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Some Highlights:November’s Existing Home Sales report revealed that sales are now at an annual pace of 5.61 million which is “now the highest since February 2007 (5.79 million) and is 15.4% higher than a year ago (4.86 million).”Total housing inventory (or the inventory of homes for sale) fell 8.0% from last month and is now [...]
You may have heard that the Federal Reserve raised rates last week… But what does that mean if you are looking to buy a home in the near future?Many in the housing industry have predicted that the Federal Open Market Committee (FOMC), the policy-making arm of the Federal Reserve, would vote to raise the federal [...]
According to a recent analysis by CoreLogic, Millennial renters (aged 20-34) who have student loan debt also have higher credit scores than those who do not have student loans.This may come as a surprise, as there is so much talk about student loans burdening Millennials and holding them back from many milestones that previous generations [...]
There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage - either yours or your landlord’s.As an owner, your mortgage payment is a form of [...]
Some Highlights:Your monthly housing cost is directly tied to the price of the home you purchase and the interest rate you secure for your mortgage.Over the last 30 years, interest rates have fluctuated greatly with rates in the double digits in the 1980s, all the way down to the near 4% we are experiencing now.Your [...]
Over the next five years, home prices are expected to appreciate 3.24% per year on average and to grow by 21.4% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.So, what does this mean for homeowners and their equity position?As an example, let’s assume a young couple purchases and closes on a $250,000 home [...]
As the temperature in many areas of the country starts to cool down, you might think that the housing market will do the same. This couldn’t be further from the truth! Here are 4 reasons you should consider buying your dream home this winter instead of waiting for spring!1. Prices Will Continue to RiseCoreLogic’s latest [...]
Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five [...]
Some Highlights:For the 4th year in a row, the Northeast saw a concentration of High Outbound activity.Oregon held on to the top stop of High Inbound states for the 3rd year in a row.Much of this Outbound activity can be attributed to Boomers relocating to warmer climates after retiring.Powered by WPeMatico
There are some who are calling for a decrease in home prices should mortgage interest rates begin to rise rapidly. Intuitively, this makes sense as the cost of a home is determined by the price of the home, plus the cost of financing that home. If mortgage interest rates increase, fewer people will be able [...]