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Forecasts

Apartment Rents Soar Even HIgher

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Annualized effective rent growth rose to 4.7 percent in November, the biggest increase of the year and the highest since August 2011 when the rate measured 5.0 percent. According to research from Axiometrics, November’s rent-growth rate was a 38-basis-point increase from the 4.3 percent recorded in October and the largest growth margin since the 39-bps increase from February-March 2011 (4.6 percent ... Read More »

Rents Rise, Ownership Costs Fall, Part Deux

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The squeeze renters will feel over the next twelve months will not be pleasant, especially for lower income renters.  But those who can afford to buy in 2015 have multiple incentives to do so, beginning with their monthly rental bill. In a new piece of research on the dynamics of renting vs. buying, Zillow’s economists have update the numbers on ... Read More »

Are You Ready for the Next Boom?

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According to a new study from the New York Federal Reserve the best way to stimulate demand is to reduce down payments, a strategy that’s more effective than lowering interest rates–whicb is probably obvious to most street Realtors.  Now it can be proved scientifically. The Fed economists queried prospective buyers to determine their willingness to buy a home under different ... Read More »

Rents Will Rise Faster than Home Values

Real Rent Reform

Zillow predicts a big year for home buyers in 2015, with more millennials entering the market amid rising rents. Zillow’s annual housing predictions also identify the five best housing markets for first-time homebuyers this coming year. 2015 Predictions U.S. rents will outpace home values by the end of the year Builders will begin constructing more, less expensive homes Millennials will ... Read More »

Freddie Mac: Get Ready for 5% Rates in 2015

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    Rates on a thirty-year fixed rate mortgage will hit 5 percent by the end of next year, according to the latest forecast from Freddie Mac’s economists.  Expect to see interest rates climb throughout 2015, with yields on the 10-year Treasury averaging about 2.9 percentage points, up from about 2.6 percentage points in 2014, and rates on the 30-year ... Read More »

Auction.com’s “Nowcast” uses Market Data for Forecasts

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By combining industry data, proprietary company transactional data and publicly available Google Trends data, Auction.com has launched a new report called “Nowcast” to predict home sales as they are occurring. Findings from the first Auction.com Nowcast predict that existing home sales in October will fall between seasonally adjusted averages of 4.967 and 5.380 million annual sales, with a targeted prediction ... Read More »

Tight Credit Chokes Pending Sales

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Pending home sales rose slightly in September and are now above year-over-year levels for the first time in 11 months, according to the National Association of Realtors®.  But NAR’s monthly pending sales repot disappointed observers and underscored the problems facing the housing sector The pending home sales index increased 0.3% after dropping 1% in August, the National Association of Realtors ... Read More »

Wells Circles the Wagons

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Growing concern over the faltering housing recovery has inspired an unusual vote of confidence for housing’s fundamentals from two of Wells Fargo’s top economists. In a “special commentary” published in the bank’s web site, senior economists Mark Vitner and Anika R. Khan argue that too much progress has been made restoring growth to the overall economy for the recovery to ... Read More »

CoreLogic Stays Bullish

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While slack demand is causing others to slice their price forecasts for next six to 12 months, CoreLogic reports August prices are up 6.4 percent year-over-year and it predicts by next August, prices will rise an additional 5.2 percent. The CoreLogic HPI Forecast indicates that home prices, including distressed sales, are projected to increase 0.2 percent month over month from August ... Read More »

Fannie Sees Sunshine

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Fannie Mae’s monthly consumer survey found that most consumers surveyed believe prices will rise by 2.2 percent over the next year even though they are falling now and fewer than half think mortgage rates will go up in the next 12 months even though rates today are near historic lows. Moreover, in September, the share of consumers who say now ... Read More »