “The past five years combined extraordinary demand drivers with supply constraints, creating an extraordinary boom in both home values and rents.” The report found that the average household needs to save around 45% of its income to service a new mortgage. Sydney remains the most expensive and unaffordable city where the average household needs to dedicate 68% of their income to paying off the average mortgage of a house and 39% of their before-tax pay for a mortgage on a unit. Conditions have severely deteriorated across Adelaide, Brisbane and Perth. Canberra, Hobart and Melbourne have been bright spots with mild improvements in affordability, but mo
Housing
US homebuilder confidence up one point in November
United States homebuilder confidence rose by just one point in November amid the government shutdown and a weak labour market. Builders’ confidence in the market for new single-family homes increased by one point to 38, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index. The index has been below 40 since May. “While lower mortgage rates are a positive development for affordability conditions, many buyers remain hesitant because of the recent record-long government shutdown and concerns over job security and inflation,” said NAHB chairman Buddy Hughes. “More builders are using incentives to get deals closed, including lowering prices, but many potential buyers still remain on the fence.” “We continue to see demand-side weakness as a softening labor market and stretched consumer finances are contributing to a difficult sales environment,” said NAHB chief economist Robert Dietz. The current sales conditions index rose by two points to 41, but sales expectations for the next six months dropped by three points to 51. Traffic of prospective buyers Around 41% of builders reported cutting prices in November, a record high in the post-pandemic period. The average price reduction re