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[Solid Masonry] If Anyone Is Keeping Score, The Home Team Is Hanging In There

John Philip Mason is a residential appraiser with 20 years experience and covers the Hudson Valley region of New York. He’s a good friend and a true professional who provides unique insight to appraisal issues of the day. Here is his weekly post called Solid Masonry. This week, appraiser John Mason ponders the housing market strengths and weaknesses in Technicolor. Jonathan Miller

I was thinking about the various factors that drive the housing market and wondered how these might compare to a year ago. So I formed a partial list of some likely factors to impact home prices, along with my assessment of how they compare to a year ago. This is by no means all inclusive, as there are too many factors to consider them all. I also didn’t put them in any particular order, as their priority varies from one time period to another. As an example, in a strong market would-be-buyers are less deterred by rising mortgage rates than would be true in a stagnant or declining market. All that (disclaimer stuff) being said, here is the list, along with my assessments:

Red = Less Favorable Black = Neutral Green = More Favorable

No doubt there can be a significant lag between these factors and how they impact the housing market, but most of these trends are well over a year old. Considering how many of these factors have trended unfavorably (red), the housing market is more resilient than some might expect. So if anyone is keeping score, the “home” team is hanging in there.