05-17-2019 GOOD GAINS? There’s good news for homeowners and potential home buyers according to the latest Existing Home Sales data released by the National Association of Realtors (NAR). The median sales price nationwide was up 3.8% year-over-year in March with more homes for sale. There was 3.9 months’ worth of inventory on the market in […]
05-10-2019 UP AGAIN Home prices were up 3.7% year-over-year in March according to the latest CoreLogic Home Price Insights (HPI). Prices were up 1% month-over-month between February and March, but the HPI forecast predicts a significant escalation in the coming year, indicating that home prices will increase by 4.8% on a year-over-year basis from March […]
04-19-2019 SURGING SENTIMENT The Home Purchase Sentiment Index (HPSI) reached its highest point since June 2018 last month. Fannie Mae’s March HPSI showed a 5.5 point increase over February; 56% of survey respondents said it’s a good time to buy a home and 66% said it’s a good time to sell. ANOTHER ADJUSTMENT Interest rates […]
04-05-2019 5 IN FEB New home sales jumped nearly five-percent in February from the previous month according to data from the U.S. Department of Housing and Urban Development and the Census Bureau. February’s 4.9% increase was also up .06% year-over-year. The median sales price for new homes reached $315,300 and the average sales price was […]
03-15-2019 HOUSING HEALTH Serious mortgage delinquency rates declined in every state but North Dakota last year according to CoreLogic’s Loan Performance Insights through December 2018. CoreLogic’s Chief Economist Frank Nothaft said, “Our latest home equity report found that the average homeowner saw a $9,700 increase in their equity during 2018. Rising equity reduces the chances […]
03-08-2019 FIRST-TIME FORCE First-timers are driving the market according to Genworth Mortgage Insurance’s 2019 First-Time Home Buyer Market Report. Genworth Chief Economist and report author Tian Liu summarized his findings this way: “…growth in the first-time homebuyer market has accounted for virtually all of the growth in home sales and accounted for 65 percent of […]
02-22-2019 INCREMENTAL INCREASESThe housing market is changing according to Zillow Senior Economist Aaron Terrazas, who says, “The number of homes on the market is hesitantly inching higher–now approaching the highest level in a year and a half. The first quarter of 2019 is shaping up to be more competitive than the lull we saw as […]
02-08-2019 DOWN DECEMBERPending home sales dropped 2.2% in December according to the National Association of Realtors’ (NAR) Pending Home Sales Index (PHSI). The drop is due to several factors according to NAR Chief Economist Lawrence Yun who said, “The stock market correction hurt consumer confidence, record high home prices cut into affordability and mortgage rates […]
01-25-2019 DOWN DECEMBER Existing home sales fell 6.4% between November and December and 10.3% year-over-year according to the latest National Association of Realtors’ (NAR) Confidence Index. NAR Chief Economist Lawrence Yun cited interest rate activity as the cause. “The housing market is obviously very sensitive to mortgage rates,” he said. “Softer sales in December reflected […]
01-18-2019 HOARDING HOMES The housing inventory crunch is largely due to a spike in the amount of time Americans are staying in their homes. Based on a joint analysis of indicators with Moody’s Analytics, First American Chief Economist Mark Fleming said, “…today, we are in a near unprecedented homebody era, as increasing mortgage rates, low […]
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