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Housing Markets

First-timers show signs of life

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Since unexpectedly shrinking from a 40 percent to 30-percent share of home sales three years ago, the lowest level since 1987, first-time buyers have baffled the experts and raised questions about why Millennials are becoming homeowners at a slower rate than previous generations. This spring, as the clock ticks down on record low-interest rates and incomes slowly improve, first-timers are ... Read More »

Economists say Shortages, not Economic Growth, are Driving Home Prices

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  Tight inventories of homes for sale rather than economic factors, like rising income levels  or low interest rates, are driving higher than expected increases in home prices.  Yet recent low interest rates are not creating an unsustainable increase in home values, concluded the more than 100 housing economists and experts participating in the latest quarterly Zillow Home Price Expectations ... Read More »

Chinese Residential Purchases Soar

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Chinese nationals are the biggest foreign buyers of American homes, purchasing homes valued at $93 billion in the past five years, including $28.6 billion in 2015 alone according a new report released today by Asia Society and the Rosen Consulting Group. Chinese buyers spent at least $93 billion on residential real estate between 2010 and 2015. Spending rose at an ... Read More »

Sellers Scale New Heights

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In March, sellers sold their homes for the highest average gain in price since December, 2007, the eve of the housing crash, according to a new report from RealtyTrac. This new peak is one of the most convincing achievements to date demonstrating how the housing recovery has turned around the fortunes of homeowners who suffered through nearly a decade of ... Read More »

Investors are Back Despite Higher Acquisition Costs

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Last year investor purchases rose for the first time in four years despite soaring prices paid by investors to acquire properties for flipping or converting into single family rentals. Investment-home sales in 2015 jumped 7.0 percent to an estimated 1.09 million from 1.02 million in 2014. The median investment-home sales price was $143,500, up 15.3 percent from $124,500 a year ... Read More »

HUD: FHA Sellers and Landlords Can’t Discriminate Against Criminals

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The Department of Housing and Urban Development, or HUD, released guidance on Monday for landlords and sellers on consideration of criminal records in housing, making it clear that blanket bans on renting or selling to anyone with a criminal record constitute illegal discrimination in violation of the Fair Housing Act. Instead, housing providers must have a policy that looks at ... Read More »

Tear Downs Are on a Tear

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Soaring home prices, shrinking inventories of homes for sale and a dearth of available lots for new home construction, especially in urban and close-in suburban locations, are creating a bull market for tear downs across the nation. Approximately 7.7% of single-family home starts in 2015 were attributable to tear-down related construction, according to the latest estimates from National Association of ... Read More »

Lower Priced Homes lag in equity and sales growth

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Equity growth among lower priced homes is falling behind more expensive segments as sales performance for more affordable homes declined on a quarterly basis. Black Knight reported today that though negative equity rates continue to improve on the national level, the recovery is decidedly imbalanced regarding both home price levels and geography.  Borrowers whose homes are in the lowest tier ... Read More »

Redfin: Shortages are Killing Demand

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It’s no secret that chronicle inventory shortages are curtailing home sales.  Now Redfin reports evidence that buyers are getting the message and buyers are staying away. The Redfin Housing Demand Index fell 5.5 percent to 97 in February from a year earlier, marking the third consecutive month of year-over-year declines in demand. The drop in demand was a result of ... Read More »

Boomerang Buyers are Back Big Time

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Nearly half of all homeowners who lost their homes to foreclosure during the housing bust own their own homes again and most have a mortgage. just nine years after home prices bottomed in 2007. A new report from the Urban Institute that compares credit profiles of renters and owners found nine million (7.1 percent) of all adult consumers with a ... Read More »

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