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 […]
01-11-2019 SELLING SEASON The December 2018 Fannie Mae Home Purchase Sentiment Index® (HPSI) shows an array of opinions. Fannie Mae Senior Vice President and Chief Economist Doug Duncan said, “Consumer attitudes regarding whether it’s a good time to buy a home worsened significantly in the last month, as well as from a year ago, to […]
01-04-2019 SEASONAL SLOWDOWN? The ramp up to the holiday season marked a slowdown in home sales according to the latest Pending Home Sales Index (PHSI) from the National Association of Realtors (NAR). NAR Chief Economist Lawrence Yun says November’s 7.7% year-over-year decline “…does not yet capture the impact of recent favorable conditions of mortgage rates.” […]
12-21-2018 EQUITY ESCALATES Homeowner equity reached $15.2 trillion in the second quarter this year according to the U.S. Federal Reserve. The new high is approximately 13% higher than the previous peak of $13.4 trillion in 2006. The Mortgage Bankers Association credits home price growth, a healthy job market, contextually low interest rates and efforts by […]
12-14-2018 SLIGHTLY SLOWER Homes are staying on the market a tad longer according to the National Association of Realtors (NAR). NAR’s Realtor Confidence Index Survey shows that listings were on the market for an average of 33 days in October, up from 29 days the previous month. Responding Realtors® cited “interest rate” and “low inventory” […]
12-7-2018 UP AGAIN Home appreciation is up again, gaining 5.4% year-over-year in October according to the latest CoreLogic Home Price Insights (HPI). Prices were also up .5% month-over-month, but CoreLogic forecasts the November numbers will show negative gains. Despite higher mortgage rates and declining affordability, CoreLogic Chief Economist Frank Nothaft says, “Many renters view a home purchase […]
11-30-2018 ABOVE & BELOW The latest Real House Price Index (RHPI) from First American Financial Corporation shows some interesting ups and downs. Though home prices are up 15.3% year-over-year from August 2018, First American says U.S. home prices average 37% below the 2006 pre-recession peak. First American Chief Economist Mark Fleming puts the numbers in perspective, saying, “Without stronger […]
FIVE WAYS TO SOOTHE SEASONAL STRESSORS For many of us, winter means plummeting temps and navigating ice and sleet on the daily commute. But even if frozen roads and falling snow aren’t part of your picture, this time of year still has its own set of unique (and often stressful) challenges. Try these tips to […]
Sales sputtered, rate reprise & great gainsFebruary 8, 2019 - 12:44 pmHobbling home sales, market measures & date rating?January 25, 2019 - 9:02 amHomebodies, financial flashback & marital moneyJanuary 23, 2019 - 9:39 amAttitude, equity, income & world wealthJanuary 11, 2019 - 10:41 amSluggish sales, retro rates & moving mischiefJanuary 9, 2019 - 8:21 am