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Market Trends

Tight Credit Squeezes Older First-time Buyers More than Millennials

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  Contrary to the popular belief that Millennials should wait until their late thirties to buy a home, new research from the Center for Real Estate Analytics at the Atlanta Federal Reserve Bank.suggests that purchases by Millennials are peaking at an earlier age than their older siblings because mortgage credit has actually became tighter for older first-time buyers than for ... Read More »

Renters Double Up to Make it Through the Night

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  With rents rising faster than home values and vacancy rates falling to the lowest levels of the post-Bubble era, something has got to give. In his presentation, “The Rent’s Too Damn High”, at the National Association of Real Estate Editors’ annual meeting, Zillow’s chief economist, Stan Humphries, put the rental crisis in a context everyone who has shared a ... Read More »

Welcome Home, First-timers!

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Not only were more homes sold in May than in any other month over the past five years, the percent share of first-time buyers rose to 32 percent in May, up from 30 percent in April and matching the highest share since September 2012. A year ago, first-time buyers represented only 27 percent of all buyers, the National Association of Realtors ... Read More »

How the Rent Trap is Killing Off First-time Buyers

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This is the year when the stars are aligned perfectly for record numbers of tenants to tear up their leases and kiss the renting life good-bye. Historically low mortgage rates won’t last much longer.  Home prices will only rise. New three percent down programs from Fannie and Freddie sweeten the deal for new buyers.  FHA’s mortgage insurance premium cut makes ... Read More »

Nascent Demand, Tight Inventories Supercharge April Prices

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  Prices took an unexpectedly big leap upward in April as rising demand collided with tight supplies to propel sale prices. With headlines like The Re-Explosion of U.S. House Prices Is Over, most forecasts in January had prices rising 4-5 percent over 2014.  Only the CoreLogic and NAR were on the sunny side, predicting 5/9 and 6 percent respectively. Only ... Read More »

Too Many Listings, Too Much Time

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A new study scheduled to be published by the Journal of Housing Economics found that agents who take on too many listings sell them for about 3 percent less and it takes 129 percent longer to sell than agents with modest listing inventories. The study looked at whether agents have an incentive to take on too many listings—at least from ... Read More »

Flippers Profit on Rising Values and Slim Inventories

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he average gross profit — the difference between the purchase price and the flipped price — for completed flips in the first quarter was $72,450, up from $65,290 in the previous quarter and up from $61,684 in the first quarter of 2014 to the highest level going back to the first quarter of 2011, the earliest where data is available, ... Read More »

First April Report: Midwest Trails the Recovery

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    The Midwest is disappointing forecasters who called for a strong recovery this year–through April the region remains volatile, according to Clear Capital’s take on April market data.  At the end of the first quarter, the Midwest is already seeing negative quarterly declines of -0.10%. For nearly seven years, it has struggled to get on equal footing with the ... Read More »

Negative Equity Freezes Lowest Tier Owners

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One reason inventories for first-time buyers are chronically depleted is that lower priced homes continue to bear a more of the brunt of negative equity that those priced higher. A new report from Black Knight found that in March the number of underwater borrowers decreased by 1.6 million from this time last year and that the negative equity population has ... Read More »

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