Saturday , 10 October 2015
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Market Trends

Rural Communnities Attract More Buyers


  Purchase mortgages grew at a faster rate in rural communities than in the rest of the nation last year and rural borrowers paid significantly higher rates of interest than urban or suburban home buyers in 2014, according to an analysis of recently released data from the Home Mortgage Disclosure Act (HMDA) by Keith Wiley, senior research associate at the ... Read More »

Boomers Creating Massive Boom in Retrofitting Homes


With 78 million baby boomers entering or on the verge of retirement, a concerted national effort is required to adapt homes and communities for the 73 percent of seniors who prefer to age in place, according to a new report released yesterday by the Bipartisan Policy Center (BPC). The preference to grow older in one’s own home and community stems ... Read More »

Move up Buyers Move the Housing Markets


Purchases by current homeowners helped bolster home prices in August, according to results from the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. “Current homeowner purchases are supporting the housing market,” said Tom Popik, research director for Campbell Surveys. “Metrics such as the sales-to-list price ratio show a strong housing market, particularly in western states. Nonetheless, forward-looking commentary from real estate ... Read More »

Do Millennial Buyers Really Prefer the City?


A study by Federal Reserve economists Elora Raymond and Jessica Dill found that it’s true that first-time homebuyers prefer to buy in the city.  They tend to live closer city centers than existing homeowners who are burying a new home.  First-timers buy within an average of 5.8 to 5.9 miles from city centers whereas existing owners prefer 6 to y25 ... Read More »

Where O Where Have all the Sellers Gone?


Not so long ago, when prices were plummeting and foreclosures pumped up the inventory counts with discounted values, homeowners and real estate professionals would have welcomed one of the chronic problems plaguing markets today; inventories so low that they inflate prices and keep move up buyers in homes they want to leave. The question everyone is asking: “What’s happened to ... Read More »

Detroit Home Values Come Back from the Brink


Sold prices rose 28 percent in Detroit over the past year, topping the list of Pro Teck Valuation Services’ Home Value Forecast. Others included in the list were Palm Bay, FL; Port St. Lucie, FL; Merced, CA; and, San Francisco, CA. “While Detroit has seen healthy gains this year, the Home Value Forecast rating system shows that Detroit is still ... Read More »

Wake-Up Call: Depreciation Soars in Top Markets

wake up call

Though rising median home prices paint a favorable picture of current housing markets, the population of houses losing over 2 percent of value per year has increased to 24 percent from just 6 percent a year ago in ten of the nation’s largest markets. According to June data, in three major urban markets–New York City, Washington DC and Chicago–more than ... Read More »

Boomers Would Rather Fix Up Than Move Out


  Baby boomers (born 1945-1964) are the primary drivers of home improvement spending, accounting for about half of total home improvement spending. However, Gen-Xers (born 1965-1984) are gaining share, with their share up from 5 percent in 1995 to 30 percent in 2013. Recent buyers, who moved into the home within the past three years, spend 25 percent more on ... Read More »

The Dry Rot in America’s Housing Stock: A Sad Legacy of the Foreclosure Era


  What would an influx of 3.8 million entry-level homes do for housing affordability? Limited inventory and strong demand continue to push home prices higher in America’s hottest housing markets, leading to declining affordability.  Forecasters are raising their predictions as tight inventories of homes, particularly lower priced properties, keep first-time buyers on the sidelines. Those 3.8 million homes, nearly twice ... Read More »

Corelogic: Hot Market Won’t Cool for Another Year


Home prices nationwide rose by 6.5 percent in June, the 40th straight month of year-over-year increases, and will keep on rising by 4.5 percent through June 2016, CoreLogic said today. On a month-over-month basis, home prices nationwide, including distressed sales, increased by 1.7 percent in June 2015 compared with May 2015. The national average price on the CoreLogic index is now ... Read More »

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