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Market Analysis

Bubble Trouble? Prices Outpace Wages

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Over the past two years, home price appreciation has outpaced wage growth in 76 percent of U.S. housing markets and appreciation nationwide has outpaced wage growth by a 13:1 ratio, but the price hikes have been fueled by non-traditional buyers like investors and international buyers, according to a new RealtyTrac study. Wages up 1.3 percent, home prices up 17 percent ... Read More »

Stronger Demand and Thin Inventories Push Prices up 7.5 Percent

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Persistently tight inventories—not a good sign as the spring season nears—coupled with an uptick in sales pushed prices up 7.5 percent in February The median existing-home price2 for all housing types in February was $202,600. This marks the 36th consecutive month of year-over-year price gains and the largest since last February (8.8 percent), according to the National Association of Realtors. Total existing-home sales, which ... Read More »

Tight Credit Slows Hispanic Homeownership

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  Lack of reasonably priced low down payment programs and tighter mortgage credit in general limited the growth of Hispanic homeownership in 2014, according to the 2014 State of Hispanic Homeownership Report issued today by the National Associations of Hispanic Real Estate Professionals. However, population growth, income trends and consumer attitudes continue to support a highly optimistic outlook for Hispanic ... Read More »

Bank of Mom and Dad Puts Kids in Houses

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  New research by loanDepot LLC indicates the number of parents who expect to help their Millennial-age children purchase a home in the future will increase by 31 percent compared to the past five years, from 13 to 17 percent. Half (50%) of the parents who will help their children buy a home say they’ll contribute toward down payments, while ... Read More »

Lower Income Homeowners Face Negative Equity Forever

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  First came the news that last fall saw an uptick in negative equity.  Now Zillow has found that most low end homes, including those already underwater, are losing value, not gaining as one would expect with the tight supplies of entry-level properties.  Suddenly negative equity is no longer yesterday’s news.  Its a huge threat to the entry point for ... Read More »

FHA Shows Signs of Life

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Though the big cut in annual mortgage insurance premiums didn’t take effect until the end of January, FHA is already showing signs of life In February, FHA’s market share jumped from 15 in January to 19 percent of all loans closed during the month, according to Ellie Mae’s Originations Insight Report for February.  Its refi activity zoomed from 17 percent ... Read More »

Boomerang Buyers Try Try Try Homeownership Again

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Millions of former homeowners who defaulted during the housing bust and lost their homes to foreclosures or short sales want try homeownership again.  A survey of lenders by the National Association of Realtors found that half the lenders in the survey indicated an increase in potential return buyers seeking credit. Over the 12-month period from July of 2013 to June ... Read More »

RE/MAX: Low Inventories + Stronger Sales = Higher Prices

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  Low inventories combined with higher sales in February resulted in a year over year price increase of 5.5 percent, according to the February RE/MAX National Housing Report. Unlike last February, this February experienced increased home sales, but with only a moderate rise in prices. Home sales in February rose 7.1% from January and 2.2% from February 2014. Sales through ... Read More »

Mortgages Rise Faster than Prices

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If you want proof that more and more middle and lower income Americans are being left behind by the housing recovery, look no farther than the latest Mortgage Bankers Association report on purchase loans. Loan sizes for purchase mortgage applications are now increasing faster than house prices. The MBA’s Weekly Application Survey for the week ending March 6, 2015 reported ... Read More »

Appraisals Dip Below Homeowner Estimates For First Time in 17 Months

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Appraiser opinions of home values fell below homeowner estimates by 0.13 percent in February for the first time since August 2013 according to Quicken Loans’ Home Price Perception Index (HPPI), which measures the difference between what owners think their homes should be worth and what appraisers decide they actually are worth. Despite the drop in the national HPPI, appraiser opinions ... Read More »

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