Blog Archives

Housing in 2020: Construction Costs Grow, Mortgage Rates Slow

Where will housing be in 2020? According to the latest Metrostudy predictions, if all continues on its current track, construction costs could continue to increase, and mortgage rates could reel in. While rates have increased in the last six months, impacting affordability, the rise is not significant according to historical trends, says Mark Bound, chief […]

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New-Home Sales Still Weighed Down

July new-home sales were still weighed down, dropping 1.7 percent to 627,000, according to the Commerce Department. Inventory in July was 309,000, representing 5.9-months’ supply, and the median price was $328,700. “Although this month marks the lowest sales pace since last October, we continue to see solid housing demand due to economic strengthening and positive […]

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Is the Housing Market Normalizing? One Sign the Tide’s Turning

With demand strong and supply weak, the housing market is overwhelmingly partial to sellers. The average homeowner is profiting $40,000 at resale (with decade-high returns in 2017), and higher in the hottest markets, where they’re attracting multiple offers in record time. Now, there’s an early indicator that the market may shift. At the start of […]

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HUD Alleges Facebook Fair Housing Violations

In a formal complaint filed on Friday, the U.S. Department of Housing and Urban Development (HUD) accused Facebook of allowing landlords and homeowners to use targeted Facebook ads to discriminate against potential tenants and buyers based on race, color, religion, familial status, sex, national origin and disability. HUD alleged Facebook’s “targeted advertising” limits housing options […]

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Buyers Lured to Midwest: Realtor.com

Buyers are eyeing the Midwest, where, compared to the coasts, there are more practical prices, according to the latest ranking by realtor.com®. July’s hottest housing markets, based on days on market and online views, were: 1. Midland, Texas Age of Inventory (Median): 29 days 2. Fort Wayne, Ind. Age of Inventory (Median): 34 days 3. […]

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Building Claws Higher in July

Building clawed 0.9 percent higher in July, but still underwhelmed year-over-year, according to the Commerce Department. Combined, housing starts totaled 1.17 million, with 303,000 multifamily (five units or more) starts and 862,000 single-family starts. On an annual basis, starts tumbled 1.4 percent. Approvals for builds, encouragingly, increased 1.5 percent to 1.31 million permits, with approvals […]

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Appraisals Catch Up to Homeowner Opinions

Appraisers and homeowners are on similar wavelengths, with appraisals coming in only 0.28 percent under what homeowners expected in July, according to the Quicken Loans National Home Price Perception Index (HPPI). Appraised home values rose 4.86 percent year-over-year, according to the Quicken Loans National Home Value Index (HVI). “The story the HPPI is currently telling […]

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Homes by the Millions ‘Missing’ Thanks to Underbuilding

With building halted in the recession and construction at insufficient levels since, there is a 6.3 million deficit in the housing stock, according to an analysis newly released by Zillow. From 2008 on, there have been 1.9 approved building permits (single-family) per 1,000 people—but, historically, the number has been 3.9. According to the analysis, if […]

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