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Market Trends

Were July Sales Up or Down?

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  Two major market reports left real estate professionals shaking their heads this week over the latest sales data.  RealtyTrac and NAR reported July sales headed in opposite directions as the buying season closed up shop for the duration. Sales of residential properties were down 3 percent from June and down 12 percent from a year ago — the third ... Read More »

Lag in New Households Retards Recovery

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  Household formation over the past 12 months is less than half of predictions, slowing demand for housing even though it’s increasingly cheaper to buy than rent.  The near term outlook for home sales remains gloomy, according to the latest from Freddie Mac’s chief economist. Household formation still remains very slow and the Census Bureau reports that over the past ... Read More »

Sales Rise but Trail Last Year

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Existing-home sales increased 2.4 percent in July to a seasonally adjusted annual rate of 5.15 million ibut remain 4.3 percent below the 5.38 million-unit level from last July, which was the peak of 2013. The median existing-home price2 for all housing types in July was $222,900, which is 4.9 percent above July 2013. This marks the 29th consecutive month of ... Read More »

It’s the Year of the Renter

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  Apartment rentals are setting records right and left.  Year-to-date  effective apartment rent growth through July leads all post-Great Recession years for the fourth straight month and is just 10 basis points away from the recovery’s peak YTD figure, reached in 2012. Annualized effective rent growth was 3.8% in July, a 12 bps increase from the 3.7% recorded in June ... Read More »

Pets Are Still Homeownership’s Secret Weapon

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      No one knows exactly how many renters become homeowners because—or partly because–they love their dog or cat. Faced the option of losing a loved pooch or biting the bullet and buying, certainly many more choose homeownership to keep a pet than admit it. There’s no doubt that pet unfriendly landlords are partly to blame for the boom in ... Read More »

Housing Recovery Hits the Brakes Across America

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    Home price increases that were generated in the heady days of spring are drying up quickly in the summer months, increasing the chances that the year will end with the housing recovery’s performance far short of last year’s stellar performance and possibly in the red in more marginal markets than last year. The national median existing single-family home ... Read More »

Price Increases Cool Down in the Summertime

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Home prices nationwide, including distressed sales, increased 7.5 percent in June 2014 compared to June 2013 and rose 1 percent over May, setting new highs for 12 states.  Despite low rates, investor purchases and tight supplies, prices are expected to slow down to a .07 percent monthly increase in July. A total of 12 states, plus the District of Columbia, ... Read More »

Hello Moderation, Bye Distress Sales

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As a percent of all sales, distressed sales fell to 18 percent in July from their peak of 40.8 percent in March of 2011. The major shift in home sale type, from distressed to fair market, will continue to impact future growth potential for markets overall, reports Clear Capital’s July Market Report. Does that mean home price gains will continue ... Read More »

Freddie Mac: Apartments are Booming

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With vacancy rates at a 13-year low, a large cohort of young adult renters and potential renters and a continued demand for apartments that is expected to meet the new supply of units under construction, the multifamily market is looking extraordinarily strong at mid-year. Freddie Mac’s six month outlook for the multifamily rental housing market is strong despite the fluctuating ... Read More »