Jun 25
New-Home Sales Climb to 7-Year High New-home sales surged to the highest rate since February 2008, as the new-construction market continues to gain ground this year. Sales of newly built single-family homes increased 2.2 percent, reaching a seasonally adjusted annual rate of 546,000 units in May, according to a report from the Commerce Department. “Our builders …
Jun 24
Metros with Fastest-Growing Economies Florida is emerging as the new leader for economic growth, fueled by baby boomers and retirement communities. Oil towns had dominated in recent years but as the energy boom fades, growth has been tapering off. Instead, Naples, Fla., emerged as the leader on a list of metro areas that …
Jun 23
First-Time Buyers Fuel Latest Sales Boost Existing-home sales rose in May to their highest pace in nearly six years, largely attributed to a big rise in the number of first-time home buyers, according to the National Association of REALTORS®’ latest housing report, released Monday. All major regions saw sales increases in May, with the …
Jun 22
Apartment Occupancies Soar to Record High Apartments are filling up nationwide. The national occupancy rate in May reached 95.3 percent, the highest ever, reports Axiometrics, a real estate analytics firm. “The May rate historically is the start of each year’s occupancy peak, meaning occupancy should remain at the current level or higher,” says Stephanie …
Jun 19
Lenders Feel More Upbeat About Housing Mortgage lenders are growing increasingly optimistic that demand for mortgages for home purchases will remain strong over the next three months. Fannie Mae’s second quarter 2015 Mortgage Lender Sentiment Survey showed more lenders are reporting credit loosening and there’s a strong demand from borrowers for home purchase loans. The …
Jun 18
A Big Pick Up in Home building Is Coming. Permits for future home construction climbed to a near eight-year high in May, which sets the stage for greater inventories from home builders in the months ahead. Building permits surged 11.8 percent to a seasonally adjusted annual pace of 1.28 million units, the highest since August …
Jun 17
Commercial Agents See Higher Incomes, Sales As the commercial market shows signs of improving, commercial real estate professionals are reporting an uptick in annual gross income as well as the number of sales transactions and their sales volume, according to the 2015 National Association of REALTORS® Commercial Member Profile, which is based on a survey …
Jun 16
Higher Home Prices Push Affordability Down Housing affordability is down from a year ago as higher prices continue to outpace incomes, according to the National Association of REALTORS® Economists’ Outlook blog. Nationally, the median single-family home price is $221,000, up 10 percent from April 2014, NAR reports. The Midwest has seen some of the largest …
Jun 15
Renter Growth to Explode by 2030 The renter population is expected to only get bigger in the next 15 years and will likely exceed new home owners by millions, according to a newly released report by the Urban Institute, “Headship and Home ownership: What Does the Future Hold?” Between 2010 and 2030 – the year …
Jun 10
The Most Common Delays Toward Closing The majority of contracts – 64 percent — are settled on time with no delays to closing, but some REALTORS® acknowledge facing delays or even having contracts terminated for numerous reasons, according to the latest REALTORS® Confidence Index Survey, a survey of more than 1,500 REALTORS®. Twenty-six …
Jun 09
Many Retirees Still Struggling with Mortgages The number of seniors still making house payments into retirement has grown following the recession. “It’s a big problem coming off the housing bubble,” says Cary Sternberg, an adviser to seniors on housing issues in a Florida retirement community called The Villages. “A growing number of seniors are …
Jun 08
What Worries Would-Be Buyers With interest rates threatening to rise in the near future and pent-up demand at high levels in many parts of the country, buyers might feel ready to make a move. But a pair of surveys released this week reveal that many of them aren’t. One survey from TransUnion, a Chicago-based credit …
