Americans Think Homeownership is a Sound Investment

A vast majority of Americans believe that buying a home is a solid financial decision, and most believe they could sell their home for at least its initial purchase price, according to a new survey from the National Association of Realtors®. The 2015 National Housing Pulse Survey also found that a preponderance of Americans think that now is a good time to buy a home.

Full Story: http://www.realtor.org/news-releases/2015/10/americans-think-homeownership-is-a-sound-investment

NAR Study: New Home Construction Trailing Job Growth in Majority of Metro Areas

Despite positive improvements in the labor market in recent years, new home construction is currently insufficient in a majority of metro areas and is contributing to persistent housing shortages and unhealthy price growth in many markets, according to new research from the National Association of Realtors®.

Lawrence Yun, NAR chief economist, says low inventory has been a prevailing headwind to the housing market in recent years. "In addition to slow housing turnover and the diminishing supply of distressed properties, lagging new home construction — especially single family — has kept available inventory far below balanced levels," he said. "Our research shows that even as the labor market began to strengthen, homebuilding failed to keep up and is now contributing to the stronger price appreciation and eroding affordability currently seen throughout the U.S."

Full Story: http://www.realtor.org/news-releases/2015/09/nar-study-new-home-construction-trailing-job-growth-in-majority-of-metro-areas

Existing-Home Sales Maintain Solid Growth in July

Existing-home sales steadily increased for the third consecutive month in July, while stubbornly low inventory levels and rising prices are likely to blame for sales to first-time buyers falling to their lowest share since January, according to the National Association of Realtors®.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 2.0 percent to a seasonally adjusted annual rate of 5.59 million in July from a downwardly revised 5.48 million in June. Sales in July remained at the highest pace since February 2007 (5.79 million), have now increased year-over-year for ten consecutive months and are 10.3 percent above a year ago (5.07 million).

Lawrence Yun, NAR chief economist, says the increase in sales in July solidifies what has been an impressive growth in activity during this year's peak buying season. "The creation of jobs added at a steady clip and the prospect of higher mortgage rates and home prices down the road is encouraging more households to buy now," he said. "As a result, current homeowners are using their increasing housing equity towards the downpayment on their next purchase."

Full Story:  http://www.realtor.org/news-releases/2015/08/existing-home-sales-maintain-solid-growth-in-july

Real Estate Firms Remain Confident About Future Profitability, NAR Study Shows

Real estate firms are confident in the industry’s future growth and their increasing profitability, according to the 2015 National Association of Realtors® Profile of Real Estate Firms.

“A majority of firms have a positive view of the future, with 95 percent of all firms expecting their net income to either increase or stay the same in the next year,” said NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark. “The improving economy continues to fuel job growth, and while some markets are still recovering, the demand for real property is back, and prospects are looking good for the real estate industry.”

Full Story: http://www.realtor.org/news-releases/2015/08/real-estate-firms-remain-confident-about-future-profitability-nar-study-shows

California non-distressed property sales drive home sales higher

California single-family home and condominium sales grew 8.5% to 41,539 in June, up from 38,143 in May, mainly driven by an increase in non-distressed property sales, the latest California housing report from PropertyRadar said. On a yearly basis, sales were up 16.4% from 35,681 in June 2014.

Full Story: http://www.car.org/newsstand/newsreleases/todaysheadlines/?view=Standard

Pending Home Sales Maintain Momentum in May

Pending home sales continued to rise in May and are now at their highest level in over nine years, according to the National Association of Realtors®.

Full Story: http://www.realtor.org/news-releases/2015/06/pending-home-sales-maintain-momentum-in-may

California home sales reach highest level in two years, experience first double-digit increase since May 2012, C.A.R. reports

-Existing, single-family home sales totaled 437,040 in June on a seasonally adjusted annualized rate, up 3.3 percent from May and 11 percent from June 2014.
-Statewide sales were above 400,000 mark for third straight month.
-June statewide median home price was $489,560, up 0.8 percent from May and 7 percent from June 2014.
-California’s median home price was the highest since November 2007.
-Available housing supply remained constrained with 3.3 months of inventory.

