After steadily rising for four straight months, stubbornly low inventory levels and affordability pressures caused existing-home sales to falter in July. Just how bad is the current supply situation? Consider the fact that we were saying a year ago that inventory was too low. Now? Supply at the end of July is 5.8 percent lower… Continue Reading Behind July’s Existing-Home Sales Cooldown
The 2014 HMDA data provide interesting market insights. The FHA continues to shrink giving way to an expanding conventional market. The most dramatic change from a decade ago is the role of the Veterans Administration, Rural Housing Service (RHS), and the Farm Service Agency (FSA). These latter two programs are not well known, but have… Continue Reading Rural Housing Service: The Silent Surge
Stubbornly low inventory coupled with continued price increases led to a 3.2 percent decline nationwide. How did your region fare?Powered by WPeMatico
Fannie Mae and Freddie Mac said Wednesday the standardized form borrowers use to apply for a mortgage would be updated to make it easier on...Powered by WPeMatico
Both Donald Trump and Hillary Clinton would bring strong support for the real estate industry to the White House, NAR...Powered by WPeMatico
Low mortgage rates, improving income growth, and steady job creation have helped propel purchases of new homes.Powered by WPeMatico
Increased confidence may give future inventory a shot in the arm, according to a new survey from Berkshire Hathaway HomeServices.Powered by WPeMatico
WASHINGTON (August 24, 2016) — Slowed by frustratingly low inventory levels in many parts of the country, existing-home sales lost momentum in July and decreased year-over-year for the first time since November 2015, according to the National Association of Realtors®. Only the West region saw a monthly increase in closings in July. Total existing-home… Continue Reading Existing-Home Sales Lose Steam in July
When Elizabeth Mendenhall, 2017 president-elect of the National Association of REALTORS®, visited YPN’s Leadership Retreat today, she didn’t go easy on them. In fact, she told them they needed to step up to leadership positions beyond their young pro networks and become wonks. Now, Mendenhall didn’t always see the path to leadership in this way.… Continue Reading Mendenhall to YPN: Time to Get Nerdy
While the market seems to have made steady progress adjusting to the TILA/RESPA Integrated Disclosure (TRID) rules and TRID-induced delays,[1] a new contract-delaying culprit may be re-surfacing. In addition to flashing yellow lights on affordability as home prices continue to rise faster than incomes, the housing market may be facing another hurdle stemming from appraisals.… Continue Reading Concern about Fast-Rising Prices, or Overworked Appraisers?