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Housing Markets

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 »

Where Have All the Sellers Gone?

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It looks like we are headed for the third season in a row when shortages of homes for sale will drive prices up too high for first-time buyers, keep renters renting and make it tough for move-up buyers from to move up.  Where have all the sellers gone? NAR’s chief economist, Lawrence Yun, chooses his words carefully and is careful ... Read More »

How do Databases of Offenders Hurt Home Values?

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  It’s no secret that high levels of crime make neighborhoods less desirable, which negatively impacts home values.  For example, last year 10 percent of sellers said the primary reason they sold their home was that their neighborhood has become less desirable. With access to online databases of both criminal and sex offenders in recent years, buyers can easily check ... Read More »

New Vs Old—Who’s Responsible for the Inventory Shortage?

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  Who’s responsible for the inventory shortage? Does the blame lay with owners of existing homes are aren’t motivated enough to sell or with builders who simply building enough to meet demand? As the days count down to the opening of the spring sales season, inventories are lagging behind last year—which lagged behind 2014.  The result has been upward pressure ... Read More »

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