The inventory of homes for sale continues to shrink. There were 2.02 million homes listed for sale at the end of October, representing only 4.3 months’ supply. A balanced market would be closer to 6-to-7 months’ supply. From a year ago, the raw inventory count was down 4%, which marked nearly two straight years of… Continue Reading Housing Shortage for How Long?
NAR Research began tracking closing delays following the implementation of the TRID or Know Before You Owe rules. These rules changed the settlement process adding new closing documents, tolerances for fees, and timelines. The time-to-close a loan, the period from contract to settlement, fell 0.3 days in November relative to the same time in 2015,… Continue Reading Closing Delays Rise Unexpectedly
For those who haven’t heard, the Mannequin Challenge, an online video challenge where people freeze in place to enact a still scene while someone takes a video of it, went viral in the last couple of months. The challenge, which started with teens capturing moments of adolescent life, has grown in popularity among people of… Continue Reading REALTORS® Get In On the Mannequin Challenge
Student debt has grown significantly in recent years and with it concern over the impacts on first-time homebuyers. However, limited to no attention has been paid to the connection between student debt and constrained supply. A significant share of owners with student debt report that their student debt has or will delay their trade-up purchase.… Continue Reading Student Loan Debt and Inventory
Every month NAR produces existing home sales, median sales prices and inventory figures. The reporting of this data is always based on homes sold the previous month and the data is explained in comparison to the same month a year ago. We also provide a perspective of the market relative to last month, adjusting for… Continue Reading October 2016 EHS Over Ten Years
In the monthly REALTORS® Confidence Index Survey, the National Association of REALTORS® asks members the characteristics of the most recent sale that closed in the reference month, including “Did the buyer purchase the property as an investment property?” Investment sales made up 13 percent of sales in October 2016 (14 percent in September 2016; 13… Continue Reading Sales for Investment Purpose: 13 Percent of Residential Sales in October 2016
At the national level, housing affordability is up from a year ago for the fourth consecutive month. Mortgage rates dipped and stood at 3.76 this October but they are already higher for current home shoppers. Housing affordability increased from a year ago in October moving the index up 0.5 percent from 169.4 to 170.2. The… Continue Reading October 2016 Housing Affordability Index
#FlytheW, ceramics, offices, VR, agriculture, dessert, Pantone, bedding, and technology. Just a holiday reminder that the Cubs won the World Series. Nope. It’s cold in our office, but no where near as cold as the recommended office temp in the UK! Joe deSousa/flickr/2015 How does Facebook top the list of tech companies to work? Its… Continue Reading What We’re Reading: December 5-9
By Melissa Dittmann Tracey, REALTOR® Magazine Adding nature, via plants, has always been a popular way to help spruce up a home for sale. But Pantone’s 2017 choice for Color of the Year wants you using the color of nature in a bolder way in the new year. Pantone named Greenery its 2017 Color of… Continue Reading Pantone’s Nature-Inspired Pick for 2017 Color of the Year
WASHINGTON (December 6, 2016) — The homeownership rate in America continues to hover around a 50-year low, but experts gathered for an event in the Washington, D.C. offices of the National Association of Realtors® said today that there are real-world opportunities to turn that trend around. “It’s tough out there right now for buyers, especially… Continue Reading Challenges and Opportunities for Homeownership Take Center Stage at National Association of Realtors®, S&P Global Joint Event