Tuesday , 30 June 2015
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Recovery Signals

Some 5.7 Million Crash Victims Still Feel the Pain

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Though about five million families lost their homes to foreclosure from 2009 to 20013, some seven million consumers’credit was negatively impacted by the housing crash.  Today, only 1.2 million, or 18 percent, have completely recovered.  But over the next five years some 2.2 million of the remaining 5.7 million unrecovered consumers could meet agency underwriting guidelines, according to a report from ... Read More »

Millennials are Rays of Sunshine amid Clouds of Pessimism

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Remarkably negative findings from the 2015 How Housing Matters survey released this week by the MacArthur Foundation were punctuated by two critically important findings.  Attitudes on the value of housing as an excellent long term investment have flip-flopped and Millennials put a higher priority on the dream of homeownership than their elders. Though the survey found that  most Americans believe ... Read More »

Nascent Demand, Tight Inventories Supercharge April Prices

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  Prices took an unexpectedly big leap upward in April as rising demand collided with tight supplies to propel sale prices. With headlines like The Re-Explosion of U.S. House Prices Is Over, most forecasts in January had prices rising 4-5 percent over 2014.  Only the CoreLogic and NAR were on the sunny side, predicting 5/9 and 6 percent respectively. Only ... Read More »

Freddie Forecasts Higher Prices, Volatile Rates

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  Freddie Mac’s economists expect the balance of the year to be a hectic one as housing markets are likely to see increasing interest rate volatility for the remainder of the year and consumers try to anticipate the Federal Reserve’s timing around rising short term interest rates.  Home buyers may encounter “bouts of affordability shock” if rates rise suddenly. With ... Read More »

Take a Closer Look at the Spring Boomlet: It’s a Remarkable Start

Take a look

It’s official.  Early signs and forecasts of an extraordinary sales season are proving to be true.  NAR’s March existing home sales rocketed to their highest annual rate in 18 months. Total March sales increased 6.1 percent to a seasonally adjusted annual rate of 5.19 million in March from 4.89 million in February—the highest annual rate since September 2013 (also 5.19 ... Read More »

Freddie Mac: Best Sales Season Since the Boom

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Freddie Mac’s economists look for home sales this year to be the best since 2007 with mortgage rates low, purchase applications up and pending home sales on a positive upward trend, even though first quarter results were less than sterling. As a result, the GSE lowered its forecast for economic growth for 2015 from 2.8 to 2.6 percent and the ... Read More »

Figuring Out Florida

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From the dawn of the housing crash in 2006, Florida’s real estate economy has stood out from the rest of the nation, sometimes acting as a bellwether of things to come, like the explosion of small investors and foreign investors who put a floor under plunging values in 2009 and 2010. At other times, Florida has been a throwback to ... Read More »

Rents go Stratospheric in First Quarter

blastoff

Annual effective rent growth for apartments was the highest it has been in 3-1/2 years in the first quarter of 2015, according to early release numbers from Axiometrics. Annual effective rent growth of 4.9% during the first quarter of 2015 represented a 21-basis-point (bps) increase over the 4.7% recorded in the fourth quarter of 2014. The figure is the highest since ... Read More »

Zillow Index Shows Access to Credit Halfway to Recovery

Young couple paying bills

Mortgage credit availability as measured by Zillow’s Mortgage Access Index  has risen steadily over the past two years to surpass a halfway point between the depths of 2011 and the peak of the boom in August 2004. The new metric (ZMAI) combines seven sources of data: credit score data, debt to income ratios, PMI availability, quotes on Zillow’s mortgage platform, ... Read More »

Is it Cold Feet or Just the Weather?

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With the opening of the 2015 home selling season just a few weeks away, are sellers showing signs of getting cold feet?  Do many plan to sit out 2015 or are they just moving slowly because their toes are still numb from the latest winter wallop and all will be well with the first daffodils? Fannie Mae’s monthly National Housing ... Read More »

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