Monday , 24 October 2016
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Housing Markets

Americans Move Less and Impact the Economy


The median tenure homeowners plan to stay in their homes soared with the housing recession in 2008 for good reasons. Millions of owners were underwater and millions more lacked the 20 percent equity need to sell their home.  Many facing the need to move for job or space reasons found it easier to move and keep their old home to ... Read More »

Rents Cooled in the Third Quarter


Record levels of new multi-family construction are meeting demand in the nation’s hottest market, cutting in half the pace of rent increases nationwide and driving down median rents in more markets during the third quarter, according to rental analytics firm Axiometrics. Nationally, rents rose only 3% for the third quarter of 2016, more than 2 percentage points below the robust ... Read More »

Summer Ends with Crippling Inventory Shortages


August brought even worse news for first-time and move-up buyer as chronic inventory shortages grow even, inflating home prices even more.  A double whammy of unaffordable prices and shrinking selections of homes for sale continue to handcuff the housing recovery. “Hopes of a meaningful sales breakthrough as a result of this summer’s historically low mortgage rates failed to materialize because ... Read More »

Mortgage Approvals Soar 51% in Four Years


As lending standards have loosened over the past four years, closing rates have steadily improved and in August, approvals rates for all mortgages were more than 50 percent higher than they were in August 2012, according to the latest Origination Insights report from Ellie Mae. Closing rates increased from less than half of applications—47.8 percent in 2014—to 72.3 percent of ... Read More »

Freddie Raises Price Forecast, Fannie Turns Bearish on Sales


Like the blind men with different interpretations of the same elephant, September forecasts by economists at the nation’s largest housing GSEs emphasize differing outcomes from the same forces shaping the nation’s housing economy. After July’s disappointing existing sales report, which NAR’s Lawrence Yun attributed in part to chronically low inventories, Fannie Mae lowered its existing sales forecast for 2016 from ... Read More »

Five Reasons Rentals are Winning the War for the Millennials


The national homeownership rate has just fallen to its lowest level since June 1965, the month that the Rolling Stones released “I Can’t Get No Satisfaction” and Peter Sellers and Romy Schneider starred in “What’s New Pussycat”.  Only 62.9 percent of families now own the homes in which they live.[1] “They’ said homeownership wouldn’t get any lower because the largest ... Read More »

Mortgage Insurance Soared in Second Quarter

Young couple paying bills

  Mortgage insurance activity, including insurance written by government programs like the FHA and VA as well as and private insurers, rose significantly to $189 billion, up from last quarter’s $140.2 billion and up 11 percent over 2015.  Though FHA’s market share fell to 34 percent in 2016 Q2 (from 41 percent the previous quarter), the private insurance market’s share ... Read More »

Low Appraisals are BAAAAACK


  Three things you can take to the bank: Politicians will bend with the wind, Property taxes will never decline, and Rising home prices will increase low appraisals. It’s no surprise that complaints that appraisals are once again killing too many sales are once again on the rise this summer.  Through June, home prices nationwide, including distressed sales, increased year ... Read More »

Stormy Weather Hits Home Sales


Is it just the end of the buying season or are home sales hitting a wall? A growing consensus of economists foresees a flattening in sales growth—or even year-over-year declines in the months to come–for the balance of the year and even into next year.  Sales may have reached a ceiling for the season. A combination of rising prices, slow ... Read More »

Retirees Still Still Struggle with Mortgage Payments


A new Freddie Mac study of older Americans over 55 finds that more than a third still have a mortgage—36 percent–, and a majority of those with a mortgage have more than ten years left until their loan is paid off.  In many ways , the Freddie Mac survey that was released last month, “Fun After Fifty”,  found that the ... Read More »

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