Full Story: http://www.car.org/newsstand/newsreleases/2015releases/june2015sales/?view=Standard

CFPB Takes First Steps Toward Greater Clarity on RESPA-TILA Integrated Disclosure Enforcement

The CFPB has announced their “sensitivity” to companies making a good-faith effort to comply with the new RESPA-TILA Integrated Disclosure regulation.

Full Story: http://www.realtor.org/news-releases/2015/06/cfpb-takes-first-steps-toward-greater-clarity-on-respa-tila-integrated-disclosure-enforcement

Existing-Home Sales Bounce Back in May

Fueled partly by an increase in sales to first-time buyers, existing-home sales increased in May to their highest pace in nearly six years.

Full Story http://www.realtor.org/news-releases/2015/06/existing-home-sales-bounce-back-strongly-in-may-as-first-time-buyers-return

Why millennials aren't rushing to buy homes

As the economy continues to recover, the millennial generation is still feeling the longer-term effects of the recession due to underemployment and low salaries combined with high student debt and uncertainty about the future. These factors have affected the housing market, and the renter status of this generation was examined in a new survey by LendingTree.

Making sense of the story:
-Only 43.4 percent of college-educated millennials ages 24 to 35 own a home. When asked "What would allow you to consider purchasing your first home?" 67.4 percent said they'd need more income.
-Roughly a third want to move somewhere they like better before buying, 28.7 percent want to pay off student loans before becoming homeowners, and 25.7 percent want to put off owning a home until they've traveled or invested.
-However, only 4.4 percent of non-homeowner millennials have no interest in ever owning a home, thereby showing that homeownership remains an aspiration.

Full Story: http://www2.realtoractioncenter.com/site/R?i=mgoslutFAhiLF_sxW8Bc0Q

Homeownership still seen as enviable goal

Ninety-one percent of renters believe homeownership is something to be proud of, according to a survey released by Freddie Mac. Overall, the survey shows that Americans continue to have very positive views of homeownership, and the vast majority still views owning a home as a praiseworthy goal.

Full Story:  http://www2.realtoractioncenter.com/site/R?i=jitrkCIurhw258vrybxI9Q

How Higher Gas Prices Can Shape Home Values

A new study finds that rising gas prices can change the value of your home, for better or worse, depending on where you live. Reportedly, a 10 percent increase in gas prices can boost home prices by around 2 percent in certain neighborhoods, while reducing prices by around 1 percent in others. In addition, the intensity of the relationship between home prices and gas prices may have weakened as the fuel economy of American cars has improved.

Full Story  http://www2.realtoractioncenter.com/site/R?i=Zqo60mGWA-NOCOrCP58dQA

Self-employed find it's not easy to get a mortgage

Self-employed borrowers have a harder time getting a mortgage than their salaried peers, according to a new study. This is despite the fact that many such borrowers often earn higher incomes. The self-employed receive 40 percent fewer loan quotes than the average would-be borrower. The reason for this percentage is lower credit scores and more complex paperwork to verify income.

Read More - http://www2.realtoractioncenter.com/site/R?i=zaV1PmwRZzRm1-aJrxhZtQ

How Buyers and Sellers select their Realtor

I'd like to be your agent that came from "Past experience" or "Recommendation" as these two are EARNED.

The Decline in Geographic Mobility

During the past three decades, geographic mobility within the United States has declined steadily. A combination of factors is cited as the reason for the decline in a study from the Federal Reserve, including an aging population, rising homeownership rates, and a decrease in labor market transitions. These labor transitions are defined as a decline in the fraction of workers moving from job to job, changing industry, and changing occupation. The study notes, “Declines in internal migration since the mid-2000s have attracted the attention of researchers and the public because they coincided with a dramatic housing market contraction and deep economic recession.”

Full Story: http://www2.realtoractioncenter.com/site/R?i=mVuYEkz0SdTEEVr5V8m5IA