May 19
Buyers Face Barriers in HOA Neighborhoods Home buyers may soon face more stringent underwriting standards and even higher interest rates when applying for a mortgage to purchase a home that falls within a homeowner association, the lending industry warns. The threat comes from mortgage industry officials who are warning areas with state laws that …
May 18
Multifamily Boom Can’t Last Forever At a forum on economic trends in commercial real estate at the 2015 REALTORS® Legislative Meetings & Expo, two prominent housing economists explained why investors should be wary about unbridled optimism about the apartment market. Sam Chandan—author, professor, and founder of Chandan Economics—said that, just in the way that …
May 14
12 Markets with the Highest Mortgage Demand Nearly 1.6 million of loans were originated on single-family homes and condos in the first quarter, up 17 percent from a year ago, according to RealtyTrac’s the first quarter 2015 U.S. Residential Loan Origination Report. Of those nearly 1.6 million loan originations, almost 472,000 were purchase …
May 13
Housing’s Under supply Raises Concerns About 1.5 million new housing units are needed each year to accommodate the rising population, writes Lawrence Yun, the chief economist of the National Association of REALTORS® at the Economists’ Outlook blog. Yet, housing starts have averaged about 766,000 per year for the past seven years. “These multiple years of …
May 12
Cash Sales Are Weakening The number of real estate transactions involving all-cash is slipping, according to the March 2015 REALTORS® Confidence Index Survey. Cash sales accounted for 24 percent of total existing home sales in March, down considerably from 33 percent one year ago. The drop in cash sales is mostly related to a drop in …
May 11
Home Ownership Linked to Happiness Home ownership can lead to higher levels of well-being, according to data from the OECD Better Life Index, which gauges the quality of life worldwide by factoring in such things like housing, jobs, civic engagement, health and safety. The heightened sense of happiness that comes from home ownership may …
May 08
Housing Flips Slip to Lowest Level in Years Four percent of all U.S. single-family home sales in the first quarter were flips, sold for a second time within a 12-month period, according to RealtyTrac’s first quarter 2015 U.S. Home Flipping Report. It marked the lowest number of homes flipped since the second quarter of …
May 07
Sharp Rise in Rates Doesn’t Deter Buyers Mortgage applications for home purchases – viewed as a gauge of future home buying activity – posted only a slight gain at 1 percent last week, but applications are at the highest level since June 2013, the Mortgage Bankers Association reports. In a broader look, mortgage applications for …
May 06
Your Home’s History If you want to learn the historical journey of a home, get details about its architecture, or find out how the dynamics of the neighborhood have changed throughout the years, there are many resources available. But where to start? Where to Start To begin the journey, Jessica Leigh Hester from CityLab …
May 05
Renters Are in Financial Trouble More than one in four renters use at least half of their household income to cover housing and utility costs, according to a new analysis of Census data by Enterprise Community Partners. The number of renters who are constrained financially from growing household expenses has surged 26 percent since …
May 04
15 Hottest Housing Markets Right Now The housing market has been gaining strength this spring, according to realtor.com®’s latest housing report. Median list prices rose to $225,000 in April – up 9 percent year-over-year. As prices rise, homes are staying on the market for less time too. The median number of days on the market …
May 01
Why New-Home Prices Are Surging New-home prices have risen much higher than they should when comparing homes built in 1970 to those built today with similar characteristics, according to a new analysis by economist Tom Lawler. New homes last year sold for an average of $343,000 — more than double what they sold …
